The oil industry will need cumulative investments of $11.1 trillion in exploration and production by 2045 to keep pace with growing energy demand and ensure stable supply, OPEC Secretary General Haitham Al Ghais has told Emirati news agency …
(WO) – Western Energy Alliance won a significant victory in court last Friday as the U.S. District Court for the District of Columbia upheld the first offshore oil and gas lease sales of the Biden administration, held in …
Brent crude oil surged past $87 on Monday as Russia’s war on Ukraine increasingly focuses on attacks on energy installations, and as mediation in the Israel-Gaza conflict fails.
On Monday at 10:14 a.m. ET, Brent crude was trading …
(WO) – Shell New Energies US LLC has sold its 50% equity share in SouthCoast Wind Energy LLC to joint venture partner Ocean Winds North America LLC.
SouthCoast Wind is a 50-50 joint venture between Shell and Ocean
SLB, the biggest oilfield services firm in the world, is not planning to abandon its business in Russia, chief executive Olivier Le Peuch told the Financial Times in an interview published on Monday.
Pressure has mounted on companies, …
(Bloomberg) – The world is using more oil than ever and demand is outpacing expectations again this year, raising questions about how soon global consumption will peak.
The unabated thirst for crude contributed to an increasingly confident tone …
(WO) – During CERAWeek by S&P Global’s fourth day in Houston, Texas, Vice Chairman Dan Yergin sat down with Mike Dunleavy, Alaska’s Governor, to discuss the future of Alaskan energy.
Alaska’s “extraordinary” resource potential. During the discussion …
HOUSTON, March 21, 2024 /PRNewswire/ — Independence Contract Drilling, Inc. (the “Company” or “ICD”) (NYSE: ICD) previously disclosed that ICD’s Board of Directors (“Board”) has initiated a formal review process to begin evaluating …
(Bloomberg) – Oil prices likely will trade at about $85-$90 a bbl in the third quarter even if OPEC+ producers and allies decide not to extend current supply cuts, said Gunvor Group Ltd.’s global head of research and …
LONDON – Oil prices were broadly steady on Thursday, shored up by a surprise U.S. crude stock drop and the U.S. Federal Reserve sticking to its outlook on rate cuts for the year.
Brent crude futures for May
(WO) – During a discussion titled, “Energy security in a volatile world: The importance of markets” at CERAWeek by S&P Global in Houston, Texas, Hess Corp. CEO and namesake John Hess made an impassioned call to refill the …
WO) – During CERAWeek by S&P Global’s second day, ConocoPhillips’ CEO Ryan Lance announced that his firm’s highly-anticipated Willow project in Alaska is making developmental headway.
Sitting down with S&P Global’s Dan Yergin, Lance also discussed Biden’s controversial …
Oil prices fell on Wednesday after hitting multi-month highs in the previous session, as investors braced for the U.S. Federal Reserve’s interest rate policy announcement later in the day.
Brent crude futures for May were down $1.20 or 1.4% …
U.S. oil and gas exploration and production companies spent as much as $234 billion on mergers and acquisitions (M&A) last year—the highest such spend in real dollar terms since 2012, the Energy Information Administration (EIA) said in an …
(Bloomberg) – Chevron Corp.’s discussions with Exxon Mobil Corp. and China’s Cnooc Ltd. over a prolific oil field off the shores of Guyana ended “abruptly” a few weeks ago, Chief Executive Officer Mike Wirth said.
Chevron held constructive …
(Bloomberg) – Exxon Mobil Corp. is open to talking to Chevron Corp. about its proposed takeover of Hess Corp. as the oil giants spar over the deal’s implications for a massive offshore oil project in Guyana, Chief Executive …
LONDON -Oil prices hit four-month highs on Tuesday after breaking above range-bound trading last week, but gains were capped by the prospect of rising exports from Russia as Ukrainian attacks on oil infrastructure curb domestic refining activity.
The …
HOUSTON – Top oil executives and ministers descend on Houston this week for one of the world’s biggest energy conferences emboldened by blockbuster mergers, stable oil prices and less pressure for a large scale move to clean fuels.
Global …
(Bloomberg) – The boss of Exxon Mobil Corp. said Monday that it has no interest in buying Hess Corp. outright, despite taking Chevron Corp. to arbitration over its proposed $52 billion merger with the other company.
“If we …
Global oil demand will not peak for some time so policy makers need to ensure sufficient investment in oil and gas to meet consumption and abandon the fantasy of phasing out the fossil fuels, Saudi Aramco CEO Amin …
(Bloomberg) – House Republicans have launched a second probe of the Biden administration’s move to pause liquefied natural gas (LNG) export approvals, questioning if election-year politics played a role in the decision.
The House Committee on Oversight and …
Brent crude briefly topped $86 per barrel on Monday for the first time since November, before pulling back, as Ukraine stepped up its attacks on Russian energy infrastructure.
Brent crude oil futures for May delivery were up 51 cents …
WASHINGTON – The U.S. is seeking to buy 3 million barrels of oil for the Strategic Petroleum Reserve (SPR), as one storage site winds down maintenance that had tempered the pace of replenishing the stockpile, the U.S. Energy Department …
The U.S. Export-Import Bank approved a loan guarantee of $500 million for a Bahrain oil project despite opposition from Democrats noting the move would compromise the Biden administration’s hard line on climate change.
Last month, the Export-Import Bank …
BP and Venezuela are jointly discussing the development of a gas field in Trinidad and Tobago, which the island nation shares with Venezuela.
“BP can confirm that it is in discussions with the government of Trinidad and Tobago …
Oil prices edged lower on Friday but were on track to gain over 3% for the week, boosted by the International Energy Agency raising its 2024 oil demand forecast and an unexpected decline in U.S. stockpiles.
Brent crude …
(Bloomberg) – From a dark Houston control room, Rafael Guedes watched on a monitor as a robot took charge of a drilling rig in a North Dakota oil field, locking out the human operator.
Glowing red boxes lit …
