Production

Declining Norway investment affects exploration drilling more than production drilling

News

 Total investment in oil and natural gas extraction in Norway was 21 per cent lower in the first half of 2016 compared with the first half of 2015, a decline of about 20.9 billion Norwegian kroner (US $3.5 billion), according to the US Energy Information Administration. However, investment cuts have affected some segments of the industry […]

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Global chemicals production ends Q3 on soft note

News

Gains were registered in pharmaceuticals, agricultural chemicals, organic chemicals, and coatings. Plastics resins activity was flat WASHINGTON – The American Chemistry Council’s Global Chemicals Production Regional Index (Global CPRI) shows that growth in the industry has been nearly flat most of 2016. The headline index for Sept. showed no gain or loss on a three-month moving

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Offshore oil production in deepwater and ultra deepwater is increasing

News

US and Brazil together account for more than 90% of global offshore oil deepwater production Global offshore oil production (including lease condensate and hydrocarbon gas liquids) from deepwater projects reached 9.3 million b/d in 2015, according to the US Energy Information Administration. Deepwater production, or production in water of depths greater than 125 meters, has increased 25 per

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Which US oil and gas independents will increase production in 2017?

News

Independents with low cash-flow breakevens and low leverage (Marathon, Hess, Pioneer) are best positioned to grow in 2017 Cash-flow neutrality, capital discipline and de-leveraging will remain the strategic priorities for the coming year. Unless oil prices rebound to US$60/bbl, a return to double-digit production growth is still some way off for most, according to an

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OPEC is back in business and the market is sceptical: Kemp

Uncategorized

Commentary about OPEC, output agreements tends to obsess about personalities and negotiating process The agreement, coming after many observers had written off the possibility of a deal, initially pushed crude prices sharply higher (“Saudi Arabia squeezes hedge funds with bearish bets on oil“, Reuters, Oct. 10). Flat prices and timespreads firmed as traders concluded the accord

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