While progress has been made in recent years on the commercial framework for the Tanzania LNG project, overall project economics have not yet improved sufficiently to justify keeping it on the balance sheet, Equinor said in a statement. SourceContinue Reading
In a harbinger for the rest of the oil industry, Chevron’s results evince the challenges facing energy producers battered by 2020’s pandemic-driven collapse in demand and prices. SourceContinue Reading
After former Secretary of State John Kerry, warned that natural gas pipelines could become “stranded assets” within 30 years as the administration seeks to end carbon emissions from power plants, owners turn to hydrogen to keep three million miles of U.S. pipelines from going obsolete. SourceContinue Reading
“We are rooting for President Biden to lead America out of crisis,” API President and CEO Mike Sommers said. “As he works toward that important goal, he faces clear choices. Energy abundance or foreign dependence. American jobs or overseas jobs. Economic revival or small-town decline. Progress or retreat. Thus far, President Biden is on the...Continue Reading
In the days before taking office, President Biden promised to unify the country. Then, in his first order of business, promptly alienated Alaska and other states that rely on energy development to keep the lights on in their communities. SourceContinue Reading
High on the agenda for the U.S. and Indian oil companies: reinstating transactions known as oil swaps that would allow companies to receive Venezuelan crude in exchange for supplying diesel fuel. SourceContinue Reading
Neptune Energy and its joint venture partners bp and JAPEX, announced drilling has commenced on the Seagull project in the UK Central North Sea. SourceContinue Reading
How the fragmented U.S. shale industry will respond to increased incentives to drill has become a crucial question for traders and industry watchers across the world. SourceContinue Reading
“The region that would bear the brunt of the oil and gas ban are the deep waters of the Gulf of Mexico since it’s entirely owned by the U.S. government,” said Elisabeth Murphy, ESAI Energy LLC upstream analyst for North America. It would mean a 40% output drop for the Gulf by 2030, she said....Continue Reading
When President Biden banned fossil fuel leases on federal lands, he left out coal — the fossil fuel most widely blamed for global warming. It was a conspicuous omission for a president who has vowed to make the electric grid carbon-free by 2035 and who has said the world’s “future rests in renewable energy.” SourceContinue Reading
