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The latest upstream oil and gas news from around the world.

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Mexican Government Raises Pemex Deductions To Continue Oil Output

Fri, 18 Aug 2017 00:00:00 GMT

Mexico's finance ministry says Pemex will be allowed to deduct more costs for developing some projects so the firm can maintain production.

Libya Gets Better at Keeping Oil Flowing as Industry Stabilizes

Thu, 17 Aug 2017 00:00:00 GMT

Libya's getting better at resolving stoppages in its oil industry, underpinning a growing perception that the OPEC member is closer to becoming a stable producer again.

Nigeria State Oil Firm Says Its Production Costs Cut To $23 A Barrel

Wed, 16 Aug 2017 00:00:00 GMT

Nigeria's production cost per barrel of crude oil is down to $23, the state oil company says.

EIA: US Crude Stockpiles Fall The Most In Nearly A Year

Wed, 16 Aug 2017 00:00:00 GMT

US crude oil inventories fell for the seventh consecutive week in their largest drawdown in nearly a year.

Libya's Oil Output Boosted as Port Reopens, Field Pumps More

Wed, 16 Aug 2017 00:00:00 GMT

Libya's biggest oil field, Sharara, is increasing production.

Protesters Drag Shell Niger Delta Oil Facility Shutdown Into Fifth Day

Tue, 15 Aug 2017 00:00:00 GMT

Protesters on Tuesday dragged the shutdown of a Shell crude oil facility in the Niger Delta into its fifth day.

Standard Bank Seeks to Raise $3 Billion for Ugandan Oil Pipeline

Tue, 15 Aug 2017 00:00:00 GMT

Standard Bank Group Ltd.'s Ugandan unit plans to raise $3 billion for a crude pipeline by the second half of next year.

Gas Starts Flowing from BP's New Fields Offshore Trinidad and Australia

Mon, 14 Aug 2017 00:00:00 GMT

BP has started producing gas from two new projects offshore Trinidad and Tobago and Australia, the company said, further boosting output that is helping the company to turn a corner after a bruising market downturn.

Hundreds Of Protesters Storm Shell Oil Facility In Niger Delta

Fri, 11 Aug 2017 00:00:00 GMT

Hundreds of Nigerians stormed a crude oil facility and gas plant owned by Shell in the Niger Delta.

North Dakota Oil Production Slips About 1% In June

Fri, 11 Aug 2017 00:00:00 GMT

North Dakota's daily oil production slips about 1% in June.

Japan's Cosmo Expects Abu Dhabi's Hail Oilfield Startup In October

Thu, 10 Aug 2017 00:00:00 GMT

Japan's Cosmo Energy Holdings says the offshore Hail oilfield in Abu Dhabi is set to start production in October.

Petrochina's Refinery, Gas Fields And Pipelines Unaffected By Sichuan Quake

Wed, 09 Aug 2017 00:00:00 GMT

Petrochina's Refinery, Gas Fields And Pipelines Unaffected By Sichuan Quake

Innovate, Cut Costs: How A Russian Oil Firm Navigates Global Supply Curbs

Wed, 09 Aug 2017 00:00:00 GMT

A global deal cutting crude output has forced Tatneft to curb flows at some fields, leaving it with lower revenues but little relief from maintenance and running costs.

OPEC Expects Laggards To Comply More Fully With Oil Cut Pact

Tue, 08 Aug 2017 00:00:00 GMT

OPEC expects greater adherence to its pact with non-OPEC producers to cut oil output after two days of meetings in Abu Dhabi aimed at boosting compliance with the accord.

Libya's Largest Oil Field 'Back to Normal' After Disruption

Mon, 07 Aug 2017 00:00:00 GMT

Libya's biggest oil field Sharara is 'back to normal' after a disruption caused by protests in the politically fragmented country, the state National Oil Corp. says.

Iraq's Kirkuk Province Spurns Plan to Ship Its Oil to Iran

Thu, 03 Aug 2017 00:00:00 GMT

Kirkuk refuses to cooperate with any plans to ship its oil to neighboring Iran because the central government didn't consult with it on the matter, Kirkuk provincial officials said.

Rising Gas Output Drags Down Shares Of US Shale Leader Pioneer

Wed, 02 Aug 2017 00:00:00 GMT

Shares of Pioneer Natural Resources Co plunged after the US shale producer cut its oil-production growth forecast and said it would pump more natural gas this year, spooking investors.

Riverstone Unit Acquires SCOOP/STACK/MERGE Pipeline, ROW

Wed, 02 Aug 2017 00:00:00 GMT

Mainline Midstream, LLC has acquired more than 1,000 miles of oil and gas pipeline and rights of way (ROW) in the SCOOP/STACK/MERGE resource play.

Centrica To Produce 30 Bcf Of Gas From Rough Site By 1Q 2018

Tue, 01 Aug 2017 00:00:00 GMT

Centrica said it expects to produce up to 30 billion cubic feet (bcf) of gas from its Rough gas storage site by the first quarter of next year.

Fars News Agency: Maersk Sees Up To 140,000 Bpd Potential For Iran Field

Tue, 01 Aug 2017 00:00:00 GMT

Maersk Oil has estimated potential output for the second phase of Iran's South Pars oil deposit at 120,000-140,000 barrels of oil per day, Fars News Agency reports.