article thumbnail

Baghdad Reaffirms Full Compliance with OPEC+ Agreement

Iraq Business News: Oil & Gas

According to what the Ministry described as data issued by secondary sources approved by OPEC , Iraq's crude oil production in January 2025 stood at 3.999 million barrels per day (bpd), reflecting adherence to agreed production levels. Haitham Al Ghais, OPEC Secretary-General.

Oil 40
article thumbnail

Texas Supreme Court Holds that Add-Back Provision in Oil and Gas Lease Required Royalties to be Paid on Prices in Excess of the Producers’ Gross Proceeds

The Energy Law

Specifically, the lessors discovered that the lessees sold oil under contracts that calculated the sales price by taking an index price at market centers downstream from the point of sale and subtracting eighteen dollars per barrel for the purchaser’s anticipated post-sales costs.

Royalty 98
Insiders

Sign Up for our Newsletter

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

article thumbnail

HISTORY OF SPILLS: TC Energy’s Keystone pipeline (22 SPILLS: 2010-2022)

Adrian - Oil & Gas

The Keystone 1 pipeline carries up to 720,000 barrels per day of tarsands from Alberta, Canada to refineries in Texas and Illinois.) Obama and Pres. TC Energy oil spill PR oil discharge 12-9-22 (Photo: U.S. EPA) December 8, 2022: PHMSA issues Corrective Action Order to TC Energy re: Dec.

article thumbnail

What 2024 Taught Us: From Offshore Discoveries to Net Zero Ambitions, What Mattered Most

Rextag

ENERGY SECURITY: THE CORNERSTONE OF GLOBAL STABILITY Fact: Global primary energy demand surged to 301 million barrels of oil equivalent per day (mboe/d) in 2023, and projections indicate it will rise to 374 mboe/d by 2050, marking a 24% increase over three decades. Record U.S. Shale Output: U.S. LNG Export Dominance: U.S.