Shell and Equinor will develop the next generation of Shell Inventory Optimizer, a solution that leverages advanced analytics on historical data to optimize operational spare part inventory levels. Microsoft will be supporting Shell and Equinor with the co-development of the tool, which runs on Microsoft Azure. SourceContinue Reading

On Dec. 14th, the groups filed requests with an Anchorage judge for a preliminary injunction to prevent the Interior Department’s planned Jan. 6 auction of oil and gas leases across the refuge’s 1.56-million-acre coastal plain. SourceContinue Reading

The funding decision demonstrates the Norwegian government’s support for the development of a Carbon Capture and Storage value chain, which is essential if Europe is to achieve its carbon neutrality targets. SourceContinue Reading

Algeria’s Energy Minister Abdelmajid Attar, who holds OPEC’s rotating presidency, said there was no guarantee the group and its allies would raise crude production by 2 million barrels a day by April, even after an agreement earlier this month to reach that level in steps. SourceContinue Reading

Home to the Bakken shale formation, North Dakota won’t see any sustained growth in production sooner than the second half of 2022, Lynn Helms, director of the state’s Department of Mineral Resources, said. SourceContinue Reading

“Demand is clearly going to be lower for longer than expected” when the virus emerged in the spring, the agency said in a report, trimming forecasts for world fuel consumption following a new wave of lockdowns. “The market remains fragile,” it warned. SourceContinue Reading

The strategic partnership will enable a single search point to access all three companies’ multi-client data and allow customers to interactively find, visualize and download their subsurface assets and entitlements all in one place. SourceContinue Reading

Exxon pledged to reduce the intensity of upstream emissions by as much as 20% by 2025 as well as cutting flaring and methane leaks, consistent with the goals of the Paris Agreement. SourceContinue Reading

“Uncertainties remain high, mainly surrounding the development of the Covid-19 pandemic and rollout of vaccines, as well as the structural impact of Covid-19 on consumer behaviors, predominantly in transportation sector,” OPEC’s Vienna-based secretariat said in the report. SourceContinue Reading

Steady output from their mines means that oil sands producers are able to keep revenue coming for decades without too much investment, while the short life span of shale wells forces U.S. explorers to constantly burn cash just to keep up production. SourceContinue Reading