(Bloomberg) –OPEC’s top official said forecasts that oil demand is heading toward a peak will prove just as misguided as earlier predictions that supply was reaching its zenith.
“Ultimately, peak oil supply has never come to pass, and …
Europe and the United States risk missing their ambitious wind power installation targets as soaring costs, supply chain delays, and low electricity prices at auctions hamper development and lead to a cancelation of offshore wind projects.
Government targets …
(Bloomberg) – BP Plc’s Chief U.S. Economist Michael Cohen said the oil industry focused too much on cutting greenhouse gases last year, eroding its ability to keep pace with demand.
“2022 taught us that too much focus …
In Europe, fears of a potentially deep recession continue to take hold. Meanwhile, these fears seem to have subsided in North America—at least in the oil industry. Instead, it’s back to growth mode for the shale patch and …
AUSTIN – Texas Comptroller Glenn Hegar announced the Fiscal Year 2022 (FY 22) state revenues highlighting that the oil and gas industry paid record-breaking taxes to the state.
The oil production tax generated $6.36 billion up 84% from …
(Bloomberg) — The world’s oil map is being redrawn as the industry becomes increasingly intertwined with renewables, according to consultancy Wood Mackenzie Ltd.
Oil majors that want to reduce their carbon footprint will have to shift their …
Bloomberg) — The Canadian government released potential designs for an emissions cap on the oil and gas industry, the next step in Prime Minister Justin Trudeau’s plan to cut emissions in the sector by 42% by 2030.
Environment …
Pressured by strict U.S. sanctions, Venezuela’s oil exports plunged by 376,500 barrels per day (bpd) in 2020, according to Refinitiv Eikon data and internal documents from state-run PDVSA, financially squeezing socialist President Nicolas Maduro.
The administration of U.S. President …
Mike Sommers will be the new president and CEO of the American Petroleum Institute, following an election this afternoon by API’s board. Sommers brings two decades of political experience to API, including his current role as president and CEO of …
Pennsylvania natural gas production has been on an upward curve since 2009.
According to the EIA, Pennsylvania averaged a record 15 Bcf/d in 2017. Producers have the Appalachian Basin to thank – Pennsylvania accounted for 19% of total U.S. marketed …
International corporate law firm Haynes and Boone has been tracking and reporting industry developments in oilfield service restructurings. The firm’s …
Carrying on from Q4, all 14 of Houston-based Independence Contract Drilling, Inc.’s (ticker: ICD) ShaleDriller rigs are currently contracted and operating under term contracts.
As of December …
Ryan, LLC, a global tax service and software provider, reported that the Bipartisan Budget Act of 2018 (passed on February 9, 2018) contained a number of tax extenders, including a one-year retroactive extension of the Energy Efficient Commercial Building Deduction.…
Noble Energy, Inc. (ticker: NBL) has signed agreements to sell significant quantities of natural gas from the Leviathan and Tamar fields to Dolphinus Holdings Limited to supply gas in Egypt.
These agreements, one for natural gas from Leviathan and one …
