While the usual differences between Russia and Saudi Arabia are present, all sides are ready to increase production, putting OPEC on track to implement the majority of the 1.5 million barrels per day output increase that’s up for debate on Thursday. SourceContinue Reading

This year’s oil rally has paved the way for the alliance to unleash some barrels, with OPEC Secretary-General Mohammad Barkindo saying on Tuesday that both the wider economic outlook and oil-market fundamentals continue to improve. SourceContinue Reading

The leaders of Saudi Aramco and Chevron see the market for oil and gas improving this year, with some momentum in the back half. But that outlook is tempered by the fact that the pandemic has forced some changes to the way that business is conducted. SourceContinue Reading

While most hydrogen is currently extracted from gas, there’s a push to use renewable energy to make the fuel from water, which wouldn’t generate carbon emissions. Oil and gas companies have “incredible infrastructure” to transport hydrogen, Kerry said. SourceContinue Reading

In mid-January the U.S. blacklisted Maltese trading company Elemento Limited and Geneva-based Swissoil Trading SA for facilitating Maduro’s attempts to circumvent U.S. sanctions. SourceContinue Reading

The Chamber of Commerce embraced market-based policies to limit emissions in January, and several of API’s largest members, including Exxon Mobil, ConocoPhillips, BP and Royal Dutch Shell already support a carbon tax-and-rebate plan. SourceContinue Reading

Baker Hughes and Akastor ASA have announced an agreement to create a joint venture company that will bring together Baker Hughes’ Subsea Drilling Systems business with Akastor’s wholly owned subsidiary, MHWirth AS. SourceContinue Reading

The work scope includes the provision of remotely operated vehicles with collocated ROV tooling and technicians, remote positioning and metrology survey resources, and installation and workover control system equipment and technicians. SourceContinue Reading

OPEC and its allies have been constricting oil supplies since the pandemic crushed demand almost a year ago. To disperse the lingering stockpile surplus, the Saudis pledged extra crude reductions during February and March. SourceContinue Reading

With the “Evolution of the Upstream Business Model” panel, CERAWeek explored the significant variations in the ways major oil and gas firms are approaching the changing landscape of the energy transition. SourceContinue Reading