“Continued safe and responsible development of the Gulf of Mexico will continue to benefit every American. Otherwise the energy will be produced elsewhere, serving to diminish our energy, economic and national security,” National Ocean Industries Association president Erik Milito said in a statement. SourceContinue Reading
By adding hydrogen to the crude oil it already produces and sells, Saudi Arabia hopes to preserve its role as an important energy supplier, including to countries shifting away from pollution-emitting fossil fuels. SourceContinue Reading
Aramco issued the debt on Tuesday after slumping crude prices caused profit to fall by 45% in the third quarter. That’s left it unable to generate enough cash to fund promised shareholder payouts reaching $75 billion this year. SourceContinue Reading
The companies will work together towards summer 2021 to assess the market for lithium-ion batteries in Europe and mature the business case for a green battery business located in Norway. SourceContinue Reading
Activist investor Kimmeridge Energy Management Co. has built new positions in Ovintiv Inc., PDC Energy Inc., and Cimarex Energy Co. and plans to push for changes at the oil and gas companies to improve their performance and governance. SourceContinue Reading
Partnerships with indigenous communities, which often spearhead opposition to oil pipelines, is one of several strategies that TC Energy hopes will make the project more palatable to the incoming administration in the U.S., said Bevin Wirzba, TC’s president of liquids pipelines. SourceContinue Reading
Chevron has long argued the U.S. benefits from having a producer on the ground in a country that holds the world’s largest crude reserves. But Trump’s sanctions against Maduro’s regime have won bipartisan support, making it difficult for Biden to change tack. SourceContinue Reading
“If Joe Biden continues making corporate-friendly appointments to his White House, he will risk quickly fracturing the hard-earned goodwill his team built with progressives to defeat Donald Trump,” Justice Democrats executive director Alexandra Rojas said in a statement. SourceContinue Reading
The U.S. Energy Information Administration expects annual global petroleum demand will not recover to pre-pandemic levels (101.5 MMbpd in 2019) through at least 2021. EIA forecasts that global consumption of petroleum will average 92.9 MMbpd in 2020 and 98.8 MMbpd in 2021. SourceContinue Reading
