CGG sells its GeoSoftware business to Topicus.com and Vela Software

CGG S.A. and Topicus.com Inc. announced that CGG has entered into an agreement with Topicus and Vela Software, for the sale of CGG’s GeoSoftware business. The closing of this transaction remains subject to mutually agreed closing conditions. ...

Two crewmen killed in oil tanker attack off Oman coast

A Romanian and a U.K. citizen died on the 600-foot oil tanker Mercer Street when the vessel came under attack on Thursday while sailing from Tanzania’s Dar es Salam to Fujairah in the United Arab Emirates, said Zodiac Maritime Ltd., the manager of the tanker. ...

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Europe’s supermajors signal the era of big oil profits is back

Europe’s largest oil and gas companies are showing confidence that the era of big profits is back by significantly boosting returns to shareholders. ...

Neptune Energy taps TCS to drive cloud-native data and analytics goals

Tata Consultancy Services has helped Neptune Energy successfully build a cloud-native data and analytics platform, embrace automation to transform its IT operations and accelerate its cloud transformation journey. ...

Equinor and TotalEnergies exit key Venezuelan JV project

French oil company TotalEnergies SE and Norway’s Equinor ASA are exiting a key venture in Venezuela, adding to an exodus of foreign firms in recent years as the country’s energy industry has withered. ...

APA, TotalEnergies drill successful appraisal well offshore Suriname

APA Corporation announced drilling success and updated the status of its appraisal program offshore Suriname in Block 58. The primary objective of the first phase of the appraisal drilling program is to deliver a fast-track, black oil development. ...

Shell starts $2 billion share buyback in bid to win back investors

Royal Dutch Shell raised its dividend by almost 40% and said it will buy back $2 billion of shares, continuing an effort to win back investors as stronger oil prices and a buoyant chemicals market lifted earnings. ...

Equinor and TotalEnergies said to exit Venezuelan JV project

French oil company TotalEnergies SE and Norway’s Equinor ASA are exiting a key venture in Venezuela, adding to an exodus of foreign firms in recent years as the country’s energy industry has withered. ...

FET to deliver next-generation ROVs to DOF Subsea

Forum Energy Technologies, Inc. announced that it has secured an order from DOF Subsea to supply two of its improved 200HP Perry XLX-C work-class remotely operated vehicles. ...

Fueling a low carbon future with methanol as a marine fuel

The maritime industry faces challenges in adopting new technologies and operational practices to reduce emissions of carbon and other greenhouse gases. Panos Koutsourakis, ABS Director of Sustainability Strategy, Singapore, explains why methanol as a marine fuel is one of the near-term solutions. ...

U.S. Interior secretary accused of defying federal judge’s oil lease ruling

Six weeks after a federal judge ordered the Biden administration to resume selling oil and gas leases on federal land, there’s no sign it has and Interior Secretary Deb Haaland struggled Tuesday to explain why. ...

ExxonMobil tallies another significant oil discovery offshore Guyana

ExxonMobil reported a significant discovery at Whiptail in the Stabroek Block offshore Guyana. The Whiptail-1 well encountered 246 feet (75 meters) of net pay in high quality, oil-bearing sandstone reservoirs. ...

Oceaneering and DDK Positioning sign service agreement enhancing C-Nav Positioning Solutions’ offerings

Oceaneering International and DDK Positioning Limited have entered into an agreement for the provision of GNSS augmentation service and all associated software and hardware supporting Oceaneering’s C-Nav Positioning Solutions group offerings. ...

Proserv lands key manufacturing order from BOC in Iraq

Proserv Controls has secured a significant contract to manufacture and deliver 22 wellhead control panels to the Basra Oil Company for use on the Majnoon Oil Field in southern Iraq. ...

Halliburton launches low cost, direct fracture monitoring service

Halliburton Company introduced ExpressFiber, a single-use fiber optic cable that offers accurate, direct subsurface measurements, including cross-well communication, at a price point that enables fracture monitoring on every well pad. ...

UK regulator advances lease process for two 100 MW floating wind sites in the Celtic Sea

British Isles seabed regulator The Crown Estate has confirmed an intention to move forward with the lease process for two 100MW floating wind test and demonstration sites in the Celtic Sea to Llŷr Floating Wind Limited. ...

Corva and NexTier partner to improve ESG and innovation delivery via remote completions management

By leveraging the combined strengths of their digital oilfield solutions, the partnership provides a single, unified solution to accelerate innovation and optimize every completions operation. ...

Eni grows its European wind and solar presence in clean energy push

The transactions are the latest evidence that major oil companies are coming out of the Covid-19 downturn with the intention of channeling extra investment into renewable energy. Eni, like its European peers, has pledged to achieve net-zero carbon emissions by the middle of this century. ...

Shell commits to Whale development in deepwater Gulf of Mexico

The Whale development, owned by Shell Offshore Inc. and Chevron U.S.A. Inc., is expected to reach peak production of approximately 100,000 barrels of oil equivalent per day and currently has an estimated, recoverable resource volume of 490 million barrels of oil equivalent. ...

Reveal Energy Services enhances ORCHID with distributed acoustic sensing interpretation tools

The platform now enables operators to integrate DAS data with offset pressure, microseismic, tracers, logs, and geologic information for a 360-degree interpretation of the physics driving well, pad, and unit development performance. ...

Brazil’s offshore revival seeks to double crude output by 2030

Outside of the U.S. and OPEC, Brazil is set to add more crude production through 2026 than any other country. It wants to double crude output by 2030 to become the world’s fifth-largest exporter, and even if it doesn't hit that target, low-cost oil plays have positioned the country well to emerge as one of the world's most important sources for production growth. ...

Oil prices manage a weekly gain as global crude demand holds up

Oil squeezed out its first weekly gain in three on signs that global demand is holding up despite concerns that the renewed spread of the virus could stall the recovery. ...

Iraq greenlights TotalEnergies’ Ratawi natural gas project

Iraq is spending billions of dollars to ramp up gas production and reduce its reliance on imports from Iran, which it uses primarily to power its electricity plants. ...

Natural gas price nears three-year high as summer heat strains supply

Natural gas futures soared to $4 per million British thermal units in the U.S. for the first time since December 2018 as summer heat intensified concerns about tight supplies later this year. ...

Venezuela ignores U.S. sanctions in quest to increase oil output

Venezuela’s state-owned oil company imported a key component needed to achieve its goal of almost tripling crude production, defying U.S. efforts to isolate the Maduro regime’s grip on power. ...

Shell delivers first gas from Barracuda Project

Shell Trinidad and Tobago announced that production has started on Block 5C in the East Coast Marine Area in Trinidad and Tobago. This marks a significant milestone in the delivery of gas both domestically and internationally through Atlantic LNG. ...

B3 Insight launches Oilfield Water ESG Council program

B3 CEO and co-founder Kelly Bennett said "This program is a commitment by B3 and its members to put words to action through collaboration and transparency to create meaningful solutions.” ...

Nord Stream 2 approved as U.S. wins Ukraine support pledge from Germany

Under the agreement, Germany commits to taking action if Russia tries to use energy as a weapon against Ukraine, a decision that may mark a concession from Chancellor Angela Merkel, who had previously balked at making independent moves against the Kremlin over the gas pipeline. ...

Oil prices rally following harsh Monday selloff

Oil jumped the most since mid-April amid broader market gains and after a U.S. government report showed declining fuel and distillate stockpiles during the high-demand summer driving season. ...

U.S. shale drilling will lose pace this year, says Baker Hughes

Shale drilling in North America is going to slow down in the second half of the year from its breakneck pace as explorers cling to promises of austerity, according to Baker Hughes. ...

Norwegian shelf activity bucks Covid trend

The activity level on the Norwegian continental shelf has been high in the first six months of the year – despite the Covid situation. Eight discoveries have been made, production remains high, and many new development projects are on the drawing board. ...

Shell to appeal Dutch court decision mandating faster carbon cuts

Royal Dutch Shell said it will appeal a ruling by a Dutch court which ordered it to cut its carbon emissions by 45% over the next decade. ...

BHP said to seek an exit from its petroleum business

BHP has long said the oil business was one of its strategic pillars, and argued that it will make money for at least another decade. But as the world tries to shift away from fossil fuels, the company wants to avoid getting stuck with assets that become more difficult to sell, according to insiders. ...

U.S. crude oil exports reached record levels in 2020, remain high in 2021

Despite volatility in global oil markets, U.S. crude oil exports reached a record high in 2020, maintaining momentum in 2021 with crude oil exports reaching 3.00 million barrels per day (bpd). ...

Halliburton and Nabors Drilling digitally link well planning with rig operations

Halliburton and Nabors Drilling are working to connect digital well planning from Well Construction 4.0 with onsite execution using the Nabors’ SmartRig system, helping customers increase efficiencies, access well elements and real-time information. ...

Halliburton projects ‘multi-year upcycle’ in oilfield services spending

“The positive activity momentum we see in North America and international markets today, combined with our expectations for future customer demand, gives us conviction for an unfolding multi-year upcycle,” CEO Jeff Miller said. ...

IEA projects record GHG emissions by 2023 without more government spending

Less than 15% of the $2.4 trillion in government spending to support the post-pandemic economic recovery has gone to investments in clean energy, according to the International Energy Agency. ...

Port of Corpus Christi sets new tonnage records in first half of 2021

“As global economies continue to recover from the COVID-19 pandemic, we are seeing strong demand for energy-related products originating in Texas,” said Sean Strawbridge, Chief Executive Officer for the Port of Corpus Christi. ...

Petrofac demonstrates value of digital modifications execution in industry first

Petrofac has collaborated with asset management specialist James Fisher Asset Information Services to eliminate the need for offshore surveys ahead of modification scopes, reducing time and cost. ...

Exxon taps female CFO as first outsider to join inner circle

Exxon Mobil Corp. recruited a company outsider for the first time to join the chief executive officer’s inner circle of managers, a move that comes just weeks after the oil giant suffered a stunning setback at the hands of a tiny activist investor. ...

Biden to issue new cybersecurity rules for energy infrastructure after April hack

The Biden administration is poised to issue new cybersecurity regulations for pipelines and liquefied natural gas facilities in the aftermath of the April hack that temporarily paralyzed the nation’s biggest liquid fuel conduit. ...

Iran restricts access to nuclear data until sanctions are lifted

Iran claims it’s preserving data captured by International Atomic Energy Agency monitoring equipment, but officials won’t give investigators access to it until Iran concludes stalled talks with world powers to lift economic sanctions. ...

Oil prices plunge on coronavirus threats, OPEC’s pledge to add barrels

Brent futures lost as much as 3.7% as OPEC and its allies pledge to increase oil production from August until all halted output is revived. A jump in virus cases from Asia to the U.S. drove down equities, with stocks in Europe hitting a seven-week low. ...

Chevron working to improve performance at world’s largest carbon capture project

While Chevron has sequestered almost 5 million tons of carbon dioxide at its Gorgon liquefied natural gas export plant in Australia thus far, that volume is short of a target to capture an average 80% of emissions in the first five years of the LNG facility’s operation. ...

Iran to open oil export terminal beyond Strait of Hormuz next week

Iran plans to ship a cargo of oil from a port in the Gulf of Oman next week, its first crude export from outside the Persian Gulf and beyond the narrow, crisis-prone Strait of Hormuz. ...

OPEC agrees to boost oil output in August on Saudi-UAE compromise

OPEC's deal will will ease a looming crude supply squeeze and reduce the risk of an inflationary oil price spike by increasing output each month beginning in August. ...

OPEC plans Sunday oil output discussion as UAE standoff ebbs

OPEC and its allies will meet on Sunday, the latest sign that a bitter standoff between Saudi Arabia and the United Arab Emirates has been resolved. ...

OPEC considers Sunday oil output discussion as UAE standoff ebbs

OPEC and its allies are considering holding a meeting on Sunday, delegates said, after the group made significant progress toward resolving a standoff with the United Arab Emirates that had blocked a deal to boost output. ...

Nigeria successfully concludes ten-year legal quest for oil industry reforms

The reforms – first submitted to parliament in 2008 and conceived at the start of the millennium – are intended to remove legal and regulatory uncertainty that has held back progress on numerous deferred oil and gas projects. ...

Forecasters agree more OPEC oil is needed, but just how much is up for debate

The International Energy Agency, the U.S. Energy Information Administration and the Organization of Petroleum Exporting Countries all say that global oil demand will continue to recover through to at least the end of next year. But there is some disagreement on the paths it will take to get there. ...

Greenland ends oil and gas exploration on climate concerns

Greenland's government “has decided to cease issuing new licenses for oil and gas exploration,” it said in a statement. “This step has been taken for the sake of our nature, for the sake of our fisheries, for the sake of our tourism industry, and to focus our business on sustainable potentials.” ...

OPEC forecasts pre-pandemic oil demand will return in 2022

“Looking ahead to 2022, risks and uncertainties loom large and require careful monitoring to ensure the recovery from the Covid-19 pandemic,” OPEC said in its monthly report, which contained the first detailed estimates for next year. ...

Middle East’s global gas processing capacity forecast to grow through 2025

The Middle East is set to lead capacity growth in the global gas processing industry from planned and announced projects between 2021 and 2025 and account for around 37% to the global gas processing capacity growth by 2025, GlobalData projects. ...

Another day of falling oil prices as U.S. gasoline inventory grows

Oil fell for a second day after a surprise jump in U.S. gasoline stockpiles tempered signs that the American market has returned to robust health. ...

Brookfield Infrastructure raises hostile offer for Canada’s Inter Pipeline

Brookfield Infrastructure Partners LP raised its hostile offer for Canada’s Inter Pipeline Ltd. in another push to break up the agreed C$8.3 billion ($6.6 billion) takeover by Pembina Pipeline Corp. ...

Uganda seeks alternate oil import routes to end Kenyan monopoly

Uganda is exploring options to cut reliance on Kenya for petroleum imports by reviving shipments through Tanzania, a move that potentially jeopardizes business for its neighbor’s Mombasa port. ...

U.S. oil demand sets records as industrial recovery surges

While gasoline and diesel demand have returned to pre-pandemic levels, a surge in petroleum use for products such as plastic, asphalt, lubricants and other industrial needs is propelling the recovery. ...

Oil prices hover near two-year high after OPEC+ resolves standoff

Oil fluctuated as Saudi Arabia and the United Arab Emirates were said to resolve the standoff that has prevented OPEC+ from satisfying a growing clamor for extra barrels. ...

UAE settles with OPEC, agrees to Saudi output proposal

The United Arab Emirates has resolved its standoff with OPEC+ and reached a compromise deal that will give it a new output quota, said a delegate. ...

Oil prices advance on global supply deficit while demand expands

Oil prices climbed as the International Energy Agency warned of a deepening supply crunch. ...

Kuwait opens first LNG import facility in push for greener electricity

Kuwait has opened its first permanent facility to import liquefied natural gas, as oil-rich Persian Gulf states accelerate efforts to wean their power plants off crude and use cleaner forms of energy. ...

Gardner Denver launches lightweight pump for horizontal directional drilling market

The American-made pump, built with quality and efficiency in mind, features a flow rate of more than 1000 gpm, making it suitable for demanding HDD projects. ...

Shell sees a profitable future for carbon capture and storage as a service

Capturing greenhouse gas emissions and burying them underground is one way the world is hoping to slow global warming. It also could be a money-maker for the oil and gas firms developing the technology. ...

Plains All American and Oryx Midstream form Permian Basin joint venture

The transaction will include all of Oryx’s Permian assets and, with the exception of Plains’ long-haul pipeline systems and certain of its intra-basin terminal assets, the vast majority of Plains’ assets located within the Permian Basin. ...

Vard Electro to deliver first multi-mode battery technology vessel for Canadian oil and gas

Vard Electro has been awarded a contract for an innovative hybrid battery power system with Atlantic Towing to be integrated on their vessel Atlantic Shrike. Atlantic Towing is the first company to implement this multiple mode application of battery technologies on a single vessel in the Canadian offshore oil and gas industry. ...

ABB’s new digital solution helps optimize ship performance across fleets

ABB’s new online platform Ability Marine Fleet Intelligence – Advisory combines the power of cloud-based analytics and reporting with user-friendly visualizations to help shipowners, managers and charterers optimize ship performance fleet-wide. ...

Expect tight oil supplies in August as key OPEC output deadline nears

One week after OPEC and its allies abandoned their meeting in acrimony, the window for an August oil-production increase is closing without any deal in sight. ...

Oil prices slide as Covid delta variant clouds demand outlook

Oil edged lower as traders grappled with the demand implications of a Covid-19 resurgence in several regions and slowing economic growth in China. ...

Penn Virginia to expand Eagle Ford presence with $370MM Lonestar Resources deal

Penn Virginia Corporation and Lonestar Resources US Inc. have entered into a definitive merger agreement under which Penn Virginia will acquire Lonestar in an all-stock transaction. ...

Chevron taps Israel Shipyards to maintain onshore, offshore natural gas facilities in Israel

Israel Shipyards Ltd. announced its agreement with Chevron (Noble Energy Mediterranean Ltd.) for performance of a 16-month coating program for its Offshore and Onshore assets. ...

Seneca Resources, NexTier to develop comprehensive emissions testing for well completions work

This carbon emissions assessment is expected to be the most comprehensive testing of real-time well stimulation operations performed within the industry to date, with independent third-party testing to be performed for each of these technologies during Seneca’s field operations. ...

Biden continues his anti-U.S. oil and gas push while crude demand rises

The Biden administration is preparing to release a blueprint for limiting sales of U.S. drilling rights as rising oil and gasoline prices highlight the risks of curtailing domestic crude production. ...

Australia to appeal climate ruling that threatens fossil fuels

Australia will challenge a court ruling that orders the government to consider climate change impacts from a planned coal mine expansion, a decision seen as clouding the prospects for any new fossil fuels projects. ...

Aker Solutions wins subsea production system contract offshore Norway

The scope covers a complete subsea production system including four horizontal subsea trees, three manifolds, control systems, three static subsea umbilicals, as well as associated tie-in equipment and installation work. ...

Oil prices climb as U.S. reports rapidly declining crude stockpiles

Oil rebounded after a U.S. government report showed rapidly declining inventories and record-high fuel demand in the midst of the peak summer travel season. ...

Oil prices at multi-year highs still aren’t enough to balance Bahrain’s ledgers

Bahrain needs crude prices above $88 a barrel to balance its budget this year, according to the International Monetary Fund, the highest breakeven price in the six-member Gulf Cooperation Council and far above current levels around $75. ...

Energy transition may hit Russia in the pocketbook, warns finance minister

Russian Finance Minister Anton Siluanov warned the Kremlin needs to brace for falling revenues after a stress test showed the global clean energy push could lead to a significant decline in demand for fossil fuel exports. ...

Net-zero emissions from oil sands to cost $60B, say Cenovus, Suncor CEOs

To achieve the goal announced last month, about half of the emission cuts would need to come from capturing carbon at oil sands sites and sequestering it deep underground, which may require as much as two-thirds government capital like in Norway, Mark Little, chief executive office of Suncor Energy Inc., said in an interview. ...

Higher oil prices will have limited effect on U.S. crude output, EIA projects

Oil companies will produce 20,000 barrels a day more than previously forecast for this year, at 11.1 million barrels, the Energy Information Administration said in a report on July 7th. ...

Saudi Aramco looks to raise billions with more asset sales

The state-controlled firm created a new team to review its assets last year, soon after the coronavirus pandemic triggered a plunge in energy prices and strained its balance sheet. Aramco raised $12.4 billion by selling leasing rights over oil pipelines to a U.S.-led group of investors in April. ...

Texas’ governor seeks incentives to expand fossil fuel and nuclear power capacity

Texas Governor Greg Abbott is pushing regulators to strengthen incentives for fossil fuel and nuclear power generators in an effort to avoid a repeat of deadly blackouts seen this winter. ...

Biden’s team works the OPEC phones to secure “reliable energy” from non-U.S. producers

Biden administration officials are “encouraged” by ongoing OPEC talks and have spoken with officials in Saudi Arabia and the United Arab Emirates in hopes of reaching an agreement to stem the rise in crude prices, White House Press Secretary Jen Psaki said. ...

Shale operators race to lock in hedges as OPEC pushes oil prices to multi-year highs

Favorable hedge positions represent the biggest test yet of shale’s newfound resolve to act with discipline and focus on investor returns, and avoid a return to the relentless pursuit of growth. ...

OPEC’s non-decision raises specter of oil markets awash in excess supply

Rally-to-rout oil price gyrations show how the cartel’s internal rifts threaten the stability of the global economic recovery amid concerns about inflation, and tarnished the group’s self-image as a reliable steward of the oil market. ...

Reveal Energy Services to commercialize ConocoPhillips’ hydraulic frac pressure diagnostic tech

Reveal Energy Services has entered into a technology licensing and development agreement to commercialize ConocoPhillips’ patented poroelastic response measurement [PRM] technology, and the companies will perform joint research and development in the PRM technology space. ...

Patterson-UTI Energy to acquire Pioneer Energy Services in $295MM deal

Patterson-UTI Energy Inc. has entered into an agreement to acquire Pioneer Energy Services Corp. for approximately $295 million, which includes the retirement of all Pioneer Energy Services’ debt. ...

Drill baby drill? Biden administration wants more OPEC oil

The Biden administration is urging OPEC and its allies to find a compromise solution to increase oil production, according to White House officials familiar with the discussions. ...

Oil prices hit 2014 records as OPEC plunges deeper into crisis

Oil jumped to the highest in more than six years after a bitter fight between Saudi Arabia and the United Arab Emirates plunged OPEC+ into crisis and blocked a supply increase. ...

Mexico snubs Talos Energy, names Pemex sole operator of Zama field

The resolution ends a long-standing conflict between Pemex and Houston-based Talos over the field, which contains as many as one billion barrels of oil equivalent. ...

Mexico nationalizes Zama field, names Pemex as sole operator

The resolution ends a long-standing conflict between Pemex and Houston-based Talos over the field, which contains as many as one billion barrels of oil equivalent. ...

Brent crude passes $77 as OPEC fails to reach new oil output deal

The group’s oil ministers were unable to reach a compromise, keeping current production limits in place for August and depriving the market from the extra barrels it needs as demand recovers from the pandemic. ...

OPEC fails to strike new output deal, raising oil prices and pressuring supply

OPEC+ fails to strike a deal, abandoning its planned meeting and leaving the oil market facing much tighter supplies than had been expected. ...

BP, Lukoil seek to sell Iraqi oil asset stakes

BP Plc and Russia’s Lukoil PJSC want to sell down their assets in Iraq, according to the country’s oil minister. ...

Escalating OPEC clash leaves oil prices steady as traders await next move

Oil held steady as tensions between Saudi Arabia and the UAE escalated over the weekend, leaving the market with few clues about how supply talks will proceed on Monday after discussions reached an impasse last week. ...

UAE agrees on OPEC oil production hikes, with deal-breaking conditions

The United Arab Emirates said it won’t accept a plan by other members of OPEC+ to extend the group’s agreement to curb oil production beyond April 2022, unless it’s allowed to have a higher baseline for its own cuts. ...

OPEC’s latest standoff puts the oil cartel’s survival at risk

A high-stakes game of oil diplomacy pits Saudi Arabia against long-time ally Abu Dhabi. And the result of their fight will shape not just the price of oil for the next year, but the future of the global energy industry. ...

Vitol sees OPEC falling short of meeting global oil demand, extending crude’s rally

The world’s largest independent oil trader expects crude’s rally to continue on the assumption any OPEC+ output hikes will fail to keep pace with growth in demand. ...

TC Energy files $15 billion NAFTA claim for canceled Keystone XL pipeline

TC Energy will be seeking to recover more than US$15 billion in damages that it has suffered as a result of the U.S. Government’s breach of its North American Free Trade Agreement (NAFTA) obligations, the company said in a statement. ...

Nigeria passes bill to improve investing environment via new regulatory framework

By ensuring an enabling environment for investors backed by a transparent and strengthened regulatory framework, the Petroleum Industry Bill will present significant investment opportunities for both regional and international stakeholders. ...

OPEC infighting threatens a higher crude output deal

A preliminary deal struck on Thursday to increase oil production by 400,000 barrels per day was thrown into chaos when the United Arab Emirates threatened to block the deal without a higher output quota for itself. ...

South Sudan faces rapid drop in crude output as blocks pass peak production

South Sudan is experiencing a rapid drop in crude output as producing oil blocks have hit peaks and have begun to decline, according to Ministry of Petroleum Undersecretary Awow Daniel Chuang. ...

Colombia anticipates new offshore oil exploration to reverse crude output decline

Oil majors are gearing up to explore off the coast of Colombia, offering hope to a country struggling to reverse declines in reserves and output of its biggest export. ...

Saudis, Russia tentatively agree on gradual OPEC oil output hike

Saudi Arabia and Russia have a tentative deal to gradually increase OPEC+ oil output in the coming months, delegates said. The proposal under discussion would add about 2 million barrels a day to the cartel’s output from August to December. ...

Equinor brings pioneering Martin Linge oil and gas field online

The Martin Linge field is powered from shore, resulting in low CO2 emissions, and operated from its onshore control room. Expected recoverable resources are approximately 260 million barrels of oil equivalent. ...

U.S. crude inventories depleting at record pace on surging oil demand

Over the last four weeks total stockpiles, including the Strategic Petroleum Reserve, have fallen at a rate of 1.15 million barrels a day, marking the largest four-week decline on a rolling basis in Energy Information Administration Data going back to 1982. ...