OPEC+ ministers will now meet on Thursday rather than Tuesday to allow more time to deliberate on whether to delay a planned increase in output from January. SourceContinue Reading
Exxon disclosed it will write down the value of North and South American natural gas fields by $17 billion to $20 billion as cratering crude prices, a global supply glut and a pandemic-driven collapse in fuel sales strain the balance sheet. SourceContinue Reading
The 23-nation coalition is debating whether to maintain the output cuts at current levels, deferring the increase scheduled for January. Some members are concerned that global markets remain too fragile to absorb additional barrels — particularly after Libya’s output soared — while others are keen to sell more crude. SourceContinue Reading
The proposed tie-up of SandP with IHS Markit, a research firm with more than 5,000 analysts, data scientists, financial experts and industry specialists, is part of a race for scale as the industry’s largest players try to capitalize on surging demand for data and analytics in increasingly computerized financial markets. SourceContinue Reading
PDO operates a concession in Oman that covers almost one third of the country’s land surface area. This makes the DPC a critical proving ground for deploying new technology and workflows that can meet the highly variable imaging requirements of PDO’s exploration and production activities. SourceContinue Reading
The gesture is part of a broader series of moves meant to improve the atmospherics before EU leaders sit down on Dec. 10 to discuss a response to Turkish maritime activities in waters also claimed by bloc members Cyprus and Greece. SourceContinue Reading
CNOOC’s operations in the South China Sea have run into controversy because China claims drilling rights in waters far from its borders, and within 200 miles of countries like Vietnam and the Philippines. SourceContinue Reading
Abu Dhabi National Oil Co. is a potential contender to buy a local offshore oil-services firm that counts the state-owned crude producer among its major clients, according to people familiar with the matter. SourceContinue Reading
Market-watchers have been expecting OPEC+ to agree on a three-month delay — and if the group doesn’t deliver prices will suffer. At stake also is the credibility of the cartel whose actions have underpinned the market since the spectacular oil crash earlier this year. SourceContinue Reading
When OPEC+ meets this week in Vienna, impatient member states, surging Libyan production, and Chinese demand splitting off from the West will create headaches for ministers. Also, Arctic drilling plans in the U.S. and Norway are being motivated less by economics and more by geopolitical maneuvering, and the North American drilling rig count shows strength...Continue Reading
