EIA STEO: Global liquids supply to rise 2.1 million b/d in 2018

Production of crude oil from the Organization of Petroleum Exporting Countries averaged 32.5 million b/d in 2017, a 200,000-b/d decrease from 2016 levels, and OPEC oil production will average 32.7 million b/d in 2018, according to the US Energy Information Administration’s latest Short-Term Energy Outlook. Source: News

Atlantic Coast Pipeline gets Virginia water permit, but with delay

Virginia’s water control board has approved a water quality certification for the proposed Atlantic Coast natural gas pipeline in a 4-3 vote on Dec. 12, but it was not effective immediately. The commonwealth’s Department of Environmental Quality plans to complete additional studies dealing with soil and erosion control and stormwater management plans first, a DEQ […]

Oasis Petroleum expands into Delaware basin with $946-million acquisition

Oasis Petroleum Inc. will expand its operations into the Delaware basin through the acquisition of assets from Forge Energy LLC for $946 million. The deal, which includes a $483-million cash payment and 46 million shares of common stock, is effective Dec 1.  Source: News

OPEC production fell in November from October

The Organization of Petroleum Exporting Countries raised its production forecast for non-OPEC oil output, particularly from US unconventional plays for 2017-18. The cartel also said its November oil production, as estimated by secondary sources, averaged 32.45 million b/d, a drop of about 133,000 b/d from October.  Source: News