Oil drilling news

Here are some recent news articles and updates on the oil drilling industry:

Global Oil Drilling News

  1. BP to invest $10 billion in oil and gas projects in 2023: British oil giant BP has announced plans to invest $10 billion in oil and gas projects in 2023, with a focus on low-carbon energy and reducing emissions. (Source: Reuters)
  2. Shell to increase oil production in Brazil: Royal Dutch Shell has announced plans to increase oil production in Brazil by 20% in 2023, as part of its efforts to boost output and reduce costs. (Source: Bloomberg)
  3. TotalEnergies to invest $1.5 billion in US oil and gas projects: French oil major TotalEnergies has announced plans to invest $1.5 billion in US oil and gas projects in 2023, with a focus on shale oil and natural gas production. (Source: Offshore Magazine)

US Oil Drilling News

  1. US oil production to reach record high in 2023: The US Energy Information Administration (EIA) has forecast that US oil production will reach a record high of 12.4 million barrels per day in 2023, driven by increased drilling and production in the Permian Basin. (Source: EIA)
  2. Texas oil production to reach record high in 2023: The Texas Railroad Commission has forecast that oil production in the state will reach a record high of 5.4 million barrels per day in 2023, driven by increased drilling and production in the Permian Basin. (Source: Houston Chronicle)
  3. New Mexico oil production to increase by 15% in 2023: The New Mexico Oil and Gas Association has forecast that oil production in the state will increase by 15% in 2023, driven by increased drilling and production in the Permian Basin. (Source: Albuquerque Journal)

Environmental and Regulatory News

  1. US court blocks Trump-era oil and gas leasing program: A US court has blocked the Trump-era oil and gas leasing program, which allowed for the sale of public lands for oil and gas development. (Source: The Hill)
  2. EU to phase out fossil fuel subsidies by 2025: The European Union has announced plans to phase out fossil fuel subsidies by 2025, as part of its efforts to reduce greenhouse gas emissions and transition to renewable energy. (Source: EurActiv)
  3. New York state bans fracking: New York state has banned fracking, or hydraulic fracturing, for oil and gas production, citing concerns over environmental and health impacts. (Source: The New York Times)

Industry Trends and Analysis

  1. Oil and gas industry faces challenges in 2023: The oil and gas industry is facing challenges in 2023, including declining demand, increased competition from renewable energy, and regulatory uncertainty. (Source: Energy Intelligence)
  2. Shale oil production to continue growing: Shale oil production is expected to continue growing in 2023, driven by increased drilling and production in the Permian Basin and other regions. (Source: Rystad Energy)
  3. Oil and gas industry to invest in digitalization: The oil and gas industry is expected to invest in digitalization and technology in 2023, including the use of artificial intelligence, blockchain, and the Internet of Things (IoT). (Source: Oil & Gas Journal)