Industry & Analysis
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.
Article
February 2024
We all want clean air and water. We all want to be good stewards of our land and natural resources. And over the last 50 years, America has proven that oil and gas production and a clean environment are not mutually exclusive.
Article
February 2024
The U.S. industry faces formidable challenges. In November 2024, elections for President, the Senate, and the House may change the political landscape to something more favorable. Irrespective, the Biden administration will be in office at least through January 2025, and the next 11 months will be a trying period.
Article
February 2024
Worldwide E&P spending is set to increase 5% in 2024, decelerating from 11% in 2023, with the global upturn extending into a third year. North American spending growth should moderate to 2.2% in 2024, following 19% growth in 2023. The majority of spending increases have shifted to international and offshore markets.
News
February 25, 2024
Saudi Arabia and its partners plan to decide early next month whether to extend roughly 2 MMbpd of curbs beyond March. With global demand growth slowing and U.S. crude production climbing, OPEC+ may need to persevere.
News
February 22, 2024
The American Petroleum Institute (API) issued a statement from President and CEO Mike Sommers in response to reports that the Biden administration is considering changing the implementation timeline for its proposed tailpipe emissions standards.
News
February 21, 2024
Vista Energy, a top-three shale-oil producer in Argentina, is eyeing assets put up for sale by Exxon Mobil Corp. as it looks to accelerate growth in the country’s heralded Vaca Muerta formation.
News
February 20, 2024
This year’s report will reveal the key business opportunities for supply chain companies across the country – highlighting where UK manufacturers already have the key strengths and expertise to scale up solutions like offshore wind, hydrogen, and carbon capture.
News
February 19, 2024
The new leadership team is the driving force behind a refreshed brand and identity - Interocean (formerly Rigmar Group), incorporates the diverse portfolio of services across the oil and gas sector, offshore, floating wind and marine industries.
News
February 19, 2024
Amidst shifting market dynamics, the oil and gas industry faced a significant quarter-on-quarter (QoQ) decline of 16% in disclosed contract volume from 1,401 in Q3 2023 to 1,172 in Q4 2023. Despite this downturn, a marginal uptick in overall contract value hints at resilience during the challenging times, reveals GlobalData, a data and analytics company.
News
February 16, 2024
“H.R. 7176 will put pressure on the Biden Administration to remove their political and unnecessary blockade on LNG export projects which are vital to Texas, America, and the world. It’s a great bill, and I applaud Rep. Pfluger and House Republicans for fighting back,” said Texas Railroad Commissioner Wayne Christian.
News
February 15, 2024
The OPEC+ alliance, which is led by Saudi Arabia, agreed to slash production during the first quarter to avert a global oil surplus and shore up prices. While several countries appear to have complied, Baghdad and Astana were once again delinquent.
News
February 15, 2024
The industrial complex represents the first of its kind in the UAE to thread full-length premium connections aligning with Tenaris’s Rig Direct model. This model revolutionizes the tubular supply chain through digitalization, providing a distinctive blend of well-planning services, OCTG field management, and on-site running support.
News
February 15, 2024
The legislation (H.R. 7176) by Texas Republican Representative August Pfluger would strip the Department of Energy of their role in approving LNG-export permits and instead require the Federal Energy Regulatory Commission to deem the export of gas to be consistent with the public interest.
News
February 14, 2024
Compared to December, job availability across the sector decreased by 0.6%. Nationally, the U.S. unemployment rate is at 3.7%. National job growth posted a surprisingly strong increase in January. Meanwhile, U.S. Chamber of Commerce analysis finds that workforce participation remains below pre-pandemic levels.
News
February 14, 2024
Global demand for liquefied natural gas (LNG) is estimated to rise by more than 50% by 2040, as industrial coal-to-gas switching gathers pace in China and South Asian and South-east Asian countries use more LNG to support their economic growth, according to Shell’s LNG Outlook 2024.
News
February 14, 2024
Diamondback Energy Inc.’s blockbuster deal for Endeavor Energy Resources LP makes the company’s shares the best way to invest in the prolific Permian basin in Texas, according to Tortoise Capital Advisors LLC.
News
February 13, 2024
World consumption will increase by 1.2 MMbpd to 1.3 MMbpd in 2024 as economic growth slows in China and elsewhere, Executive Director Fatih Birol said. This will be easily matched by swelling production from the Americas, predominantly the U.S., Canada, Brazil and Guyana.
News
February 13, 2024
Some forecasters predict that oil demand will hit a maximum in the coming years, as countries switch to renewable energy and electric vehicles in an effort to avoid damaging climate change. The International Energy Agency in Paris anticipates a peak before the end of this decade. OPEC has been a notable exception to this view.
News
February 13, 2024
Investors have been looking for clues on Woodside’s next move after talks to create a A$86 billion ($56 billion) company with Santos ended. Santos’s portfolio would have made Woodside one of the biggest LNG producers in the Asia-Pacific, but executives warned any deal would need to reflect low premiums in recent oil and gas transactions.
News
February 13, 2024
The acquisition of Coretrax will enable Expro to expand its portfolio of cost-effective, technology-enabled well construction and well intervention & integrity solutions, particularly across the North and Latin America, Europe and Sub-Saharan Africa and Middle East and North Africa regions.
