Crude oil prices climb on Monday following a weekend attack on a Saudi oil facility by Yemeni. The oil market was jolted in mid-September 2019 following a drone attack on Saudi Arabia’s oil processing facilities. The attacks, which were claimed by Iranian-backed Houthi rebels from Yemen, caused widespread damage and panic across the industry. The […]
DUBAI, United Arab Emirates — Drones launched by Yemen’s Houthi rebels attacked a massive oil and gas field deep inside Saudi Arabia. The attack on the Shaybah oil field, which produces some 1 million barrels of crude oil a day near the kingdom’s border with the United Arab Emirates Read the full article […]
Oil prices were little changed on Monday as expectations that major producers would continue to reduce global supplies. The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, have agreed to cut 1.2 million barrels per day (bpd) since Jan. 1. He said fears of a global economic downturn were “exaggerated,” and […]
Occidental Petroleum and Colombia’s Ecopetrol have announced a $1.5 billion joint venture to develop acreage in the Midland Basin. The joint venture is comprised of 97,000 net acres of Occidental’s holdings. This is across Andrews, Ector, Glasscock, Howard, Martin, Midland, Reagan, and Upton counties. The acreage includes 4,700 gross locations with rights to multiple benches. […]
Saudi Arabia has said it planned to maintain its crude oil exports below 7 million barrels per day in August and September to bring the market back to balance and help absorb global oil inventories The United Arab Emirates also will continue to support actions to balance the oil market, the country’s energy minister Suhail […]
Oryx Midstream Services, the largest privately-held midstream crude operator in the Permian basin. Upon completion of the remaining part of the system under construction, Oryx’s total transportation capacity will exceed 900,000 barrels per day and access multiple takeaway options. The partnership is the latest in a series of investments undertaken by QIA across the US […]
Natural WV oil and gas production gas production in the state rose to 1.8 trillion cubic feet in 2018 from 1.5 trillion cubic feet in 2017, a year-over-year increase of 17 percent. West Virginia household consumes about 72 thousand cubic feet of natural gas per year,” she said. “We produce enough gas in one day […]
The Big Oil companies Exxon Mobil and Chevron are keeping their promises to dominate the Permian Basin Exxon Mobil has, by far, become the Permian’s most active driller with more than 50 rigs operating in the West Texas oil field. It is increasing production thereby nearly 90 percent in 12 months. Chevron, along with Occidental […]
This makes sense: since 2008, U.S. crude oil and gas production have respectively boomed 150% to 12.3 million b/d and 60% to 90 Bcf/d. The Great American Oil And Natural Gas Pipelines get approved in the first place because rising usage demands it. Originating in Texas, we track nearly 40 pipelines covering 11,000 miles either […]
The shale revolution has demonstrably increased the production of crude oil from the U.S. It has given the country the title of the world’s largest oil producer. As an effect, it lasts only briefly. Do you know about the increase in output from the Permian Basin? It is located in West Texas and Southeastern New […]
