The proposal under development is set to outline potential sales of long-plumbed territory in the Gulf of Mexico, as well as waters around Alaska and near Southern California, where exploratory oil drilling was last conducted decades ago. Atlantic waters near the coasts of Maryland and Delaware are also included in the proposed sale program. SourceContinue Reading
Shale operators slashed their planned capital expenditure (capex) for 2020 to account for the oil price crash, which inevitably led to decline in drilling and completion activity in the Eagle Ford play. Hence, crude oil production is expected to drop by 10% year-on-year (YOY) in 2021, says GlobalData, a leading data and analytics company. SourceContinue Reading
In a new series of clean power agreements, BP has agreed to more than triple the renewable power that it will supply Amazon in Europe, while Amazon Web Services will enable the acceleration of BP’s program to digitize its infrastructure and operations. SourceContinue Reading
The 250MW corporate power purchase agreement, the largest ever for offshore wind in Europe, will help Amazon achieve their commitment to be net zero carbon by 2040 as set out in their Climate Pledge. SourceContinue Reading
Egypt, which started a sweeping economic reform program about four years ago, has been reworking to revamp and re-energize state-owned companies and attract foreign investors who have so far largely been attracted to the North African nation’s debt market and energy industry. SourceContinue Reading
Canada became the latest country to approve a Covid vaccine and Chicago said it will offer inoculations free of charge to all adults next year. These helped traders on Thursday dismiss the second-biggest increase ever in U.S. crude inventories. SourceContinue Reading
Transportation-related CO2 emissions fell to 102 million metric tons in April 2020, the lowest monthly level since February 1983. SourceContinue Reading
OPEC’s third-largest oil producer and Israel held their first natural gas and petroleum working group meeting, UAE’s state-run WAM news agency reported on Thursday. SourceContinue Reading
Oil has chopped around nine-month highs this week as the market holds out for an upcoming vaccine rollout to spur another leg of demand recovery. Before then, worries about the pace of the demand recovery continue to weigh on sentiment as governments reimpose restrictions to fight off the virus’s spread. SourceContinue Reading
Non-metallic products are being deployed in a variety of industries, from the oil and gas sector to automotive, building and construction, packaging and renewables. In addition to being more sustainable, these advanced materials make them lighter than their conventional counterparts and resistant to corrosion. SourceContinue Reading
