Exploration
News
September 10, 2020
Turkey is in talks over oil and gas exploration in Libya, as President Recep Tayyip Erdogan’s administration seeks business opportunities in the conflict-ridden North African country.
News
September 09, 2020
The monthly Oilfield Services and Equipment Employment Report, compiled and published by the Petroleum Equipment & Services Association, shows total job losses due to pandemic-related demand destruction reached 103,420 in August. OFS employment is down more than 121,000 jobs since August 2019 and is at its lowest point since March 2017.
News
September 08, 2020
President Donald Trump endorsed an extended ban on offshore oil development on Florida’s western coast as he courts voters worried that drilling imperils the state’s beaches and tourism-based economy.
News
September 08, 2020
Hess Corporation announced another oil discovery offshore Guyana at the Redtail-1 well, the 18th discovery on the Stabroek Block, which will add to the previously announced gross discovered recoverable resource estimate for the block of more than 8 billion barrels of oil equivalent.
News
September 04, 2020
The leading representative body for the UK’s offshore oil and gas industry has embraced a UK government review into future licensing rounds as an opportunity to shine a light on how the sector is changing to support the country’s climate ambitions while still ensuring it contributes to the UK’s ongoing security of energy supply.
News
August 28, 2020
Saudi Aramco discovered two oil and gas fields in northern parts of Saudi Arabia, the kingdom’s official news agency reported, citing Energy Minister Prince Abdulaziz bin Salman.
News
August 21, 2020
“Turkey is a premium gas market, which has never been significant on a global scale. The discovery really reinforces the country’s potential role as an energy producer in the region,” said Ashley Sherman, principal analyst on Caspian and Europe upstream at Wood Mackenzie.
News
August 21, 2020
Turkey bought three drilling ships in recent years as it dramatically expanded energy exploration in the Black Sea and contested waters of the eastern Mediterranean. It’s keen to find sizable energy reserves to ease its heavy reliance on imports from Iran, Iraq and Russia, and support one of the biggest economies in the Middle East.
News
August 20, 2020
With the first of two party conventions underway this week, API Pennsylvania released new polling conducted by Morning Consult showing voters value American energy security and affordability and believe it is important for the U.S. not to rely on foreign energy sources.
News
August 19, 2020
Firms including Transocean, Seadrill and Pacific Drilling are exploring strategic options as they seek to stave off default, leaving more than $30 billion of debt at risk. The industry’s turmoil has sparked the biggest wave of restructurings since 2017, when the effects of the last oil price downturn reverberated through the industry.
News
August 18, 2020
Ankara resumed its search of the contested waters last week after German-mediated negotiations with Greece collapsed when Athens announced a maritime delimitation agreement with Egypt on Aug. 6 in retaliation to a similar deal between Turkey and Libya.
News
August 18, 2020
While any production would likely be years away, the California-based oil major is looking to use this year’s crude price crash to gain access to quality reserves cheaply, while European rivals are focusing on a transition to low-carbon energy sources and Exxon Mobil Corp. is reining in spending.
News
August 17, 2020
“Today’s announcement brings us one step closer to unlocking Alaska’s energy potential, which will create good-paying jobs and provide a new revenue stream for the state,” API senior vice president of policy, economics and regulatory affairs Frank Macchiarola said.
News
August 17, 2020
The Trump administration on Monday authorized a sweeping plan to sell drilling rights and spur oil development in Alaska’s rugged Arctic refuge, setting up a possible auction by the end of 2020 and a political clash if the president loses the November election.
News
August 14, 2020
As forecasts show no near-term end in sight for depressed oil demand, operators are making dramatic adjustments to meet the new oil and gas industry reality.
News
August 14, 2020
As the coronavirus ravages economies and cripples demand, European oil majors have made some uncomfortable admissions in recent months: oil and gas worth billions of dollars might never be pumped out of the ground.
News
August 12, 2020
Less than two hours after Kamala Harris was named Joe Biden’s running mate, President Donald Trump had cast the California Democrat as an oil industry and fracing foe.
News
August 07, 2020
Turkish President Recep Tayyip Erdogan on Friday announced the decision to dispatch a seismic research vessel, after Greece signed a deal with Egypt to draw maritime boundaries between the two countries.
News
August 05, 2020
The pandemic and subsequent plunge in crude prices has forced U.S. crude explorers to scrap plans to expand supplies amid investor skepticism toward the shale business model. For some of the biggest names, that’s meant vowing restraint as long as oil lingers at levels too low to support a new boom.
News
August 04, 2020
Neptune Energy and its partners today announced the commercial discovery of oil at the Dugong well (PL882) in the Norwegian sector of the North Sea, the largest discovery in Norway so far this year.
News
August 03, 2020
As recently as March, the Texas giant had pinned its future to huge capital spending on oil and natural gas at a time when peers were exploring ways to decarbonize. Exxon CEO Darren Woods’ plan was to lean on the company’s impeccable balance sheet to drill for gushers and still cover almost $15 billion in annual dividends.
