Global oil demand won’t return to pre-pandemic levels until 2023, and growth will be subdued thereafter amid new working habits and a shift away from fossil fuels, the International Energy Agency said. SourceContinue Reading

Exxon Mobil said in a letter to shareholders March 16th that Engine No. 1’s approach ignores the role oil and natural gas will play in the future, and the leadership role the oil giant intends to take in reducing emissions through the development of lower-carbon technologies. SourceContinue Reading

Futures in New York slipped 0.9% on Tuesday for a third straight session of losses, following a surge earlier this month to intraday levels last seen in 2018. Though there are indications of growing demand in some parts of the world, other regions — notably Europe — are lagging. SourceContinue Reading

The Senate’s 51-40 vote underscored deep opposition from Republicans who worry Haaland’s criticism of fossil fuels means she will discourage oil development across hundreds of millions of acres of federal land under the Interior Department’s control. SourceContinue Reading

Chevron’s pledge of “ever-cleaner energy” amounts to so-called greenwashing because it hides the reality that the company’s production plans may end up increasing absolute emissions, according to a Federal Trade Commission complaint filed by Global Witness, Greenpeace USA and Earthworks. SourceContinue Reading

With new coronavirus infections falling to a record low last week and vaccination efforts ramping up, the latest crude demand rebound comes with a lower threat of being set back again by new outbreaks. SourceContinue Reading

Sercel and Kappa Offshore Solutions introduced PIKSEL, a compact marine seismic solution specially designed for acquiring seismic data for high-resolution 3D imaging of targeted offshore areas. SourceContinue Reading

More focused than ever on keeping spending in check, shale drillers haven’t been boring new wells fast enough to keep up with output declines in older ones. So, next month, their combined production will edge lower by 47,000 barrels a day to about 7.46 million, according to the U.S. Energy Information Administration. SourceContinue Reading

Libya’s back in the oil game after years of false starts and setbacks. Energy facilities shut or damaged during its civil war were reopened last year and the OPEC member has managed to keep its production above 1 million barrels a day since November. SourceContinue Reading

The Madero and Ignacio energy storage plants will deliver valuable grid support to the Electric Reliability Council of Texas (ERCOT), the body responsible for managing the electric supply to more than 25 million customers. SourceContinue Reading