Schlumberger posted better-than-expected earnings Friday and forecast an increase in overseas spending by customers in the next quarter. Earlier in the week, Halliburton said oil markets outside North America may see double-digit growth in the second half of 2021, while Baker Hughes predicted a modest recovery in Latin America, the North Sea and the Middle...Continue Reading

“By 2030, we still need to have capacity of approximately 650 to 700 million tons of LNG in place,” Chief Executive Officer Lorenzo Simonelli told analysts and investors Thursday on a conference call. “You’re looking at 50 to 100 million tons FIDing over the course of the next three to four years.” SourceContinue Reading

President Biden is expected to seek the restoration of the nuclear accord, and officials in Tehran have expressed the hope he will ease restrictions on its petroleum sales. But for now, the sanctions are still in place and any buyer of Iranian crude would face the same legal and financial penalties. SourceContinue Reading

President Biden issued a blizzard of executive orders on his first day in office, including a diktat to revoke the permit for the Keystone XL pipeline. This is a slap at Canada, and it sends a message to investors that playing by U.S. rules provides no immunity from arbitrary political whim. SourceContinue Reading

The move would block the sale of new mining and drilling rights across some 700 million acres of federal land. It could also block offshore oil and gas leasing, though details are still being developed. SourceContinue Reading

Alberta, home to the world’s third largest oil reserves, viewed the line as essential for delivering its heavy crude to U.S. refineries at a time when alternate supplies from Latin America were dwindling. SourceContinue Reading

“We need to also discuss which economic relations in the gas sector are possible with Russia, and which aren’t,” Merkel said during a news conference in Berlin Thursday, referring to planned talks with Joe Biden’s government. “My basic position on Nord Stream 2 hasn’t changed,” she added, when asked about plans to complete the pipeline...Continue Reading

Libya is seeking funding from foreign oil companies to fix its ailing infrastructure after years of war and neglect, the nation’s top energy official said. SourceContinue Reading

Energean PLC announced a Final Investment Decision has been taken on the North El Amriya and North Idkunea concession subsea tieback project in offshore Egypt. SourceContinue Reading

Jason Kenney said Justin Trudeau should demand the new U.S. administration sit down and discuss the project in the context of environmental, climate and security policy. If that fails, Canada should be willing to impose “meaningful” punitive measures against its biggest trading partner. SourceContinue Reading