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Woodside approves investment in $7.2B Trion development in deepwater Gulf of Mexico; first oil in 2028

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Australia-based Woodside Energy has made a final investment decision to develop the large, high-quality Trion resource in the deepwater Gulf of Mexico. First oil is targeted for 2028. Trion is located in a water depth of 2,500 meters, approximately 180 km off the Mexican coastline and 30 km south of the Mexico/US maritime border.

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US EIA: US crude oil production fell by 8% in 2020, the largest annual decrease on record

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US crude oil production averaged 11.3 The production decline resulted from reduced drilling activity related to low oil prices in 2020. The production decline resulted from reduced drilling activity related to low oil prices in 2020. In January 2020, US crude oil production reached a peak of 12.8 million b/d. million b/d.

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bp starts up Manuel project in deepwater Gulf of Mexico; 20,100 boe/d

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bp announced the safe start-up of the Manuel project in the US Gulf of Mexico, the fourth of five major projects expected to be delivered globally in 2021. The wells are expected to boost gross platform production by an estimated 20,100 barrels of oil equivant a day (boe/d).

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Biden authorizes release of more than 180M barrels of oil from Strategic Petroleum Reserve; 1M bpd for 6 months

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In an effort to address the rapidly increasing cost of gasoline, President Biden authorized the release of 1 million barrels of oil per day for the next six months—more than 180 million barrels—from the Strategic Petroleum Reserve (SPR). million barrels of sweet and 200,000 barrels of sour crude oil. President George W.

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US-Mexico Transboundary Hydrocarbons Agreement enacted as part of the budget act

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The US-Mexico Transboundary Hydrocarbons Agreement, which establishes a framework for US offshore oil and gas companies and Mexico’s Petroleos Mexicanos (PEMEX) jointly to develop transboundary reservoirs ( earlier post ), was enacted today as part of the Bipartisan Budget Act ( H.J.Res.59 Source: Richard McLaughlin.

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Study suggests microbe produces methane from crude oil all by itself

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Crude oil and gas naturally escape from the seabed in many places known as seeps. A large part of the hydrocarbons, primarily alkanes, is already degraded before it reaches the sediment surface. Epifluorescence microscopy picture of Methanoliparia-cells attached to a droplet of oil. (© —first-author Rafael Laso-Pérez.

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EIA: 5 states and the Gulf of Mexico produce more than 80% of US crude oil; shales drive the growth

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Five states (Texas, North Dakota, California, Alaska, and Oklahoma) and the Gulf of Mexico supplied more than 80%, or 6 million barrels per day, of the crude oil (including lease condensate) produced in the United States in 2013, according to the US Energy Information Administration (EIA). Click to enlarge. million barrels per day.