The oil and gas industry should not be stigmatised in the climate debate and the sector has a role to play for an orderly energy transition, Reuters reported, quoting Opec leaders attending a climate event in Saudi Arabia.
The most effective way to bring Africa’s oil and gas resources to market is through a quick, efficient partnership approach – as the West African nation has proved.
The total number of active drilling rigs in the United States fell by 4 this week, after falling 7 last week, according to new data from Baker Hughes published Friday.
President Biden has once again reduced oil and gas leasing after focusing on ramping up production from exciting oilfields in the last couple of years.
Low distillate inventories in the United States have tightened the diesel market during the harvest season and ahead of the winter heating season. Diesel and heating oil supply could become even tighter and pricier if U.S. manufacturing activity returns to growth soon.
Last week, OPEC+ decided to keep current oil production cuts in effect until the end of the year.
Global gas demand is projected to rise in the next decade, thus influencing a 12.5% surge in production between 2023 and 2030.
The Permian has more oil in place to allow output growth for the next few years, Occidental’s president and CEO Vicki Hollub said this week, commenting on mounting concerns among analysts that well productivity in the top oil-producing U.S. shale basin is dropping off.
Oil prices stabilised on Tuesday, after falling to a three-week low in the previous session, on a stronger U.S. dollar, a darkening global macroeconomic outlook and mixed supply signals.
Altera Infrastructure has been awarded contracts for the redeployment of the FPSO Voyageur Spirit and the shuttle tanker Nordic Brasilia for the Baleine Phase 2 project, located offshore Ivory Coast.