Remove Barrel Remove Casing Remove Crude Oil
article thumbnail

OPEC+ Meeting in December: quota busting could wident the existing rifts!

Crude Oil Futures

The departure of Angola from the alliance is a case in point. The analysts at S&P Global disclosed last week that the UAE has been exceeding the production by 700,000 barrels more than what it agreed to, with the OPEC+, from January to October.; That, however, is not the end of the story.

Oil 52
article thumbnail

U.S. Supreme Court Rules that Punitive Damages Must Equal Compensatory Damages in Federal Maritime Law

The Energy Law

involved a class action that was filed by commercial fisherman and native Alaskans against Exxon and its tanker captain for economic losses suffered as a result of the now infamous Exxon Valdez oil spill that occurred in 1989. V) preempts punitive damages awards in maritime spill cases. Baker, et al. Exxon spent $2.1 816, 33 U.S.C.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Nigeria Oil Industry Overview

Drillers

Production grew fast, and today, Nigeria pumps close to 2 million BPD, which makes it the largest producer of crude oil in Africa. Nigeria joined OPEC in 1971 before it even had its own state oil company. According to estimates from human rights groups, millions of barrels have leaked or spilt in the Niger Delta over the years.

Oil 52
article thumbnail

U.S. Fifth Circuit Greenlights Contribution Action for Purely Economic Damages Under Oil Pollution Act (OPA)

The Energy Law

A tug owned by Marquette collided with an oil-carrying barge owned by Settoon as the Marquette tug attempted to overtake the Settoon flotilla. As a result of the collision, approximately 750 barrels of light crude oil discharged into the river. Following the spill, the U.S.

Oil 40
article thumbnail

Whitecap Resources, Veren to combine to form C$15 billion Canadian energy giant

Oil & Gas 360º

Refer to Barrel of Oil Equivalency and Production & Product Type Information in this press release for additional disclosure. Barrel of Oil Equivalency “Boe” means barrel of oil equivalent. Crude oil therefore refers to light oil, medium oil, tight oil and condensate.

Energy 130
article thumbnail

ConocoPhillips Q4 2024 Earnings Call: Key Updates on the Permian Basin

Oil Gas Leads

The company reported 833,000 barrels of oil equivalent per day (boe/d) in the Permian for Q4 2024, attributing its success to significant efficiency improvements. “We dont see anything different from the acquisition case. Potential Impact of Tariffs and Permian Crude Pricing The potential U.S.

Basin 52
article thumbnail

President Trump's Putin Call Shakes Europe to Its Core

Crude Oil Futures

in case of an attack, implicitly referring to threats from Russia. Meanwhile, oil prices have been hovering just above the psychologically significant $70 per barrel threshold. Under these circumstances, it seems unlikely that oil prices will breach the $80 per barrel ceiling.

IT 52