Industry Trends
News
December 08, 2022
Well-integrity specialist company HydraWell has unveiled its new technology, HydraCT, an advanced perforation, wash and cement system specifically designed for coil tubing applications with the potential to cut CO2 emissions by 80% and reduce costs by up to 60%.
News
December 05, 2022
Ocean services provider DeepOcean and Akvaplan-niva have signed an agreement to cooperate regarding the potential utilization of remotely operated vehicles (ROVs) and unmanned glider vehicles (USVs) to perform environmental studies for offshore wind and oil and gas developments.
News
December 01, 2022
Eni SpA is considering a takeover of private equity-backed oil and gas explorer Neptune Energy Group Ltd., people familiar with the matter said, in what would be a rare upstream acquisition by a European major amid the broader industry shift to renewables.
News
November 30, 2022
Government and industry gathered on Nov. 30 to discuss energy security, the energy transition to net zero and challenges to maintaining investment in the North Sea during a forum hosted by industry regulator the North Sea Transition Authority (NSTA).
News
November 30, 2022
Carlyle Group Inc. is exploring a multibillion-dollar bid for a large part of Austrian energy company OMV AG’s oil and gas portfolio, in what would be a bold move by a buyout firm to further expand into fossil fuels, people familiar with the matter said.
News
November 28, 2022
During the meeting, which was held at ADNOC headquarters, the board directed ADNOC to pursue a net-zero by 2050 ambition to support the UAE net zero by 2050 strategic initiative. The board also endorsed plans to accelerate its 5 million barrels per day oil production capacity expansion to 2027, from the previous target of 2030.
News
November 28, 2022
Viking Completion Technology announced on Monday multiple contract wins valued at more than $7 million to deliver its full portfolio of well completion manufacture and design services to major MENA operators, further cementing its strong regional presence.
News
November 27, 2022
Shell Plc is selling its stakes in a group of North Sea oil fields, according to Bloomberg News. The assets include minority stakes in two fields operated by BP Plc and an interest in a discovery field also operated by BP in the waters east of Scotland.
News
November 23, 2022
Capricorn Energy Plc. is standing firm behind its merger with Israel’s NewMed Energy LP despite investors holding more than a third of its stock coming out against the planned deal and creating a significant hurdle for its approval.
News
November 20, 2022
Offshore U.S. oil and natural gas installations are “at significant risk” of cyber-attack, according to a federal watchdog that warned of a potential disaster on par with the 2010 Deepwater Horizon blowout.
News
November 17, 2022
Diamondback will acquire drilling rights across 15,000 net acres in the Permian’s northern Midland Basin in Texas from closely held Lario Oil and Gas Co. for $850 million in cash and 4.18 million shares, according to a statement on Wednesday.
News
November 17, 2022
Saudi Arabia has cut oil exports sharply this month as the kingdom delivers on an OPEC+ agreement to shore up global crude markets.
News
November 15, 2022
While the United States filled some of the supply gap by exporting huge quantities of liquefied natural gas from its seven plants, global markets are going to have to wait at least two more years before any new U.S. LNG supplies come online.
News
November 14, 2022
Major U.S. exporter Freeport LNG will likely extend an outage that began in June, curbing much-needed supply to customers in Europe and Asia right before winter, according to sources.
News
November 14, 2022
Germany moved to nationalize a second major gas company in two months as Berlin seeks to secure supplies for the winter and contain the financial shock from Russia’s squeeze on European energy.
News
November 14, 2022
Due to a weaker economic backdrop and China’s strict anti-Covid measures, OPEC lowered estimates for the amount of crude it will need to pump this quarter by 520,000 bpd, following a similar-sized downgrade a month ago.
News
November 13, 2022
Within days of cruising to a re-election victory over a Democrat challenger, Texas Railroad Commission Chairman Wayne Christian took sharp aim at President Joe Biden's "anti-fossil fuels" agenda, saying his energy strategy is to ship U.S. energy production overseas.
News
November 13, 2022
UK Chancellor Jeremy Hunt is expected to delay much of the £55 billion ($65 billion) of savings to fill the hole in the public finances until after the next election, including an increase in the oil and gas windfall tax.
News
November 13, 2022
Oil and gas investments could be driven out of UK waters if Chancellor Jeremy Hunt carries out threats to raise the windfall tax to 35%, Offshore Energies UK (OEUK) has warned.
News
November 11, 2022
U.S. House Republicans made the case for more U.S. oil production at the UN climate summit in Egypt, arguing that cleaner domestically produced crude is needed to meet growing demand.
News
November 09, 2022
China's passion for Alaskan oil appears to be over as the country turns to Russia for oil that is being sold at a discount due to sanctions. Alaskan crude has traded at its biggest premium to WTI since 2014.
