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Weatherford Announces Fourth Quarter and Full Year 2023 Results

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Fourth quarter revenue of $1,362 million increased 4% sequentially and 13% year-over-year; full year revenue of $5,135 million, increased 19% from prior year, driven by international revenue growth of 26% Fourth quarter operating income of $216 million decreased 1% sequentially and increased 28% year-over-year; full year operating income of $820 million, increased 99% from prior …

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Exxon Raises Guyana’s Oil Production to About 645,000 Barrels Per day

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Reuters A consortium led by Exxon Mobil Corp which controls all oil production in Guyana is pumping about 645,000 barrels per day (bpd) in the South American country, up from about 400,000 bpd in late 2023, the U.S. producer said at a press conference on Tuesday. Guyana has emerged as the world’s fastest-growing new oil province …

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Europe Oil Product Markets Hurting as Red Sea Attacks Delay Deliveries, IEA Exec Says

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Delays in oil product deliveries due to ships being diverted avoid attacks in the Red Sea are impacting product markets in Europe in particular, an International Energy Agency executive said on Wednesday. “We’re currently seeing a difficult situation with respect to the Red Sea and the Suez canal,” Keisuke Sadamori, IEA’s director of energy markets …

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DIMATE PACS at MiRO: Digital NDT in Germany’s Largest Refinery

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Every three years, one of MiRO’s two major plant sections is shut down for extensive inspection and maintenance work. This is a good time to examine the potential for optimizing processes and margins. The result of the last major shutdown: the NDT processes in Germany’s largest refinery should become digital in order to increase quantity, …

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WHITE PAPER: Rebuild Or Buy New? An In-Depth Cost Analysis for Cat® Gas Compression Engines

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VIEW PDF VERSION HERE After Years of Reliable Service, Your Caterpillar 3500 Or 3600 Gas Compression Engine Fails. What’s The Next Step? Do You Rebuild or Invest in A New Unit? Every decision-maker battles this balance: cost versus benefits, budget and timing. A comprehensive, cost-effective rebuild can restore your existing engine to like-new condition. A …

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U.S. Crude Production to Rise to 13.21 Million Bpd in 2024 – EIA

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U.S. crude oil production will rise to 13.21 million barrels per day (bpd) in 2024 the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday, which lowered expectation for U.S. crude growth by 120,000 bpd. The EIA projected that crude production will rise by 170,000 bpd this year; down …

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U.S. Natgas Output and Demand to Hit Record Highs in 2024 – EIA

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U.S. natural gas production and demand will rise to record highs in 2024, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday. The EIA projected dry gas production will rise to 104.37 billion cubic feet per day (bcfd) in 2024 and 106.46 bcfd in 2025 from a record …

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U.S. Natgas Prices Slide 3% to Nine-Month Low on Rising Output, Lower Demand

Conventional Energy, Latest, LNG, Natural Gas, US News / By

U.S. natural gas futures slid about 3% to a nine-month low on Tuesday as output slowly rises, the amount of gas flowing to liquefied natural gas (LNG) export plants declines and on forecasts for lower demand this week than previously expected. Prices fell even though the latest forecasts called for colder weather and more heating …

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Tellurian Explores Sale of Upstream Business to Finance Driftwood LNG

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Tellurian is exploring the sale of its Haynesville upstream business, the liquefied natural gas (LNG) firm said on Tuesday, as it looks to raise capital for its Driftwood LNG project. The company has been trying to develop a 27.6 million metric-tons-per-annum LNG plant, which has suffered multiple delays, in Lake Charles, Louisiana, and earlier said …

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U.S. Sanctions Halt Delivery of New Vessels to Russian LNG Plant

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MOL says efforts to charter or sell ice-breakers face curbs Operator Novatek PJSC already forced to delay maiden voyage The delivery of specialized ships to a new Russian liquefied natural gas facility is being upended by US sanctions, according to Mitsui OSK Lines Ltd., threatening exports. The Japanese shipping line can no longer charter the three ice-breaker …

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