Brent will probably continue ranging between $38 and $43 a barrel, according to Ibrahim Al-Buainain, head of Aramco’s trading unit. That’s far below what most members of the cartel, including Saudi Arabia, need to balance their budgets. SourceContinue Reading
Officials at the European Commission, the union’s executive arm, are assessing ways to reduce pollution from gaseous fuels as part of the Green Deal, an environmental clean-up of the entire economy. SourceContinue Reading
Weatherford International announced its smart rod-lift solution, comprised of production optimization software, automation, and skilled engineers, boosted uptime 42 percent and increased production 37 percent for 40 reciprocating rod-lift wells in Sumatra, Indonesia. SourceContinue Reading
“Biden is not going to be able to ram through a costly, zero-carbon mandate through a Republican Senate. Obama couldn’t do it with control of both the House and the Senate,” said Dan Eberhart, a Republican donor and chief executive of drilling services company Canary Drilling Services LLC. SourceContinue Reading
Tourmaline Oil Corp. is buying two rivals in the Canadian oil and gas industry’s latest move to weather its worst downturn in a generation. SourceContinue Reading
While the outcome of the presidential race remains unclear, a Joe Biden victory would likely coincide with a Republican-controlled Senate that could hinder his efforts to address climate change, promote clean energy and roll back fossil-fuel subsidies. SourceContinue Reading
A move to alternative power sources is already underway, “but Biden’s policies are speeding up the transition process, while Trump is trying to slow it down,” said Carlyn Taylor, global co-leader of corporate finance and restructuring at FTI Consulting Inc. SourceContinue Reading
Philippine Energy Secretary Alfonso Cusi said PXP Energy Corp. can survey Reed Bank in the disputed sea even without partnering with China National Offshore Oil Corp. SourceContinue Reading
