The Denver Julesburg (DJ) Basin located in Colorado and Wyoming has experienced a constant decline since production peaked in November 2019. Reversing this trend will depend on the capital allocation from major oil and gas operators in this region, says GlobalData, a leading data and analytics company. SourceContinue Reading
“Much greater resources have to be mobilized and directed to clean energy technologies to put the world on track to reach net-zero emissions by 2050,” said Fatih Birol, the IEA’s executive director. Among other milestones, the IEA’s 2050 plan depends on all new oil and gas exploration worldwide being halted several weeks ago. SourceContinue Reading
Under an Interior Department order issued Tuesday, the agency is temporarily halting action on nine leases spanning more than 400,000 acres (161,870 hectares) of the Arctic National Wildlife Refuge, while it conducts a fresh environmental analysis of the program. SourceContinue Reading
“The strategic approach to digital transformation, the adoption of the OSDU Data Platform, and the DELFI environment position PETRONAS among the digital leaders of the industry, and we are proud to be supporting them in this journey,” said Rajeev Sonthalia, president of Digital and Integration, Schlumberger. SourceContinue Reading
Chevron and top American oil-service companies won an extension to keep a limited presence in Venezuela despite U.S. sanctions intended to starve President Nicolas Maduro’s regime of petrodollars. SourceContinue Reading
OPEC+ stuck to its plan to hike oil output in July, but Saudi Arabia’s energy minister kept the market guessing as to whether the group will add more supply later this year to keep pace with the accelerating global recovery. SourceContinue Reading
“When you consider the 20-gigawatt target we’ve laid out until 2025, it’s a significant move forward,” Dev Sanyal, BP’s head of gas and low-carbon energy, said in an interview. SourceContinue Reading
A bleak assessment of Iran’s nuclear transparency cast a pall over months of arduous diplomacy aimed at restoring its atomic accord with world powers that has major implications for Middle Eastern security, global business and oil markets. SourceContinue Reading
A robust recovery in the U.S. and Europe has given OPEC+ the confidence that markets can absorb additional barrels, despite the prospect of more supply from Iran should a nuclear deal be revived, and a Covid-19 comeback in Asia, most notably India. SourceContinue Reading
Exxon Mobil is pulling out of a deep-water oil prospect in Ghana just two years after the west African nation ratified an exploration and production agreement with the U.S. oil titan. SourceContinue Reading
