OPEC and its partners could quickly deploy their stalled production spare capacity to quash oil price rallies, the IEA said in its monthly report. Demand won’t return to pre-virus levels until 2023, the agency said in a separate report. SourceContinue Reading
Oil and gas producers Tailwind Energy Ltd., Serica Energy Plc, Ithaca Energy Ltd., EnQuest Plc and newcomer Waldorf Production UK Ltd. have been considering binding offers for some or all of the assets, according to people familiar with the matter. SourceContinue Reading
Expro Group has formed an exclusive alliance with global vessel provider FTAI Ocean for the supply of the DP3 M/V Pride well intervention vessel to provide full light well intervention services to the subsea oil and gas sector. SourceContinue Reading
Early bird registration for the 23rd World Petroleum Congress is now open and available through April 30th. Delegates who take advantage of registering early for the Congress, to be held in Houston, U.S.A. from December 5-9, 2021, will receive a discount of over one third on the onsite price. SourceContinue Reading
Abu Dhabi National Energy Co. is considering options for its oil and gas assets, including a potential sale, as the state-owned utility focuses more on power generation, people familiar with the matter said. SourceContinue Reading
Refineries in Michigan, Ohio, Indiana, Pennsylvania as well as those in Ontario and Quebec would have to find alternative means for securing crude oil should Line 5 be shut, requiring the building of new rail terminals and rail cars, Vern Yu, Enbridge’s president of liquid pipelines, told Canadian lawmakers Tuesday. SourceContinue Reading
The Industrial Decarbonization Strategy, published March 17, is part of the UK’s ambition to effectively eliminate greenhouse gas emissions by 2050. SourceContinue Reading
Global oil demand won’t return to pre-pandemic levels until 2023, and growth will be subdued thereafter amid new working habits and a shift away from fossil fuels, the International Energy Agency said. SourceContinue Reading
Exxon Mobil said in a letter to shareholders March 16th that Engine No. 1’s approach ignores the role oil and natural gas will play in the future, and the leadership role the oil giant intends to take in reducing emissions through the development of lower-carbon technologies. SourceContinue Reading
Futures in New York slipped 0.9% on Tuesday for a third straight session of losses, following a surge earlier this month to intraday levels last seen in 2018. Though there are indications of growing demand in some parts of the world, other regions — notably Europe — are lagging. SourceContinue Reading
