Opinion: A just energy transition for Nigeria and its oil and gas sector will attract investment and create opportunity

Nigeria shouldn’t leave its gas in the ground and run the risk of ending up with an energy transition that unfairly deprives its citizens of energy, as well as opportunity. ...»

INEOS Energy completes the $615m sale of its Norwegian oil and gas business to PGNiG

The deal includes all INEOS Oil and Gas interests in production, licenses, fields, facilities and pipelines, on the Norwegian continental shelf and continues to rebalance INEOS’ oil and gas portfolio. ...»

Wood expands operations in Southern North Sea with Shell and NAM award

Wood, the global consulting and engineering company, continues to expand its operations in the Southern North Sea with the award of a new operations and maintenance contract with Shell UK and Nederlandse Aardolie Maatschappij. ...»

IPAA Energy Workforce Education Center provides content to high school classrooms across the U.S.

Now in its second year, this program is free to students and educators and its mission is to empower and encourage them to delve into the energy industry and its many career fields through a variety of video showcases, virtual tours, and virtual visits to classrooms by respected professionals. ...»

China orders its energy firms to secure winter supplies “at all costs”

China’s central government officials ordered the country’s top state-owned energy companies -- from coal to electricity and oil -- to secure supplies for this winter at all costs, according to people familiar with the matter. ...»

Biden renews OPEC outreach as oil prices climb 10% in September

Oil closed the month almost 10% higher after a tumultuous session where China was said to order its top energy companies to secure supplies at all costs, prompting the White House to reiterate its concern over rising prices. ...»

Vine Energy deploys Baker Hughes’s advanced analytics to enhance gas production and curtail methane emissions

Natural gas producer Vine Energy has signed a contract with global Baker Hughes to deploy its artificial lift solution, ProductionLink Edge, across 100 natural gas wells in Louisiana’s Haynesville Shale. ...»

Schlumberger and AVEVA to advance digital solutions for oil and gas production operations

Schlumberger and AVEVA announced an agreement to integrate edge, AI and cloud digital solutions to help operators optimize oil and gas production. ...»

OPEC and major oil companies each see a different path to energy transition

Two of Big Oil’s biggest players dropped their long-term energy outlooks this week: French energy company TotalEnergies and the Organization of the Petroleum Exporting Countries. They offer quite different visions of the world 25 years from now. ...»

Record operating costs are slowing the U.S. shale drilling revival

America’s oil producers are boosting output at a slower place as record costs hammer the shale patch, according to a survey of industry executives. ...»

Enbridge to start oil sands pipeline after years of delays

A long-delayed Enbridge Inc. pipeline extending from Canada’s oil sands to the U.S. Midwest will enter service Friday after years of opposition from environmentalists and indigenous groups. ...»

Aggreko registers record 2 GW of live global gas power capacity, and growth in flare and stranded gas to power projects

A key driver for achieving this milestone is increased demand for flare gas to power projects, as well as Aggreko’s innovative approach to monetizing stranded gas assets. ...»

Tracerco secures subsea inspection for life extension project of over 18 risers in the Gulf of Mexico

Tracerco has been commissioned to provide asset integrity data for an operator in the Gulf of Mexico seeking to extend the life of over 18 of their risers. ...»

Equinor and Rosneft to cooperate on carbon management

Drawing on this longstanding cooperation and aiming to support the goals of the Paris Agreement, Equinor and Rosneft will join forces to develop low carbon solutions and reduce the carbon footprint from joint projects. ...»

Wayne Christian re-elected Chairman of the Railroad Commission of Texas

At an open meeting of the Railroad Commission of Texas, Commissioner Wayne Christian was unanimously elected Chairman for a second time. ...»

OPEC projects oil demand growth to 2035 in spite of COP26 goals

OPEC sees oil demand continuing to grow to the middle of next decade, even as world leaders prepare for another attempt to avert catastrophic climate change. ...»

Energy supply chain crisis sends European prices to new highs

European energy markets from natural gas to carbon permits jumped to records, signaling the supply shortage will get worse just as the winter season starts. ...»

Brent crude roars past $80 as global energy crisis spreads

Oil’s latest upswing has come with a flurry of bullish price predictions from banks and traders, forecasts for surging demand this winter, and speculation that the industry isn’t investing enough to maintain supplies. ...»

Sercel awarded major seismic equipment contract in North Africa

CGG announced the award to Sercel of a major contract to supply land seismic equipment for a 3D mega-crew survey in North Africa. ...»

Tech-enabled asset management holds key for oil and gas upstream industry, says GlobalData

The upstream oil and gas industry is investing heavily in search for new reserves or resource plays, new extraction technologies, and advancements in operational automation. ...»

Inmarsat signs fleet LTE offshore agreement with Solstad Offshore

Inmarsat has secured a contract for its new Fleet LTE service, covering the connectivity needs of several Solstad Offshore North Sea vessels. ...»

Investors place $34 billion of orders for ADNOC Drilling IPO

Investors placed more than $34 billion of orders for Abu Dhabi-based ADNOC Drilling Company PJSC’s $1.1 billion initial public offering, further underscoring the global clamor for equity deals. ...»

PennEast gas pipeline halted in latest blow to U.S. energy infrastructure

A $1 billion project to haul natural gas from Pennsylvania to New Jersey has become the latest casualty of opposition to pipelines across the U.S. ...»

Oil prices extend gains, WTI passes $75 on global supply crunch

Oil rallied at the start of the week’s trading on signs that the crude market is tightening amid a global energy crunch. ...»

Turkey’s Black Sea gas find to raise output to 25% of EU capacity

A recently discovered natural gas field in the Black Sea is set to provide nearly a third of Turkey’s domestic needs when it reaches peak production capacity by 2027, Energy Minister Fatih Donmez said, unveiling details of his ambitious timeline to bring last year’s find on stream. ...»

Democrats want a carbon tax to buy support for infrastructure bill

Senate Democrats are developing a carbon-tax proposal that could potentially be used to offset some of the costs of a sweeping social-spending bill as well as direct cash payments to households, according to a key lawmaker. ...»

Frac-related earthquakes spur crackdown from Texas regulator

After six earthquakes rattled the Permian basin over the past 19 months, the Texas oil regulator is asking drillers to cut back on the amount of wastewater they’re pumping underground. ...»

Fossil fuel extraction limits coming, says U.S. Interior Secretary

Interior Secretary Deb Haaland suggested a sharply limited role for fossil fuel extraction on U.S. federal lands and waters in her most expansive comments yet on the administration’s overhaul of oil and gas leasing. ...»

Biden nearing methane crackdown targeting oil and gas producers

The free ride for methane, a climate-warming gas 84 times stronger than carbon dioxide, is nearing an end in Washington. ...»

Oil prices continue to rise near 2018 highs on tightening crude markets

Oil held gains near the highest since 2018 amid a global energy crunch that’s set to increase demand for crude, while stockpiles are falling from the U.S. to China. ...»

Thirty million barrels of Gulf oil lost to Ida, and counting

Almost four weeks after Hurricane Ida hit Louisiana, Gulf of Mexico oil producers are far from calling it over. ...»

Noia concludes its 2021 Oil and Gas Conference

The Noia Oil and Gas Conference 2021 concluded after two highly successful days discussing the recent challenges faced but with a keen focus on creating a successful future for the Newfoundland and Labrador offshore oil and gas industry. ...»

UK energy regulator creates £1 million prize fund to decarbonize offshore oil and gas

The competition, managed by the Oil and Gas Authority, is designed to advance the widespread electrification of offshore installations on the UK Continental Shelf, which are powered by gas or diesel. ...»

Technip Energies, partners deliver first modules from China for Arctic LNG 2 mega-project

The Arctic LNG 2 is located in Gydan, Northern Russia and is one of the world largest LNG projects under construction today with a total capacity of 3 x 6.6 million tons per annum. ...»

AVEVA says 85% of industrial companies seek to meet green goals via digital transformation

AVEVA, says 85% of industrial businesses plan to increase their investment in digital transformation over the next three years in order to tackle climate change, embrace automation and unlock the performance benefits of advanced technologies. ...»

Russia can’t solve Europe’s gas crunch as winter approaches

Europe’s worst energy crisis in decades could drag deep into the cold months as Russia is unlikely to boost shipments until at least November. ...»

ChampionX wins five-year contract with Vår Energi

ChampionX will deliver its range of chemical management services to Vår Energi, which encompasses the deployment of its asset integrity, phase separation, flow assurance and enhanced oil recovery chemical technologies. ...»

Syncrude Canada force majeure impacts North American crude flow

Syncrude Canada Ltd., a light crude producer majority-owned by Suncor Energy Inc., cut September supplies due to a mechanical disruption at its oil sands site, according to a person familiar with the situation. ...»

Citigroup sees gas at $100/MMBtu, if winter is cold enough

Citigroup Inc. more than doubled its Asian and European natural gas forecasts for next quarter and said prices could surge to as high as $100 per million British thermal units in the event of a particularly cold winter. ...»

Gulf Energy Information/World Oil’s retired Chairman and President Robert W. Scott has passed away

Gulf Energy Information (GEI) and its World Oil subsidiary regret to report to our global subscribers/readers that our retired Chairman and President, Robert W. (Bob) Scott passed away on Wednesday morning in Houston at age 93. ...»

GEI/World Oil’s retired Chairman and President Robert W. Scott has passed away

Gulf Energy Information (GEI) and its World Oil subsidiary regret to report to our global subscribers/readers that our retired Chairman and President, Robert W. (Bob) Scott passed away on Wednesday morning in Houston at age 93. ...»

Goldman Sachs projects $90 oil if winter is colder than normal

Oil may surge to $90 a barrel if the approaching winter in the northern hemisphere proves colder than normal, said Jeff Currie, global head of commodities research at Goldman Sachs Group Inc. ...»

Noia’s Oil and Gas Conference 2021 begins with a focus on cleantech and local content

Themed Resilient and ReEnergized, the Noia Oil and Gas Conference 2021 began Tuesday at the St. John’s Convention Centre with a focus on the future, clean technology, and the benefits of local content practices for communities with resource development projects. ...»

Oil prices rise on falling U.S. crude inventories

Oil rallied after a U.S. industry report showed another big draw in crude inventories, pointing to a tightening market, and China’s central bank added liquidity to quell concern about a major developer’s debt woes. ...»

UK weighs options to weather natural gas crisis

The UK is considering all options to address the energy crisis, but people should prepare for longer-term high prices, Business Secretary Kwasi Kwarteng told a committee of Parliament. ...»

OPEC warns natural gas crisis may create oil market turbulence

As the global natural gas crunch hits suppliers and consumers alike, OPEC nations are warning of the knock-on impact for oil markets. ...»

4Subsea delivers decade of digital twin technology

4Subsea, a leading provider of digital technology and services to the energy and maritime sector, has successfully completed more than 300 measurement campaigns across the North Sea following the launch of its digital twin technology, significantly increasing uptime and mitigating risk during well operations. ...»

ConocoPhillips says Shell deal lowers emissions intensity

ConocoPhillips’s $9.5 billion deal to buy shale assets from Royal Dutch Shell Plc will boost the amount of carbon the company pumps into the atmosphere. Yet the company says the pact will actually allow it to reach one of its climate goals faster. ...»

IEA calls on Russia to be a “reliable supplier” and send more gas to Europe

The International Energy Agency called on Russia to supply more natural gas to Europe, saying the energy crunch was an opportunity for the country to show it’s a “reliable supplier.” ...»

Lagoon Water Midstream enters Permian with Double Drop Resources acquisition

Lagoon Water Midstream has closed on the acquisition of Double Drop Resources, a water management company located in the Permian basin. ...»

EIA reports Cushing, OK crude inventories down 40% from start of 2021

The U.S. Energy Information Administration reported crude oil inventories in Cushing, Oklahoma, totaled 32.9 million barrels (excluding pipeline fill and stocks in transit by water and rail) in the week ending September 10, which is a 42% decrease since the beginning of the year. ...»

Russia projects oil output near post-Soviet highs in 2022

Russia expects oil output next year to be back near its post-Soviet high as OPEC+ eases production curbs. ...»

Norwell Engineering secures $30 million contract for deepwater India development

Aberdeen-based global well engineering and drilling project management firm Norwell Engineering has won a lucrative contract worth more than $30 million with ONGC, India’s national oil company. ...»

Aquaterra Energy, Lhyfe and Borr Drilling join on offshore green hydrogen jack-up rig production concept

Aquaterra Energy has signed a partnership with renewable hydrogen producer and supplier Lhyfe and offshore drilling contractor Borr Drilling to develop an innovative concept for offshore green hydrogen production in the North Sea. ...»

Key Energy Services exits fluid management business with asset sale

Key Energy Services, Inc. announced the sale of substantially all of its Texas and New Mexico fluid management and saltwater disposal well assets for cash and the assumption by the buyer of the related asset retirement obligations. ...»

Oil gains on rebounding equities, Ida damage recovery timeline

Oil rose after a two-day decline with a selloff in global equities easing and some crude output still shut three weeks after Hurricane Ida hit the U.S. ...»

Shell shows it favors investor returns over renewables deals

Royal Dutch Shell Plc is proving it’s taking a different approach to the energy transition. ...»

Gastech 2021: OPEC chief says Euro gas crunch highlights need for more fossil fuel investment

The world’s biggest gas traders and producers are meeting in Dubai this week for the Gastech conference -- the first major in-person event for the industry since the onset of the coronavirus pandemic. ...»

OPEC ministers see a path to more oil output increases

OPEC and its allies can likely continue reviving oil production, two key Middle East members said as the group prepares to consider its next supply hike. ...»

Shell to sell Permian basin assets to ConocoPhillips for $9.5 billion

Shell Enterprises LLC, a subsidiary of Royal Dutch Shell plc, has reached an agreement for the sale of its Permian business to ConocoPhillips, a leading shales developer in the basin, for $9.5 billion in cash. ...»

Oil prices fall with broader market on China’s economic concerns

Oil resumed declines amid growing concerns over the health of China’s economy that have triggered massive losses in equities. ...»

Oil prices pare declines with key U.S. Gulf assets offline through 2021

Oil pared losses after Royal Dutch Shell Plc. said a critical U.S. Gulf of Mexico oil-production platform will be out of service for the rest of this year. ...»

Russia decides against increasing European gas flows, sending prices higher

European gas prices surged more than 10% as Russia is keeping its grip on the market, opting to cap additional flows to the continent. ...»

LYTT and Baker Hughes join to accelerate digital transformation in oil and gas

The collaboration agreement creates a new offering for customers by combining LYTT’s fiber optic data analytics and cloud-based software with Baker Hughes’ completions and well intervention hardware and service expertise. ...»

Shell reports structural damage to West Delta facilities from Hurricane Ida

The West Delta-143 facilities serve as the transfer station for production from Shell’s assets in the Mars corridor in the Gulf of Mexico to onshore crude and natural gas terminals. ...»

Equinor ramps up Norwegian exports to help meet European gas demand

Equinor and its partners have received permission to increase gas exports from two fields on the Norwegian continental shelf to supply the tight European market. ...»

Europe isn’t buying LNG despite record gas demand – here’s why.

A record rally in natural gas prices in Europe doesn’t mean it’s become lucrative to send every available molecule to the region. ...»

Europe faces a winter energy crisis years in the making

Europe is bracing for a tough winter as an energy crisis that’s been years in the making leaves the continent relying on the vagaries of the weather. ...»

UK minister says ‘no immediate concern’ on gas supplies

There’s “no immediate concern” about fuel supplies running short for consumers in the UK, Conservative MP Alok Sharma said Sunday. ...»

Canada’s PM vote will influence energy, financial sectors

With Canadians set to vote Monday in a highly competitive election, the outlook for the two largest sectors in country’s stock index hangs in the balance. ...»

Energy Workforce and Technology Council presents individual service awards at annual meeting

The Council recognized members for exceptional leadership and accomplishments on behalf of the energy services and technology sector during its 2021 Annual Meeting, held in Santa Ana Pueblo, NM. ...»

Energy Workforce and Technology Council releases sector inclusion and diversity findings

The Energy Workforce and Technology Council presented the energy services and technology sector’s efforts to advance inclusion and diversity at its Annual Meeting in Santa Ana Pueblo, NM. ...»

Oil set for fourth weekly gain with high energy prices in focus

Oil headed for a fourth weekly gain supported by signs of a tighter market and a wider rally in energy prices. ...»

SBM Offshore completes US$1.6 billion financing of FPSO Sepetiba

FPSO Sepetiba will be deployed at the Mero field in the Santos Basin offshore Brazil, 180 kilometers offshore Rio de Janeiro. ...»

Energy Workforce and Technology Council elects Board of Directors

The Energy Workforce and Technology Council elected new officers and industry leaders during its Annual Meeting, held in Santa Ana Pueblo, NM. ...»

Chevron’s Mike Wirth sees higher energy prices, supply crunches ahead

The world is facing high energy prices for the foreseeable future as oil and natural gas producers resist the urge to drill again, according to Chevron Corp.’s top executive. ...»

Exxon’s Gulf Coast carbon hub wins key industry support

An ambitious project aimed at capturing millions of tons of carbon emissions along the U.S. Gulf Coast in Texas garnered the support of some of the world’s biggest refiners and chemical manufacturers. ...»

Democrats to investigate oil industry over “climate disinformation”

House Democrats are investigating the role major oil companies and their trade groups are alleged to have played in misleading the public on the role of fossil fuels in causing global warming. ...»

Energean selects Halliburton for offshore Israel drilling campaign

Halliburton will collaborate with Energean to economically and safely deliver exploration, appraisal, and development wells offshore Israel. ...»

Petrofac and CO2 Capsol collaborate on carbon capture initiatives

Petrofac has signed an agreement with carbon capture technology company, CO2 Capsol, which enables collaboration on carbon capture projects. ...»

SBM Offshore completes US$1.6 billion financing of FPSO Sepetiba (1)

FPSO Sepetiba will be deployed at the Mero field in the Santos Basin offshore Brazil, 180 kilometers offshore Rio de Janeiro. ...»

New study outlines opportunities for UK companies in growth of US offshore wind

The study states that a lack of maturity in the US offshore wind supply chain currently translates to the need for a rapid expansion in products and services required to deliver projects on time and on budget. ...»

Oilfield Helping Hands launches new Haynesville chapter

Oilfield Helping Hands, a non-profit organization helping oilfield families in financial crisis due to no fault of their own, has opened a Haynesville Chapter, to include East Texas and Northwest Louisiana. ...»

Oil prices climb as U.S. crude, gasoline inventories tighten

Oil gained after a U.S. industry report showed another decline in inventories of crude and gasoline, signaling a tightening market. ...»

European gas price rally continues on U.S. LNG export, UK power issues

Natural gas prices in Europe continued their record-breaking run as uncertainties about supply security this winter worsen. Power prices also surged to a new high amid after a disruption on a power link with France. ...»

China’s move to lower oil prices has market wary of more to come

China’s first auction of oil from its strategic reserves looks relatively paltry, but the possibility of further releases is still likely to exert a powerful influence on global crude prices. ...»

Texas oil regulator works to secure natural gas supply for potential weather emergencies

Railroad Commission of Texas commissioners approved publishing for public comment proposed rules for critical designation of natural gas infrastructure during energy emergencies. ...»

Chevron’s CEO expects clean energy projects to be as profitable as oil

Chevron Corp. expects its $10 billion of investment on low carbon technologies through 2028 to offer double digit returns that are competitive with its main oil and gas business, Chief Executive Officer Mike Wirth said. ...»

Russian oil output climbs in line with OPEC quota deal

Russia’s crude oil and condensate output jumped in the first weeks of September as some of the nation’s key producers ramped up in line with the OPEC+ deal and Gazprom PJSC recovered from a fire at a facility in West Siberia. ...»

Iraq cuts U.S. oil prices sharply, bucking Saudi’s pricing trend

Iraq cut the price of its banner crude for U.S. customers sharply, a bold deviation from what Saudi Arabia chose to do with its own barrels just a few days ago. ...»

Norway elects pro-oil, Labor-led coalition in advance of COP26 climate talks

Norway’s opposition Labor Party is on course to oust the Conservative-led government after two consecutive terms in an election dominated by disputes over the Nordic economy’s dependence on fossil fuel. ...»

European banks termed ‘hypocrites’ for doing business with fossil fuels

Barclays Plc and Deutsche Bank AG are among 17 banks accused by climate law activists of “hypocrisy” over work related to a controversial North Sea oil field. ...»

Extra OPEC oil production canceled out by hurricane Ida outages

The world will have to wait until October for additional oil supplies as output losses from Hurricane Ida wipe out increases from OPEC+, the International Energy Agency said. ...»

Joe Manchin holds America’s energy independence, and economic future, in his hands

West Virginia Senator Joe Manchin stands alone among his fellow Democrats, recognizing the long-term economic damage Biden's $3.5T liberal wish list would inflict on America’s ability to meet its own energy needs, and compete in the global economic arena. ...»

Angola’s Sonangol posts $3B loss in ‘abnormal’ 2020

Angola, which relies on oil for more than 90% of its exports, has been struggling to recover from the 2014-2016 collapse in prices. It has also not been able to boost investments, needed to increase production from its aging fields. ...»

Greens decry oil and gas tax breaks in Democrats’ new proposal

“This bill is at fundamentally at odds with the president’s commitment to repeal fossil fuel subsidies,” said Erich Pica, president of Friends of the Earth. “This is a failure of climate leadership that will not soon be forgotten.” ...»

OPEC sees global oil supply disruptions boosting demand for its crude

The latest data from the group indicate that the world will continue to face an oil supply deficit in the coming months even as its members revive idle production. ...»

Editorial: Joe Manchin holds America’s energy independence, and economic future, in his hands

West Virginia Senator Joe Manchin stands alone among his fellow Democrats, recognizing the long-term economic damage Biden's $3.5T liberal wish list would inflict on America’s ability to meet its own energy needs, and compete in the global economic arena. ...»

ADNOC to raise $750MM from drilling unit IPO

Abu Dhabi National Oil Co. is seeking to raise about $750 million from its drilling unit’s IPO, in what would rank among one of the largest share sales in the United Arab Emirates. ...»

OPEC sees oil supply disruptions boosting demand for its crude

The latest data from the group indicate that the world will continue to face an oil supply deficit in the coming months even as its members revive idle production. ...»

Biden’s budget plan spurs lobbying frenzy, with all eyes on Joe Manchin

West Virginia Senator Joe Manchin (D), who commands a linchpin vote in the Senate, is at the center of a lobbying crossfire over President Joe Biden’s $3.5 trillion economic package, with the energy industry and environmental advocates both vying for his support. ...»

Oil prices climb as U.S. supplies restart following historic Ida impact

Oil climbed above $70 a barrel in New York after three weeks of gains as investors tracked the slow restoration of supplies in the Gulf of Mexico and the outlook for demand and inventories over the fourth quarter. ...»

Shell preps key Gulf of Mexico pipeline for restart after hurricane Ida

Royal Dutch Shell is gearing up to restart oil pipelines off the U.S. Gulf Coast, potentially moving the region’s top driller one step closer to restoring some production shut by Hurricane Ida. ...»

Phillips 66 might idle hurricane-damaged Louisiana refinery

Phillips 66 may idle a New Orleans-area refinery that suffered so much damage during Hurricane Ida that repairs may be too costly, according to people familiar with the operation. ...»

Phillips 66 might not rebuild hurricane-damaged Louisiana refinery

Phillips 66 may idle a New Orleans-area refinery that suffered so much damage during Hurricane Ida that repairs may be too costly, according to people familiar with the operation. ...»

California wants air pollution rules suspended to burn more natural gas

California is asking the federal government to declare an “electric reliability emergency” so the Golden State can lean more heavily on fossil fuels to avoid blackouts. ...»

Chevron pursues green joint ventures as shareholder climate focus sharpens

Amid rising shareholder pressure on climate issues, Chevron is proactively forging climate-friendly joint ventures with an array of startups as well as corporate giants that include Caterpillar Inc., and Alphabet Inc.’s Google. ...»

Power struggle threatens Libya oil output once again

Libya’s oil production is in danger of slumping again, as a political power struggle threatens to end a period of relative stability. ...»

ExxonMobil’s offshore Guyana win streak continues with Pinktail discovery

“These discoveries are part of an extensive well program in the Stabroek Block utilizing six drillships to test play extensions and new concepts, evaluate existing discoveries and complete development wells for the Liza Phase 2 and Payara projects,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil. ...»

Biden’s clean energy future won’t include natural gas

Natural gas won’t count as clean energy under a House Democratic plan that would eventually rid the electric grid of carbon and is part of the $3.5 trillion tax-and-spending package moving through Congress. ...»

Nigeria struggles to find buyers for October oil exports

Nigeria has sent a signal that the recovery in global oil demand still has some way to go, with volumes for next month’s loading struggling to find a home, even among its main customers. ...»

Mexico’s president earmarks $32B to help Pemex boost oil production

Mexico President Andres Manuel Lopez Obrador is raising Pemex’s spending plan for next year to about $32 billion in a bid to boost flagging oil production. ...»

China releases oil from strategic reserves as energy costs surge

China made an unprecedented intervention in the global oil market, releasing crude from its strategic reserve for the first time with the explicit aim of lowering prices. ...»

Aramco may open $110B gas project to foreign investors

Saudi Aramco is considering a bold move to open up one of the world’s largest unconventional gas fields to foreign investors, as it looks to fund a $110 billion project to help it diversify from oil sales, people familiar with the matter said. ...»

Pemex reduces 2022 oil output forecast after platform troubles

Mexico cut its forecast for oil production at Pemex next year and reduced its tax burden after a string of accidents at offshore platforms signaled the highly indebted state company is struggling. ...»

Canada’s offshore oil outlook brightens on Terra Nova, West White Rose developments

“The commitments shown by Suncor Energy, Cenovus Energy, and Murphy Oil are extremely positive for the Newfoundland and Labrador offshore oil and gas industry," Noia CEO Charlene Johnson said in a statement. ...»

World’s largest economies are surpassing pre-Covid oil demand

Higher consumption across major economies is buoying oil prices that have rallied around 40% this year. Against this backdrop, the OPEC+ alliance decided to keep restoring crude supply earlier this month, citing tighter balances into year-end. ...»

India’s ONGC considering Woodside stake in offshore Senegal oil field

India’s Oil and Natural Gas Corp. is exploring a purchase of a significant minority stake in the $4 billion-plus Sangomar oil project off the coast of Senegal from Woodside Petroleum Ltd., according to people familiar with the matter. ...»

Russia's Gazprom seeks to start Nord Stream 2 gas flows on October 1

Gazprom PJSC is planning to start flowing natural gas through one of the world’s most controversial pipelines next month, according to people with direct knowledge of the company’s plan. ...»

EIA reports sharp decline in drilled but uncompleted shale well count

The decline in DUCs in most major U.S. onshore oil-producing regions, especially in the Permian region, reflects more well completions and, at the same time, less new well drilling activity. ...»

Aker Solutions, Siemens Energy and Doosan Babcock join on CCUS Projects in the UK

Aker Solutions, Siemens Energy and Doosan Babcock have formed a consortium which will see the three companies draw upon more than 450 years of combined experience to develop technology and solutions for the growing UK carbon capture, utilization and storage market. ...»

Aramco, AVEVA to partner on key sustainability goals via digitalization

Focused on driving sustainability in the region through digital transformation, the partnership will help enable AVEVA to establish their largest digital hub, with an RandD capability, in the Middle East, headquartered in Saudi Arabia. ...»

ADNOC forms strategic alliance with rig builder Helmerich and Payne

ADNOC Drilling will acquire eight FlexRig land rigs from HandP for $86.5 million, after which HandP will make a $100 million cornerstone investment into ADNOC Drilling’s recently announced initial public offering. ...»

Schlumberger New Energy links up with EnerVenue on metal-hydrogen energy storage solutions

Schlumberger New Energy announced an investment and collaboration agreement to deploy EnerVenue’s uniquely differentiated nickel-hydrogen battery technology, which is a key enabler of stationary energy storage solutions. ...»

Exxon pursues methane integrity grading for some of its Permian shale gas

Exxon Mobil Corp. will offer some of its Permian Basin shale gas for certification by a nonprofit that assesses methane leaks, a move that comes as the oil industry faces unprecedented pressure to clamp down on emissions. ...»

Neptune Energy, Harbour Energy consider merger valued near $10 billion

Neptune Energy Group Ltd., the private equity-backed explorer, is considering options including a merger with Harbour Energy Plc that could create one of Europe’s largest independent oil and gas companies, people familiar with the matter said. ...»

Enbridge to expand U.S. oil export capacity with $3B Moda Midstream deal

Enbridge Inc., the Canadian pipeline giant, agreed to acquire Moda Midstream Operating LLC for $3 billion to add U.S. Gulf Coast oil export capacity. The deal will connect Enbridge with oil produced in the Permian and Eagle Ford shale basins. ...»

India’s energy firms seek Arctic LNG 2 financial stake to ensure gas supply

India’s top energy companies, Petronet LNG Ltd. and ONGC Videsh Ltd., are having discussions about buying a stake in Russia’s planned liquefied-gas project Arctic LNG 2 as their government seeks to secure supplies of the cleaner burning fuel. ...»

European natural gas futures hit new highs as Russian output dips

European natural gas futures surged to record highs on Monday as the amount of Russian gas flowing into Europe through a key entry point dipped, crimping supplies in an already tight market. ...»

Aquaterra Energy signs three-year Angola platform contract with supermajor

Aquaterra Energy has secured a multi-million-dollar agreement with a supermajor to deliver multiple Sea Swift platforms over a three-year period. The platforms will be destined for off the coast of the Cabinda Province, offshore Angola. ...»

UK’s Cairn Energy to tally $700MM payback on Indian tax settlement

Cairn Energy Plc shareholders can expect a payback of as much as $700 million once the UK oil producer settles a long-running tax dispute with India. ...»

Oil price slide continues as Saudis cut prices to win Asian orders

Oil extended losses after Saudi Arabia slashed crude prices for Asian buyers, raising the prospect of fierce competition among sellers as the resurgence of Covid-19 continues to cloud the demand outlook. ...»

Saudis lower Asian oil prices to win back buyers

Saudi Arabia cut oil prices for sales to Asia next month by more than twice the expected amount in a sign the world’s largest crude exporter wants to entice buyers to take more of its barrels. ...»

U.S. Coast Guard investigating miles-long oil spill after hurricane Ida

Federal authorities are responding to a 14-mile long oil spill in the Gulf of Mexico discovered in the aftermath of Hurricane Ida, according to the Louisiana Oil Spill Coordinator’s Office. ...»

Strategic Petroleum Reserve draws increase as Gulf oil remains offline

The U.S. is granting a second refiner in Louisiana access to the country’s emergency crude stockpiles as most oil-producing platforms in the Gulf of Mexico remain offline after Hurricane Ida. ...»

Talos pushes back against Pemex over Zama oilfield takeover

Talos Energy Inc., the U.S. offshore explorer behind Mexico’s largest oil discovery in years, is taking the first step toward an international dispute after control of the field was given to state producer Pemex. ...»

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Texas drilling permits and completions show mixed performance in August

According to figures released September 3rd by the Railroad Commission of Texas, the state’s drilling permits issued fell to their lowest level since May, while new drills hit their highest total since March. ...»

Democrats close in on drilling, mining bans for Biden’s $3.5T infrastructure scheme

Legislation to block oil drilling in most U.S. waters and Alaska’s Arctic National Wildlife Refuge edged closer to passage Thursday, as the House Natural Resources Committee rejected more than a dozen changes sought by Republicans. ...»

Exxon draws from U.S. Strategic Petroleum Reserve for Louisiana refinery

The U.S. Department of Energy has authorized Exxon Mobil Corp. to receive crude from the Strategic Petroleum Reserve to kickstart the production of fuels while most oil production in the Gulf of Mexico remains shut. ...»

Noble provides clarity on Globetrotter II drillship, during and after hurricane Ida

World Oil reached out to Noble Corporation, owner of the drillship, for further comment. This afternoon (Thursday, Sept. 2), we received further explanation from Noble’s Vice President, Investor Relations, and Treasurer, Craig Muirhead. ...»

U.S. crude benchmark holds above $70 on Ida recovery projections

Most crude processors that were hit by Hurricane Ida escaped major damage and are expected to be back online within three weeks, according to IHS Markit. ...»

Abu Dhabi’s Taqa looks to sell UK, Dutch oil and gas assets

Taqa wants to divest itself of at least 17 fields plus stakes in the Sullom Voe shipping terminal, and the Brent and SAGE pipelines in the UK In a separate sales process, it is offering 32 Dutch oil and gas licenses, of which five are directly operated by the company. ...»

Mexico’s new finance minister supports Pemex, but won’t modify laws

As the government pushes for a constitutional reform to electricity laws, Finance Minister Ramirez de la O said now “would be a little late” to change overall energy laws that last decade gave private companies access to the Mexican market. ...»

OPEC stalwarts boosted oil output in August, while other members fell below quota

The Organization of Petroleum Exporting Countries lifted output by 290,000 barrels a day, slightly more than stipulated by its road map for restoring output, according to a survey. Saudi Arabia and Iraq were the main drivers of the increase. ...»

ADNOC may sell oil and gas assets to focus on utilities

Abu Dhabi National Energy Co. may sell its oil and gas assets after a review, as the state-owned utility focuses on growing its utilities business. ...»

Westwood projects slow recovery for land rigs after 2020 downturn

While a recovery is anticipated year-on-year through 2025, it is expected to be gradual and characterized by operator caution as they navigate several important considerations - pace of global demand recovery, the energy transition, and geopolitics. ...»

Shale natural gas production in the Appalachian Basin sets records in first half of 2021

Dry natural gas production from shale formations in the Appalachian Basin that spans Pennsylvania, West Virginia, and Ohio has been growing since 2008, and monthly production has recently set new record highs. ...»

Oil prices close higher on OPEC decision devoid of drama

U.S. crude futures closed modestly higher after OPEC+’s relatively harmonious decision to gradually raise supply and a bullish U.S. oil inventory report. ...»

ScottishPower Renewables backs Proserv offshore wind subsea cable solution

Global controls technology company Proserv Controls has received industrial sponsorship for its disruptive subsea cable condition monitoring system for the offshore wind segment, ECG, or Electro Cable Guard, from ScottishPower Renewables. ...»

DNV says electrification alone won’t reach Paris Agreement climate targets

A new forecast of the energy transition from DNV has warned that even if all electricity was ‘green’ from this day forward, the world will still fall a long way short of achieving the 2050 net zero emissions ambitions of the COP21 Paris Agreement. ...»

Greenpeace sues Scotland over new BP offshore drilling permit

Greenpeace asked judges in Scotland’s Court of Session to overturn the government’s decision to grant BP a permit to drill for 30 million barrels of oil in the North Sea. ...»