The decision means Canada’s most ambitious environmental policy to date, which would see the baseline price on carbon rise to C$170 ($135) per metric ton by 2030, will stand. SourceContinue Reading
Noble Corporation and Pacific Drilling Company have entered into a definitive merger agreement under which Noble will acquire Pacific Drilling in an all-stock transaction. SourceContinue Reading
Tenaris is scaling up industrial activity at its Conroe, Texas plant, adding about 140 employees onboard to support the facility’s ramp up, which includes a $600,000 investment in IT and automation infrastructure. SourceContinue Reading
Work to re-float the Ever Given and free up oceangoing carriers hauling almost $10 billion of oil and consumer goods continued without success on Thursday in Egypt. The Suez Canal Authority has temporarily suspended traffic along the waterway. SourceContinue Reading
Futures in New York slid 1.6%, the latest sizable move this week. Work to re-float the container ship that’s stuck in the Suez Canal — a key trade route for crude flows — was expected to begin early Thursday in Egypt. The best chance of freeing the vessel may not come until Sunday or Monday....Continue Reading
Futures in New York jumped 5.9% on Wednesday, just about erasing the prior session’s price plunge that pushed futures to the lowest since early February. A U.S. inventory report showed domestic fuel consumption is at the highest in four months and Gulf Coast refiners are increasing their appetite for crude. SourceContinue Reading
Emissions from the Permian basin dropped 60% from March to April last year as oil producers shut in wells and cut back on new ones due to tumbling crude prices. But methane emissions are now back at pre-pandemic levels as drilling ramps up, according to the non-profit Environmental Defense Fund. SourceContinue Reading
The oil price needed to profitably drill a new well is $52 a barrel, executives from almost 100 producers said in the latest quarterly survey by the Federal Reserve Bank of Dallas. That’s an increase of 6%, compared with when the question was asked last year. To cover costs on existing wells, companies need $31,...Continue Reading
Energy Minister Anne-Marie Trevelyan said the UK could eventually follow in the footsteps of North Sea neighbor Denmark which will stop offering new oil and gas licenses and end production by 2050. SourceContinue Reading
Equinor has awarded Tenaris the supply of tubulars for the Northern Lights CO2 transport and storage facilities in Norway. From its Dalmine mill in Italy, Tenaris will produce 105km 12” Carbon Manganese (C-Mn) seamless line pipe for the milestone project. SourceContinue Reading
