The Biden administration is selling drilling rights across the Gulf of Mexico on Wednesday in an auction that will test the oil industry’s appetite amid White House efforts to shift away from fossil fuels. SourceContinue Reading

The United Arab Emirates will accelerate $20 billion of natural-gas projects by awarding contracts for some of them in the coming days, as it seeks to boost exports of the fuel. SourceContinue Reading

KFX CO2 simulation software is being developed by DNV and Equinor to increase safety in carbon capture and storage. SourceContinue Reading

Oil tumbled to the lowest in nearly six weeks as investors considered the prospect of a release of crude supplies from strategic reserves. SourceContinue Reading

Oil companies spent $191.7 million buying drilling rights in the Gulf of Mexico on Wednesday, during a robust government auction that underscored the industry’s appetite for new crude as the White House seeks to shift the U.S. away from fossil fuels. SourceContinue Reading

President Joe Biden urged the Federal Trade Commission to probe possible illegal conduct in U.S. gasoline markets, though any inquiry by the agency is unlikely to have an immediate impact on pump prices paid by consumers. SourceContinue Reading

SBM Offshore has been awarded contracts to perform front end engineering and design for an FPSO for the Yellowtail development project. The FEED contract award triggers the initial release of funds by ExxonMobil’s subsidiary Esso Exploration and Production Guyana Limited to begin FEED activities and secure a Fast4Ward hull. SourceContinue Reading

The oil market is about to swing into a healthy supply surplus, if the world’s big international energy forecasters are to be believed. SourceContinue Reading

In its October Short-Term Energy Outlook, the U.S. Energy Information Administration forecasts that natural gas spot prices at the U.S. benchmark Henry Hub will see the highest average winter price since 2007–2008. SourceContinue Reading

Russia is keeping a tight grip on Europe’s energy market, opting against sending more natural gas to the continent even after President Vladimir Putin said he was prepared to boost supplies. SourceContinue Reading