oil production

One of the world’s largest oil provinces—the leading shale basin in the United States—continues to ramp up production. According to Wood Mackenzie analysts, crude oil and condensate production in the basin is expected to increase by 200,000 barrels per day this year, reaching 6.6 million barrels per day, despite operators …

Major oil companies are now openly discussing the end of the shale boom in the United States, attributing it to Donald Trump’s trade policy, which has led to a decline in commodity prices, according to the Financial Times. Market participants told the publication that they are being forced to reduce …

The total oil reserves of Tatneft amount to 10.5 billion tonnes. At the current production level, the company’s resources are sufficient for more than 200 years.This was stated by Nail Maganov, General Director of the company, during a shareholders’ meeting. It was clarified that out of the total oil resources …

The Rosneft Research Institute in Ufa hosted a large-scale scientific and technical conference titled “Innovative Technologies in Hydrocarbon Production” as part of the Russian Oil and Gas Chemical Forum. The conference brought together over 700 experts from leading oil industry companies representing 40 cities across Russia. More than 200 presentations …

The combined investment from both the Russian state and subsoil users in geological exploration in the Arctic zone of the Russian Federation amounted to nearly 175 billion rubles in 2024, according to Alexander Kozlov, Minister of Natural Resources and Environment of the Russian Federation. He made the statement during a …

Only 13 billion out of 31 billion metric tons of oil reserves in the Russian Federation are considered economically viable, while the majority are hard-to-recover reserves, and at the current production rate, the total reserves will last for 26 years, according to Alexander Kozlov, the Minister of Natural Resources and …

The administration of U.S. President Donald Trump is prepared to extend the license granted to Chevron Corporation for oil production and export activities in the Bolivarian Republic of Venezuela by an additional 60 days, Bloomberg reported, citing sources familiar with the matter. The extension is being considered in the context …

Oil production in the Republic of Kazakhstan rose by 2% from the April average, reaching 1.86 million barrels per day (bpd) between May 1 and May 19, according to Reuters. The Tengiz field alone contributed 932,000 bpd to this total. In April, Kazakhstan reduced its oil output by 3% month-on-month, …

Oil production from low-permeability reservoirs will cease to grow by the 2030s unless an innovative method for developing such formations is invented, according to Ryan Lance, Chief Executive Officer of ConocoPhillips. According to Lance, if the price of oil remains in a comfortable range—between 65 and 75 U.S. dollars per …

The Abu Dhabi National Oil Company (ADNOC) of the United Arab Emirates (UAE) and ExxonMobil Corporation of the United States will work jointly to enhance oil recovery at the Upper Zakum offshore oil field, ADNOC announced following the recent visit of U.S. President Donald Trump to the Emirates. The field …