Production News

U.S. net crude oil imports are forecast to fall by 20% next year to 1.9 million barrels per day, their lowest since 1971, the Energy Information Administration said on Tuesday, pointing to higher U.S. production and lower refinery demand.The EIA expects the United States to produce 13.52 million bpd in 2025, up from 13.24 million bpd in 2024, it said in its December Short-Term Energy Outlook (STEO). Meanwhile refiners are set to process 16 million bpd of crude oil in 2025, down by 200…

Donald Trump's transition team is putting together a wide-ranging energy package to roll out within days of his taking office that would approve export permits for new liquefied natural gas (LNG) projects and increase oil drilling off the U.S. coast and on federal lands, according to two sources familiar with the plans.The energy checklist largely reflects promises Trump made on the campaign trail, but the plan to roll out the list as early as day one ensures that oil and gas production will rank alongside immigration as a pillar of Trump's early agenda.Trump…

U.S. oil and gas producers are unlikely to radically increase production under president-elect Donald Trump as companies remain focused on capital discipline, a senior executive at Exxon Mobil said."We're not going to see anybody in 'drill, baby, drill' mode," Liam Mallon, head of Exxon's upstream division, told the Energy Intelligence Forum conference in London."A radical change (in production) is unlikely because the vast majority, if not everybody, is focused on the economics of what they're doing," he said.

President-elect Donald Trump's support for the fossil fuel sector and climate scepticism have sparked dismay throughout the global climate tracking community, and fears that his policies may reverse global energy transition momentum.His campaign speeches included pledges to boost domestic oil and natural gas output and to remove mandates on electric vehicle production, but he has yet to publish many specific new energy policies.This lack of clarity has spurred despair among the climate community as it braces for the worst.But a look back at the trends across the U.S.

The Norwegian Offshore Directorate said that Norway's oil and gas production in October exceeded the official forecast by 5 percent.Norway is Europe's biggest supplier of natural gases and oil. However, output can vary from month to months depending on maintenance and other stops at over 90 offshore fields.The total oil, gas liquids, natural condensate and gas production stood at 0.657 standard cubic metres (SCM) per day. This is equivalent to 4,13 million barrels oil equivalent.The…

Lloyd’s Register (LR) has signed a memorandum of understanding (MoU) with Samsung Heavy Industries (SHI) for the joint development of a floating production, storage, and offloading (FPSO) system for green ammonia. The FPSO process has been widely used in the oil and gas industries, but its application for ammonia is relatively new. The unit will use renewable energy to provide power for electrolysis of seawater to produce green hydrogen, which will be combined with nitrogen and synthesized to produce green ammonia…

Former President Donald Trump's return to the White House could mean tougher enforcement of U.S. oil sanctions against Iran, potentially trimming global supplies, but his administration could struggle to get China, Iran's top crude customer, to cooperate, analysts said.Cracking down on OPEC-member Iran would support global oil prices, but the effect could also be offset by other Trump policies, from measures to expand domestic drilling, the imposition of tariffs on China that could depress economic activity…

Petrobras has achieved first oil with the Floating Production Storage and Offloading (FPSO) unit Marechal Duque de Caxias, one of the largest ultra-deepwater FPSOs in the world, installed at the Mero field in Santos Basin, offshore Brazil.The FPSO has the capacity to produce up to 180,000 barrels of oil per day and compress up to 12 million cubic meters of gas daily. It will increase Mero’s installed production capacity from 410,000 to 590,000 barrels of oil per day.The unit is part of Mero’s fourth production system and was chartered from MISC.

Australia's second-largest oil and gas producer Santos estimated its full-year production to be at the top half of its forecast range on Thursday, and said its Pikka project could start oil production as early as 2025.The company expects to report full-year production in the top end of the forecast range of 84 -90 million barrels of oil equivalent (mmboe), with 65.6 mmboe achieved year-to-date.The Adelaide-based company said its drilling program for the Pikka phase one project in Alaska's North Slope is progressing well and could start oil production as early as December 2025.

“Year-to-date, Guyana’s oil exports have jumped to 598 thousand barrels per day (kbpd), a 58% year-on-year increase, adding to the growth achieved in previous years. Over the past three years, the average annual growth rate has hit 76%,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.ExxonMobil first started producing from the Liza field in the Starbroek Block in late 2019. Since then, the operation in the Liza field has been expanded and production in the Payara field added.

U.S. offshore oil producers were taking initial steps ahead of a storm predicted to become a hurricane in the middle of the week, evacuating non-essential staff from Gulf of Mexico production platforms.The U.S.

U.S. Gulf of Mexico energy firms on Friday were lumbering back from hurricane disruptions as offshore oil and gas producers ramped up operations after halving the key energy region's output, ports reopened, and onshore terminals accepted oil and liquefied natural gas (LNG) tankers.Hurricane Francine shut in up to 42% of the region's offshore oil and 53% of its natural gas production. The storm missed Texas and came ashore in Louisiana late on Tuesday, causing flooding and power problems that affected onshore terminals and ports that withstood 100 mph (161 kph) winds.The port of New Orleans…

U.S. Gulf of Mexico oil and gas producers were evacuating staff and curbing drilling to prepare for Tropical Storm Francine on Monday as it churned through the energy region on a path to bring high winds and drenching rains to the U.S. mid-South.Francine is likely to bring life-threatening storm surge to the upper Texas and Louisiana coasts and hurricane-force winds to Southern Louisiana this week. Residents of Calcasieu Parish in Louisiana on Monday were supplied with sandbags and other materials to combat the expected storm surge…

An arbitration panel that will decide a high-profile clash between Exxon Mobil and Chevron will delve into the secret value of Hess' oil riches in Guyana, people familiar with the matter said.Chevron last October offered to pay $53 billion for Hess, one of the two biggest deals in the largest wave of consolidation in the oil industry in decades. The asset most coveted by Chevron in the takeover is Hess’s stake in a Guyana field operated by top U.S. rival Exxon.Exxon and China's CNOOC  have challenged the deal…

Nigeria's oil output has risen to between 1.6 million and 1.7 million barrels per day after the government beefed up security to curb crude theft, Chief of Naval Staff Emmanuel Ikechukwu Ogalla said on Tuesday.Crude production in Nigeria, a member of the Organization of the Petroleum Exporting Countries (OPEC), stood at 1.2 million barrels per day in February, Ogalla said. Oil major Shell has exited the country."We have stepped up surveillance and enforcement in the oil producing areas…

Santos said on Thursday growth projects were making good progress, with flagship Barossa natural gas development now 77% complete as Australia's second-largest fossil fuel producer makes attempts to speed up its ambitious forward strategy.Barossa in offshore Australia has faced criticism and opposition, with the company having to fight regulators and litigations which might potentially delay the project's start in 2025.Santos cannot resume production at Darwin LNG operations, which shut down in 2023…

Singaporean rig- and shipbuilder Seatrium has tapped the American Bureau of Shipping (ABS) to class a pair of floating production storage and offloading units (FPSO) being built for Brazil's state-owned Petrobras, the classification society announced. Slated for delivery in 2029, the FPSOs P-84 and P-85 will be deployed in the Atapu and Sépia fields, located in the eastern part of the Santos Basin, approximately 200 kilometers offshore of Rio de Janeiro in Brazil. Each have a production capacity of 225…

Golar LNG has entered into definitive agreements with Pan American Energy (PAE) for a 20-year deployment of a floating liquefied natural gas (FLNG) vessel in Argentina.The FLNG project will monetize Argentine gas, tapping into the vast resources from the Vaca Muerta shale formation in the Neuquina Basin, the world's second-largest shale gas resources. The project is expected to start LNG exports within 2027, establishing Argentina as an LNG exporter.The agreement includes a gas sales agreement from PAE for the supply of gas…

Examining similarities and differences between the deepwater oil & gas and the emerging floating wind segment.There has been much excitement around the potential for the offshore wind industry to access deeper water sites through the deployment of floating wind technology.Further, there has been much discussion around the development and deployment of disruptive technologies to leverage the opportunity of floating wind. However, in the short- to medium-term, there is insufficient…

Ivory Coast expects a more than threefold increase to its oil output by 2027, boosted by recent oil and gas discoveries at the West African nation's Baleine and Calao offshore fields, President Alassane Ouattara said on Tuesday.The world's top cocoa-producing nation is hoping to become a major regional oil and gas producer and regional energy hub.Ouattara told a joint session of parliament that more than $15 billion is expected to be invested in the country's oil sector, adding that output would grow to about 200,000 barrels per day (bpd) from 60,000 bpd by 2027."It will be a spectacular leap,

Woodside has achieved first oil from the Sangomar field offshore Senegal, marking the safe delivery of the country’s first offshore oil project.The Sangomar Field Development Phase 1 is a deepwater project including a stand-alone FPSO facility with a nameplate capacity of 100,000 barrels/day, and subsea infrastructure that is designed to allow subsequent development phases.The Sangomar Field Development Phase 1 features the Léopold Sédar Senghor FPSO, named after the first president of Senegal, which is moored approximately 100 kilometers offshore Senegal.

OPEC+ agreed on Sunday to extend most of its deep oil output cuts well into 2025 as the group seeks to shore up the market amid tepid demand growth, high interest rates and rising rival U.S. production.Brent crude oil prices LCOc1 have been trading near $80 per barrel in recent days, below what many OPEC+ members need to balance their budgets. Worries over slow demand growth in top oil importer China have weighed on prices alongside rising oil stocks in developed economies.The Organization of the Petroleum Exporting Countries and allies led by Russia…

Gall Thomson has revealed there were 16 known activations of its Marine Breakaway Couplings during 2023. The activations occurred in nine different countries around the world.On each occasion, the Marine Breakaway Coupling (MBC) operated exactly as expected. Oil spills, injuries and damage to assets such as vessels, hoses or facilities was avoided. There were no known spurious activations reported.Gall Thomson MBCs are designed to activate in an emergency during offshore hose…