The transaction between Oxy and India’s Reliance Industries is the energy industry’s first major petroleum shipment for which greenhouse gas emissions associated with the entire crude lifecycle, well head through combustion of end products, have been offset. SourceContinue Reading

The Council will represent more than 600 energy technology and services companies in the global energy supply chain providing solutions to enable a low-carbon future, safely, profitably, and sustainably. SourceContinue Reading

Iran sent a clear signal to the Biden administration that it expects relief from sanctions, and the full restoration of the United Nations resolution that underpins the deal, before it starts scaling back its nuclear activities. SourceContinue Reading

BP will sell a stake in an Omani gas block to Thailand’s national energy firm for $2.6 billion, part of a push to divest billions of dollars of assets and focus more on renewable energy. SourceContinue Reading

“We have concerns about investment, particularly in light of the pandemic,” OPEC Secretary-General Mohammad Barkindo said at a virtual conference in Iran on Jan. 26. Starving the industry of capital today “could sow the seeds for extreme volatility down the road.” SourceContinue Reading

America is the world’s biggest consumer of crude oil, and any restrictions of domestic production will mean more will have to be shipped in from other countries with less stringent humanitarian and environmental laws. SourceContinue Reading

“The Texas upstream oil and gas economy was already in a state of decline before Covid-19,” said Alliance Executive V.P. and Petroleum Economist Karr Ingham, in exclusive comments to World Oil, adding that the demand contraction in the U.S. and globally was easily the sharpest demand drop in the shortest amount of time on record....Continue Reading

Keppel Offshore and Marine will exit the offshore rig building business, after completing the existing rigs under construction, the company said in a statement. SourceContinue Reading

While progress has been made in recent years on the commercial framework for the Tanzania LNG project, overall project economics have not yet improved sufficiently to justify keeping it on the balance sheet, Equinor said in a statement. SourceContinue Reading

In a harbinger for the rest of the oil industry, Chevron’s results evince the challenges facing energy producers battered by 2020’s pandemic-driven collapse in demand and prices. SourceContinue Reading