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Saudi Oil Price Hike Throws Asian Lifeline to U.S. Shale
Saudi Arabia's decision to jack up the price of its July exports to Asia may have opened the door for U.S. crude oil producers to boost sales to the region that consumes more oil than anywhere else in the world.State-controlled producer Saudi Aramco hoisted its official selling prices (OSPs) to all regions for July-loading cargoes…
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Shell Restarts Operations in Vaca Muerta Block
Oil company Royal Dutch Shell Plc said on Tuesday it had resumed activities at its Bajada de Añelo block in Argentina's Vaca Muerta area after seismic activity in the region led to a halt late last week."Shell Argentina resumed its activities on Pad 22 of the Bajada de Añelo block, after determining that the conditions for a safe and sustainable re
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Shale Pioneer Chesapeake Energy Files for Bankruptcy
Chesapeake Energy Corp filed for Chapter 11 on Sunday, becoming the largest U.S. oil and gas producer to seek bankruptcy protection in recent years as it bowed to heavy debts and the impact of the coronavirus outbreak on energy markets.The filing marks an end of an era for the Oklahoma City-based shale pioneer…
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Rolling the Dice in Chaos: The Prospects of Investment in the Gas Industry
As stated in the Declaration of Malabo at the 5th Summit of Heads of State and Government of the GECF Member Countries, in order to sustain the security of demand and supply of natural gas, it is necessary to ensure sufficient investments through the entire gas value chain among all gas market stakeholders [1].Since the start of 2020…
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US Oil Industry Group Pledges to Fight Possible Biden Fracking Limits
If U.S. President-elect Joe Biden tries to restrict development of oil and gas drilling on federal lands, the American Petroleum Institute (API) will use "every tool at its disposal" including legal action, chief executive Mike Sommers said in an interview with Reuters on Monday.Biden…
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China to Boost Energy Reserve Capacity, Support Unconventional Gas Exploration
China said on Friday it will bolster the capacity of the country's energy reserves and offer lower gas and electricity charges to key industries…
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US Grants Royalty Relief to Hard-hit Drillers
The Trump administration has granted royalty relief to several drilling companies producing oil and gas on federal lands in recent weeks…
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Country-by-Country Look at Dropping Fuel Demand
It's hardly news that the COVID-19 pandemic has sent most every market into tumult, most notably the oil and gas market as…
Latest news
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U.S. Oil Firms' Quarterly Reports to Show Depths of Slump
Investors are in for more bad news on the energy front in the coming weeks as a host of the sector's biggest companies report…
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Trump Calls for Plan to Give Money to U.S. O&G Industry
U.S. President Donald Trump called on the federal government to come up with a way to pay out the U.S. oil and gas industry on Tuesday…
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Oil Price Crash, What Next?
A historic rout in oil markets sent U.S. crude prices plummeting to as much as minus $40 a barrel as traders rushed to get…
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Enterprise Offers Crude Shipments From Gulf Coast to Cushing
Enterprise Products Partners LP said it would offer spot shipments of crude on an existing pipeline from the U.S. Gulf coast to Cushing…
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Oil Rises After OPEC+ Agrees Record Output Cut
Oil prices rose on Monday after major producers finally agreed their biggest-ever output cut, but gains were capped amid…
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OPEC+ Oil Pact Hinges on Mexico Joining
Saudi Arabia's energy minister said on Friday that a final OPEC+ oil supply pact to reduce 10 million barrels per day (bpd)…
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European Refiners Leave Oil Cargoes On Water
A growing number of oil tankers across Europe have been unable to unload their cargo over the past month as refining demand crashes…
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Exxon Cuts Spending by $10B
Exxon Mobil Corp on Tuesday throttled back a multi-year investment spree in shale, LNG and deep water oil production and…
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Oil Storage at Sea Approaching Record Levels
Oil traders are storing as much as 80 million barrels of oil on tankers at sea, with further ships being sought as land storage…
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BP Cuts Spending by Quarter, Lowers Oil production
BP on Wednesday cut its 2020 spending plans by 25% and will reduce output from its U.S. shale oil and gas business in the…
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OPEC+ Debates Biggest Ever Oil Output Cut as Virus Destroys Demand
OPEC and allies are working on a deal for an unprecedented production cut equivalent to around 10% of global supply, an OPEC source said after U.S.
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Update: Brent Oil Rises above $32 on Hopes of Output Deal
Benchmark Brent crude oil futures rose as high as $33.05 a barrel on Friday on rising hopes of a new global deal to cut global…
Exploration
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Virtual Conference to Focus on Transatlantic Marine Renewables
Marine industry experts from Portugal and Canada are staging a special Blue Economy conference to spark transatlantic business growth.
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Coronavirus, Consolidation Taking Toll On Energy Jobs
Oil and gas companies worldwide are taking an axe to their employment rolls, shedding workers to survive what is expected…
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Exxon to Cut 14,000 Jobs as Pandemic Hits Oil Demand
ExxonMobil Corp said on Thursday it could cut its global workforce by about 15%, including deep white-collar staff reductions in the United States…
Drilling
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VIDEO: SkillGrader Takes Officer, Crew Skills Assessment to the Next Level
Marine Learning Systems introduces SkillGrader, a mobile application designed to enable vessel operators and training institutions…
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Tech Files: Offshore Power Products
Insights on innovative power products upgrades that could be used to keep offshore operations moving along effectively, efficiently.Maersk…
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Digitalization: Trust - The Keystone for Digital Transformation
The slowdown of the world economy and plummeting energy consumption have eclipsed most other industry news. Oil exporting…
Production
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Fortescue Assessing Green Ammonia Plant in Australia's Tasmania
Fortescue Metals Group said on Tuesday it was assessing prospects to build an ammonia plant in the southern island state of Tasmania…
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Exxon Committed to Singapore Refinery Expansion
Exxon Mobil Corp said on Thursday it remained committed to expanding its refining-petrochemical complex in Singapore amid…
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Shell to Slash Jobs and Capacity at Major Singapore Refinery
Royal Dutch Shell will halve crude processing capacity and cut jobs at its Pulau Bukom oil refinery in Singapore as part…
