Energy Central

MARCH 11, 2024

million barrels a day in 2024, it's currently on the up. It's no secret that oil and gas is a boom-and-bust industry, and with production projected to increase to 13.7 But this won't last forever.

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Rextag

DECEMBER 23, 2024

As the year draws to a close and the festive season surrounds us with cozy blankets, steaming mugs of cocoa, and the sparkle of holiday lights, its the perfect time to pause, reflect, and unwrap the biggest highlights of 2024. This deal boosted Exxons daily output by over 700,000 barrels of oil equivalent per day (boe/d).

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Energy Transfer

FEBRUARY 12, 2025

On February 11, Energy Transfer reported its financial results for the fourth quarter and year ended 2024 with an earnings call hosted by co-CEOs Tom Long and Mackie McCrea. Mackie McCrea, co-CEO, Energy Transfer Full Year and Q4 2024 Financial Highlights* More highlights from the earnings call are below. billion compared to $3.6

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Oil & Gas 360º

MARCH 10, 2025

Libyas NOC is working with IOCs Repsol, bp, TotalEnergies, ConocoPhillips and more to increase output to two million barrels per day (bpd). Boosting production Major oil producers in Africa are striving to boost production and NOC-IOC collaboration is at the forefront. Algerias Sonatrach will increase hydrocarbon production by 2.5%

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Permian Basin Oil and Gas Magazine

MARCH 7, 2025

25 he expects no change to the capital budget of about $2 billion from 2024. Average lateral lengths in 2025 are forecast at 10,000 feet (9,300 in 2024). Fourth quarter production was 171,300 barrels of oil per day (368,400 boed). Co-CEO James Walter said Feb.

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Valor

FEBRUARY 24, 2025

per barrel, while WTI dropped 28 cents to $70.12 per barrel, following a $2 decline on Friday. billion in 2024 from $13.4 million barrels per day (bpd) in 2024 to 13.6 The terminal will load up to 1 million barrels per day onto the worlds largest tankers, boosting U.S. Brent crude fell 20 cents to $74.23

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Rextag

FEBRUARY 13, 2025

Financial Performance: 4Q and Full-Year 2024 Results BPs latest financial disclosures offer a revealing snapshot of its current challengesand opportunities: Underlying Replacement Cost Profit 4Q 2024 : $1.17 billion 3Q 2024 : $2.27 Cash Flow from Operations 4Q 2024 : $7.43 billion 3Q 2024 : $6.76

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Energy Central

JUNE 24, 2024

The International Energy Agency (IEA) recently released its Oil 2024 report, which examines the global dynamics for oil supply security, refining, trade, and investment. ” The report cites the.

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Oilholics Synonymous Report

JANUARY 29, 2025

While The Oilholic can personally testify that Metafuels' offer is what it says on the tin, or shall we say an eagerly-awaited barrel of Aerobrew - the start-up is neither short of belief nor backers. Gaurav Sharma, December 18, 2024. For context, you'd mostly find that e-sustainable aviation fuels or e-SAFs start-ups (i.e.

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Iraq Business News: Oil & Gas

FEBRUARY 6, 2025

DNO ASA , the Norwegian oil and gas operator, today reported 2024 revenues of USD 667 million on the back of what it described as " stellar production " in the Kurdistan region of Iraq. Sales prices averaged USD 35 per barrel with payments deposited into DNO's international bank accounts ahead of deliveries.

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Energy Central

DECEMBER 26, 2023

On November 30, 2023, OPEC (Organization of the Petroleum Exporting Countries) and its allies, collectively known as OPEC+, agreed to cut oil production by 1 million barrels per day (bpd) starting in January 2024. This decision was driven by several factors, but it might be helpful to consider OPEC’s motivations.

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Reporting Oil and Gas

NOVEMBER 28, 2023

million barrels, according to Finance Minister Ken Ofori-Atta. Addressing Parliament while presenting the 2024 budget and economic policy, the finance minister detailed that the Greater Jubilee field contributed 21.94 million barrels, the TEN field produced 5.02 million barrels, and the Sankofa-Gye Nyame field yielded 8.46

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Rextag

NOVEMBER 18, 2024

A Year of Growth, but Slower Than Before The International Energy Agency (IEA) has revised its forecast for global oil demand in 2024, projecting growth of 921,000 barrels per day (bpd) a slight increase from earlier predictions of 862,000 bpd. million barrels a day increase seen in 2023. million-barrel increase.

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Oil Gas Leads

MARCH 14, 2025

Following its 2024 acquisition of Pioneer Resources , ExxonMobil has solidified its position as the largest producer in the Permian Basin , with 1.3 million barrels per day (bpd) accounting for over 16% of the basins total production. Unlocking the Permians Untapped Potential The Permian Basin remains a critical driver of U.S.

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Oil Gas Leads

MARCH 10, 2025

Year-Over-Year Trends: Industry Adjustments Compared to the same period in 2024, the total U.S. million barrels per day (bpd) in 2024 to around 13.6 On the natural gas side, the EIA predicts a 73% increase in spot gas prices in 2025, which could prompt producers to boost drilling activity following a 14% price drop in 2024.

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Oil Gas Leads

MARCH 11, 2025

” The Pion Midstream acquisition in 2024 reinforced Enterprises position in sour gas processing. Jim Teague on Export Growth: “We exported over 70 million barrels of hydrocarbons in December. Our goal is to export over 100 million barrels a month by 2027.” oil and gas production. ” The rise in U.S.

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Iraq Business News: Oil & Gas

FEBRUARY 25, 2025

The initial phase includes oil and gas production exceeding three billion barrels of oil equivalent, while the wider resource opportunity across the contract area is believed to include up to 20 billion barrels of oil equivalent. We thank the Government of Iraq for the trust and privilege to deepen our cooperation in-country. "

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Oil Gas Leads

MARCH 8, 2025

During its Q4 2024 earnings call , ONEOK outlined significant infrastructure expansions, acquisitions, and future growth opportunities in the Permian. West Texas NGL Pipeline Expansion The West Texas NGL pipeline is being expanded to 740,000 barrels per day (bpd) to accommodate increasing NGL production.

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Rextag

FEBRUARY 17, 2025

The International Energy Agency (IEA), once regarded as the gold standard for energy forecasting, now faces significant criticism for its 2024 World Energy Outlook (WEO). If GDP grows at the historical rate, oil demand would be at least 10 million barrels per day (mmbd) higher by 2035 than the IEA forecasts. According to Mark P.

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Oilholics Synonymous Report

OCTOBER 4, 2024

The last few weeks have been relentless in terms of geopolitical developments and their impact on the oil market - albeit a somewhat oversupplied one with plenty of barrels to more than meet global demand. To email: journalist_gsharma@yahoo.co.uk Gaurav Sharma 2024. Photo II: Gaurav Sharma on BBC News on October 3, 2024 BBC.

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Oil & Gas 360º

MARCH 6, 2025

Still, Mexico exported more than 600,000 barrels per day (bpd) on average to the United States in 2024, according to data from the U.S. The trade wars in North America began in earnest earlier this week after the U.S. Energy Information Administration (EIA). But the 25% U.S.

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Oil Gas Leads

MARCH 7, 2025

ConocoPhillips provided significant insights into its Permian Basin operations during its Q4 2024 earnings call, highlighting efficiency improvements, capital discipline, non-core asset sales, and potential growth opportunities tied to increasing U.S. power demand. “At flat activity, we can grow the Lower 48 business. .”

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Energy Transfer

DECEMBER 23, 2024

2024 is almost in the books! As we wind down the remaining days until the New Year, lets take a look back at some of the highlights of 2024. The two-year partnership began with the 2024 season with Energy Transfer and Sunoco logos displayed on the teams car for the three Formula 1 Grand Prix races in the U.S.

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Rextag

FEBRUARY 24, 2025

Over the past two years, 2023 and 2024, production levels have soared, investment strategies have shifted, and new regulatory frameworks have emerged. 2024 Production: 6.3 2024 Production: 6.3 MMBbl/d production increase in 2024. However, in late 2024, the Matterhorn Express pipeline came online, adding 2.5

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Oil Gas Leads

MARCH 11, 2025

oil and gas production , with Energy Transfer reporting a 9% increase in legacy Permian throughput in 2024. LNG, LPG, and NGLs is skyrocketing, with Energy Transfer setting record export volumes in 2024 from its Nederland and Marcus Hook terminals. Marcus Hook Terminal Expansion Adding a 900,000-barrel refrigerated ethane storage tank.

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Rextag

JANUARY 16, 2025

STRATEGIC DIVESTMENT IN THE D-J BASIN Civitas D-J Basin assets, which produced an average of approximately 160,000 barrels of oil equivalent per day (boe/d) in the third quarter of 2024, could be sold in whole or in parts. However, Civitas has not confirmed these reports or responded to inquiries for comment.

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Oil & Gas 360º

MARCH 10, 2025

Refer to Barrel of Oil Equivalency and Production & Product Type Information in this press release for additional disclosure. Leading Low Decline Light Oil Position in Saskatchewan : The combined company becomes the second largest producer in Saskatchewan with consolidated assets in west and southeast Saskatchewan.

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Oil Gas Leads

MARCH 8, 2025

During their Q4 2024 earnings call , the company outlined how strategic acquisitions, processing expansions, and pipeline investments will drive growth in their Midstream business and position them to capitalize on rising NGL and crude demand. This move is a response to surging NGL production in the Permian.

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Valor

MARCH 10, 2025

per barrel and WTI dropping 40 cents to $66.64, marking WTIs seventh consecutive weekly lossthe longest streak since November 2023. Meanwhile, US crude production averaged 13.508 million barrels per day for the week ending February 28, 2025, with WTI trading at $67.17 per barrel (up 1.22%) and Brent at $70.41 In response, U.S.

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Rextag

JANUARY 6, 2025

As we step into 2025, reflecting on the turbulent, transformative energy landscape of 2024 is essential. Energy security was the recurring theme in 2024, dominating discussions in boardrooms, elections, and global summits. Renewables made impressive strides in 2024, but the journey had obstacles. Record U.S. Shale Output: U.S.

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Oil & Gas 360º

MARCH 14, 2025

a barrel at 1322 GMT, after settling 1.5% a barrel, up 25 cents, or 0.38%, after closing down 1.7% The International Energy Agency warned on Thursday that global oil supply could exceed demand by around 600,000 barrels per day this year, due to growth led by the United States and weaker than expected global demand. on Thursday.

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Crude Oil Futures

FEBRUARY 26, 2025

per barrel, and Brent crude at $72.81. Liquefied natural gas (LNG) prices have also decreased, following a doubling from what it was in the last quarter of 2024. However, a significant drop in oil prices below $60 per barrel would pose substantial revenue challenges for oil-producing nations, reminiscent of the 2012 downturn.

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Oilholics Synonymous Report

JANUARY 20, 2025

Drill the Americans will, and already are, pumping north of 13 million barrels per day of crude oil. This will likely keep the Brent front-month futures contract around $80 per barrel. Destroying all premature political obituaries about him and opponents of descriptions, the Trump 2.0 That's all for the moment folks.

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Enverus

MARCH 7, 2025

Al Salazar identifies several factors contributing to this trend: Oil consumption: Oil demand reached an all-time high in 2024, growing by 1 million barrels per day from 2023. Global natural gas demand also likely reached an all-time high in 2024. Instead, oil and gas investment has been rewarded by shareholders.”

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Valor

FEBRUARY 11, 2025

Read more Europes oil demand may rise as gas hits $100 per barrel Summary : Europe’s oil demand may increase as natural gas prices surge to an oil-equivalent of $100 per barrel, making oil a more cost-effective alternative. The spike in gas prices is driven by supply constraints and higher demand, especially in winter.

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Oil & Gas 360º

MARCH 13, 2025

million barrels per day (bpd) in 2025 and climb further to 13.76 producer OXY Energy Services warned that oil prices below $60 a barrel would likely force small drillers to reduce activity. oil prices are currently around $68 a barrel. million bpd in 2026. But there is an obvious problem here. The CEO of U.S. Benchmark U.S.

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Oil & Gas 360º

MARCH 10, 2025

Trumps policies on trade and foreign policy have, however, threatened to drive up the cost of millions of barrels of oil that U.S. Crude prices hit a three-year low below $70 a barrel this week after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) agreed to go ahead with a planned April output increase.

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