Offshore Oil & Gas

EIA: US Crude Imports to fall to lowest level since 1971

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…
Shell to Add Two Wells at GoM Perdido Platform

Shell said on Thursday its unit has made a final investment decision to add two wells at the Perdido platform in the U.S. Gulf of Mexico to boost production.The Shell unit, which operates the Perdido platform, said the two wells are expected to produce up to 6,000 barrels of oil equivalent…
Oil Falls as Chinese Demand Sags, Fed Ponders Rate Cut

Oil futures slipped from the highest levels in several weeks on Monday on weakness in consumer spending in China, which is the world's largest oil importer, and as investors paused buying ahead of the U.S. Federal Reserve's interest rate decision.Brent crude futures fell 39 cents to $74.10 a barrel by 1:10 p.m EST…
Denmark Issues Offshore Wind Permit

The Danish Energy Agency has granted a construction permit for 240-megawatt (MW) Jammerland Bugt offshore wind farm, which is expected to start operating in 2029, developer European Energy said on Tuesday.The project is located in the Bay of Jammerland, on the western side of the…
Oil Climbs After US Crude Stocks Fall

Oil edged up on Wednesday after a drop in U.S. crude inventories, and as investors eyed a potential interest rate cut by the U.S. Federal Reserve while weighing its projections for 2025.Brent futures were up 62 cents, or 0.85%, to $73.81 a barrel at 10:40 a.m. ET, while U.S. West Texas Intermediate crude was up 86 cents, or 1.23%, to $70.94.U.S.

Latest news

Exploration

Brazil's Brava is moving closer to the sale of Rio Grande do Norte properties

Brava Energia, based in Brazil, is planning to sell 11 oil and natural gas concessions located in the state of Rio Grande do Norte to Azevedo & Travassos infrastructure company and Petro-Victory Energy oil company. Brava announced in a Tuesday securities filing that the firms had signed an exclusivity agreement for a 30-day period to negotiate the final sale documents. Brava said that the move was part of its plan to "maximize returns to shareholders" by optimizing its portfolio.

Drilling

ADNOC Drilling partners with SLB and Patterson-UTI to form a 'unconventional energy venture'

ADNOC Drilling, a division of the state oil company in the United Arab Emirates, announced on Tuesday that it had signed an agreement for Turnwell Industries - a joint venture between oilfield service firms SLB, Patterson-UTI, and ADNOC Drilling. ADNOC Drilling owns 55% of the company, which was created to access unconventional energy resources such as oil and gas requiring advanced extraction techniques. SLB owns 30% of the company, while Patterson-UTI holds 15%.

Production

EIA: US Crude Imports to fall to lowest level since 1971

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).

EIA: US Crude Imports to fall to lowest level since 1971

Shell to Add Two Wells at GoM Perdido Platform

Oil Falls as Chinese Demand Sags, Fed Ponders Rate Cut

Denmark Issues Offshore Wind Permit

Oil Climbs After US Crude Stocks Fall

Sources say that Northern Oil and Gas is in the process of acquiring Granite Ridge, a smaller rival.

SOCAR sources: Russia and Ukraine cannot agree on gas deal mediated by Azerbaijan

The copper giant Peru predicts another plateau in production by 2025

Latest news

Pharos Energy announces that licences for 2 Vietnam oil and gas fields have been extended until 2031/32

Norway's oil and gas production fell in November but exceeded forecast

The copper giant Peru predicts another plateau in production by 2025

O Globo reports that Brava Energia, a Brazilian company, will sell Potiguar's assets to PetroReconcavo.

Peru's No. Adolfo Heeren is named new CEO of Antamina, Peru's No.

Putin is clear: there will be no Ukraine Gas Transit Deal

BP and Iraq agree on technical terms for redeveloping Kirkuk oilfields

AI's hunger for energy fuels geothermal startup but rivalry over natgas clouds the future

Sinopec, a top refiner, claims that China's oil demand will peak in 2027.

Wall Street Journal, Dec 19,

Sinopec predicts China's oil consumption will peak in 2027

North Dakota oil plants slow to return online after wildfires in October

Exploration

Brazil's Brava is moving closer to the sale of Rio Grande do Norte properties

Vice Minister says Saudi Arabia has extracted lithium in oilfield runoffs

Talos Energy will terminate the poison pill following an agreement with Carlos Slim’s firm

Abu Dhabi's ADNOC Gas names Fatema Al-Nuaimi as its new CEO

Drilling

ADNOC Drilling partners with SLB and Patterson-UTI to form a 'unconventional energy venture'

Sources say that the US study is likely to refrain from concluding that LNG exports are not in the public interest.

Phillips 66 sells stake in Texas pipeline to $865 million

Arcius Energy, a joint venture between BP and ADNOC’s XRG, will supply Egypt's gas.

Production

EIA: US Crude Imports to fall to lowest level since 1971

Cenovus Energy predicts increased production by 2025 for new projects

Equinor delays start of Arctic Castberg Oilfield until early 2025

Oil Rises as Syria's Assad Departs, China eases Monetary Policy

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