U.S. crude oil production is on track to reach a record average of 13.8 MMbpd in 2026, driven by continued Permian basin growth and rising output from new projects in the federal Gulf of America, according to the U.S. Energy Information Administration‘s latest Short-Term Energy Outlook (STEO). The forecast would surpass the previous annual record of 13.7 […]
Entering peak hurricane season, offshore operators face the possibility of severe weather disrupting operations. In September 2024, unplanned storm-related outages disrupted 16% of total crude oil production in the federal Gulf of America/Mexico. While operators can’t control the path or severity of a storm, they can gain a clearer understanding of critical equipment health before it arrives, […]
Despite the challenges posed by war, sanctions, and trade restrictions, Iran’s Ministry of Oil maintained crude oil production and exports, achieving approximately 60% of the annual oil revenue target in the first months of the Iranian year 1405 (started late March 2026). The ministry generated $18 billion in oil revenue, including $11.5 billion during the war and $6.5 billion during the ceasefire, while transferring around $11 billion to the state treasury.
Spain’s Repsol will return to Venezuela after it signed a new deal with the Venezuelan government, with plans to increase crude oil production in the country by 50% from current levels.
The Ghanaian government has announced measures to halt declining crude oil production and restore investor confidence in the petroleum sector after output fell 32 percent between 2019 and 2024. Production dropped from 71.4 million barrels in 2019 to 48.2 million barrels in 2024, according to Public Interest and Accountability Committee (PIAC) reports. The decline has […]
Declining crude oil production in Ghana spanning a four-year period will be the subject for discussion at a two-day technical consultative workshop in Accra.
The Public Interest and Accountability Committee (PIAC) in collaboration with its partners – Kwame Nkrumah University of Science and Technology (KNUST), Ministry of Energy (MoEn), Ghana National Petroleum Corporation (GNPC), Petroleum Commission (PC) and Ghana National Gas Limited Company (GNGLC), is hosting a 2-day technical consultative workshop on16th and 17th October 2024 in Accra.
An oil theft situation assessment delegation deployed in the Niger Delta by President Bola Tinubu discovered an illegal oil connection on Saturday.
The Minister of State, (Oil) Petroleum Resources, Senator Heineken Lokpobiri has assured that Nigeria will witness increase in oil production on a sustainable basis in the nearest future.
After an unexpected dip in the month of April, Nigeria’s oil production grew by 14.4 percent in May to average 1.43 million barrels per day, latest figures from the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, have shown.