Industry & Analysis
News
March 06, 2024
The windfall tax has been heavily criticized by the North Sea oil and gas producers for disproportionately impacting smaller companies. While Russia’s war in Ukraine help push up profits for energy giants such as bp Plc and Shell Plc, the bulk of those earnings come from operations outside of the UK and therefore aren’t taxed in Britain.
News
March 05, 2024
Additionally, Talos has appointed QuarterNorth's designee, Joseph A. Mills, to the Talos Board of Directors. Talos plans to update its 2024 operational and financial guidance to reflect the acquisition closing timing in the coming days.
Article
February 2024
Wildcat wells netting smaller discoveries
Article
February 2024
Saudi Arabia suspends oil expansion as neighboring producers plan to raise output
Article
February 2024
Water quality and quantity
Article
February 2024
As operator spending shifts away from the U.S., six of eight regions will post drilling increases. That being said, some areas—Middle East, Africa and South America—will do better than others, and most gains registered will be modest.
Article
February 2024
At one point, 2024 was shaping up to be the Canadian oil patch’s big comeback year. But price volatility and a federal government that singles out fossil fuels in its climate crusade have plunged the industry into greater uncertainty and dimmed hope that Canada might again step to the international hydrocarbons forefront.
Article
February 2024
Despite escalating tensions in the Middle East, a significant OPEC+ output reduction and the war in Ukraine, crude prices fell in 2023, with WTI down 17.7% to average $77.60/bbl, $16.73/bbl less than the $94.33/bbl average for 2022.
Article
February 2024
Active natural gas wells saw a slight increase in the U.S. during 2023 of 0.9%, to 496,756 total wells, compared with 492,197 in 2022. Accordingly, total marketed gas production in the U.S. also saw an increase.
News
March 04, 2024
The curbs — which on paper total roughly 2 MMbpd — will remain in place until the end of June, according to statements from members such as Saudi Arabia, which accounts for half of the pledged reduction. Russia promised to strengthen its role by focusing more on cuts to production than exports.
News
March 04, 2024
Kent’s specialists will be fully integrated within bp’s commissioning and completions management team, ensuring a standardized approach across all projects and business units globally.
News
March 01, 2024
Pennsylvania Senate Democrats Bob Casey and John Fetterman have been more pointed in their criticism, saying in a joint statement last month “if this decision puts Pennsylvania energy jobs at risk, we will push the Biden administration to reverse this decision.”
News
March 01, 2024
Optimism that President Bola Tinubu’s arrival in office in May would expedite deals in Africa’s biggest oil producer is starting to dissipate.
News
February 29, 2024
The transaction accelerates delivery of ADNOC’s global chemicals growth strategy, and reinforces its status as a responsible, long-term partner and growth-oriented investor.
News
February 29, 2024
Domestic fuel consumption reached 20.23 MMbpd last year, the highest level since 2019, according to Energy Information Administration data released Thursday. U.S. demand should continue to strengthen this year to an average 20.39 MMbpd, just below 2019 levels, said the agency.
News
February 28, 2024
API outlined major flaws with several aspects of California’s request for a waiver, including its narrow focus on a singular technology to achieve compliance and failure to consider the benefits of a range of technologies that can better meet the needs of the public on a faster timeline.
News
February 27, 2024
Two out of three American voters say the country is on the wrong track on energy policy, and following the administration’s recent pause on LNG export permits, the poll found nine in 10 Americans believe the U.S. should continue to supply natural gas to our allies overseas.
News
February 27, 2024
Four years into its plan to shift away from oil and gas, bp is under increasing pressure from some shareholders to raise its profitability and narrow the valuation gap with more oil-focused U.S. competitors.
News
February 26, 2024
In 2024, APA plans to invest $1.9 to $2 billion in upstream oil and gas capital. APA will invest for the long term by directing $100 million of the upstream budget toward exploration activities, predominantly in Alaska, and $50 million toward progressing a large scale FPSO project in Suriname.
News
February 26, 2024
In a petition filed Monday with the Energy Department, the American Petroleum Institute (API) and six other groups say the indefinite delay runs afoul of a legal mandate for the agency to issue permits to broadly export LNG unless there’s been a clear finding the shipments aren’t in the public interest.
