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After oil market dropped 30% from October, the market jumped 5% with OPEC’s decision to cut oil production by 1.2 million barrels per day.
Two-day marathon meeting leads to more bullish than expected oil output cuts by OPEC and its allies.
Amin Nasser said the program will attract investments of about US$150 billion over the next decade.
Occidental Petroleum’s Oman subsidiary is among the latest companies that have inked agreements with GlassPoint Solar, a technology company that uses solar energy to create steam to power EOR.
A new land rig design offers shale drillers 2,000-hp drawworks and reduced footprint.
The push toward incorporating digital tools to improve efficiencies, lower costs and expand production has triggered a new era for the oil and gas industry.
Companies at ADIPEC 2018 will be showcasing new products and services designed to meet industry challenges.
Efficiency and accuracy of directional drilling is improved with new proportional steering system.
Qatar has unveiled another plan to increase its LNG capacity by 43%, to 110 mtpa.
Saudi Arabia and Russia won’t add significantly more oil to the market because of a lack of capacity, a top Iranian official said on Sept. 24, predicting prices will probably rise further.
Saudi Aramco processed 12.4 billion standard cubic feet a day (Bscf/d) of raw gas and supplied 8.7 Bscf/d of natural gas last year, according to the company’s latest annual review.
How Saudi Aramco plans to become an enabler and creator of new technologies.