Two weeks ago, the world’s biggest crude exporter stunned energy traders by announcing that — rather than restore halted production as planned — it would slash supplies by a further 1 million barrels a day. On Tuesday, the International Energy Agency slashed forecasts for world oil demand in the first quarter as countries hunker down...Continue Reading
India’s oil minister and the Organization of Petroleum Exporting Countries’ top official publicly jousted over the cartel’s policy shift at a conference hosted by the Atlantic Council on Tuesday. SourceContinue Reading
The five-year consolidated services contract, valued at $130 million, will see Wood leverage its experience and capability in late life asset optimization and management to extend field life, lower costs, and reduce late life carbon intensity across the Hub’s offshore assets in the East Irish Sea and the Barrow onshore gas terminal on the northwest...Continue Reading
The United Arab Emirates will use carbon-capture technologies to create what’s known as blue hydrogen on its path to becoming a major exporter of the fuel, Sultan Al Jaber, CEO of Abu Dhabi National Oil Co., said at a virtual conference on Tuesday. SourceContinue Reading
“This year’s award of 61 new production licenses to as many as 30 companies shows that the petroleum industry still has significant expectations of making profitable discoveries on the Norwegian Shelf,” says director license management in the Norwegian Petroleum Directorate, Kalmar Ildstad. SourceContinue Reading
The top U.S. financial regulator’s reported investigation into how Exxon Mobil values shale assets follows years of concerns about the industry’s rosy projections, which have left hundreds of billions of dollars of investor losses and writedowns. SourceContinue Reading
Mozambique has struggled to contain an insurgency that has left more than 2,500 people dead and caused 570,000 to flee. The violence this year prompted Total SE to evacuate workers from its $20 billion liquefied natural gas project as attacks encroached on what is Africa’s biggest private investment. SourceContinue Reading
The total value of the firm contracts is approximately USD $100MM, including rig modifications, integrated services provided, and a mobilization fee for Maersk Valiant. The contracts include various extension options. SourceContinue Reading
Agriculture remains the largest source of human-caused methane emissions, while the energy sector comes next. Oil production is responsible for around 40% of the energy industry’s methane emissions, with the natural gas value chain accounting for the remaining 60%. SourceContinue Reading
