Crude oil and natural gas production in the Eagle Ford shale play, situated in southeast Texas, dropped by almost 35% and 20%, respectively, in May 2020 due to the COVID-19 pandemic, according to GlobalData. SourceContinue Reading
Neptune Energy has extended a contract for Odfjell Drilling’s Deepsea Yantai drilling rig, to include three additional wells in the Norwegian North Sea next year. SourceContinue Reading
President Joe Biden is preparing to announce a release of oil from the nation’s Strategic Petroleum Reserve in concert with several other countries as soon as Tuesday, according to people familiar with the plan. SourceContinue Reading
France’s TotalEnergies SE and Italy’s SpA said they were ready to invest billions of dollars in Libya as the OPEC nation emerges from a decade of conflict and civil war. SourceContinue Reading
OPEC and its allies may re-evaluate plans for reviving oil supplies if the world’s four largest consuming countries go ahead with a coordinated release of their strategic petroleum reserves. SourceContinue Reading
BHP Group and Woodside Petroleum Ltd. approved investment in a $12 billion Australian gas project as the companies also confirmed details of a merger to combine their energy assets. SourceContinue Reading
Oil was on track to post its biggest weekly drop since August as Europe’s worsening Covid-19 crisis renewed the prospect of lockdowns just as key consuming nations look to add emergency supply to the market. SourceContinue Reading
Commenting on the passage of the bill, American Petroleum Institute President and CEO Mike Sommers said “At a time when energy prices have risen alongside broader economy-wide inflation, the House reconciliation bill would only exacerbate the challenges facing Americans.” SourceContinue Reading
Baker Hughes has been awarded two contracts from ADNOC this week for equipment and services across multiple upstream fields and projects in the United Arab Emirates. SourceContinue Reading
The White House’s push for releases of oil from national reserves is already fully priced into the market following the drop in crude prices in recent weeks, according to Goldman Sachs Group Inc. SourceContinue Reading
