SLB Increased Quarterly Revenue by 20%
U.S. oilfield services company SLB (formerly Schlumberger) increased its net income in 2Q 2023 by 7% to $1.03 billion compared to $959 million in the same period in 2022. This is stated in a message published on July 21 on the company’s website. Earnings per share rose to $0.72 from …
Oil Production in the Largest Oil and Gas Regions of the US Will Decrease in August
Oil production in the main oil and gas producing regions of the United States, in which a significant part of the production is shale oil, will fall in August compared to the current month by 18 thousand barrels per day, or 0.2%, to 9.397 million barrels, the Energy Information Administration …
U.S. Drilling Rig Count Rises For First Time in Ten Weeks
The number of operating oil and gas drilling rigs in the United States in the reporting week increased for the first time in the last 10 weeks. This was facilitated by the strongest increase in the number of active gas drilling rigs since October 2016. This was announced on Friday …
U.S. Oil Production Rose by 200,000 Barrels in the Week to June 2
U.S. oil production for the week ended June 2 increased by 200,000 barrels per day to 12.4 million barrels per day, according to a weekly review by the Energy Information Administration of the country’s Energy Department. On average, over the past four weeks, US oil production amounted to 12.275 million …
The Number of Oil and Gas Drilling Rigs in the World Decreased in May
The number of active oil and gas drilling rigs worldwide fell by 25 in May from April, or 1.4%, to 1,783, according to data from US oil and gas service company Baker Hughes. In annual terms, the number of operating drilling rigs increased by 155, or 9.5%. In the US, …
USA Extends Permission for Oil Companies to Transact with PDVSA
The US Treasury has once again extended permission for four US oilfield services companies to operate in Venezuela. The 8L General License allows Halliburton, Schlumberger Limited, Baker Hughes Holdings LLC and Weatherford International to retain Venezuelan assets until November 19 and enter into transactions with the local state-owned company PDVSA …
U.S. Imposes Sanctions Against Russian Oil, Gas Research Organisations & Service Companies
The United States included more than 20 Russian organizations that specialize in services and research for oil, gas and chemical companies in its sanctions list on Friday, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) reported on its website. Sanctions have been extended to the following oil and …
The US Department of Energy Predicted an Increase in Oil Production in the Country in June
Oil production in the main oil and gas producing regions of the United States, in which a significant part of the production is shale oil, will rise in June compared to the current month by 41 thousand barrels per day, or 0.4%, to 9.332 million barrels, the Energy Information Administration …
The Number of Oil and Gas Drilling Rigs in the World Decreased in April
The number of active oil and gas drilling rigs worldwide fell by 71 in April from March, or 3.8%, to 1,808, according to data from US oil and gas service company Baker Hughes. In annual terms, the number of operating drilling rigs increased by 205, or 12.8%. In the United …
USA Expects OPEC to Increase Oil Production Next Year
The US Department of Energy expects OPEC oil production to fall by 300 thousand barrels per day in 2023, however, if the current production cut in OPEC + ends, in 2024 the organization will be able to increase liquid hydrocarbon production by 600 thousand barrels per day, follows from the …