OAG360 – Page 311 – Oil & Gas 360

Low-carbon hydrogen is not cheap and needs support, says major energy organization

July 28, 2021

CNBC Low-carbon hydrogen isn’t “cost competitive with other energy supplies in most applications and locations” and the situation is unlikely to change unless there’s “significant support to bridge the price gap,” according to the World Energy Council. Published Tuesday, the analysis – which was put together in collaboration with PwC and the U.S. Electric Power Research Institute – raised the

Mexico’s Pemex posts quarterly net profit; debt swells to $115 bln

July 28, 2021

Nasdaq MEXICO CITY – Mexico’s state oil company Petroleos Mexicanos (Pemex) on Wednesday reported net profit of 14.4 billion pesos ($722.5 million) in the second quarter, reversing course after a loss in the same period last year thanks to higher prices and crude production. Pemex’s financial debt swelled slightly from the first quarter of the year, reaching $115.1 billion at

Hess reports estimated results for the second quarter of 2021

July 28, 2021

Key Developments: Announced a significant new oil discove…

ExxonMobil makes new discovery off Guyana’s coast

July 28, 2021

Nasdaq Exxon Mobil Corp XOM.N said on Wednesday it has made a new discovery at Longtail-3 in the Stabroek Block offshore Guyana, as the U.S. oil major develops one of the world’s most important new oil and gas blocks in the last decade. Exxon operates the 6.6-million-acre Stabroek Block as part of a consortium that includes Hess Corp HES.N and China’s CNOOC Ltd 0883.HK.

Oil nears $75 as U.S. inventory drop counters virus concerns

July 28, 2021

Reuters LONDON – Oil rose towards $75 a barrel on Wednesday ahead of an industry report expected to show U.S. crude inventories fell, bringing the focus back to a tight supply and demand balance rather than rising coronavirus infections. Official U.S. Energy Information Administration inventory figures are out at 1430 GMT. [EIA/S] On Tuesday, two market sources citing American Petroleum

EnerCom’s 26th The Oil & Gas Conference® brings a broad group of public and private energy companies, energy analysts, industry leaders and investors to Denver, Aug. 15-18, 2021

July 27, 2021

Oil & Gas 360 Publisher’s Note: Registration is Open for The Oil & Gas Conference®, August 15-18, 2021 in Denver, Colorado. DENVER – June 14, 2021 (PR Newswire) Institutional investors, portfolio managers, financial analysts, CIOs and other investment community professionals who invest in the energy space should register now for The Oil & Gas Conference® which will take place Aug. 15-18, 2021, at the Denver Downtown Westin hotel. Click here to

Regulations crack-down on fugitive methane emissions

July 27, 2021

Oil & Gas 360 Publisher’s Note: Trido Solutions will be presenting in-person on the Methane Mitigation Panel at The Oil & Gas Conference on Wednesday, August 18th from 1:30 p.m. MT – 2:30 p.m. MT at the Westin Denver Downtown and is available for 1×1 meetings. You can register to attend the conference at https://www.theoilandgasconference.com. Regulations Crack-Down on Fugitive Methane

Exclusive Interview: Qnergy – stirling engines for addressing methane emissions - oil and gas 360

Exclusive: Petrolex Investments Executive Interview: Major Tuscaloosa Deep Gas Prospects in South Louisiana

July 27, 2021

Publisher’s Note: Dan Genovese with EnerCom sat down with Mike Kenney, President of Petrolex Investments, LLC to learn more about them. Petrolex is a Louisiana based company funded by a large, multi-national packaging company. Their senior team of global experts were assembled to appraise and development this HPHT “Best in Class” prospect and extend the proven Tuscaloosa natural gas trend

Column-Rising global energy use complicates path to net zero: Kemp

July 27, 2021

Reuters LONDON – Global energy consumption is likely to increase by between 50% and 100% from present levels by 2050, underscoring how challenging it will be to satisfy rising energy demand while simultaneously reducing net emissions to zero. Primary energy consumption climbed to 582 exajoules (EJ) in 2019, the last year before the pandemic, up from 338 EJ in 1989,

Column: India joins trend to use strategic crude reserves to offset high oil prices

July 27, 2021

Reuters LAUNCESTON, Australia – India’s move to commercialise its strategic crude oil reserves is another sign that major Asian importers are taking steps to mitigate the high prices caused by the OPEC+ group’s output cuts. India, the second-biggest crude importer in Asia behind China, aims to commercialise half of its strategic petroleum reserve (SPR), Reuters reported on July 22 citing

Action on climate change can provide a shot in the arm for the global economy, economist says

July 27, 2021

CNBC Ramping up investment in policies and technologies to tackle climate change could play a significant role in the global economy’s recovery from the coronavirus pandemic. In a recent note, Charles Dumas, chief economist at U.K.-based investment research firm TS Lombard, said that action on climate change is often criticized as moving too slowly. However, with governments increasing spending to

Pioneer Natural Resources warns of $832 mln derivatives loss

July 27, 2021

Nasdaq Independent shale producer Pioneer Natural Resources PXD.N on Tuesday warned it would be hit by an $832 million second-quarter loss on oil and gas derivatives. Many producers locked in sales when oil prices rose above $40 a barrel last year, but are now facing losses after crude prices jumped above $60 a barrel during the quarter Clc1. For the first

Premium Content