Sentences with phrase «about oil production»

So when we talk about oil production slowing down and reversing, you're talking about a huge cost to the transportation sector.

Not exact matches

Its crude oil production in the Atlantic region fell by about 14 per cent due to the 10 - day suspension of its SeaRose floating production, storage and offloading vessel in January after an investigation into its response to a close call with an iceberg.

CEO Rob Peabody said Husky cut back heavy oil production by about 5,000 barrels per day in the first quarter and substituted mainly blended bitumen bought from other Alberta oilsands companies to send to its U.S. refineries in Ohio and Wisconsin or to the refining complex on the U.S. Gulf Coast.

In late August, PetroChina, that country's largest oil producer, announced it seeks to boost its overseas production to half its total output (from about a tenth currently) in less than a decade through acquisitions.

On Thursday, it announced it would reduce its production guidance for the year by about 10,000 barrels of oil equivalent per day to an average of about 315,000 boe / d, with exit production of about 335,000 boe / d, to account for lower heavy oil production, an advanced schedule for maintenance at its Tucker oilsands project and a slower ramp up in liquids - rich natural gas output from its BD Project in Indonesia.

The Brutus / Glider assets, which include a subsea production system, have an estimated production capacity of about 25,000 barrels of oil a day, according to Reuters.

According to the U.S. Energy Information Administration, Norway produces 1,602,000 barrels of crude oil a day, and its refinery capacity is 319,000 bbl / day — about 20 per cent of crude oil production.

The comparable figures for Canada are 3,136,000 bbl / day of crude oil production and 1,918,000 bbl / day of refinery capacity — about 61 per cent of crude oil production.

In February, OPEC anticipated demand for its members» oil in 2013 would dip by about 100,000 barrels per day compared to previous forecasts, mainly because of increased production in North America.

In the intervening years since TransCanada originally proposed Keystone XL, U.S. oil production has grown by more than 80 percent, from just over 5 million barrels per day to about 9.6 mb / d today.

He says that Canadian oil production is projected to double over the next two decades to about six billion barrels, but finding markets and getting the oil to market is not assured.

The pace of oil and gas production gains has consistently surprised forecasters since horizontal drilling and hydraulic fracturing, better known as «fracking», were pioneered in U.S. shale rock formations about ten years ago.

Production from shale has helped keep a lid on crude oil prices at about $ 120 a barrel, giving western countries leverage to impose sanctions on Iran, a key supplier.

Disruptions in Venezuela's oil industry can have outsize impact on the country, as oil brings in about 95 % of its export revenue, which has been used to purchase imports like food and medicine as domestic production dries up.

She agrees that this jar, by itself, proves nothing about the environmental impact of «fracking,» the drilling technology largely responsible for America's boom in oil and gas production.

CNBC's Jackie DeAngelis talks about what's moving the oil market and why production isn't falling.

Cenovus said sales volumes in the fourth quarter were about seven per cent lower than oilsands production due to the two - week shutdown and subsequent volume constraints on TransCanada Corp.'s Keystone pipeline following an oil spill in November in South Dakota.

At Exxon, weak refining results were coupled with lower oil production, fueling concern about Chief Executive Officer Darren Woods» turnaround plan for the world's largest publicly traded oil producer.

PDVSA only accounts for about half of the nation's oil production on its own.

Oil prices, which have recently received some support from reports about discussions of another possible extension of the OPEC production cut deal, remained stable following the release of the EIA report, with WTI trading at US$ 48.75 a barrel and Brent crude at US$ 54.62 a barrel.

When asked about Canadian oil sands production, Mulva said those operations would be part of the upstream company.

By keeping prices below the marginal cost of unconventional production (about $ 75 per barrel), OPEC hopes that expensive oil production will decline along with the fortunes of the companies engaged in these plays.

The S&P 500 bounced 1.6 percent Wednesday to 1,926, as oil jumped more than 5 percent on more reports about a preliminary accord among some major oil producing nations to freeze production.

Crude oil sold off on tariff fears but rallied back as Saudi Arabia is signaling that they are just crazy about production cuts and want an extension.

Canadian and global petroleum companies have since spread mines and deep - drilling projects across northern Alberta's gargantuan reserve — oil sands production has nearly quadrupled since 2000 to about 2.5 million barrels per day.

When we see huge dump trucks on TV in the oil sands we tend to think about all the investment and employment oil sands production is creating.

Both OPEC and Russia added that they were about halfway finished with clearing the global oil glut, and encouraged members to remain vigilant and set upon their task of reining in production.

Canada's energy industry is skeptical that major new pipelines can be built in Canada unless the feds make it easier to win approval, and that gives oil producers headaches about planning for future production.

CALGARY — Canadian Natural Resources Ltd. says it choked back heavy oil production by about 17,000 barrels per day in the first quarter to avoid selling at low prices it...

It notes, for example, that about 55 % of the world's current oil output comes from countries Freedom House categorizes as «not free,» a substantial risk that makes America's resurgence in oil production all the more important.

Among commodities, oil prices moved higher as fears about rising US shale production abated somewhat, and market participants began giving more weight to the effectiveness of supply cuts by members of the Organization of the Petroleum Exporting Countries and several other large oil - producing countries.

Production would be about 290,000 barrels of oil and gas equivalent per day, with reserves sitting at 1.2 billion barrels of oil equivalent.

Global crude - oil production has risen about 30 percent this century; expanding from around 75 million barrels per day in 2000 to 95 million barrels in 2016, with the top 10 - producing countries accounting for more than 60 percent of the total production.

Shaken by shale oil production in the United States, softening demand from China and Europe, and rising global concern about climate change, Canada's tar...

However, the Canadian Energy Research Institute has indicated that oil production in Canada is likely to scale up by about 600,000 barrels per day in 2017 and by another 200,000 next year, as a number of projects that were being developed prior to the oil - price slump are nearing completion.

If there's a bright spot for the province, however, it's that the ongoing disruption of Alberta oil sands production — estimated by the Conference Board of Canada to be about 1.2 million barrels a day, comprising nearly $ 1 billion in economic activity — has contributed to a rally in global oil prices that could give producers, and therefore the Alberta economy, a badly - needed lift once production is finally back on - line (assuming, of course, the fires are eventually extinguished and oil sands operations escape serious damage).

On Thursday, it announced it would reduce its production guidance for the year by about 10,000 barrels of oil equivalent per day to about 335,000 boe / d to account for lower heavy oil production, an advanced schedule for maintenance at its Tucker oilsands project and a slower ramp up in liquids - rich natural gas output from its BD Project in Indonesia.

Tensions between Iran and Saudi Arabia triggered doubts about the success of the OPEC + oil production cut deal two years ago when it was first being hatched.

Overall, crude ended the week down about 4 %, with the U.S. oil benchmark price WTI settling just above $ 45 per barrel on renewed supply worries due to surging U.S. production.

While the US Energy Information Administration expects the US crude oil production to increase about 29,000 bpd this year and 57,000 bpd next year, Rystad Energy believes that the growth will be 100,000 bpd each month for rest of this year and into 2018, if oil prices sustain the $ 50 - $ 55 per barrel levels, reports Reuters.

But the uniqueness of the business model, the hidden value of the land on the books and the incremental benefit shareholders receive from higher oil and gas production and prices make it worth writing about.

According to the Russian website Finanz, citing the International Energy Agency, the Russian oil industry is about to see its production peak.

US Shale Oil Production: Last week saw a spate of stories talking about emerging bottlenecks that could slow or even stop increasing production from the PermProduction: Last week saw a spate of stories talking about emerging bottlenecks that could slow or even stop increasing production from the Permproduction from the Permian Basin.

The International Energy Agency came out with an «explosive» report talking about «explosive» production growth as the United States will become the undisputed leader in global oil production.

Nigeria and Libya could bring hundreds of thousands of barrels of daily oil production back onto the market in the next few months, but there is yet one more downside risk to the market about which few people are talking.

The National Petroleum Directorate said March oil production averaged 1.5 million b / d, approximately 5 percent lower than the NPD's forecast, and about 3.0 percent below the forecast this year.

Though recent rumours have abounded about a potential production freeze by Russia, Saudi Arabia and other major producers, it has so far failed to materialize or have long - term effects on oil prices.

Chevron Corp. said it's cutting about 10 percent of its workforce and scaled back its long - term production target amid the worst oil - market slump since the 1980s even as the company posted third - quarter profit that surpassed analysts» expectations.

While the oil market has focused on news about production cuts from OPEC and non-OPEC countries, a new oil price risk has been developing.

But in a major shift away from the previous Saudi - led policy of maintaining production to squeeze high - cost US shale - oil producers, OPEC countries agreed to target a lower level of 32.5 — 33.0 million barrels a day, although there was some skepticism about the absence of details on which members would curb output and by how much, which were delayed until the next meeting in November.