The mission to store CO2 beneath the Danish North Sea has cleared the first major hurdle after the intended subsea reservoir was confirmed feasible for CO2 injection by independent certification body DNV GL to the endorsement of Danish authorities. SourceContinue Reading
With the prospect of a coronavirus vaccine improving oil’s longer-term outlook, there’s been a renewed rally in the forward curve. On Wednesday the much-watched spread between Brent’s nearest two December contracts briefly flipped into a bullish backwardation for the first time since March. SourceContinue Reading
No less than “democracy in Europe” and the EU’s “image of U.S. companies” are on the line, a German industrial group warned House of Representatives Speaker Nancy Pelosi last week in a letter. With broad-based opposition to the pipeline in the U.S., German hopes that the president-elect will reverse sanctions may be misplaced. SourceContinue Reading
Invoking a climate emergency could give Biden the authority to circumvent Congress and fund clean energy projects, shut down crude oil exports, suspend offshore drilling and curtail the movement of fossil fuels on pipelines, trains, and ships. SourceContinue Reading
Reduced activity levels, project cancellations and workforce cuts as a result of the coronavirus pandemic have slashed business confidence across the UK’s oil and gas sector, according to an industry report. SourceContinue Reading
Two of the oil market’s most-watched inter-month price spreads — one denoting short-term strength, the other reflecting an improving longer-term outlook — this week flipped into what traders call backwardation, a structure that’s generally seen as reflecting tighter conditions. SourceContinue Reading
Silixa announced the launch of Carina CarbonSecure, its distributed acoustic sensing based solution for continuous or on-demand monitoring of all stages of carbon capture and storage operations. SourceContinue Reading
“There is a creeping politicization of the banking industry that has the propensity to be very, very dangerous,” Acting Comptroller of the Currency Brian Brooks told reporters Friday in a call about the rule, which would affect lenders with more than $100 billion in assets. SourceContinue Reading
Saudi Arabia condemned the strike, saying “terrorist and sabotage acts committed against vital installations target the security and stability of energy supplies to the world,” the official Saudi Press Agency reported. SourceContinue Reading
Venture Global LNG announced that KBR has been awarded the engineering, procurement and construction contract as lead contractor for Phase 1 of the Plaquemines LNG export project currently under development in Plaquemines Parish, Louisiana. SourceContinue Reading
