Shales are Closing – Everyone is Moving to the Shelf
Oil production from mainland US fields is declining, the EIA reports, although recently their data showed record levels of oil production across the country. The United States is losing production from mainland fields, writes Reuters with a link to data from the Energy Information Administration (EIA) of the US Department …
Alexander Novak Announced the Stagnation of Shale Oil Production in the United States
According to the Deputy Prime Minister of the Russian Federation, the industry has still not recovered from the stress of the pandemic Shale oil production in the United States is stagnating at approximately the same level, Russian Deputy Prime Minister Alexander Novak said in an interview with Business FM. US …
Zarubezhneft Plans to Increase Oil Production in Africa to 2 Million Tons/Year by 2030
Oil producing company Zarubezhneft plans to increase oil production in Africa to 2 million tons per year by 2030. This was stated by the company’s Deputy General Director V. Terentyev at one of the sessions of the Russian Energy Week (REN-2023). The company intends to gradually achieve this goal: consistently …
Riyadh Announced Its Readiness to Increase Oil Production if Prices Rise
Saudi Arabia has told the United States that it is ready to increase oil production in early 2024 if crude oil prices are high, the Wall Street Journal reports, citing Saudi and American officials. According to the publication, this move is aimed at winning favor in the American Congress to …
Copper Catalysts Will Facilitate In-Situ Combustion
The technology of Kazan scientists can be used to develop difficult oil. Kazan Federal University has developed a new catalyst for heavy oil production based on organic copper salts. Specialists from the world-class Scientific Center (NCMU KFU) have proven that this substance increases oil recovery and stabilizes the combustion front …
Acquisition Fever Intensifies in US Permian Shale Basin
Mergers and acquisitions (M&A) are picking up pace in the Permian, the largest oil basin in the United States. The reason for the increase in the number of mergers and acquisitions is simple: large companies want the fastest way to replenish their reserves for production, compensating for the depletion of …
Saudi Arabia Will Continue to Voluntarily Reduce Production by 1 Million Bpd Until the End of the Year
Prior to this, the voluntary reduction was initially calculated for July, and then extended to August and September Saudi Arabia has decided to continue implementing measures to voluntarily reduce oil production by 1 million barrels per day (b/d) until the end of 2023. This was reported by the Saudi Press …
Trump Promised that the United States Will Surpass Russia and Saudi Arabia in Oil Production
According to the former President of the United States, the country will dominate the energy sector within a few months of his re-election as head of state. Former US President Donald Trump said that if he wins the presidential election, he will ensure that the country produces more oil than …
American Chevron is Ready to Drill New Wells in Venezuela
The American company wants to increase production in the Latin American country by another 65,000 bpd by the end of 2024 Currently, Chevron and Venezuela’s PDVSA together produce about 135,000 b/d. Washington’s permission to operate an American company in Venezuela is gradually raising the country’s oil production from its knees. …
How Many Years Will Black Gold Reserves Last? “Belorusneft” About the Potential of the Fields
Belorusneft aims to increase its geological resource base and compensate for the extracted volumes of black gold. Deputy General Director for Production Denis Vorobyov told reporters about this, BELTA correspondent reports. At the present stage, oil producers are increasing their oil production volumes every year. “Today on the agenda is …