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  • Volume 121, Issue 12

    • Volume 121, Issue 12

    Petrobras installed the P-71 FPSO at Itapu field in Santos basin’s presalt area, 200 km off the coast of Rio de Janeiro. The vessel processes up to 150,000 b/d oil and 6 million cu m/d gas and stores 1.6 million bbl of oil. Petrobras reported a quarterly record of 3.98 MMboe/d production in third-quarter 2023 and a monthly record in September with 4.1 MMboe/d, due mainly to the ramp-up of the P-71 and the Almirante Barroso FPSO in Búzios field.

    More content from Volume 121, Issue 12

    General Interest

    WoodMac: Global LNG market requires 90 million tpy of new supply by 2035 to meet demand

    Dec. 4, 2023
    The global LNG industry will require 90 million tonnes/year (tpy) of new supply by 2035 to meet growing demand, while market volatility is expected to persist as the market rebalances...
    General Interest

    Williams, TC Energy get FERC approval for three pipeline expansions

    Dec. 4, 2023
    Williams Cos.’ Transcontinental Gas Pipe Line Co. LLC (Transco) received US Federal Energy Regulatory Commission (FERC) authorization to construct and operate new pipeline...
    General Interest

    IEA revises up 2023, 2024 global oil demand forecasts

    Dec. 4, 2023
    In its November issue monthly Oil Market Report, the International Energy Agency (IEA) raised its global oil demand forecasts for 2023 and 2024. IEA increased 2023’s demand...
    General Interest

    Russian oil export volume, revenues ebb in October

    Dec. 4, 2023
    Russian oil export volumes in October experienced a slight decrease of 70,000 b/d compared with the previous month, to total 7.5 million b/d, according to the latest estimates...
    General Interest

    Kosmos increases production 17% over year’s second quarter

    Dec. 4, 2023
    Kosmos Energy Ltd., Dallas, increased production 17% quarter-over-quarter to 68,200 boe/d with the startup of Tullow Oil plc-operated Jubilee South East development offshore Ghana...
    General Interest

    TC Energy reports Q3 2023 net loss; seeks reduced exposure in Mexico

    Dec. 4, 2023
    TC Energy Corp. had third-quarter 2023 net losses attributable to common shares of $200 million compared with a net income in third-quarter 2022 of $800 million. The company also...
    General Interest

    SM Energy adds to Midland basin drilling plans

    Dec. 4, 2023
    SM Energy Co., Denver, will increase Midland basin drilling activity this quarter and ramp up capital spending by 30% as the company looks to build on a recent land exchange. ...
    General Interest

    EIA: North American LNG export capacity could more than double by 2027

    Dec. 4, 2023
    The US Energy Information Administration (EIA) expects North America’s LNG export capacity to increase to 24.3 bcfd by end-2027 from its current 11.4 bcfd. Growth will be...
    General Interest

    Ovintiv increases production guidance on Permian asset integration pace

    Dec. 4, 2023
    Ovintiv Inc., Denver, has increased its full year 2023 production guidance on strong well productivity and faster-than-expected integration of Permian basin assets acquired in...
    Economics & Markets

    Global oil and natural gas reserves both increase

    Dec. 4, 2023
    At the end of 2023, the world’s proven oil reserves reached 1,754.6 billion bbl, an increase from the previous year’s 1,746.8 billion bbl, according to OGJ's annual assessment...
    Photo from MPC.
    Refining & Processing

    North American refiners advance mix of conventional, renewables projects

    Dec. 4, 2023
    Global refiners continued executing investments in 2023 primarily on works aimed at adapting their conventional operations to help ensure long-term competitiveness as the industry...
    Iraqi Kurdistan Maps (Fig. 1).
    Exploration & Development

    Oil maturity predicts Naokelekan volumes in Kurdistan

    Dec. 4, 2023
    This article calculates the amount of hydrocarbon generated from the Naokelekan formation in Iraqi Kurdistan. The Naokelekan formation source rock comprises part of the Zagros...
    Top Hold-Down Pump (Fig. 1).
    Drilling & Production

    Double traveling valve increases rod-pump efficiency

    Dec. 4, 2023
    Traditional sucker rod pumps (SRP) use a single traveling valve, but recent double traveling valve innovations have improved SRP performance and efficiency in field applications...
    Iowa Renewable Fuels Association.
    Proposed Midwest CO2 Pipeline Projects. (Fig. 1).
    Pipelines & Transportation

    CO2 pipeline projects struggle to gain traction

    Dec. 4, 2023
    A much larger pipeline network than that already used for enhanced oil recovery would be needed for carbon capture, storage, and sequestration to meet national greenhouse gas ...