Industry News

Oil Drops as Demand Concerns Offset Tightening Supply

6 August 2020, 9:53pm
Signs of tightening supply couldn't overcome the uncertainty surrounding economic recovery in the U.S.
Read more... (source:

Oil Oscillates Between Gains and Losses

6 August 2020, 4:07pm
Oil oscillated between gains and losses as an uncertain economic outlook overshadowed signals of a tighter crude market with Iraq pledging to make extra output cuts this month.
Read more... (source:

OGA: Offshore energy industry can aid UK in reaching net-zero

6 August 2020, 1:50pm

Read more... (source:

Assessing BP's New Goals

6 August 2020, 1:43pm
BP has gone further than any oil company but there are areas of concern.
Read more... (source:

Petrobras reaches record Buzios output in July

6 August 2020, 12:45pm

Read more... (source:

Gasoline and diesel refining margins that diverged in March have moved closer together

6 August 2020, 12:00pm
U.S. gasoline and diesel crack spreads diverged sharply in March and April as a result of the mitigation efforts aimed at slowing the spread of the 2019 novel coronavirus disease (COVID-19), but they have moved closer since May. Crack spreads are the difference between the price of crude oil and the wholesale price of a refined petroleum product, and they are used by industry to estimate refining margins.
Read more... (source:

Aker Offshore Wind sets sights on deep-water projects

6 August 2020, 11:59am

Read more... (source:

Royal IHC to provide mooring and equipment for Anna Nery FPSO

6 August 2020, 11:52am

Read more... (source:

Inpex hit by $1.3 bln Australian LNG assets impairment

6 August 2020, 11:52am

Read more... (source:

Siemens Wins Saudi Aramco Compressor Order

6 August 2020, 10:14am
Samsung Engineering has awarded Siemens Energy an order tied to a Saudi Aramco gas storage project. PHOTO SOURCE: Siemens
Read more... (source:

Trump inks law to fund infrastructure maintenance with offshore oil and gas royalties

6 August 2020, 9:30am

Read more... (source:

Canada Oil Sands Output Poised for 41 Percent Increase

6 August 2020, 9:24am
IHS Markit anticipates that Canada's oil sands production will grow by nearly 1.1 million bpd.
Read more... (source:

Offshore Scarecrow Could Make Helidecks Safer

6 August 2020, 9:20am
Say hello to Scaretech. PHOTO SOURCE: Scaretech
Read more... (source:

Exxon Says 20 Percent of Reserves Threatened

6 August 2020, 9:10am
Exxon Mobil Corp. warned that low energy prices may wipe as much as one-fifth of its oil and natural gas reserves off the books.
Read more... (source:

Offshore rigs could be ‘stepping stones’ for non-native species

6 August 2020, 8:59am

Read more... (source:

CGG Sells Multi-Physics Business

6 August 2020, 8:50am
CGG has entered into a sale and purchase agreement with Xcalibur Group for the sale of its multi-physics business.
Read more... (source:

Somalia to announce winners of first licensing round in early 2021

6 August 2020, 8:23am

Read more... (source:

OGUK and SDS Support Redundant Workers

6 August 2020, 7:50am
Industry body Oil & Gas UK has partnered with Skills Development Scotland to signpost support for oil and gas workers impacted by redundancy.
Read more... (source:

NOPSEMA OKs Shell Crux Proposal

6 August 2020, 7:08am
NOPSEMA has accepted an Offshore Project Proposal from Shell Australia to develop the Crux gas field in the Browse Basin.
Read more... (source:

Oil Up with US Stockpiles Shrinking

6 August 2020, 7:01am
Oil extended gains after closing near a five-month high in New York on Wednesday.
Read more... (source:

What Do Oil Groups Think of Biden Energy Plan?

6 August 2020, 6:48am
2020 president hopeful Joe Biden unveiled his clean energy plan in July.
Read more... (source:

Court Ruling Buys Time for Dakota Access

5 August 2020, 8:26pm
The Dakota Access oil pipeline again staved off what would have been an unprecedented shutdown.
Read more... (source:

Oil Prices Settle Higher Amid Fuel Supply Build

5 August 2020, 7:47pm
A government report showed a decline in US crude inventories yet an increase in refined product supplies.
Read more... (source:

OPEC+ Losing Patience with Iraq

5 August 2020, 6:01pm
Iraq has come under pressure from Saudi Arabia after failing to meet its production curbs target.
Read more... (source:

Supermajor Era Ends for BP

5 August 2020, 5:23pm
BP's CEO declared Tuesday the company would be a supermajor no more.
Read more... (source:

Climate Hawks Press Biden to Take More Radical Stance

5 August 2020, 2:25pm
If climate activists succeed in pulling him to the left it could cost him mainstream support.
Read more... (source:

Biden Faces Union Pressure over Keystone XL

5 August 2020, 2:04pm
Joe Biden has threatened to rip up Keystone XL permits even as he courts blue-collar workers.
Read more... (source:

Delek offers $2.25B in bonds to finance Leviathan development

5 August 2020, 1:50pm

Read more... (source:

NOPSEMA approves Shell’s Crux gas field OPP

5 August 2020, 12:41pm

Read more... (source:

More than 100 coal-fired plants have been replaced or converted to natural gas since 2011

5 August 2020, 12:00pm
According to data from the U.S. Energy Information Administration (EIA), 121 U.S. coal-fired power plants were repurposed to burn other types of fuels between 2011 and 2019, 103 of which were converted to or replaced by natural gas-fired plants. At the end of 2010, 316.8 gigawatts (GW) of coal-fired capacity existed in the United States, but by the end of 2019, 49.2 GW of that amount was retired, 14.3 GW had the boiler converted to burn natural gas, and 15.3 GW was replaced with natural gas combined cycle. The decision for plants to switch from coal to natural gas was driven by stricter emission standards, low natural gas prices, and more efficient new natural gas turbine technology.
Read more... (source:

Brent Tops $45

5 August 2020, 11:09am
Oil climbed to a five-month high in London.
Read more... (source:

Gulf of Mexico Operator Files Chapter 11

5 August 2020, 11:01am
Fieldwood Energy has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code.
Read more... (source:

U.S. crude oil production in May has a record monthly decrease

4 August 2020, 12:00pm
Production of crude oil decreased in the United States in May 2020 by 1.99 million barrels per day (b/d), the largest monthly decrease since at least January 1980, according to the U.S. Energy Information Administration's (EIA) Monthly Crude Oil and Natural Gas Production Report. This decrease surpassed the previous record drop in September 2008 when Hurricanes Gustav and Ike caused production to fall by 1.03 million b/d. May marks the sixth consecutive monthly decrease in crude oil production and is the third month since the March 2020 declaration of a national emergency concerning the coronavirus disease (COVID-19) outbreak.
Read more... (source:

Illinois is a top energy consumer and producer in the Midwest

3 August 2020, 1:00pm
According to the U.S. Energy Information Administration's (EIA) State Energy Data System (SEDS), Illinois had the highest energy consumption in the Midwest and was the third-highest energy producer of any state in the region. In 2018, customers in Illinois consumed 4.0 quadrillion British thermal units (Btu) of energy, and 2.6 quadrillion Btu was produced in the state. Total energy production and consumption in Illinois each accounted for nearly 17% of the Midwest's total.
Read more... (source:

U.S. homes and businesses receive natural gas mostly from local distribution companies

31 July 2020, 1:00pm
According to the U.S. Energy Information Administration's (EIA) Natural Gas Annual Respondent Query System, 2,022 natural gas delivery companies delivered natural gas to end-use customers in the United States in 2018. A delivery company is defined as any entity that delivers natural gas directly to end users. In 2018, local distribution companies (LDCs) primarily served homes and businesses, delivering approximately 90%, or 22 billion cubic feet per day (Bcf/d), of end-use natural gas to the residential and commercial sectors. Pipeline companies deliver the highest volume of natural gas to end-use consumers in the United States, predominately to electric power and industrial customers. Natural gas distributers operated by municipalities, referred to here as municipal companies, are the most common type of natural gas distributor in the United States, but they deliver relatively small volumes of end-use natural gas.
Read more... (source:

*Please note: CGEF is not affiliated with any of the included websites or news organizations. Links are provided for convenience only.