Industry News

Advance Toward $50 Oil Could Be Tricky for OPEC+

25 November 2020, 2:56pm
With OPEC+ just days from meeting, countries favoring ratcheting up oil production may be finding some support for their arguments.
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Texas Upstream Job Count Rises Again

25 November 2020, 1:31pm
Texas' upstream oil and gas sector added jobs for the second month in a row in October, TXOGA reported Tuesday.
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Snam Sets Ambitious Zero Emissions Goal

25 November 2020, 1:14pm
Italian gas pipeline operator Snam SpA set an ambitious net zero-emissions target for 2040 and raised guidance as it continues to invest in green energy and joint hydrogen projects.
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KBR Wins Gulf Coast LNG Project

25 November 2020, 1:04pm
Venture Global LNG has awarded the EPC contract for Phase 1 of its Plaquemines LNG export project, a rendering of which appears above. IMAGE SOURCE: Venture Global LNG
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Oil Price Comeback Seems Unstoppable

25 November 2020, 12:59pm
The oil price comeback seems unstoppable since news of positive vaccine trials arrived.
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Saipem hired for FEED services on Ichthys LNG

25 November 2020, 12:57pm

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OGA Launches Centralized Decom Data Location

25 November 2020, 12:38pm
The UK Oil and Gas Authority has launched one centralized location for well data related to decommissioning.
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Pre-Thanksgiving gasoline prices at lowest level since 2015

25 November 2020, 12:00pm
The average U.S. regular retail gasoline price (the price that consumers pay at the pump) during the week before Thanksgiving this year was $2.10 per gallon (gal), the lowest average retail gasoline price for the Monday before Thanksgiving since 2015, according to the U.S. Energy Information Administration's (EIA) Gasoline and Diesel Fuel Update.
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IEF Condemns Jeddah Attack

25 November 2020, 10:57am
The International Energy Forum has condemned the attack on a fuel tank facility in Jeddah, Saudi Arabia.
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UK Oil Sector Business Confidence Slashed

25 November 2020, 10:33am
Business confidence across the UK's oil and gas sector has been slashed, according to Aberdeen & Grampian Chamber of Commerce's 32nd oil and gas survey.
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Oil Keeps Going Up on Demand Optimism

25 November 2020, 9:38am
Oil kept rising after closing at an eight-month high on increasing optimism that recent Covid-19 vaccine breakthroughs will lead to a swift recovery in global energy demand next year.
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KrisEnergy unit dodges winding-up petition after settlement with Rubicon

25 November 2020, 9:19am

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Apache employs Rem PSVs in North Sea

25 November 2020, 9:03am

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Tullow plans to generate $7 billion cash flow over 10 years with focus on West African assets

25 November 2020, 8:42am

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North Sea reservoir confirmed suitable for CO2 storage

25 November 2020, 8:10am

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Neptune Energy elects new MD for Egypt

25 November 2020, 7:04am

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Light Crude Crosses $45 Mark

24 November 2020, 8:33pm
Oil reclaimed heights not seen since the pandemic pummeled prices in the spring.
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Angola to Sell Stake in National Oil Company

24 November 2020, 8:00pm
The sale is part of a push by Africa's second-biggest oil producer to raise cash and jump-start a moribund economy.
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Oil Futures Curve Signals Tighter Market

24 November 2020, 4:46pm
The oil futures curve, an important gauge of trader bullishness, has strengthened to levels last seen in the early days of the pandemic.
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Total Awards Suriname Drilling Contract

24 November 2020, 4:03pm
Maersk Drilling anticipates a firm total of $100 million from the two-rig contract. PHOTO SOURCE: Maersk Drilling
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Biden’s energy transition might not run so smoothly after all

24 November 2020, 3:38pm

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Phillips 66 Quadruples Capacity at Texas NGL Hub

24 November 2020, 2:35pm
Phillips 66's Sweeny Hub, above, now boasts 400,000 bpd of NGL fractionation capacity. PHOTO SOURCE: BusinessWire
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Risk and barrier management issues found on Equinor FPSO

24 November 2020, 1:56pm

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Odfjell Drilling Signs Equinor Contracts for At Least 27 Wells

24 November 2020, 1:28pm
Odfjell Drilling has signed final rig contracts for a pair of previously announced Equinor drilling campaigns.
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Unplanned outage to push EnQuest output below guidance

24 November 2020, 1:05pm

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Beach taps DOF Subsea for Otway work

24 November 2020, 12:33pm

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EIA updates geological maps of Midland Basin's Wolfcamp formation

24 November 2020, 12:00pm
The U.S. Energy Information Administration (EIA) has released new structure and thickness maps for the Wolfcamp play in the Midland Basin, which is a part of the larger Permian Basin in western Texas and southeastern New Mexico. The Wolfcamp formation has attracted many oil companies because of its stacked potential (that is, multiple hydrocarbon-producing zones on top of one another).
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Neptune Appoints New Egypt MD

24 November 2020, 11:44am
Neptune Energy announced Tuesday that Mohamed Mounes Shahat will join the company in December as its new Egypt Managing Director, based in Cairo.
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TXRRC Commissioner Becomes IOGCC Vice Chairman

24 November 2020, 11:40am
Texas Railroad Commissioner Wayne Christian has been selected to be the Vice Chairman of the Interstate Oil and Gas Compact Commission.
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Noble Shares Reorganization Update

24 November 2020, 11:32am
Noble Holding Corporation plc (OTC-PINK: NEBLQ) announced Monday that the United States Bankruptcy Court for the Southern District of Texas has issued an order approving the company's joint plan of reorganization.
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Aramco Says No One Hurt in Blast

24 November 2020, 11:04am
Saudi Aramco needed about 40 minutes to put out the fire caused by a missile strike on a fuel depot in the Red Sea city of Jeddah.
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Oil Prices Start Week on a Positive Note

24 November 2020, 10:51am
Oil prices started the week on a positive note, capitalizing on recent Covid-19 vaccine news.
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New York generated the fourth most electricity from renewable sources of any state in 2019

23 November 2020, 12:00pm
In 2019, more electricity was generated from renewable sources in New York than in all but three states, according to the U.S. Energy Information Administration's (EIA) Electric Power Monthly. New York's 39.4 million megawatthours (MWh) of renewable electricity generation was more than any other state east of the Mississippi River and accounted for 30% of the state's total electricity generation in 2019.
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Off-grid solar generation could affect how Africa uses coal, natural gas for electricity

20 November 2020, 1:00pm
In the International Energy Outlook 2020 (IEO2020), the U.S. Energy Information Administration (EIA) projects electricity generation in Africa using two cases with different assumptions about how future electricity needs are fulfilled. In the Maximum Grid Expansion case, in which a centralized grid is developed to meet electricity demand throughout the continent, EIA projects that solar photovoltaic generators will meet 13% of Africa's electricity generation in 2050. In this case, EIA's projections do not include off-grid, stand-alone generators. In contrast, in the Maximum Off-Grid case, where demand growth in the southern half of the continent (Africa-South) is met by off-grid resources, solar energy—from both grid-connected and off-grid systems—will provide 21% of continent-wide electricity generation in 2050.
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About 25% of U.S. power plants can start up within an hour

19 November 2020, 1:00pm
About 25% of U.S. power plants can start up�going from being shut down to fully operating�within one hour, based on data collected in EIA's annual survey of electric generators. Some power plants, especially those powered by coal and nuclear fuel, require more than half a day to reach full operations. The time it takes a power plant to reach full operations can affect the reliability and operations of the electric grid.
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