OPEC projects tight oil markets in advance of June crude output talks

The coalition led by Saudi Arabia and Russia believes that the glut created during the pandemic has nearly gone, and that oil stockpiles will diminish rapidly in the second half of the year as lockdowns ease and travel gathers pace. ...

Natural gas producers jockey for position as focus shifts to hydrogen

The global natural gas industry is in an existential race: either find a way to be part of the next generation of energy or risk getting supplanted by alternatives. ...

Oil price climb continues as crude demand looks set to absorb more OPEC barrels

Futures in New York climbed past $67 a barrel, putting crude on track for a second straight monthly gain. OPEC and its allies are expected to stick with a decision to boost output in July when the group gathers Tuesday. ...

Iran should target 1970s-era oil output levels, says oil minister

Iran’s oil minister said the country can increase its crude production rapidly, as world powers enter the final stages of negotiations to revive a 2015 nuclear accord with the Islamic Republic. ...

Iran opens new oil export pipeline bypassing Strait of Hormuz

Iran started its first transfer of crude oil via its strategic Goreh-Jask pipeline, allowing the country to bypass the Strait of Hormuz, the state-run Islamic Republic News Agency reported. ...

U.S. energy secretary sets expectations for greener LNG production

U.S. Secretary of Energy Jennifer Granholm said the Biden administration would rather promote and sell a cleaner version of the fuel. The statement marks a policy shift from the Trump administration, which rolled back environmental regulations and heavily promoted U.S. LNG around the world. ...

OPEC finds a rare opportunity as Wall Street, green activists hinder competition

For the first time in decades, oil companies aren’t rushing to increase production to chase rising oil prices as Brent crude approaches $70. Even in the Permian, the prolific shale basin at the center of the U.S. energy boom, drillers are resisting their traditional boom-and-bust cycle of spending. ...

Majority of U.S. opposes phasing out fossil fuels, Pew Research Center poll shows

The Pew Research Center released a new poll which found that nearly two-thirds of the U.S. public opposes phasing out fossil fuels as a means of addressing climate change. ...

Maersk Supply Service taps Wärtsilä to support its 2030 fleet decarbonization goals

Modern smart marine electric and power systems, such as Wärtsilä HY are supporting decarbonization through the increasing use of electrical solutions, renewable energy and the evolution of propulsion design to create greater flexibility and efficiency. ...

Total rebrands as TotalEnergies to reflect energy transition goals

This new name and new visual identity embody the course TotalEnergies has charted for itself: that of a broadly-focused energy company committed to producing and providing energies that are ever more affordable, reliable and clean. ...

Canada’s Noia presses for deal on Terra Nova FPSO before June 15 deadline

During a recent call with investors, Suncor Energy CEO Mark Little commented on the future of the Terra Nova FPSO and efforts to confirm the Asset Life Extension project of the vessel. ...

U.S. pipeline operators may face fines for unreported cyberattacks

Pipeline operators who fail to report cybersecurity attacks to the Department of Homeland Security could face fines of $7,000 a day or more under regulations being released Thursday in response to the ransomware attack that temporarily paralyzed the nation’s biggest fuel pipeline. ...

Investors to Big Oil: Energy transition is happening, and there’s no going back

In the past, environmental activist investors were limited to the odd shareholder proposal, inevitably rebuffed by the boards and management teams. On Wednesday by contrast, shareholders ousted two Exxon Mobil directors seen as insufficiently attuned to the threat of climate change, while Chevron shareholders voted for a proposal to compel the company to reduce pollution by its customers. ...

Maersk Drilling to sell Maersk Inspirer for $373 million

Maersk Drilling has entered into an agreement to divest the combined drilling and production unit Mærsk Inspirer to Havila Sirius for a price of $373 million. ...

Shell continues refining footprint reduction with Mobile, Alabama facility sale

The divestment is part of Shell’s strategy to reduce its global refinery footprint to core sites integrated with the company’s trading hubs, chemicals plants and marketing businesses. ...

Canada’s largest oil sands producer pledges 30% emissions reduction by 2030

Suncor Energy aims to reduce emissions by 10 megatons by 2030, from about 29 megatons in 2019. Half of the target will be achieved at its oil sands plants, refineries and other facilities through using carbon capture technology, switching fuels for operations and increasing energy efficiency. ...

Chevron shareholders challenge C-suite by backing climate proposal

Chevron shareholders voted for a proposal to reduce emissions from the company’s customers, the latest sign that oil titans are coming under increasing pressure to address environmental concerns. ...

Tiny activist investor forces Exxon CEO to chart a greener, more diversified course

Exxon Mobil's CEO Darren Woods was dealt a stunning defeat by shareholders when a tiny activist investment firm snagged at least two board seats and promised to push the energy giant to diversify beyond oil and fight climate change. ...

Growing U.S. oil demand could crimp booming crude exports

The U.S. oil market is showing clear signs of tightening on the back of strengthening demand, raising a question about whether the nation’s booming crude exports could slow. ...

Biden defends Conoco’s Arctic drilling plan originally approved by Trump

The Justice Department is defending the Trump administration’s approval of a massive ConocoPhillips Alaska Inc. project in federal court, over the objections of environmentalists who say the government didn’t adequately consider the venture’s effect on polar bears and the climate. ...

Lowest gasoline inventories in 30 years await U.S. motorists this June

Gasoline demand in the world’s largest economy is heading into one of its traditional peak seasons with some of the lowest stockpiles in almost three decades. ...

API outlines hurricane response and recovery procedures, introduces preparedness handbook

With the busiest part of the Atlantic and Gulf of Mexico hurricane season fast approaching, the U.S. oil and natural gas industry is taking steps to ensure the safety of facilities, employees and communities during heavy weather events. ...

UK oil and gas industry body reiterates Paris Agreement commitment following Shell decision

In the UK, the oil and gas industry has committed to working in line with the Paris Agreement and recently passed the landmark North Sea Transition Deal which included a pledge to cut production emissions by 15 million tons by 2030. ...

Shell loses precedent-setting climate change case in Dutch court

Royal Dutch Shell Plc was ordered by a Dutch court to slash its emissions harder and faster than planned, dealing a blow to the oil giant that could have far reaching consequences for the rest of the global fossil fuel industry. ...

ADNOC plans to raise $1.6 billion via stock and bond sales

Abu Dhabi’s state oil firm plans to raise $1.64 billion by selling more shares in its fuel retail unit and by issuing bonds, as the emirate taps its energy wealth to attract investment. ...

Sparrows Group secures lifting inspection and maintenance contract with Chevron Australia for Gorgon and Wheatstone facilities

The award, which marks Sparrows first large contract in the Pilbara region of Western Australia, will see the company hire local personnel including lifting engineers, mechanical and electrical technicians, rope access, inspectors and crane supervisors. ...

WTI crude trading trends suggest a U.S. oil supply crunch as driving season nears

A key price spread in the market for West Texas Intermediate crude is signaling that oil traders are bracing for a potential supply crunch just ahead of the busy summer driving season that sparks a demand surge. ...

Biden sets new cybersecurity requirements for pipeline operators

The Biden administration is moving forward with mandatory cybersecurity requirements for pipelines, according to a person briefed on the plans, following the ransomware attack earlier this month that paralyzed the biggest fuel pipeline in the nation. ...

ADNOC awards $744 million EPC contract for Belbazem Offshore Block field development

ADNOC awarded a $744 million contract to China's CNPC for the full field development of the Belbazem Offshore Block, underscoring ADNOC's drive to unlock and maximize value from all of Abu Dhabi’s fields as it expands its oil production capacity to 5 MMBPD by 2030. ...

AAPG and SPE exploring merger to create new, future-focused organization

“Our two organizations have worked together side by side for many years on numerous initiatives and global events. Joining forces would bring the best of both organizations together and provide additional value to engineers, geoscientists, and the broader energy sector,” said Rick Fritz, AAPG president. ...

Dutch court to decide if Shell is legally responsible for climate change

A verdict holding oil companies liable for greenhouse gas emission caused by the burning of fossil fuels they’ve extracted would be a landmark victory for environmental campaigners, who’ve increasingly turned to courts to seek reforms. ...

Cabot-Cimarex merger puzzles both analysts and investors

The merger of Cabot Oil and Gas Corp. with Cimarex Energy Co. announced Monday has confounded investors and analysts, leaving them to question the logic behind a tie-up that the companies say will increase diversification. Cimarex is mostly an oil explorer in Texas and Oklahoma, while Cabot is focused on natural gas drilling in the Marcellus shale basin in Appalachia. ...

Exxon’s activist investors spin climate dispute into a referendum on CEO Darren Woods

An unprecedented fight over who should sit on the board of Exxon Mobil Corp. is turning into a referendum on Chief Executive Officer Darren Woods as a decades-long struggle by climate campaigners comes to a head. ...

Shell accepts unsolicited offer from Pemex for Deer Park, TX refinery stake

Shell Oil Company has reached an agreement for the sale of its interest in Deer Park Refining Limited Partnership, a 50-50 joint venture between Shell Oil Company and P.M.I. Norteamerica, S.A. De C.V., a subsidiary of Pemex, for a total consideration of $596 million. ...

Shale consolidation continues as Cabot, Cimarex ink $7.4B merger

Cabot Oil and Gas Corp. agreed to merge with Cimarex Energy Co., combining two mid-tier shale drillers in an all-stock transaction valued at about $7.4 billion as the U.S. oil and gas sector continues to consolidate. ...

DNV, Keppel Offshore collaborate on digital asset lifecycle program

The aim of the collaboration is to improve overall efficiency of the design and construction process, and of the asset lifecycle support services for projects in the offshore and marine industry. ...

Tensions over Arctic resource rights grow as Russia takes leadership role

Ministers gathering in the Icelandic capital Reykjavik for a meeting of the Arctic Council last week weren’t due to discuss security. But the issue dominated conversations on the sidelines after Russia’s Foreign Affairs Minister Sergei Lavrov declared ahead of the summit that the Arctic “is our land and our waters.” ...

Feds allow Dakota Access to stay online during environmental study

The pipeline at the center of a years-long battle between oil companies and the Standing Rock Sioux tribe may remain in service even though it lacks a valid federal easement for a water crossing in North Dakota, the U.S. District Court for the District of Columbia said Friday. ...

China extends oil market dominance as tax code forces buying shift

China is set to extend its dominance in the global oil market as planned tax adjustments spark a chain reaction, prompting processors to boost crude imports and raise refinery run rates. ...

Oil prices in a holding pattern until June’s driving season starts, says analyst

Oil is “in a holding pattern until we get to June, because that’s when Europe’s going to start to reopen and the U.S. driving season will have officially kicked off,” said Jay Hatfield, CEO of Infrastructure Capital Management. “Between now and then, the main influences will be Iran headlines as a headwind” and signs of further improvement in the U.S. market as a supportive factor. ...

Biden loosens Nord Stream 2 pipeline sanctions, but startup challenges remain

A natural gas pipeline linking Russia and Germany edged closer to completion after the Biden administration loosened sanctions of the controversial project, but significant hurdles remain before the fuel can start flowing under the Baltic Sea. ...

Schlumberger announces collaboration with Amazon to deploy DELFI petrotechnical suite on AWS

By deploying digital solutions enabled by the DELFI environment and running on Amazon Web Services, Schlumberger customers can run complex models, computer simulations, and analyses in a fraction of the time compared to traditional computing solutions. ...

BP launches offshore wind recruitment drive to meet green energy targets

The London-based oil and gas company is looking to fill 100 offshore-wind jobs in the UK and the U.S., a figure which could double by the end of the year. The recruitment drive comes even as thousands of other employees have left the company amid a wider restructuring. ...

Qatar invests billions, undercuts rivals to maintain LNG market dominance

The world’s top exporter of liquefied natural gas is ramping up production dramatically and undercutting competitors in a bid to squeeze them out the market. ...

Iran’s president Rouhani says oil sanctions will be lifted

Iran’s President Hassan Rouhani said world powers have accepted that major sanctions on his country -- including those on oil, banking and shipping -- will be lifted as part of an agreement with the U.S. to revive a 2015 nuclear deal. ...

Shell inks $380 million deal for its Malampaya, Philippines gas field

“Since it began commercial operations in 2002, Malampaya has supplied a significant portion of the Philippines’ energy demand and it will continue powering the country with indigenous gas following a safe transition of the asset and its experienced workforce,” said Wael Sawan, Shell’s Upstream Director. ...

EU signals confidence in a prompt revival of the 2015 Iran nuclear accord

“We have made substantial progress over the last 10 days but there are still things to be worked on and we will reconvene next week,” said Enrique Mora, the EU official in charge of coordinating diplomacy in the Austrian capital. “The spirit of compromise is high.” ...

Oil reaches three week low on inflation concerns, Iran deal progress

Oil plunged to the lowest in three weeks alongside a broader market decline with traders also concerned about growing supply from the U.S. and Iran. ...

First U.S. oil inventory rise in three weeks adds to crude price pressure

Oil extended losses after an increase in U.S. crude inventories added to concerns around the prospect of more Iranian oil returning to the market under a potential revival of the nuclear deal. ...

Iran preps new oil export terminal beyond Strait of Hormuz

Iran said it will soon export oil from a new port that allows it to bypass the Strait of Hormuz, as nuclear talks between Tehran and other world powers show signs of progress. ...

Oil price slide continues on inflation concerns, Iran deal progress

West Texas Intermediate for June delivery tumbled 1.4%, while global benchmark Brent also declined. Stock markets fell on inflation fears, while the dollar climbed, hampering prices. There was also an increase in U.S. crude stockpiles last week, the American Petroleum Institute reported. ...

BP, Eni consider joint venture to improve oil and gas production in Angola

The two energy giants have signed a non-binding agreement to discuss combining their upstream portfolios in the West African nation. That could be a boon to the country’s beleaguered oil industry, which has seen production slump by more than a third since 2015 amid chronic under-investment. ...

Maersk Supply Service goes local with Norwegian-flagged vessel and crew based in Bergen

“Our goal is to have several vessels operating in Norway – both in the oil and gas industry and floating wind," said Duncan MacPherson, the new managing director in Norway for Maersk Supply Service. ...

Texas oil regulator takes firm positions against Washington in defense of oil and gas

“The so-called CLEAN Future Act is nothing more than the Green New Deal in lipstick,” said Texas Railroad Commissioner Wayne Christian. “This legislation would effectively federalize regulation of oil and gas, increasing costs to consumers and our national debt, while harming our energy independence and national security.” ...

Oil prices dip as Iran nuclear deal chatter stalls crude’s weak rally

Prices were already weak earlier in the session after Brent futures failed to sustain a rally past the key psychological $70-a-barrel mark, which it hasn’t closed above since May 2019. Meanwhile, concerns are lingering around the worsening Covid-19 crisis in India. ...

Russian diplomat walks back comments on Iran nuclear deal breakthrough

Mikhail Ulyanov, Russia’s representative at the United Nations’ International Atomic Energy Agency, said that while significant progress had been made by officials seeking to orchestrate a U.S. return to the pact abandoned by then-President Donald Trump, “unresolved issues still remain.” ...

Shell in talks with Nigeria to exit onshore oil fields as part of green push

“The balance of risks and rewards associated with our onshore portfolio is no longer compatible with our strategic ambitions,” Shell CEO Ben van Beurden told investors at Shell’s annual general meeting on Tuesday. ...

Halliburton, TGS team up to bring advanced seismic imaging to fiber optic sensing

“This solution enables enhanced reservoir understanding for our customers with a lower total cost of ownership relative to conventional 4D seismic,” said Jan Schoolmeesters, executive vice president of TGS Operations and New Energy Solutions. ...

IEA says ending new oil and gas exploration today is the only viable climate path

The International Energy Agency has a bold interpretation for what must be done to avert a climate crisis – and its measures stand in stark contrast to current economic and technological realities. ...

Growing oil demand, shrinking stockpiles push Brent crude past $70

Traders are optimistic about the prospects for a bullish summer as consumption snaps back with travel re-opening. As a result, much of Wall Street is calling for higher prices in the coming months, with Goldman Sachs Group Inc. talking up the prospects of $80 a barrel. ...

Crude prices extend gains on hopes for a summer oil demand recovery

Crude is up over 4% so far this month, though a further price breakout is being held back by a tepid recovery in Asia, where the coronavirus is crippling key importer India, and Singapore and Taiwan grapple with new outbreaks. ...

Iran’s oil minister to retire, says he won’t accept another role

Iran’s veteran oil minister, Bijan Namdar Zanganeh, will retire when President Hassan Rouhani’s term ends this year, closing a career that started with the birth of the Islamic Republic in 1979 and has often been defined by his country’s turbulent relationship with the U.S. ...

Maersk sells two jackup rigs in $31M all-cash deals

“These transactions will contribute to the necessary rationalization of the global drilling rig fleet and they are further in line with Maersk Drilling’s strategic priority of maintaining a fleet of modern, high-quality assets," said CEO Jørn Madsen of Maersk Drilling. ...

Dutch government invites Shell, Exxon to join $2.6B subsea carbon storage plan

The project at the Port of Rotterdam could sequester about 2.5 million metric tons of carbon dioxide annually by storing it in depleted gas fields in the seabed. The four companies involved—Shell, Exxon, Air Liquide SA, and Air Products and Chemicals Inc.—will receive state backing for the plan, according to Sjaak Poppe, a spokesman for the port. ...

Shell, Exxon sign $2.6B deal to store Dutch CO2 in subsea reservoir

The project at the Port of Rotterdam could sequester about 2.5 million metric tons of carbon dioxide annually by storing it in depleted gas fields in the seabed. The four companies involved—Shell, Exxon, Air Liquide SA, and Air Products and Chemicals Inc.—will receive state backing for the plan, according to Sjaak Poppe, a spokesman for the port. ...

Sasol nets $361 million on Mozambique pipeline stake sale

The deal rounds out an accelerated asset-sale program that has helped Sasol reduce borrowings that ballooned amid cost overruns at a giant U.S. chemicals project and call off a proposed $2 billion share sale. ...

Iran readies oil export capabilities as U.S. sanction talks advance

State-controlled National Iranian Oil Co. has been priming oil fields -- and customer relationships -- so it can increase exports if an accord with the U.S. is clinched. But even if a deal is struck, the flow of additional crude into the market may be gradual. ...

Refinery once key to New York’s fuel supply ordered shut

The Environmental Protection Agency ordered the shutdown of a U.S. Virgin Island refinery that historically was positioned as a key fuel source for the East Coast due to public health concerns. ...

Iran to award $1.8 billion gas field contract to local company

Iran’s Petropars Ltd. will be awarded a $1.78 billion contract by the National Iranian Oil Co. to develop the giant Farzad-B gas field that was previously intended to be tapped by a group of Indian companies. ...

Daniel Yergin to receive prestigious WPC Dewhurst Award

Pulitzer-prize winner, respected author, and leading energy expert, Dr. Daniel Yergin, is being recognised for his “exceptional contribution to the oil, gas and energy industry” with the highest honor of the World Petroleum Council, the Dewhurst Award. ...

OEC Executive Director Sandra Mourton to retire at end of June

After 21 years of exemplary service as Executive Director of the Oilfield Energy Center, Sandra Mourton is setting her sights on a well-deserved retirement, effective June 30, 2021. ...

DNV, partners researching automated verification of offshore wind turbine inspection results

DNV has launched a new collaborative research project to develop an automated data processing procedure for verification of detected wind turbine blade defects, with the aim of building trust and generating broader acceptance of automated data processing techniques across the industry and to inform future regulation. ...

Seadrill announces new Angola contract for Quenguela Drillship

Seadrill Limited announced a new contract has been secured by Sonadrill Holding Ltd, the 50/50 joint venture with an affiliate of Sonangol E.P. ...

Pipeline crisis spurs calls to boost, and forsake, fossil fuels

The cyber-attack that crippled the nation’s biggest fuel pipeline this week triggered spot shortages of gasoline and a gusher of political rhetoric, with groups from across the political spectrum offering myriad, and contradictory, solutions. ...

DNV, partners launch researching automated verification of offshore wind turbine inspection results

DNV has launched a new collaborative research project to develop an automated data processing procedure for verification of detected wind turbine blade defects, with the aim of building trust and generating broader acceptance of automated data processing techniques across the industry and to inform future regulation. ...

Schlumberger appoints Dr. Katharina Beumelburg as chief strategy and sustainability officer

Schlumberger announced today the appointment of Dr. Katharina Beumelburg to the position of Chief Strategy and Sustainability Officer, Schlumberger Limited, reporting to Olivier Le Peuch, Chief Executive Officer. ...

Magma Global delivers world’s first high pressure composite riser pipe to HWCG

Magma Global announced delivery of the world’s first high-pressure composite riser pipe to HWCG’s storage location on the U.S Gulf Coast, completing its rapidly deployable Offset Flexible Riser (OFR) system. ...

Neptune Energy says projects are progressing well in its Q1 report

In reporting its first-quarter 2021 results, Neptune Energy said that its production growth momentum in Western European operations is on track for 2021. ...

Large Diameter Drilling, DEME Offshore to complete grouting scopes on Saint-Nazaire offshore wind farm

Large Diameter Drilling (LDD), a specialist marine drilling and grouting contractor, has signed a contract to deliver grouting services for DEME Offshore’s installation of foundations at the Saint-Nazaire wind farm off the coast of the Guérande Peninsula, France. ...

Colonial pipeline restarts after cyberattack but fuel curbs to linger

The largest gasoline pipeline in the U.S. is returning to service following a cyberattack that took the fuel artery offline for five days, offering hope that fuel shortages in several states will soon come to an end. ...

Railroad commissioner: Texas industry will prevail

The events of this year have encouraged Railroad Commissioner Jim Wright to expand his goal to include the mission at the heart of RRC: to minimize waste of Texas' natural resources. ...

Biggest U.S. gasoline pipeline restarts after cyberattack

The largest gasoline pipeline in the U.S. is returning to service, recovering from a cyberattack late Friday that sent pump prices surging and triggered shortages across the Eastern U.S. ...

Despair and brawls at Lebanon’s gas pumps as its crisis deepens

Rising global oil prices are translating into shortages at the pump in cash-strapped Lebanon, with motorists lining up for hours to fill their tanks in the latest blow to living standards in the Middle Eastern nation. ...

Enbridge says Great Lakes oil pipeline will keep running

Enbridge Inc. said it will continue to ship crude through its Line 5 pipeline that crosses the Great Lakes, despite Michigan Governor Gretchen Whitmer’s deadline Wednesday to shut the conduit. ...

Major Exxon investor joins activist battle to reform oil giant

British insurer Legal and General Group Plc became the largest-yet Exxon Mobil Corp. investor to support an activist campaign to overhaul the oil giant’s board and make its climate goals more ambitious. ...

Gasoline prices hit $3 as shortages grow on U.S. pipeline outage

U.S. average gasoline prices exceeded $3 a gallon for the first time in more than six years amid growing shortages of fuel across the South and East while Colonial Pipeline remains out of action due to a cyberattack. ...

African Energy Chamber calls for more US-Africa energy investments

U.S. companies stand to play a significant role in the road to a lower-carbon future in the continent, and to continue leading some of the most important markets in the energy industry. ...

Middle East and Africa’s oil and gas industry deal activity dropped 32.92% in Q1 2021

Led by $2.59 billion asset transaction with BP Exploration (Epsilon), Middle East and Africa’s oil and gas industry saw a drop of 32.92% in deal activity during Q1 2021, when compared to the last four-quarter average, according to GlobalData’s deals database. ...

Gas pumps run dry in U.S. south as pipeline shutdown bites

Motorists across a broad swath of the U.S. East Coast and South are struggling to find gasoline and diesel as filling stations run dry amid the unprecedented pipeline disruption caused by a criminal hack. ...

Petrofac secures contract for bp project in Mauritania and Senegal

Petrofac secured a contract with bp to develop operational procedures for their Greater Tortue Ahmeyim (GTA) Project in Mauritania and Senegal. ...

Mongolia’s Petro Matad moves forward with Block XX Exploitation License

The Mineral Resources Professional Council (MRPC) concluded that it supports and will approve Petro Matad’s Plan of Development for the Block XX Exploitation License once certain technical clarifications have been provided. ...

Largest U.S. fuel pipeline vows to overcome hack by end of week

North America’s biggest petroleum pipeline is in a race against time to overcome a cyberattack that’s frozen fuel shipments before regional reserves of gasoline, diesel and jet fuel run dry. ...

CGG awarded Equinor OBN imaging contract in Brazil

CGG has been awarded a major contract by Equinor for the seismic imaging of its Bacalhau 3D ocean bottom node (OBN) survey covering 409 sq km (158 sq mi) currently being acquired in Brazil’s deepwater Santos Basin. ...

Schlumberger and NOV collaborate to accelerate adoption of automated drilling solutions

Schlumberger and NOV announced a collaboration to accelerate automated drilling solutions adoption by oil and gas operators and drilling contractors. The agreement will enable customers to combine Schlumberger surface and downhole drilling automation solutions with NOV’s rig automation platform to deliver superior well construction performance. ...

Bonanza Creek, Extraction announce $2.6 billion merger to become Civitas Resources

Bonanza Creek Energy and Extraction Oil and Gas will combine in an all-stock merger of equals, a deal worth about $2.6 billion, the companies announced. The combined company will be called Civitas Resources, Inc. and will be the largest pure-play energy producer in Colorado’s Denver-Julesburg (DJ) Basin. ...

Bilfinger awarded €40 million inspection contract by Total EandP Denmark

Bilfinger will perform inspection services on the offshore assets of Total EandP (Exploration and Production) Denmark. The €40 million ($48.6 million) contract will be booked under Bilfinger’s Engineering and Maintenance Europe segment. ...

OGUK: parties must support Scotland’s oil and gas supply chain

The leading representative body for the UK offshore oil and gas industry has today paid tribute to former Energy Minister Paul Wheelhouse and urged all parties to support the sector and its world class supply chain in order to realize homegrown greener energy. ...

Laredo Petroleum acquiring Sabalo Energy, partner for $715 million

Laredo Petroleum announced a purchase and sale agreement to acquire the assets of Sabalo Energy, a portfolio company of EnCap Investments, and a non-operating partner for about $715 million, and the sale of 37.5% of Laredo's operated PDP reserves in its legacy leasehold in Reagan and Glasscock counties to an affiliate of Sixth Street Partners for proceeds of $405 million. ...

Oil traders work to avert shortages from U.S. pipeline hack

The shutdown of America’s largest fuel pipeline after a cyberattack is threatening to send gasoline prices to the highest in seven years as suppliers work to stave off shortages from Atlanta to New York with tankers and barges. ...

Ransomware attack shuts down biggest U.S. gasoline pipeline

The operator of the biggest gasoline pipeline in the U.S. shut down operations late Friday following a ransomware attack that threatens to roil energy markets and upend the supply of gas and diesel to the East Coast. ...

Oil posts weekly gain on expectations for stronger summer demand

Oil posted a gain this week as expectations for growing economic activity in nations from the U.S. to Europe fueled optimism around stronger summer demand. ...

Shipyards in China’s vessel-repair hub ban arrivals from India

Zhoushan is also home to some of the country’s largest oil terminals and storage tank farms. The same restrictions do not extend to ships transporting cargoes from India, according to an official from Zhoushan port and oil traders who asked not to be identified. ...

Angola’s petroleum agency hosting QandA sessions for upcoming bid round

Angola’s National Oil, Gas and Biofuel’s Agency (ANPG) is organizing two question and answer sessions, aimed at investors globally to clarify information on its ongoing bid round for onshore oil and gas blocks in the Congo and Namibe basins. ...

Big Oil braces for climate votes as investor pressure mounts

Climate change looms large for Royal Dutch Shell Plc, BP Plc and Total SE, with investors at all three energy giants calling for greater action. Shareholder resolutions on cutting carbon emissions are set to dominate this month’s AGMs, even as the companies talk up their own, competing proposals. ...

OTC 2021 announces Spotlight on New Technology® Award recipients

The Offshore Technology Conference (OTC) has announced the 2021 recipients of the Spotlight on New Technology® Award, which recognizes new, innovative technologies that are advancing and revolutionizing the future of offshore energy. ...

Texas April drilling permits up 60% over last year

The Railroad Commission of Texas issued a total of 732 original drilling permits in April 2021 compared to 456 in April 2020. The April 2021 total includes 629 permits to drill new oil or gas wells, five to re-enter plugged well bores, and 94 for re-completions of existing well bores. ...

Newfoundland and Labrador’s Noia CEO comments on the Premier’s economic Recovery Team Report

Noia CEO Charlene Johnson said the Premier’s Economic Recovery Team report highlights the need for a competitive regulatory regime that allows the Newfoundland and Labrador offshore oil and gas industry to successfully bring projects to market. ...

Survitec acquires personal protective equipment provider Hansen Protection

Survival technology leader Survitec today announced it has acquired Hansen Protection, a leading European provider of personal protective equipment. The transaction reinforces Survitec as a leader for survival technology across the maritime, defense and government, energy, and aerospace markets. ...

BP CEO Bernard Looney to headline OGUK Annual Conference

OGUK today announced the details of its Annual Conference. The three-day virtual conference entitled ‘Industry in Transition: Driving A Net Zero Energy Future’ will take place online between June 1-3, 2021. ...

EQT announces transformative $2.9 billion transaction with Alta Resources

EQT Corporation today announced it entered into a purchase agreement with Alta Resources Development, pursuant to which EQT will acquire all of the membership interests in Alta's upstream and midstream subsidiaries for approximately $2.925 billion, subject to customary closing adjustments. ...

U.S. LNG players tout carbon capture in bid to boost green image

U.S. LNG developers seeking to burnish their green credentials and boost their competitiveness on a crowded global stage are touting a costly and largely untested technology: carbon capture. ...

Total and Papua New Guinea government remobilizing, planning Papua LNG project

France-based oil company Total and the government of Papa New Guinea announced the remobilization of the Papua LNG project after a year of delay caused by the Covid-19 pandemic. ...

ConocoPhillips, Diamondback see natural gas-price gain from Texas freeze

ConocoPhillips and Diamondback Energy both got a boost from surging natural gas prices in the first quarter, as a February deep freeze in the central U.S. stoked demand for the heating and power-plant fuel. ...

Texas Legislature passes bills to support fossil fuel industries

Tuesday, the Texas Legislature passed two critically important bills that allow Texas to fight national efforts to eliminate fossil fuels. ...

IHS Markit: Rankings show U.S. already world’s most attractive renewables investment market

As the Biden Administration aims to significantly increase federal investment in renewable energy under the American Jobs Plan, the United States already ranks as the most attractive market for renewables investment, according to results from a new ranking by IHS Markit. ...

Active hydrocarbon system in Namibia exceeding expectations, Frontier says

The Board of Frontier, the privately held Houston-based international gas exploration company with a focus on Southern Africa, said its activities in Namibia are continuing to exceed expectations. ...

Sercel enters exclusive negotiations with LISS - Low Impact Seismic Sources

CGG announced that Sercel and Low Impact Seismic Sources (LISS) have entered into exclusive negotiations for Sercel’s acquisition of LISS. ...

Registration open for EWTC’s Annual Meeting

The Energy Workforce and Technology Council’s 2021 Annual Meeting is set for September 15-17 in Santa Ana Pueblo, New Mexico, and registration is open now. ...

ANPG opens Congo, Kwanza Blocks in ongoing bid round

Angola’s National Oil, Gas and Biofuel’s Agency (ANPG) has officially opened blocks for licensing in the Onshore Lower Congo Basin and the Onshore Kwanza Basin as part of its 2020 oil and gas licensing round. ...

ADNOC announces initiative to drive efficiencies in its tendering process

The Abu Dhabi National Oil Company (ADNOC) announced it has successfully implemented an innovative initiative to drive efficiencies in its tendering process. This program supports ADNOC’s ongoing efforts to enhance its approach to procurement and maximize value for ADNOC and its community of suppliers and service providers. ...

Neptune Energy acquires interest in the Pegasus West discovery

Neptune Energy announced it has acquired a 38.75% equity interest from Spirit Energy in the Pegasus West discovery and surrounding acreage in the UK Southern North Sea. ...

Ocean Infinity acquires software engineering company Abyssal

Ocean Infinity, a marine robotics company, announced it has acquired software engineering specialists Abyssal. ...

Saudi Aramco follows Big Oil rivals with bumper earnings

Saudi Aramco’s profit soared in the first quarter following a recovery in global oil and gas markets, though free cash flow remained too low to fully cover dividend payments. ...

Maersk Training and Shell announce new offshore training partnership for the Gulf of Mexico

The Shell Robert Training and Conference Center in Louisiana has established a new partnership with Maersk Training, which will see the global safety specialists deliver enhanced training to the Gulf of Mexico offshore workforce. ...

Newfoundland and Labrador’s Noia discourages abandoning offshore Terra Nova Project

Noia is deeply concerned about the potential to decommission and abandon the Terra Nova Project after Suncor Energy on Friday issued Expressions of Interest related to the Terra Nova Floating, Production Storage and Offloading (FPSO) vessel located on the Terra Nova offshore field. ...

Private equity shale specialist EnerVest fires 111 workers

EnerVest Ltd., a private equity firm that specializes in shale drilling, fired 111 people at its Houston headquarters, citing “challenging times for the industry.” ...

Valaris emerges from bankruptcy

Offshore drilling company Valaris Limited and the Valaris Group announced the company emerged from Chapter 11 bankruptcy at the end of April. ...

Neodrill announces North Sea frame agreement with Lundin Energy Norway

Neodrill has signed a frame agreement with major oil and gas operator Lundin Energy for the deployment of CAN-ductor technology. ...

Baker Hughes awarded subsea contract for Petrobras’ Marlim and Voador fields in Brazil

Baker Hughes has been awarded a subsea oilfield equipment contract from Petrobras as part of the Marlim and Voador field revitalization plan in the Campos Basin, offshore Brazil. ...

Six Citgo executives held in Venezuela released to house arrest

Six senior executives of Citgo Petroleum Corp. who have been detained by the Venezuelan government since 2017 were transferred from prison to house arrest, according to a person familiar with the matter. ...

Exxon, Chevron preach prudence even as cash waterfall returns

Exxon Mobil Corp. and Chevron Corp. added momentum to a nascent recovery in the U.S. oil industry as they reported bumper cash flow, a dramatic improvement after a torrid 2020. ...

Schlumberger-backed Arabian Drilling planning Saudi IPO

Arabian Drilling Co., a Saudi oilfield-services company partly held by Schlumberger NV, is preparing an initial public offering that could give it a valuation of around $2 billion, according to people familiar with the matter. ...

Texas freeze exacted even worse toll than estimated on U.S. oil

An Arctic cold blast that swept through the U.S. South in February caused a much bigger loss in oil supply than previously estimated, with output falling to a three-year low, according to U.S. government data. ...

Six Citgo executives held in Venezuela released to house arrest

Six senior executives of Citgo Petroleum Corp. who have been detained by the Venezuelan government since 2017 were transferred from prison to house arrest, according to a person familiar with the matter. ...

Exxon, Chevron preach prudence even as cash waterfall returns

Exxon Mobil Corp. and Chevron Corp. added momentum to a nascent recovery in the U.S. oil industry as they reported bumper cash flow, a dramatic improvement after a torrid 2020. ...

Schlumberger-backed Arabian Drilling planning Saudi IPO

Arabian Drilling Co., a Saudi oilfield-services company partly held by Schlumberger NV, is preparing an initial public offering that could give it a valuation of around $2 billion, according to people familiar with the matter. ...

Texas freeze exacted even worse toll than estimated on U.S. oil

An Arctic cold blast that swept through the U.S. South in February caused a much bigger loss in oil supply than previously estimated, with output falling to a three-year low, according to U.S. government data. ...