Upstream news

US crude oil exports in 2024 surpassed the previous record set in 2023, exceeding an annual average of 4.1 million bpd. Despite this new record, crude oil export year-over-year growth slowed to 1% in 2024, compared with 14% in 2023 and 21% in 2022.

Dover brings an estimated peak production of 20 000 boe/d.

Rystad Energy predicts significant risks to US operators who could be forced to bring down their pace of production growth.

Matador Resources Company has announced the sale of its remaining Eagle Ford shale position in South Texas.

Subsea7 has announced the award of a sizeable contract by Shell Offshore Inc. for the Sparta deepwater development in the US.

bp has announced that the company's board of directors has initiated a succession process to select a new Chair, after Helge Lund informed the board of his intention to step down in due course.

Markets respond to US ‘Liberation Day’ and recent OPEC+ meeting.

INEOS Energy has announced the completion of the acquisition of the US Gulf business held by CNOOC Energy Holdings USA. Inc., a US subsidiary of CNOOC International Limited (CNOOC).

bp Trinidad and Tobago (bpTT) has confirmed its Cypre development has safely delivered its first gas.

CNOOC Ltd has announced a major oilfield discovery of Huizhou 19-6 in the deep and ultra-deep plays of the South China Sea, which adds over a hundred million t of oil equivalent in-place.