Popular 2

GEOPARK announces successful Indico Field Drilling in CPO-5 Block in Colombia

GEOPARK announces successful Indico Field Drilling in CPO-5 Block in Colombia

360 Feed Wire

Bogota, Colombia – November 12, 2020 – GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Ecuador, Chile, Brazil …

U.S. crude oil inventories increase by 4.3  million barrels

U.S. crude oil inventories increase by 4.3 million barrels

Weekly Crude Oil Storage as of November 6, 2020

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 4.3 million barrels from the previous week. At 488.7 million barrels, U.S. crude oil …

Reducing LOE’s are saving operators millions every year – do you have too much money?

Reducing LOE’s are saving operators millions every year – do you have too much money?

If you have listened to any of the recent M&A investor calls, you will notice two main themes that management highlights as reasons that make these deals attractive to investors: ESG commitments and cost savings from ‘synergies’. A few examples

U.S. crude oil inventories decrease by 8 million barrels

U.S. crude oil inventories decrease by 8 million barrels

Weekly Crude Oil Storage as of October 30, 2020

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 8 million barrels from the previous week. At 484.4 million barrels, U.S. crude oil …

U.S. crude oil inventories increase by 4.3 million barrels

U.S. crude oil inventories increase by 4.3 million barrels

Weekly Crude Oil Storage as of October 23, 2020

 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 4.3 million barrels from the previous week. At 492.4 million barrels, U.S. crude oil …

Aramco Trading targets 6 million b/d within three years

Aramco Trading targets 6 million b/d within three years

S&P

Oil & Gas 360 Publishers Note: Saudi Arabia’s Aramco seems to be on the right track for success when compared to the other major oil companies. 

Dubai — Saudi Arabia’s Aramco Trading Co. is on track to hit 6 …

October 27, 2020 - 1:41 pm Crude Oil News, International, Popular 2
Source: CNBC

Libya lifts force majeure on El Feel oil field on way to 1 mil b/d output

S&P

Dubai — Libya’s state-owned National Oil Corp. said Oct. 26 it lifted force majeure on the 70,000 b/d El Feel, or Elephant, oil field as the OPEC producer seeks to almost double output to over 1 million b/d within …

October 26, 2020 - 12:45 pm Crude Oil News, International, OPEC, Popular 2
Source: Reuters

Factbox: Libya’s troubled oil sector sees new revival

Reuters


LONDON – Libya’s oil sector, shattered by unrest since the toppling of long-time leader Muammar Gaddafi in 2011, is back on the rise.

The easing of a blockade by eastern forces, which had cut output by more than 90%

Libyan oil output reaches 500,000 barrels per day following industry restart

Libyan oil output reaches 500,000 barrels per day following industry restart

Energy Mix

Libya’s daily oil production has risen to around 500,000 barrels, according to people familiar with the situation, as the war-battered nation restarts its energy industry after a truce.

Sharara, the country’s biggest oil field, is pumping roughly 110,000 …

October 18, 2020 - 2:57 pm Crude Oil News, International, OPEC, Popular 2
ConocoPhillips in talks to buy Permian producer Concho – OAG360 Rumor Mill

ConocoPhillips in talks to buy Permian producer Concho – OAG360 Rumor Mill

OAG360 Publishers: ConocoPhillips looks to hop in on the M&A action with the acquiring Midland, TX based Concho Resources.  Any low premium – all stock deal would be a steal for $COP with $CXO shareholders taking it in the shorts. …

Duke Energy’s New ESG Plans Target Coal, Methane & Higher Dividends

Duke Energy’s New ESG Plans Target Coal, Methane & Higher Dividends

247Wallst

Oil & Gas 360 Publishers Note: I applaud Duke Energy for setting these aggressive ESG goals, and hope they meet and exceed them. We have been seeing many different reports about the amount of renewable energy waste, and un-recyclable

October 11, 2020 - 6:22 am ESG, Popular 2, Power Generation, Renewable Energy
Source: Reuters

Sole survivor? Saudi Aramco doubles down on oil to outlast rivals

Reuters


DUBAI/RIYADH – The slump in demand for crude during the coronavirus pandemic has forced oil companies to contemplate the possibility that the fossil fuel market has peaked and the time for a global energy transition has come.

But Saudi …

Malampaya with depletion compression platform and bridge; Source: Shell

Op-ed: A $100 billion Big Oil divestiture plan is coming

Royal Dutch Shell

Tore Guldbrandsøy, senior vice president, and Ilka Haarmann, analyst, at Rystad Energy
 
Source: Reuters

OPEC September oil output rises for third month on Libya restart, Iran

Reuters


LONDON  – OPEC oil output has risen for a third month in September, a Reuters survey found, as a restart of some Libyan installations and higher Iranian exports offset strong adherence by other members to an OPEC-led supply cut …

ESG Data Quagmire Impedes Sustainable Finance Impact, OECD Says

ESG Data Quagmire Impedes Sustainable Finance Impact, OECD Says

Bloomberg Green


Oil & Gas 360 Publishers Note: We have been seeing on the 360 News Desk, “No ESG – No Access to Capital”. This article brings up exactly what we are seeing in the market. There is also the

BP hits 25-year low a week after unveiling a new climate strategy

BP hits 25-year low a week after unveiling a new climate strategy

Offshore


A week after British oil and gas giant BP announced its plan to transition from mainly an oil operator into a clean-energy giant, the company saw its share price drop to a 25-year low.

BP’s shares in London on …

Australia to invest $13 billion in energy technology to cut emissions

Australia to invest $13 billion in energy technology to cut emissions

Reuters


Australia plans to invest A$18 billion ($13 billion) over the next 10 years in technologies to cut carbon emissions in the fight against climate change, the country’s energy minister said on Monday.

The technology investment roadmap is the latest …

BP terminates Deepsea Aberdeen contract

BP terminates Deepsea Aberdeen contract

Offshore Technology 


Oil & Gas Publishers Note: This contract termination falls right in line with BP’s plans to morph into a renewable energy company. We covered this on our “BP Week Podcast Series”. This change is also being followed by

U.S. regulators split with EU/U.K. over ESG investing – The energy sector is at the forefront of ESG

U.S. regulators split with EU/U.K. over ESG investing – The energy sector is at the forefront of ESG

Pensions & Investments


Oil & Gas 360 Publishers Note: Nice article written by Hazel Bradford covering ESG investing and the U.S. and EU/U.K. differences and similarities. What is not covered is some specifics about the energy sector. Large power, oil,

Rystad Energy: Giant Tuna-1 discovery could save Turkey $21 billion

Rystad Energy: Giant Tuna-1 discovery could save Turkey $21 billion

Offshore Energy


If Turkey develops the giant Tuna-1 (Danube-1) gas discovery, it could potentially save the country up to $21 billion in import costs, Rystad Energy estimates.

Oil & Gas 360 Publishers Note Key takeaway: “The prospect of a new

Europe could see USD35 billion in CCS spending till 2035, with most capacity coming in the UK – Rystad Energy

Europe could see USD35 billion in CCS spending till 2035, with most capacity coming in the UK – Rystad Energy

Rystad Energy


It’s been a long and costly two decades of carbon capture and storage (CCS) studies and test centers. Now Europe has reached a stage where big-scale developments make financial sense and could trigger up to $35 billion in …

Tesla starts battery recycling in China

Tesla starts battery recycling in China

Argus


Oil & Gas 360 Publishers Note: Interesting discussion points around the green movement and being good stewards of our planet. With the batteries being charged from grid power plants, and the precious  metals required to manufacture the batteries, there

image
Image: Kizonga deepwater project, off northern Angola coast. Source: ExxonMobil

ExxonMobil mulls worldwide job cuts after revealing lay-off plan in Australia

Offshore Energy


U.S. energy giant ExxonMobil is assessing whether to cut jobs worldwide after announcing a voluntary lay-off programme in Australia.

Namely, ExxonMobil said on Wednesday that it started a voluntary redundancy program for its Australian employees.

The company added …

US presidents and oil production: A deep dive into Obama and Trump records, Biden’s proposed plan

US presidents and oil production: A deep dive into Obama and Trump records, Biden’s proposed plan

Rystad Energy


Oil & Gas 360 Publishers Note: Rystad is a great resource for world energy information. There are some great nuggets in this article. However, in this conclusion I do not agree.  Check out our live daily show: Energy

Majid Mufti, former CEO of Saudi Aramco Energy Ventures

CEO of Aramco’s $500 million investment arm reportedly steps down

Oil & Gas


Following a series of changes in its management team, Saudi Aramco has appointed a new CEO for its investment arm, Bloomberg reported, citing anonymous sources.

Mahdi Aladal, who previously headed Aramco’s base oils and lubricants division, …

August 30, 2020 - 8:00 am International, People, Popular 2
Fidelity International chief executive Anne Richards says running companies solely for the benefit of equity owners is no longer an option.

Redefining capitalism for a new ESG world – Austrailia and the US have this in-common

The Sydney Morning Herald


Oil & Gas 360 Publishers Note: ESG is one of the most single important business issue around the globe, inclusive for all markets. I wrote an article last week, “Contrary to the news or public

Source: Reuters

SW Louisiana starts post-Laura recovery: Update – refineries in the path

Argus


Houston, 27 August (Argus) — Industries from Beaumont, Texas, to Lake Charles, Louisiana, are assessing damage and beginning recovery from Hurricane Laura today, the most powerful hurricane on record to hit the region.

The storm came ashore near Cameron, …

August 27, 2020 - 2:00 pm Downstream, Energy News, Popular 2, Special Report
About 150 more North American E&Ps will need Chapter 11 protection by end-2022

About 150 more North American E&Ps will need Chapter 11 protection by end-2022

Oil&Gas


So far this year 32 E&Ps have already filed for Chapter 11, recording a cumulative debt of about $40 billion

The Covid-19 pandemic has added severe financial strain on a North American upstream industry that was already reeling under …

Saudi Aramco president and CEO Amin Nasser -Saudi Aramco

CCUS – Carbon Capture, Utilization and Storage

Saudi Aramco – 360 Feed Wire


Integrating the climate change challenge with the circular carbon economy

Riyadh — At a gathering of energy leaders in February, Saudi Arabia called on global cooperation for the rapid scale up of carbon capture

Source: Houston Chronicle

West Africa needs enabling climate to exploit significant gas potential

Ventures Africa


Oil and Gas Publishers Note: The low cost of kWh to all of the African people regardless of income or country. Some countries and major energy companies are poised to take advantage of the African people. Gaining control