The province’s economy is expected to contract 8.1% this year, the most on record, because of virus restrictions and the downturn in oil prices. Home of the world’s third-largest crude reserves, outbreaks have happened at at least seven oil-sands sites in the north of the province. SourceContinue Reading
Government-owned Abu Dhabi National Oil Co. picked Occidental to explore for oil and natural gas at a block in the desert along the UAE’s border with Oman, ADNOC said Wednesday in a statement. The block is adjacent to an exploration area that ADNOC awarded to Occidental last year. SourceContinue Reading
Brazil’s surge in oil demand is a welcome development for a global market that’s been forced to push back expectations for when energy demand might get back to pre-virus levels. SourceContinue Reading
A survey of Norwegians in November showed that only 36% were favorable about onshore wind as an energy source, down from as much as 84% in 2011. Oil’s popularity has increased to 29% from just 16% five years ago. SourceContinue Reading
The deal is the latest example of China, via state-controlled trading companies and banks, lending to struggling oil producers such as Angola, Venezuela and Ecuador, with repayment in the form of oil barrels rather than cash. SourceContinue Reading
The deal is the latest example of China, via state-controlled trading companies and banks, lending to struggling oil producers such as Angola, Venezuela and Ecuador, with repayment in the form of oil barrels rather than cash. SourceContinue Reading
Momentum continues to build behind the 23rd World Petroleum Congress, and looks set to continue into 2021, according to the 23rd World Petroleum Congress Organizing Committee. SourceContinue Reading
America’s oilfield services and equipment sector employment rose slightly for a third month, adding an estimated 2,665 jobs in November, according to preliminary data from the Bureau of Labor Statistics and analysis by the Petroleum Equipment and Services Association. SourceContinue Reading
“I’m quite hopeful that with the new administration coming in, there will be change of sentiment and hopefully a change of direction,” Ben van Beurden said in the Web Summit conference. Without increased cooperation “I don’t think we are going to succeed in the energy transition.” SourceContinue Reading
In February, the EU imposed asset freezes and travel bans on two employees of Turkish Petroleum Corp. in response to Turkey’s natural-gas gas hunt off Cyprus. A Cypriot proposal to include Turkish entities and add individuals to that blacklist has been held up since June. SourceContinue Reading
