Trump Promises to Increase Oil Production: “Drill, Baby, Drill!”
Trump is pouring out promises: when he becomes president of America, oil production will increase and the cost of energy will fall. The candidate for the post of American leader from the Republicans, Donald Trump, on Thursday again made campaign promises. At his press conference, he said that one of …
America Is Sitting on a “Downhole” Mine
Over one hundred and fifty years of oil and gas production in the United States, millions of decommissioned wells have accumulated across the country. And what they contain is a real Pandora‘s box of dangerous substances that threaten the well—being of local residents and the environment, writes Oilprice. Many of …
The Number of Drilling Rigs in the US Fell by 13% Compared to Last Year
The number of operating oil drilling rigs, a key indicator of future production, fell again in the US to 478, the lowest since 2021. The number of drilling rigs in the US has been steadily falling: in 2023, the decline was 20%, and in 2024, the decline continued. The reason …
US Oil Production Remained at 13.1 Million Barrels Per Day
Oil production in the United States for the week ending May 17 remained at the previous week’s level of 13.1 million barrels per day, according to the weekly review of the Energy Information Administration of the country’s Ministry of Energy. On average, over the past four weeks, oil production in …
The US Shale Industry is Burning More and More APG
Texas oil producers are trying to get rid of excess natural gas by flaring it. Regulator The Railroad Commission of Texas (RRC) last week approved 21 requests from operators, mostly in the Permian and Eagle Ford shale plays, for exemptions from the flaring ban. Moreover, the requested combustion volumes are …
American Shale Producers are Ramping up Drilling
Bloomberg writes that drillers in US shale regions are again trying to recover from the decline in activity by increasing the number of oil rigs According to Baker Hughes, the number of oil rigs in the US immediately increased by 6 pieces to 500. This is the largest weekly increase …
Washington Allowed the Oil Service Company to Work with Caracas to Close Contracts
US authorities have allowed Halliburton, Schlumberger, Baker Hughes and Weatherford to carry out transactions in Venezuela until May 16, 2024 The US Treasury has extended until May 16, 2024 the licenses of four international oil service companies that must complete their work in Venezuela. This also applies to working with …
To Retain Workers in the Permian Basin, Texas Schools will be Updated
Authorities will invest in upgrading Midland schools to attract and retain family oil shale workers in the community Voters in the US have approved a $1.4 billion bond sale to repair and expand the aging, overcrowded school system in Midland, Texas, the unofficial capital of US shale oil. The initiative …
PDVSA and Maurel&Prom Signed an Agreement to Develop Oil and Gas Fields in Venezuela
The Venezuelan state oil company PDVSA and the French Maurel&Prom (beneficiary of the Indonesian Pertamina) signed an agreement aimed at increasing oil and natural gas production in the western region of Venezuela. This was stated by PDVSA General Director P. Tellechea. the companies have agreed to a contract that focuses …
The US Department of Energy has Changed the Forecast for Oil Production in the Country for 2023-2024
The US Department of Energy slightly lowered the forecast for average oil production in the country for the current year and increased it for 2024, as follows from the monthly short-term forecast of the ministry’s Energy Information Administration (EIA). The Ministry of Energy lowered the forecast for oil production in …