OPEC+ responded to months of diplomatic efforts from US President Joe Biden with one of the smallest oil production increases in its history. SourceContinue Reading
Oil-watchers are skeptical that OPEC+ will answer President Joe Biden’s call for more oil supplies when it meets on Wednesday, expecting the coalition to preserve its remaining capacity for another time. SourceContinue Reading
Out of $8.45 billion in profits BP posted for the second quarter, $3.5 billion will be used to buy back the company’s own shares, and the dividend will rise by 10%. SourceContinue Reading
Quarterly and annual results only give you a snapshot showing what has been happening in recent months, so they do not tell you much about longer-term trends, said Will Webster, energy policy manager at Offshore Energies UK. SourceContinue Reading
CGG, a global technology and HPC company, announced a major multi-year global data transformation and curation agreement with bp, that will play a key role in supporting bp’s Subsurface digital strategy. SourceContinue Reading
Wood has been awarded the Principal Designer and Pre-FEED scope for Salamander, the 100MW floating wind farm development located 35km off Peterhead in the East Coast of Scotland. SourceContinue Reading
Eni SpA is planning a second liquefied natural gas production vessel offshore Mozambique that could be built in less than four years to help Europe diversify supplies of the fuel, according to a company executive. SourceContinue Reading
The report highlights the need to fully understand the scope and scale of the challenge for these sectors and identifies a significant gap versus the pace of decarbonization necessary to achieve net-zero goals to limit global warming to 1.5C by 2050. SourceContinue Reading
Libya’s crude exports climbed after a ban on production and shipments was lifted in mid-July, a trend that may help cool fears about the OPEC member’s ability to supply global markets. SourceContinue Reading
U.S. shale drillers are expected to post record second-quarter profits in coming days, reversing nearly a decade of debt-fueled losses. SourceContinue Reading
