The two energy giants have signed a non-binding agreement to discuss combining their upstream portfolios in the West African nation. That could be a boon to the country’s beleaguered oil industry, which has seen production slump by more than a third since 2015 amid chronic under-investment. SourceContinue Reading

West Texas Intermediate for June delivery tumbled 1.4%, while global benchmark Brent also declined. Stock markets fell on inflation fears, while the dollar climbed, hampering prices. There was also an increase in U.S. crude stockpiles last week, the American Petroleum Institute reported. SourceContinue Reading

“Our goal is to have several vessels operating in Norway – both in the oil and gas industry and floating wind,” said Duncan MacPherson, the new managing director in Norway for Maersk Supply Service. SourceContinue Reading

“The so-called CLEAN Future Act is nothing more than the Green New Deal in lipstick,” said Texas Railroad Commissioner Wayne Christian. “This legislation would effectively federalize regulation of oil and gas, increasing costs to consumers and our national debt, while harming our energy independence and national security.” SourceContinue Reading

Mikhail Ulyanov, Russia’s representative at the United Nations’ International Atomic Energy Agency, said that while significant progress had been made by officials seeking to orchestrate a U.S. return to the pact abandoned by then-President Donald Trump, “unresolved issues still remain.” SourceContinue Reading

“The balance of risks and rewards associated with our onshore portfolio is no longer compatible with our strategic ambitions,” Shell CEO Ben van Beurden told investors at Shell’s annual general meeting on Tuesday. SourceContinue Reading

“This solution enables enhanced reservoir understanding for our customers with a lower total cost of ownership relative to conventional 4D seismic,” said Jan Schoolmeesters, executive vice president of TGS Operations and New Energy Solutions. SourceContinue Reading

The International Energy Agency has a bold interpretation for what must be done to avert a climate crisis – and its measures stand in stark contrast to current economic and technological realities. SourceContinue Reading

Traders are optimistic about the prospects for a bullish summer as consumption snaps back with travel re-opening. As a result, much of Wall Street is calling for higher prices in the coming months, with Goldman Sachs Group Inc. talking up the prospects of $80 a barrel. SourceContinue Reading

Crude is up over 4% so far this month, though a further price breakout is being held back by a tepid recovery in Asia, where the coronavirus is crippling key importer India, and Singapore and Taiwan grapple with new outbreaks. SourceContinue Reading