Saudi Energy Minister Prince Abdulaziz bin Salman said he could see a light at the end of the tunnel thanks to the development of Covid-19 vaccines, but the market had some way to go before getting there. SourceContinue Reading

PTTEP expects the resulting high-quality images will improve the definition of producing reservoirs, enable enhanced planning and drilling of future wells, and open up new plays for near-field exploration at deeper intervals. SourceContinue Reading

The Anglo-French oil company is seeking to buy a controlling stake in block CI-11, currently operated by a consortium that includes the state-run company Petroci, which has a 68% stake. SourceContinue Reading

OTC organizers said that new in-person and virtual activities will be planned to “ensure the conference continues to provide a platform for energy professionals to meet and exchange ideas.” SourceContinue Reading

Developed in collaboration with TechnipFMC, DNVGL-RP-A204: Qualification and assurance of digital twins sets a benchmark for the sector’s varying approaches to building and operating the technology. SourceContinue Reading

Moderna’s shot had efficacy of 94.5% in a preliminary analysis of a large late-stage clinical trial. It follows similar positive developments in a vaccination being jointly developed by Pfizer Inc. last week, buoying commodity prices globally. SourceContinue Reading

Slumping profits have left Aramco unable to generate enough cash to fund the investor payouts, almost all of which go to the Saudi government, which in turn needs the money to plug a widening budget deficit. SourceContinue Reading

Crude prices have rallied to a 10-week high on hopes that Moderna, Pfizer Inc. and BioNTech SE’s breakthroughs could soon revive the economic activity that underpins fuel consumption. Nonetheless, the alliance of producers led by Saudi Arabia and Russia is discussing a delay of the supply boost they’d hoped to make in January. SourceContinue Reading

In Alaska, Michigan and Norway, partisans on the left and right are sparring in the courts to implement their vision for the future of energy. Operations from small shale plays to multi-billion-dollar offshore installations suddenly hang in the balance as the regulatory outlook becomes increasingly cloudy. SourceContinue Reading

Gulfport, which produces gas from fields in Ohio and Oklahoma, was grappling to stay afloat even before Covid-19, after a series of acquisitions over the past decade left it too indebted to weather the energy rout. SourceContinue Reading