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…
Equinor and its partners Vår Energi and Petoro have postponed the start-up of Johan Castberg field, located in the Norwegian part of the Barents Sea, to January or February 2025 from the initial plan to bring the field on stream by the end of 2024…
Drilling waste management specialist, TWMA, has announced the appointment of Jonathan Parkes as its new Group Commercial Director. This strategic hire comes as the Aberdeen-based company continues to build on a period of rapid international growth and expansion…
Oil prices rose by nearly 2% on Monday on increased geopolitical risk after the fall of Syrian President Bashar al-Assad, and as top importer China flagged its first move towards a loosened monetary policy stance since 2010.Brent crude futures were up $1…
Norwegian oil and gas operator DNO has restarted production at its Trym field in the Norwegian North Sea, which is tied-back to Tyra field’s infrastructure, after five-year shutdown.First commissioned in 2011, Trym is expected to contribute 3…
It was likely a fairly easy decision for OPEC+ to once again delay plans to increase oil output.The soft state of global demand is by itself sufficient reason to justify the decision at this week's meeting of the group to defer winding back some of its production cuts until at least April…
Brazil's state-run oil firm Petrobras PETR4.SA cut $1.1 billion in planned investments in decommissioning oil and gas platforms in its strategic plan for the 2025-2029 period, compared to what was earmarked in its 2024-2028 plan, the company told Reuters…
National Ocean Industries Association (NOIA) President Erik Milito issued the following statement after the Bureau of Ocean Energy Management (BOEM) released the Draft Programmatic Environmental Impact Statement (EIS) for oil and gas leasing…
Oil prices fell 1% on Friday and were headed for a weekly loss as analysts projected a supply surplus next year despite an OPEC+ decision to delay output hikes and extend deep production cuts to the end of 2026.Brent crude futures were down 85 cents…
UK-based oil firm Serica Energy has suspended the production from its Triton floating production, storage, and offloading (FPSO) unit in the North Sea after identifying an issue with one of the compressors seals, prompting the company to further reduce its full-year production outlook…
Russia and Pakistan discussed cooperation on oil and gas offshore exploration and refining at intergovernmental meetings this week in Moscow, the Interfax news agency reported, citing Russia's deputy energy minister.Talks also covered the prospect…
Equinor has started oil and gas production at Smørbukk North, a satellite to the Åsgard field in the Norwegian Sea.The Smørbukk North has been developed as a subsea tie-in to the Åsgard field, utilizing its already existing infrastructure.According to Equinor…
Oil prices rose more than 2% on Tuesday as Israel threatened to attack the Lebanese state if its truce with Hezbollah collapses, and as investors positioned for OPEC+ to announce an extension of supply cuts this week.Brent crude futures posted their biggest gains in two weeks…
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…
UK's Serica Energy said on Tuesday it expects full-year production to be lower than its previous forecast, following an outage at its Triton hub in the North Sea.Following the suspension of production at Triton on Oct. 26, there has been an…
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