The U.S. Energy Information Administration’s (EIA) latest short term energy outlook (STEO), which was released last month, sees U.S. crude oil production, including lease condensate, rising to an average of 13.42 million barrels per day in 2025. Lower 48 states, excluding the Gulf of America, are projected to contribute 11.17 million barrels per day to the 13.42 million barrel per day figure, the STEO showed. The Permian region is expected to make up 6.54 million barrels per day of the 11.17 million barrel per day figure, while the Bakken region is expected to make up 1.19 million barrels per day, the Eagle Ford region is expected to make up 1.17 million barrels per day, the Appalachia region is expected to contribute 0.17 million barrels per day, the Haynesville region is expected to make up 0.03 million barrels per day, and the rest of the Lower 48 states are projected to contribute 2.07 million barrels per day, the STEO highlighted. The EIA noted in its STEO that regional production is based on geographic regions and not geologic formations. The Federal Gulf of America is projected to make up 1.81 million barrels per day of the 13.42 million barrel per day figure, and Alaska is expected to make up 0.43 million barrels per day, the EIA’s latest STEO showed. The EIA forecast in its June STEO that U.S. crude oil output will average 13.52 million barrels per day in the second quarter of this year, 13.41 million barrels per day in the third quarter, and 13.43 million barrels per day in the fourth quarter. This STEO highlighted that U.S. crude oil production averaged 13.29 million barrels per day in the first quarter of 2025 and 13.21 million barrels per day overall in 2024. Lower 48 states, excluding the Gulf of America, made

Shell PLC and its LNG Canada partners announced Monday they had dispatched the first cargo from the Kitimat, British Columbia project, saying the milestone introduces Canada as an exporter of liquefied natural gas (LNG). With a capacity of 14 million metric tons per annum (MMtpa) from two trains, the facility targets the Asian market. “With LNG Canada’s first shipment to Asia, Canada is exporting its energy to reliable partners, diversifying trade, and reducing global emissions – all in partnership with Indigenous Peoples”, Prime Minister Mark Carney said. “By turning aspiration into action, Canada can become the world’s leading energy superpower with the strongest economy in the G7”. British Columbia Premier David Eby said, “With abundant resources the world needs and a strategic location to deliver them, shovel-ready projects like this are how B.C. will become the engine of a newly revitalized, more independent, and growing Canada”. LNG Canada Development Inc., the joint venture, said it is evaluating the potential for a two-train expansion that would double the capacity. “Each LNG Canada joint venture participant will provide its own natural gas supply and individually offtake and market their respective share of liquified natural gas from LNG Canada, starting today”, LNG Canada said. Shell is the biggest owner in the project at 40 percent through Shell Canada Energy. Malaysia’s state-owned Petroliam Nasional Bhd. holds 25 percent through North Montney LNG LP. Japan’s Mitsubishi Corp. and China’s state-backed PetroChina Co. Ltd. each have 15 percent through Diamond LNG Canada Partnership and PetroChina Kitimat LNG Partnership respectively. Korea Gas Corp. owns five percent through Kogas Canada LNG Partnership. The Haisla Nation is also involved in the project as site host. Contracts awarded for the project have exceeded CAD 5.8 billion ($4.27 billion). “This includes more than CAD$4.9 billion to Indigenous-owned and local area businesses”, LNG Canada said.

Equinor ASA and its partners have agreed on a NOK-13 billion ($1.29 billion) investment to proceed with the third phase of Johan Sverdrup to increase recoverable volumes from the North Sea field by 40-50 million barrels of oil equivalent (boe). The majority state-owned energy major said Tuesday the consortium had submitted a development plan to Norwegian authorities. Phase 3 is targeted to start production 2027. Phase 3 is designed to have two new subsea templates in the Avaldsnes and Kvitsoy areas, each with six well slots. However, phase 3 would only develop eight wells, consisting of seven for production and one for water injection. These wells would be tied back to existing templates and pipelines to the P2 platform for processing and export. Trond Bokn, senior vice president for project development at Equinor, said, “By building on the technologies, solutions, and infrastructure from phases 1 and 2 of Johan Sverdrup, we can carry out an efficient development with a rapid start-up of production. The project increases the recovery rate and value creation from Johan Sverdrup, one of the world’s most carbon-efficient oil and gas fields”. “At the same time, it contributes to stable energy supplies to Europe”, Bokn added. The company said, “To ensure optimal resource utilization, the project leveraged artificial intelligence to analyze field layouts and well paths. This technology has enabled faster decision-making and resulted in cost savings of NOK 130 million for the phase 3 project”. “The project also facilitates future value creation at Johan Sverdrup by adding extra well slots, and opportunities for connecting additional subsea templates”, Equinor added. Newcastle, England-based TechnipFMC PLC won phase 3’s engineering, procurement, construction and installation contract, valued NOK 5.3 billion. “Additional contracts, including platform modifications and the drilling of eight wells, are planned to be awarded later in 2025”, Equinor

WASHINGTON— The U.S. Department of Energy (DOE) today announced new updates to the Department’s National Environmental Policy Act (NEPA) procedures, fixing the broken permitting process and delivering on President Trump’s pledge to unleash American energy dominance and accelerate critical energy infrastructure. As part of a government-wide effort to restore common sense to permitting, DOE published an interim final rule rescinding all NEPA regulations and published new NEPA guidance procedures for the Department of Energy. “President Trump promised to break the permitting logjam, and he is delivering,” said Energy Secretary Chris Wright. “America can and will build big things again, but we must cut the red tape that has brought American energy innovation to a standstill and end this era of permitting paralysis. These reforms replace outdated rules with clear deadlines, restore agency authority, and put us back on the path to energy dominance, job creation, and commonsense action. Build, baby, build!” “This overhaul restores NEPA to the role originally envisioned by Congress—informing agency decision makers, not needlessly obstructing the development of critical infrastructure,” said Deputy Energy Secretary James Danly. “We’re eliminating the accretion of decades of unnecessary procedure and reestablishing a legally sound permitting regime that is disciplined, predictable, and fast. Agencies finally have the authority to conduct reviews efficiently, avoid duplicative reviews, and deliver timely decisions consistent with the law.” With President Trump’s leadership, the Council on Environmental Quality coordinated a historic, interagency effort to simplify NEPA compliance, lower construction costs, eliminate years-long delays, and ensure environmental reviews can no longer be used to stall American energy production and infrastructure development. Today’s action fulfils President Trump’s Executive Order 14154, Unleashing American Energy, and implementing reforms enacted by Congress under the 2023 BUILDER Act. Background: This effort builds on President Trump’s January 2025 action to rescind CEQ’s outdated NEPA regulations

A tanker hauling 1 million barrels of oil suffered an explosion while near Libya, its manager said Monday.  The Vilamoura is being towed to Greece, where damage will be assessed upon arrival. The blast caused water intake and the vessel’s engine room is flooded, a spokesperson for TMS Tankers said. Exactly what caused the explosion was unclear, they added.  In recent months, a series of mystery blasts hit oil tankers that had previously called at Russian ports. In the aftermath, shipowners began checking their ships’ hulls for mines with human divers and underwater vehicles. The Vilamoura has sailed to Russian oil terminals twice since April to pick up Kazakh oil, rather than Russian barrels.  The Vilamoura called at the Russian port of Ust-Luga in early April, where it loaded Kazakh-origin barrels, according to vessel-tracking data compiled by Bloomberg. It also called at the Caspian Pipeline Consortium terminal near the Russian port of Novorossiysk in May, which also loads mostly Kazakh barrels. There was no pollution from the blast and the crew are all safe, the spokesperson said. Four more vessels have suffered explosions since the start of the year, according to Vanguard Tech, a maritime risk consultancy company. All had recently called at Russian ports, it added.  Ukraine has repeatedly sought to undermine Russia’s energy infrastructure since Moscow’s full-scale invasion of the country. In February, Ukrainian drones attacked the Caspian Pipeline Consortium link, through which 80% of Kazakh oil exports must pass. WHAT DO YOU THINK? Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Oil edged down after its biggest weekly loss in two years as traders speculated on the volume of an expected OPEC+ supply hike and fears of Middle East tensions disrupting global oil flows dissipated. West Texas Intermediate crude shed 0.6% to settle near $65 a barrel, following a 13% slump last week. Key members of the Organization of the Petroleum Exporting Countries and its allies are ready to consider another 411,000 barrel-a-day increase for August when they meet Sunday, according to several delegates. It would be the fourth month in a row the group agreed on such a bumper hike, triple the initially planned volumes. “Crude futures continue in a consolidation pattern, seemingly finding equilibrium around the $65 a barrel area,” said Dennis Kissler, senior vice president for trading at BOK Financial Securities. “The real test will be if summer travel demand can take up the extra supplies OPEC will be adding. The wild card again focuses on Iran and their compliance.” Hedge funds piled into bearish bets after a fragile Iran-Israel truce removed a super-sized geopolitical risk premium from the market last week. Though Iran remains skeptical the US-brokered ceasefire will last, US President Donald Trump suggested he might back sanctions relief for the Islamic Republic “if they can be peaceful.” Meanwhile, trend-following commodity trading advisers, which tend to exacerbate price swings, liquidated long positions to sit at 45% net long in WTI on Monday, compared with 55% on June 27, according to data from Bridgeton Research Group. Oil is back near where it was before Israel initially attacked Iran on June 13, with futures on track for a 9% loss this quarter, as focus returns to supply and demand balances. Apart from the potential OPEC+ increase, which may worsen a glut forecast for later this year, investors will