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...Last year, Bluebell called on BP to increase its production target to 2.5mn b/d of oil equivalent by 2030, arguing that it was destroying shareholder value by moving away from hydrocarbons faster than society...
...It produced 1.16mn b/d in the US in the quarter versus 895,000 b/d previously, boosted in part by its acquisition of PDC Energy....
...and 360,000 b/d in 2025....
...Analysts estimate Opec+ has about 6mn b/d of spare capacity it can unleash on to global markets to lower prices if they spike into the triple digits to prevent demand destruction....
...Didn’t you have to be a salty old naval officer or thin moustached field marshal to get away with one?...
...The IEA forecasts crude consumption to increase by 1.3mn barrels per day this year while Opec this week maintained its growth estimates of 2.25mn b/d for 2024....
...At new wells in the Permian, average oil production per drilling rig has increased to 1,319 b/d. A decade ago the figure was about 183 b/d....
...I wish we’d had the magic carpet to float us from the cool, damp roadside to sunnier, warmer San Luis Potosí state....
...Its output has been reduced from about 10.5mn b/d in April to about 9mn b/d, through a combination of Opec+ mandated production targets and its voluntary cuts....
...(a) (of a gem) uncut, unpolished; (b) (of water) undistilled; not filtered; (c) (of alcoholic spirit) undiluted; (d) (of grain) unmalted, undried; (e) (of sewage) untreated. I.2.e....
...Having lived in the UK for six years, she has some wisdom she’d like to impart....
...Or, if you’d prefer, look at the post illustration....
...Brandon Hall, former FMA co-head, will become deputy chief operating officer....
...About 7mn barrels a day of crude oil and refined products flow through the Bab-el-Mandeb strait but the route has become vital for Russia to export to Asia with 4mn b/d heading south, according to Kpler...
...Russia said its 300,000 b/d export reduction would also stay in place until December....
...But 18 other big companies attending COP28 got a grade of “D-minus” or worse....
...They are probabilistic bets on successful R&D: most of the time your investment goes to zero, but occasionally you’ll get a massive outsized return....
...Colombia nationally produces about 750,000 b/d, with oil and mining accounting for more than half of Colombia’s exports....
...It is also the main export point for oil from Kazakhstan, with the 1.2mn b/d line from the Caspian Pipeline Consortium terminating there....
...It is part of a development led by Exxon off the tiny South American country’s coast, where more than $40bn in investment is planned, that could bring Guyana’s total oil production to more than 1mn b/d later...
...The project would help to reinvigorate the oil industry in Alaska, a state where production has slid to less than a quarter of the 2mn b/d produced in boom years of the 1980s....
...Shell says it has achieved that target already, with production now at 1.5mn barrels a day, down from 1.9mn b/d in 2019....
...Russia, a member of Opec+, also said it would extend its existing production cut of 500,000 b/d until the end of the year....
...In total, the group will now produce almost 6mn b/d less than it could in the first quarter of 2024....
...“I don’t have such a crystal ball that I’d be 100 per cent in cash right now.”...
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