Industry News

Oil Climbs to Four Month High

18 March 2024, 8:07pm
Oil climbed to a four-month high as Ukrainian drone attacks on Russian refineries heightened geopolitical risks and key Chinese economic data beat estimates.
Read more... (source: www.rigzone.com)


DEME Hires KENC for Multiple Offshore Wind Projects

18 March 2024, 5:30pm
KENC's work will encompass engineering and fabrication of seafastening and auxiliary structures for DEME offshore wind farms.
Read more... (source: www.rigzone.com)


North America Enters Rig Loss Streak

18 March 2024, 4:07pm
North America dropped rigs again week on week, according to Baker Hughes.
Read more... (source: www.rigzone.com)


Shell Plans to Divest 1K Retail Sites in Shift to EV Charging

18 March 2024, 2:00pm
Shell plans to divest 500 retail sites annually over the next two years.
Read more... (source: www.rigzone.com)


KBR to Provide Project Management for New Angolan Refinery

18 March 2024, 2:00pm
The Lobito Refinery Project is one of the most significant energy infrastructure projects in the region.
Read more... (source: www.rigzone.com)


U.S. crude oil exports reached a record in 2023

18 March 2024, 1:00pm
U.S. crude oil exports established a record in 2023, averaging 4.1 million barrels per day (b/d), 13% (482,000 b/d) more than the previous annual record set in 2022. Except for 2021, U.S. crude oil exports have increased every year since 2015, when the U.S. ban on most crude oil exports was lifted.
Read more... (source: www.eia.gov)


USA Driving Activity to Increase to All-Time Highs

18 March 2024, 12:38pm
The EIA projects that driving activity will increase to all-time highs in the U.S. during 2024 and 2025.
Read more... (source: www.rigzone.com)


TC Energy to Sell Prince Rupert Gas Pipeline Project to First Nation

18 March 2024, 12:00pm
PRGT is a wholly owned subsidiary of TC Energy and the developer of a natural gas pipeline project in British Columbia.
Read more... (source: www.rigzone.com)


Oil Market Sentiment Has Improved Significantly

18 March 2024, 10:00am
'Brent oil prices have risen to a four-month high'.
Read more... (source: www.rigzone.com)


I Squared Eyes Full Ownership of Europe Gas Storage Firm

18 March 2024, 10:00am
Rubis Terminal is one of the leading players in Europe in the bulk liquid and gas storage sector with 141.26 million cubic feet (4 million cubic meters) of storage capacity.
Read more... (source: www.rigzone.com)


BP Pulse Buys One of Europe's Largest Truck Stops

18 March 2024, 8:23am
BP Pulse acquired the Ashford International Truckstop in Kent.
Read more... (source: www.rigzone.com)


EU Electricity Export to Ukraine Up 94 Percent in Two Years

18 March 2024, 8:12am
The amount of electricity sent by EU countries to Ukraine rose from 415 million kWh in 2021 to 935 million kWh in 2023.
Read more... (source: www.rigzone.com)


China Coal Output Falls for First Time since Government Ordered More

18 March 2024, 8:07am
The decline adds to signs that Beijing's long campaign to bolster energy security by digging more of coal may have reached its apex.
Read more... (source: www.rigzone.com)


EU, US Eye Collaboration on Nuclear Materials

18 March 2024, 8:02am
The EU and US intend to forge cooperation to curb the globe's reliance on Russia in the nuclear energy supply chain.
Read more... (source: www.rigzone.com)


UK CCUS Plans Outdated: Think Tank

18 March 2024, 8:00am
The UK government's CCUS strategy is based on optimistic assumptions that are 'outdated and unrealistic' and could risk locking consumers into a 'high-cost, fossil-based future'.
Read more... (source: www.rigzone.com)


ExxonMobil Racks Up Discoveries in Guyana Block Eyed by Chevron

18 March 2024, 7:55am
ExxonMobil announced its first discovery in 2024 in Stabroek, solidifying the Guyana asset's position as a key area for the oil and gas giant as it disputes rival Chevron's bid to enter the block.
Read more... (source: www.rigzone.com)


Equinor Set to Have New Director

17 March 2024, 11:00am
Equinor's nomination committee put forward Mikael Karlsson as a new candidate for the company's board of directors.
Read more... (source: www.rigzone.com)


Bahrain Oil Field Wins USA Financing Despite Biden Climate Vow

16 March 2024, 12:00pm
The U.S. Export-Import Bank voted to provide a $500 million loan guarantee for an oil and gas development in Bahrain.
Read more... (source: www.rigzone.com)


Russia Hits Odesa After Ukraine Targets Oil Plant Near Moscow

15 March 2024, 9:00pm
Russia hit the Black Sea port of Odesa on Friday in a deadly missile attack, hours after Ukrainian drones targeted a small petrochemical plant near the Moscow region.
Read more... (source: www.rigzone.com)


Oil Holds Weekly Gains

15 March 2024, 7:54pm
Crude futures pushed through 200-day moving average and then held momentum on the week.
Read more... (source: www.rigzone.com)


Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra

15 March 2024, 7:00pm
The Biden administration released a strategy for the U.S. to build charging and hydrogen fueling infrastructure for freight trucks from 2024 to 2040.
Read more... (source: www.rigzone.com)


Four countries could account for most near-term petroleum liquids supply growth

14 March 2024, 1:00pm
In 2023, the world produced an estimated 101.8 million barrels per day (b/d) of petroleum and other liquids: mostly crude oil but also lease condensate, natural gas liquids, biofuels, and other liquids from hydrocarbon sources. We expect the global petroleum and other liquids supply to increase by about 0.4 million b/d in 2024 and 2.0 million b/d in 2025. This growth will be driven primarily by rising crude oil production from four countries in the Americas�the United States, Guyana, Canada, and Brazil�which would partially offset near-term voluntary production cuts in 2024 that we expect from countries participating in the OPEC+ agreement.
Read more... (source: www.eia.gov)


Winter storms have disrupted U.S. natural gas production

13 March 2024, 1:00pm
Over the last four winters, winter storms Uri (February 2021), Elliott (December 2022), and most recently, Heather (January 2024) interrupted weekly U.S. natural gas production by more than 15 billion cubic feet per day (Bcf/d), according to daily estimates from S&P Global Commodity Insights. These declines were the largest interruptions to U.S. natural gas production during the past four years. Although the impacts of these disruptions appear more muted over the course of a month, winter storms Uri and Elliott still drove declines in monthly average natural gas production of 3 Bcf/d to 7 Bcf/d.
Read more... (source: www.eia.gov)


U.S. propane exports established a new record in December 2023

12 March 2024, 1:00pm
U.S. propane exports averaged a record 1.9 million barrels per day (b/d) in December 2023, the highest since we began collecting this data in 1973 in our Monthly Energy Review. Increased exports resulted from the highest propane price spread between the U.S. Gulf Coast and East Asia in a decade due to petrochemical and space heating demand.
Read more... (source: www.eia.gov)


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