“Diamondback is not getting left behind if we don’t do anything today,” CEO Travis Stice said on the company’s third-quarter earnings call, adding that the company doesn’t need to boost scale to reduce its costs. “We prefer not to make rash decisions at the bottom of the cycle.” SourceContinue Reading
“Texas will determine its own energy future, and that is a future that includes an all of the above approach led by fossil fuels,” Wright said in a statement. “Together we will find new ways to improve our climate and environment.” SourceContinue Reading
Baker Hughes’ acquisition of Compact Carbon Capture underpins a strategic commitment to lead in the energy transition by providing decarbonization solutions for carbon-intensive industries, including oil and gas and broader industrial operations. SourceContinue Reading
Petrofac Limited announced that the Group has completed the sale of its remaining 51% interest in its upstream IES operations in Mexico, including Santuario, Magallanes and Arenque, to Perenco Energies International Limited. SourceContinue Reading
Aramco’s dividends are a vital source of cash for the Saudi government, whose budget deficit is expected to widen to 12% of gross domestic product this year amid a coronavirus-triggered crash in crude prices and a severe economic contraction. SourceContinue Reading
The move will help Qatar “avoid negative economic consequences due to oil-price volatility,” Emir Sheikh Tamim bin Hamad Al Thani told members of the country’s legislative body, the Shura Council, on Tuesday. SourceContinue Reading
Oil gained, following a broader risk-on sentiment in markets and as OPEC+ inches closer to delaying a planned easing of output cuts. SourceContinue Reading
As the U.S. presidential election cycle nears its final chapter on Tuesday, and Tuesday evening, we at World Oil think it’s appropriate to remind our fellow professionals in the U.S. oil and gas industry what is at stake. SourceContinue Reading
Against a backdrop of sagging demand and signs of growing supply, the world’s biggest oil buyer raised the quota for use of overseas oil by non-state entities next year by more than 20% versus 2020, according to an announcement from the Ministry of Commerce. SourceContinue Reading
Dresser Natural Gas Solutions, a leading provider of measurement, instrumentation and piping solutions to the natural gas distribution and transmissions markets, has acquired Flow Safe, a manufacturer of spring-operated and pilot-operated high performance pressure relief devices. SourceContinue Reading
