EIA expects U.S. natural gas prices to stay high through the winter

In its October Short-Term Energy Outlook, the U.S. Energy Information Administration forecasts that natural gas spot prices at the U.S. benchmark Henry Hub will see the highest average winter price since 2007–2008. ...»

Russia decides not to increase natural gas shipments to Europe

Russia is keeping a tight grip on Europe’s energy market, opting against sending more natural gas to the continent even after President Vladimir Putin said he was prepared to boost supplies. ...»

Clariant boosts technology and sustainability capabilities in state-of-the-art oilfield services center in South Texas

Clariant’s Oil and Mining Services business has officially opened its new, state-of-the-art Eagle Ford Technology, Sales and Operations Center near San Antonio, TX. ...»

Asia seeks more U.S. oil exports as Brent prices climb

Asian demand for U.S. oil is rising as the energy crisis boosts prices for other crudes that are priced against the global Brent futures contract. ...»

Manchin opposes clean energy plan in Biden’s spending package

Senator Joe Manchin has told the White House and congressional leaders that he will not support including a key clean-power provision in the Democrats’ spending package, putting at risk a central element of the legislation designed to fight climate change, according to a person familiar with the matter. ...»

Venezuela secret police return six Citgo executives to prison

Venezuela intelligence police have transferred the six Citgo Petroleum Corp. executives who where under house arrest to its headquarters, lawyers for the men said. ...»

U.S. Coast Guard boards vessel suspected of damaging subsea pipeline

The U.S. Coast Guard boarded a container ship that dragged its anchor near to a Southern California subsea pipeline that was the source of an oil spill earlier this month. ...»

Oil price climb continues, logging eighth weekly gain

Oil rose higher on Monday following an eighth weekly gain, spurred on by the energy crunch as winter approaches. ...»

OPEC misses crude output targets, straining global oil supply

OPEC and its allies once again failed to pump enough oil to meet their output targets, exacerbating the supply deficit as the world recovers from the coronavirus pandemic. ...»

Occidental sells $750MM Ghana stakes as part of debt-reduction focus

Occidental Petroleum Corp. agreed to sell its stakes in two Ghanaian oil fields for $750 million, ending a two-year divestment effort aimed at cutting debt. ...»

Turkish Petroleum awards Schlumberger contract to tap its largest gas reserve

Turkish Petroleum has awarded Schlumberger a significant contract for the engineering, procurement, construction and installation (EPCI) of end-to-end production solutions for the Sakarya gas field, Turkey’s largest gas reserve. ...»

Israel says it can’t increase gas exports, prioritizing domestic demand

Israel said it’s unlikely to expand natural-gas exports even as countries across Europe clamor for more supply amid a severe energy crunch. ...»

Bolsonaro wants to privatize Brazil’s state-owned Petrobras

Brazilian President Jair Bolsonaro said Thursday that he wants to privatize Petrobras, the state-controlled oil company that is under political pressure to lower fuel prices. ...»

U.S. natural gas futures climb on winter inventory concerns

U.S. natural gas futures climbed after winter stockpiles of the furnace and power-plant fuel expanded less than expected, heightening concerns about adequate supplies going into the peak-demand season. ...»

EQT’s CEO calls for more American shale investment to end energy crisis

The largest U.S. natural gas driller is using the global energy crisis to renew his call for more investment in domestic infrastructure such as pipelines, which he says will enable increased exports and ease shortages. ...»

Oil firms are paying the price as UK electricity suppliers fail

As the number of failed British electricity suppliers continues to rise, two of the world’s largest oil and gas giants are feeling the ripple effect. ...»

South Sudan’s president fires head of state oil company

Bol Ring Mourwel, who was appointed head of Nile Petroleum Corp. in September 2020, was removed with immediate effect, according to a decree broadcast on state television on Thursday. ...»

Brent crude passes $85 as energy crisis stokes oil demand

Oil in London rose past $85 a barrel for the first time since 2018, the latest milestone in a global energy crunch that has seen prices soar. ...»

2021 World Oil Awards winners honored at live Houston gala

Honorees received awards in 18 categories, encompassing the full breadth of the upstream industry. Today’s innovations, many of which would have seemed far-fetched a generation ago, are enabling operators to find and produce hydrocarbons more safely, economically, and efficiently. ...»

2021 World Oil Awards winners honored at live gala

Honorees received awards in 18 categories, encompassing the full breadth of the upstream industry. Today’s innovations, many of which would have seemed far-fetched a generation ago, are enabling operators to find and produce hydrocarbons more safely, economically, and efficiently. ...»

California’s Monterey county loses bid to restart oil drilling ban

A coastal California county’s attempt to curb new oil and gas development suffered another blow when an appeals court upheld a ruling striking down a ban on new wells and hydraulic fracturing. ...»

Global energy demand triggers unusual decline at U.S. oil hub

Crude oil inventories at the biggest storage hub in the U.S. posted their steepest decline this week than in any October in five years as demand for exports and from refineries pull barrels to the Gulf Coast instead. ...»

Democrats seek stricter regulation of offshore oil and gas infrastructure

House Democrats are making the case for stricter regulation of thousands of abandoned wells, platforms and pipelines off the U.S. coasts following the biggest off-shore spill in California in nearly 30 years. ...»

OPEC credits its oversight with preventing oil price chaos

Oil’s stability relative to natural gas and coal underscore that OPEC+ is doing a good job balancing supply and demand, said the energy ministers of Saudi Arabia and Russia. ...»

Putin’s pledge for more supply can’t stop Europe’s gas price surge

European gas futures continued their march upwards on Thursday, even after Russia pledged to deliver as much supply as the continent needs. ...»

Oil prices rally as IEA sees gas shortages boosting crude demand

Oil in New York surged past $81 a barrel after the International Energy Agency became the latest to say natural gas shortages are boosting demand for crude. ...»

IEA says anti-gas climate policies didn’t cause Europe’s gas crisis

Government climate policies and the transition away from fossil fuels are not to be blamed for the energy crisis ravaging Europe and Asia, according to the International Energy Agency. ...»

Finalists announced for the 2021 WPC Excellence Awards

The objective of the WPC Excellence Awards is to distinguish companies, institutions or any public or private organization engaged in the oil and gas industry for promoting or operating with high excellence standards. ...»

Halliburton introduces iStar Intelligent Drilling and Logging Platform

Halliburton Company released the iStar Intelligent Drilling and Logging Platform, a comprehensive measurement platform comprising multiple services for greater control of drilling and logging operations. ...»

Biden’s net-zero climate policies drive a 23% hike in U.S. coal usage

Donald Trump vowed to revive the coal industry, but it’s President Joe Biden who’s driving a big comeback of the dirtiest fossil fuel. ...»

Putin ready to send more Russian gas to Europe, blames flawed policies for shortage

Russia is ready to deliver all of the natural gas that Europe needs, said President Vladimir Putin, blaming the continent’s current energy crisis on flawed policies rather than a lack of supply. ...»

Blackrock CEO says the world is on track to lose climate change fight

BlackRock Inc. Chief Executive Officer Larry Fink said emerging economies need about $1 trillion a year over the next three decades for the world to achieve carbon neutrality. ...»

Europe’s industrial sector cuts natural gas demand as prices soar

Europe’s industrial sector has started to cut demand for natural gas, as record prices have made the fuel prohibitive for many consumers. ...»

Russia becomes emerging-market highlight amid global energy chaos

Surging energy prices are kindling bullish bets on developing-nation exporters, with Russia emerging as traders’ favorite investment destination. ...»

Qatar critical of other nations’ vague net-zero pledges

Qatar, the world’s biggest exporter of liquefied natural gas, said it would be wrong to commit to eliminating planet-warming emissions without having a proper plan in place. ...»

Big swings in U.S. oil derivatives signal tightening supplies

Big swings in the price of oil derivatives signaled that U.S. crude supply is getting tighter, adding another dimension to the volatility that’s gripping energy markets. ...»

Energy crisis leads China to pump the brakes on energy transition

China’s widening power crisis, which has forced rationing across the country and threatens to derail economic growth, is prompting policy makers to rethink the pace of the nation’s energy transition. ...»

U.S. likely to ask OPEC for more oil, says Daniel Yergin

The U.S. is likely to ask OPEC member states to pump more crude to help ease a surge in energy prices, according to oil historian Daniel Yergin. ...»

Brunei Shell Petroleum Company and AccessESP successfully complete GoRigless ESP pilot project

The GoRigless ESP System is a proprietary through-tubing deployment and slickline-retrieval technology for AccessESP high-performance permanent magnet motors and industry-standard ESP pumps. ...»

Oil prices hold gains as energy shortages boost winter demand

Oil in New York held above $80 a barrel on expectations that a power crisis from Asia to Europe will continue to lift demand, prompting banks to boost their price forecasts. ...»

TotalEnergies and Qnergy work to reduce methane emissions on the Barnett field

TotalEnergies announces deployment of an innovative technology developed by Qnergy, to significantly reduce methane emissions related to its operations on the Barnett gas field in the United States. ...»

Australia wants a ‘pause button’ for its global climate change commitments

Australia should include “caveats” in any net-zero greenhouse-gas emissions pledge to allow it to suspend climate-change commitments should regional areas of the economy be negatively impacted, according to a senior government lawmaker. ...»

Chevron sets net zero 2050 carbon goals for its operations

Chevron Corp. committed to an “aspiration” of net zero emissions from its operations by 2050 as the company responds to rising investor and societal pressure to play a bigger role in a transition to a low-carbon future. ...»

Chesapeake Energy names new President and CEO

Chesapeake Energy Corporation announced that its Board of Directors has unanimously voted to appoint Domenic "Nick" Dell'Osso as President and Chief Executive Officer and a member of the company's Board of Directors, effective immediately. ...»

Apache eliminates routine gas flaring onshore U.S., completing ESG goal early

Apache Corporation has ended routine flaring in its U.S. onshore operations, achieving one of its 2021 ESG goals three months ahead of schedule. ...»

DOF Subsea and Ocean Floor Geophysics Inc. form strategic alliance for global AUV services

The partnership leverages the two businesses’ recent collaboration in the development of the OFG AUV non-contact integrated Cathodic Protection (iCP) inspection system, and enable the sharing of resources on several pipeline inspection and geohazard surveys. ...»

UK grants North Sea subsea carbon storage license in pursuit of COP26 goals

The UK Oil and Gas Authority  has awarded a carbon dioxide appraisal and storage license to Harbour Energy, boosting the drive to reach net zero greenhouse gas emissions by 2050. ...»

Halliburton And VoltaGrid enter multi-year contract with Aethon Energy for electric fracturing solution

Halliburton Company and VoltaGrid LLC have entered into a multi-year contract with Aethon Energy to deploy an advanced, all-electric fracturing solution in the Haynesville Shale. ...»

World’s largest LNG exporter unhappy with high natural gas prices

Qatar, the world’s biggest exporter of liquefied natural gas, said it’s “unhappy” prices are so high but is producing at maximum capacity. ...»

Oil above $80 spurs a Permian shale drilling revival

Oil prices around $80 a barrel are once again spurring a revival of shale drilling in America’s biggest oil field, where production is expected to return to pre-pandemic highs within weeks. ...»

WTI crude prices hit $81 on booming global oil demand

Crude topped $81 a barrel as the global power crunch boosts demand for oil ahead of winter. ...»

U.S. shale drillers fear losing European gas orders to Russia

U.S. shale drillers are increasingly worried that swelling Russian natural gas exports will slash their European market share. ...»

Major gas traders seek cash to cover margin calls

Major energy traders including Gunvor Group Ltd. and Mercuria Energy Group Ltd. have reduced the size of their trading positions and increased borrowing from lenders to cover large margin calls stemming from the unprecedented surge in European gas prices, according to people familiar with the matter. ...»

Norway’s Labor, center agree to form pro-oil minority coalition

Norway’s election-winning Labor Party agreed to form a minority government with another proponent of oil exploration, the agrarian and euro-skeptic Center Party. ...»

Biden’s quest to lower fuel prices clashes with his climate agenda

President Joe Biden is under intensifying pressure to keep a lid on rising gasoline and natural gas prices that threaten the economic recovery and Democrats’ political ambitions. ...»

Russia’s Gazprom mulls higher gas prices for Europe as energy crisis deepens

Gazprom PJSC increased its 2021 price guidance for natural gas exports, while signaling caution on volumes it could ship, as Europe’s energy crisis worsens. ...»

A Nord Stream 2 solution to Europe’s gas crisis could be months away

The controversial Nord Stream 2 pipeline has the potential to ease Europe’s gas crisis, and Russia says the project is on track. But obstacles remain -- and some of them could take months to clear. ...»

Equinor launches a multibillion-dollar blue hydrogen plan

Equinor ASA, the flagship producer of oil and gas giant Norway, is investing billions of dollars in blue hydrogen on a bet that it can make the fuel more cleanly than anyone else. ...»

Canadian oil exports to U.S. jump with new pipeline startup

Canadian oil shipments to the U.S. jumped to the highest volume since the start of the year thanks in part to the startup of a long-delayed Canadian pipeline. ...»

Oil industry needs $500 billion to avoid future supply crises, says Moody’s

Oil explorers need to raise drilling budgets by 54% to more than half a trillion dollars to forestall a significant supply deficit in the next few years, according to Moody’s Investors Service Inc. ...»

UK wins Greenpeace court challenge over North Sea drilling permit

The UK won a challenge over its decision to grant BP Plc a North Sea oil permit as judges pointed to the need for the country to have diverse sources of fuel as the current energy crisis drives prices for power ever higher. ...»

Diesel, heating oil stocks at 20-year lows as U.S. preps for winter

The U.S. may be heading into winter with the lowest stockpiles of heating oil to meet surging demand in more than two decades. ...»

Oil rallies after U.S. says it won’t tap strategic crude reserves

Oil rebounded after the U.S. Energy Department said it has no plans “at this time” to tap into the nation’s oil reserves to help quell rising fuel prices. ...»

Oil prices dive on increasing U.S. crude inventories

Oil declined by the most in two weeks in the wake of growing U.S. inventories and after Russia signaled it is ready to help ease a global energy crisis. ...»

Putin makes a conditional offer to ease Europe’s natural gas crisis

With winter fast approaching and a stunning energy price surge pummeling Europe, Russian President Vladimir Putin chose an opportune moment to use his country’s leverage as an oil and gas superpower. ...»

U.S. shale drillers show restraint as oil prices rally, adding to OPEC leverage

U.S. shale oil production will expand at a “modest rate” over the next 18 months even as prices touch multiyear highs, leaving OPEC in a powerful position as the world cries out for more barrels. ...»

Electric fracturing is catching on, but environmentalists are not impressed

Low-carbon hydraulic fracturing is gaining traction across the U.S. But since it still extracts the very oil and gas that fossil-fuel critics want the world to stop consuming altogether, not everyone’s convinced. ...»

Global energy consumption and emissions will climb through 2050, EIA projects

The U.S. Energy Information Administration projects that, absent significant changes in policy or technology, world energy consumption will grow by nearly 50% between 2020 and 2050. ...»

European natural gas prices soar 60% in two days as EU sounds alarm

Dutch and UK gas futures continue to hit fresh records along with rising power prices. Rocketing energy costs are stoking inflationary pressures and fueling concern that economic growth will slow, prompting a slump in European stocks. ...»

Saudis cut oil prices after OPEC+ restraint fuels rally

Saudi Arabia reduced oil prices for its main buyers, a day after OPEC+ sent crude futures surging by sticking to a plan for slow and steady supply increases. ...»

Xodus acquires Ocean Geo Solutions

Energy consultancy Xodus has continued its global expansion with the acquisition of Houston-based data interpretation consultancy Ocean Geo Solutions, adding capabilities in geophysical data processing, interpretation and reporting. ...»

Baker Hughes brings proven flare monitoring and management tech to upstream operations

Panametrics, a Baker Hughes business, has made its flare control and digital verification platform, flare.IQ, available to upstream operators for the first time. ...»

Oil prices reach seven-year high as OPEC keeps crude supply tight

Oil rose to a new seven-year high after OPEC+ chose to keep supplies fairly tight even as the world grapples with an energy crunch. ...»

European natural gas prices hit new records as supply concerns grow

European natural gas and power soared to fresh records amid worsening fears over supply. ...»

Today’s global energy crisis is just the first in the “clean power” era

The world is living through the first major energy crisis of the clean-power transition. It won’t be the last. ...»

Canada escalates Michigan pipeline battle with decades-old treaty

The Canadian government invoked oil and gas transit rights under a decades-old treaty with the U.S. to stop Michigan’s attempt to shut down an Enbridge Inc. pipeline under the Great Lakes. ...»

Saudi Aramco reports higher oil demand from natural gas crisis

Saudi Aramco said the natural-gas crisis was already boosting oil demand and reiterated plans to increase its production capacity. ...»

Oil prices jump as OPEC continues monthly crude supply hikes

OPEC+ agreed to maintain its schedule of gradual monthly oil-production increases, sending crude prices sharply higher. ...»

SPIE awarded multi-year engineering services contract for Jansz-Io Compression project

As the reservoir pressure of the Jansz-Io field declines after years of production, compression infrastructure is required to enhance the recoverability of the field. ...»

Climate change discussions on the rise as US oil and gas firms take action

Climate policy is a hot topic in the oil and gas industry, with the theme ‘Climate Change’ mentioned over 210,000 times in GloblaData’s Filing Analytics database of global oil and gas company filings in 2020 and 2021 combined – a 41% increase from the 2018-2019 period. ...»

Petrofac shares surge after $95 million UK bribery penalty

UK oilfield service provider Petrofac Ltd. must pay a $95 million penalty by a London judge for failing to prevent bribery between 2011 and 2017. ...»

European banks canceling fossil fuel companies over ESG liabilities

European banks are beginning to drop clients that pose a climate risk rather than face the possibility of higher capital requirements, according to the watchdog overseeing the development. ...»

OPEC policies will drive oil prices in the near term, says Vitol

The OPEC+ cartel’s production policy will be the main factor influencing oil prices over the coming months, according to Vitol Group. ...»

Qatar places $760MM LNG vessel order with China

Qatar ordered four new liquefied natural gas tankers worth more than 2.8 billion rials ($762 million) from a Chinese shipbuilder, as demand for the fuel booms. ...»

Oil prices may hit $100 this winter, spurring economic crisis, warns Bank of America

The global energy crunch could help propel oil prices above $100 a barrel for the first time since 2014 and spur a global economic crisis, according to Bank of America. ...»