OPEC expects world oil demand will return to pre-crisis levels in 2022, by which time the group will need to provide 34.3 million barrels a day, or about 1.4 million more than previously projected. The 13-member cartel controls about a third of global supplies. SourceContinue Reading
The world’s biggest producer of wind and solar power has now surpassed the oil majors, leading a spectacular rally in power stocks as much of the world shuns fossil fuels to fight climate change. SourceContinue Reading
Equinor’s Johan Sverdrup offshore platform will have to close production until further notice if an ongoing labor strike continues into next week, the Norwegian supermajor said in a statement. SourceContinue Reading
The expansion of the Fleet LTE service means customers in both the North Sea and Gulf of Mexico can access high speed 4G, Fleet Xpress maritime VSAT Ka-band and continuous L-band connectivity within a single, fully managed hybrid package. SourceContinue Reading
Leading controls technology company Proserv Controls has penned a strategic alliance with power system monitoring leader Synaptec to develop a cutting-edge integrated holistic cable monitoring system, which will reduce downtime, improve safety and lower operating costs at offshore wind farms. SourceContinue Reading
Only seven out of 59 companies studied — Royal Dutch Shell Plc, Repsol SA, Total SE, Eni SpA, Glencore Plc, Anglo American Plc and Equinor ASA — have set emissions reduction targets in line with pledges made in the Paris Agreement, according to a report by the Transition Pathway Initiative. SourceContinue Reading
The regulator said the 9.5 billion-euro ($11 billion) pipeline will impede competition and “violates the interests of consumers.” SourceContinue Reading
Trump told his negotiators to stop discussions with Democratic leaders just hours after Federal Reserve Chair Jerome Powell stepped up his call for more spending to avoid damaging the economic recovery. SourceContinue Reading
Caterpillar Inc. has signed an agreement to acquire the Oil and Gas Division of the Weir Group PLC, a Scotland-based global engineering business. Headquartered near Fort Worth, Texas, Weir Oil and Gas produces a full line of pumps, flow iron, consumable parts, wellhead and pressure control products. SourceContinue Reading
NOV recently delivered the world’s longest and heaviest coiled tubing work string, which comprised 7.57 miles of continuously milled carbon steel tubing. SourceContinue Reading
