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Chevron Kicks Off Efforts to Boost Output at Two Gulf of Mexico Fields

Conventional Energy, Energy Topics & Technology, Latest, Offshore, Oil, US News / By

(Reuters) – Chevron (CVX.N) said on Tuesday it had started water injection operations at the company’s projects, Jack/St. Malo and Tahiti off the U.S. Gulf of Mexico, to boost oil and natural gas recovery. Since the fields started production in 2014, Jack/St. Malo have cumulatively produced almost 400 million gross barrels of oil equivalent (boe), the …

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UK North Sea Oil & Gas Windfall Tax Increase Means $12 Billion Revenue Drop, Lost Jobs Industry Body Says

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Summary Increase effective from Nov. 1 Tax rate would be among highest in the world Government says change will help shift to renewable energy (Reuters) – British government plans to increase a windfall tax on North Sea oil and gas producers would lead to a nearly 12 billion pound ($16 billion) drop in revenue to …

UK North Sea Oil & Gas Windfall Tax Increase Means $12 Billion Revenue Drop, Lost Jobs Industry Body Says Read More »

Equinor May Reconsider Investing in UK Oil Sector if Tax Regine Changes

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Summary Company is working with partner Ithaca to develop Rosebank field Labour has said it will hike windfall tax by 3 percentage points STAVANGER, Norway, Aug 28 (Reuters) – Norway’s Equinor may reconsider investing in oil and gas in Britain if the Labour government changes the industry’s tax regime, a top company executive told Reuters. …

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Norway Oil Output, Renewable Push Go Hand-in-Hand, Aker BP Says

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Norway must make more area available for hydrocarbon exploration and scale up the country’s nascent renewable sector in order to protect domestic suppliers of parts and services, according to the head of the country’s second biggest oil and gas company. “We need as much acreage as is possible and whatever is hindered by environmental assessments, …

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Norwegian Oil Investments to Hit Record High as Inflation Drives Up Costs

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Summary Statistics office compiles oil, gas investment survey Norway oil investments to hit record NOK 257 bln in 2024 (Reuters) – Norwegian oil and gas investments are expected to hit a record this year and stay at elevated levels in 2025, driven by ongoing field developments and rising inflation, a national statistics office (SSB) survey …

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New Drilling Technology to Put Billions of Barrels of Oil in Reach

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HOUSTON, (Reuters) – An oil production breakthrough that producers say can safely tap ultra-high pressure fields could put up to 5 billion barrels of previously inaccessible crude into production, analysts said. Chevron on Monday disclosed it had pumped first oil from a field at 20,000 pounds per square inch pressures, a third greater than any prior well. …

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Tropical Storm Beryl to Have Little Impact on U.S. Offshore Oil Output

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Tropical Storm Beryl is expected to have little impact on U.S. offshore oil and gas production, energy companies said on Friday while evacuating personnel from some facilities out of caution. Beryl was downgraded from a hurricane and shifted over Mexico’s Yucatan Peninsula with maximum sustained winds dipping to 70 mph (113 kph), the U.S. National …

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States Sue U.S. to Block Rule That Oil Firms Guarantee Payment to Dismantle Old wells

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Texas, Louisiana and Mississippi on Monday sued the U.S. government to block the Biden administration’s proposed rule that would require the offshore oil and gas industry to provide nearly $7 billion in financial assurances to cover costs of dismantling old infrastructure. The rule, which would take effect later this year, will predominantly affect smaller companies …

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New Zealand Set to Scrap Oil, Gas Exploration Ban in Second Half

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Government says reversing the ban will bolster energy security Green Party labels the move a backward step for climate aims New Zealand’s government is pressing ahead with plans to lift a ban on offshore petroleum exploration, citing energy security challenges from “rapidly” declining natural gas reserves. Gas is “critical” for the economy during periods of …

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North Sea Firms Postpone Oilfield Opening After Early UK Election Called

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Three British energy companies have decided to delay by a year the planned start of oil production at their joint-venture oilfield in the North Sea, citing the need for clarity on the fiscal policies of the next government. Jersey Oil and Gas, which owns 20% of the Buchan field, gave the update on Wednesday on …

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