Drilling & production

The company also plans to invest around US$2.5 billion/y to enhance oil production by 50 000 bpd over the next few years.

In June, Russia promised to meet its OPEC+ oil production targets after pumping too much oil in May.

As of 8:00 a.m. eastern time on 26 September, Hurricane Helene was expected to make landfall as a Category 3 hurricane on the eastern part of the Florida Panhandle late Thursday 26 September with sustained winds of 115 mph, creating the potential for significant disruptions to energy infrastructure.

It was reported earlier this week that several US oil companies were working to evacuate their staff from oil production platforms.

The company emerged victorious over competing bids from industry giants bp and EOG Resources.

Saudi Arabia is preparing to increase its oil output to regain its market share, with abandoning its required oil price part of the plan.

Multiple energy companies, both domestic and international, have submitted bids for the ninth round of India's Open Acreage Licensing Policy (OALP-9), as confirmed by the Directorate General of Hydrocarbons (DGH), the country's upstream regulator.

Reuters has reported that the US Federal Trade Commission is expected to greenlight US oil producer Chevron's purchase of Hess as soon as this week, two people familiar with the matter said, leaving Exxon Mobil's challenge to the US$53 billion deal as its final hurdle.

Caterpillar Oil & Gas has announced that North American pressure pumping operators using its Tier 4 DGB system reduced diesel consumption by approximately 100 million gallons in 2023.

Challenger, with primary assets in the South American nation, has now received government approval to move the AREA OFF-1 licence to Chevron.

The addendum is for the Azeri-Chirag fields and the deepwater portion of the Gunashli field (ACG) in the Azerbaijan sector of the Caspian Sea.

China National Offshore Oil Corporation (CNOOC) has announced the commencement of production at the Liuhua 11-1/4-1 oilfield secondary development project.

Saudi Arabia exported 5.7 million bbl/d of oil in July, the lowest level since August 2023, official data has revealed.

The US will continue to supply natural gas to North-West Europe as the region continues its decarbonisation efforts.

Initial development of Unit 1B formally approved and on track for 1Q25. Export of initial oil cargo on track for end of 2024.