Tag: oil production

• Saturday, May 11th 2019 - 08:31 UTC

  YPF focusing on shale oil to increase production growth

  

  YPF, the largest oil and natural gas producer in Argentina, is focusing on shale oil for production growth as a glut slows natural gas output, managers at the state-backed company said Friday.

• Monday, May 6th 2019 - 09:30 UTC

  Petrobras oil production fell 3.5% during the first quarter compared to a year ago

  

  Petrobras oil production fell 3.5% in the first quarter from the same period a year before, according to Brazil’s oil regulator ANP, which attributed the fall to a number of scheduled and unscheduled stoppages.

• Saturday, April 6th 2019 - 10:00 UTC

  Blackouts hit Venezuela oil output, and clog Orinoco basin tar-oil pipelines

  

  Rolling blackouts across much of Venezuela that started on March 7 paralyzed most of the country’s oil wells and rigs, which have slowly come back online. Oil output averaged less than 600,000 bpd during the blackouts, the people said, who asked not to be identified because the information isn’t public.

• Friday, March 8th 2019 - 09:11 UTC

  Premier Oil reports 2018 profit as a result of record production

  

  UK-based oil and gas firm Premier Oil with interests in the Falkland Islands has announced its full-year results for 2018, reporting a post-tax profit hike to US$ 133.4m as a result of record production. These full-year results are a ‘return to profitability’ from 2017’s full-year loss of US$ 253.8m.

• Friday, February 22nd 2019 - 09:24 UTC

  Brazilian oil production challenges OPEC' attempts to balance the market and prices

  

  While everyone is talking about how surging U.S. crude oil production will offset a large part of the ongoing OPEC/non-OPEC production cuts, there are other oil producers not taking part in the OPEC+ deal and poised to see their output jump this year.

• Thursday, December 6th 2018 - 09:47 UTC

  Venezuela importing 300.000 bpd of refined products to ease fuel shortage

  

  Venezuela this month plans to import over 300,000 barrels per day (bpd) of refined products to ease domestic fuel shortages caused by hobbled refineries and need to prioritize exports, according to internal documents, reports Reuters.

• Wednesday, December 5th 2018 - 08:39 UTC

  Brazil's oil and gas output rose strongly in October after five flat months

  

  Brazil's domestic crude oil output rose for the first time in five months in October as production from the subsalt region continued to grow and fewer floating production units were idled by maintenance shutdowns during the month.

• Saturday, November 24th 2018 - 08:59 UTC

  Oil price slumps 8% to lowest in more than a year: Crude supply grows faster than demand

  

  Oil prices slumped up to nearly 8% to the lowest in more than a year on Friday, posting the seventh consecutive weekly loss, amid intensifying fears of a supply glut even as major producers consider cutting output. Oil supply, led by U.S. producers, is growing faster than demand and to prevent a build-up of unused fuel such as the one that emerged in 2015, the Organization of the Petroleum Exporting Countries is expected to start trimming output after a meeting on Dec. 6.

• Tuesday, October 30th 2018 - 08:45 UTC

  YPF plans US$ 4bn annual investment in oil and gas production

  

  Argentina's state-controlled oil company, YPF, will significantly boost oil and gas production, investing between US$4 and US$ 5 billion per year through 2022, Chief Executive Daniel Gonzalez said. The plan is to raise production by between 5and 7% per year, with the largest increase in the Vaca Muerta formation, one of the world's largest reserves of shale oil and gas.

• Friday, September 28th 2018 - 08:47 UTC

  Oil majors to bid for Brazil's offshore potential despite electoral uncertainty

  

  Oil majors are set to gather in Rio de Janeiro this Friday to unveil bids for stakes in Brazil’s high potential offshore areas ahead of elections that are casting a cloud of uncertainty over the industry.