Industry & Analysis

Operators were ordered to come into compliance with Commission rules and assessed $367,026 for any oil and gas, LP-Gas, critical infrastructure, or pipeline safety rule violations.

If Saudi Arabia and allies extend cuts beyond the second quarter, that could send prices even higher, Frederic Lasserre said during the CERAWeek by S&P Global conference in Houston. Cuts beyond the second quarter currently are not planned.

Exxon Mobil Corp. won’t move forward with one of the world’s largest, low-carbon hydrogen projects if the Biden administration withholds tax incentives for natural gas-fed facilities, Chief Executive Officer Darren Woods said during an interview.

Gas demand in the U.S. has jumped 50% since 2010, while pipeline and storage capacity have increased just 25% and 10% respectively, EQT Corp. Chief Executive Officer Toby Rice said during an interview at the CERAWeek by S&P Global energy conference in Houston.

Since its inception in 2005, Optical Gas Imaging (OGI) has been an integral part of emission reduction in the oil and gas industry. Over that time, OGI cameras have been the center of the LDAR and EHS markets as the flagship technology for emissions mitigation. Beginning in 2008 with the Alternate Work Practice and most recently as the BSER for NSPS OOOOb and Appendix K of the March 6, 2024, U.S. EPA regulation, OGI technology has proven to be an efficient and effective means of regulatory compliance while also empowering oil and gas operators to increase safety and enhance productivity. The newest in OGI cameras have advanced features that help users meet these stringent regulatory requirements and increase LDAR inspection efficacy. In this webinar, FLIR Global Business Development Manager, Craig O’Neill will discuss how the NSPS OOOOb elevates the use of Optical Gas Imaging for leak detection. Who Should Attend: Air Quality Professionals, Compliance Officers, Directors of Compliance, EHS Professionals, Environmental Professionals, Fugitive Emissions Professionals, HSE Professionals, LDAR Professionals, Maintenance Managers, OGI Technicians, Operations Managers, Platform Managers, Reliability Professionals.

“Texas state leadership continues to land blows to BlackRock and woke financial corporations pushing a pro-ESG/anti-fossil fuel agenda!” said Commissioner Wayne Christian.

CERAWeek by S&P Global kicked off on March 18th, hosted by the Hilton Americas hotel in Houston, Texas for the 2024 session. One of the opening Leadership Dialogues featured President and CEO Amin H. Nasser, of Saudi Aramco, who began by addressing the current demand for “energy that helps protect the planet” while also being cheap and readily available.

CEO John Hess encouraged the U.S. to refill its oil reserves faster than the 3 MMbbl per month rate the White House is currently buying. The government is “asleep at the wheel,” as Hess put it, putting America’s energy leadership and security in jeopardy.

Lance predicted that first production from its Willow development will occur in “four more winters.” The CEO applauded the project as an important boost for Alaska’s economy, creating many jobs and enhancing the U.S.’ energy security.

Day 2 of CERAWeek by S&P Global kicked off in Houston, Texas, with a discussion between Dan Yergin, Vice Chairman of S&P Global, and Mike Wirth, CEO of Chevron. The two touched on several oil and gas industry hot topics, including artificial intelligence, Biden’s LNG ban, Chevron’s dispute with ExxonMobil regarding its stake in the oil-rich Stabroek block offshore Guyana, and more.

The report, conducted by Energy Ventures Analysis, demonstrates the American natural gas industry’s record of supporting allies abroad while maintaining a well-supplied domestic market at home.

This week, the U.S. House of Representatives will pass judgement on six energy-related bills in what Republicans are calling “Energy Week.” Trade groups including the National Ocean Industries Association (NOIA) and the American Petroleum Institute (API) released statements applauding the focus on pressing energy issues.

Despite a 22% decrease, the industry managed to maintain momentum in contract value, primarily fueled by contracts for major projects such as North Field South LNG, Golden Pass LNG, Hail and Ghasha field, Agogo FPSO, and the expansion of the Amiral petrochemicals facility, amidst challenging market conditions.

Saudi Aramco Chief Executive Officer Amin Nasser said the global energy transition is “visibly failing” on most fronts as proponents overlook the impacts on consumers dependent on cheap, reliable fuels.

The House Committee on Oversight and Accountability is seeking documents and communications between the Energy Department and key federal agencies as well as White House aides John Podesta and Ali Zaidi, arguing the move was an attempt to appease liberal advocacy groups opposed to LNG exports ahead of the November presidential election.

“If we were interested in doing something with Hess, we wouldn’t have waited for Chevron” to sign its deal, Exxon Chief Executive Officer Darren Woods told the CERAWeek by S&P Global conference Monday.

More than 7,000 people are headed to Houston next week to attend CERAWeek by S&P Global with a key question in mind: How to meet increasing demand for power amid the transition to clean energy. Daniel Yergin, vice chairman of S&P Global, offers a window into that future.

Up to 30 upstream projects larger than 50 MMboe could reach FID in 2024, an increase from 22 in 2023, according to a new report from Wood Mackenzie.

Underscoring this shift back to its core fuel business, the company introduced a new target to reduce customer emissions from the use of its oil and gas products by 15% to 20% by 2030, compared with 2021 levels.

If all methane pledges made by countries and companies to date are implemented in full and on time, it would be sufficient to cut methane emissions from fossil fuels by 50% by 2030, the IEA’s new analysis finds.

"The changes in President Biden’s proposed budget to oil and natural gas industry tax provisions are a direct attack on America’s smaller independent producers who develop most of the nation’s natural gas and oil wells, and particularly the small marginal operators," said IPAA President and CEO Jeff Eshelman.