U.S. Offshore
News
April 08, 2021
President Joe Biden’s plan to eliminate subsidies claimed by oil and gas companies and raise levies on corporate polluters would increase government receipts by $35 billion over the coming decade.
News
April 07, 2021
Occidental Petroleum Corp. praised OPEC and its allies for managing crude markets out of last year’s historic crash and said the U.S. shale industry is thankful for its efforts.
News
April 07, 2021
With the U.S. unlikely to ever reach previous crude production levels, OPEC+ is moving to roll back part of their oil supply cuts in the coming months.
News
April 06, 2021
The American Petroleum released a new report examining how growth in cross-border petroleum trade between the United States and Canada has led to the further integration of North American energy markets, delivering economic benefits, lowering consumer energy costs and strengthening energy security on both sides of the border.
News
April 06, 2021
“A carbon tax would be bad for a lot of the industry, a carbon tax would be bad for the consumers and especially for those consumers who are more disadvantaged from an economic standpoint,” Occidental CEO Vicki Hollub said at a conference hosted by Texas Independent Producers & Royalty Owners Association.
News
April 06, 2021
The monthly Oilfield Services and Equipment Employment Report, compiled and published by the Energy Workforce & Technology Council, estimates a peak of 102,000 pandemic-related job losses. Since then, the industry has gained back more than 23,000 jobs.
News
April 06, 2021
The Wärtsilä system will enable a subsidiary of RWE Renewables, Hickory Park Solar, LLC, to sell nearly 200 MW of generation from the solar PV panels to Georgia Power Company.
News
April 06, 2021
North America’s biggest oil pipeline company, which for years has invested in wind and solar power projects, is also looking at gaining scale and becoming competitive in technologies such as hydrogen production using renewable electricity.
News
April 06, 2021
Oil prices showed signs of recovery in advance of multiparty negotiations taking place in Vienna later on Tuesday, though the chances of a breakthrough are seen by analysts as slim.
News
April 05, 2021
Following concerns that it is facilitating the sale of meaningless carbon credits to corporate clients, the Nature Conservancy says it’s conducting an internal review of its portfolio of carbon-offset projects.
News
April 05, 2021
Imports jumped 5.8% in March from a year earlier, the biggest increase since March 2020. Demand for the fuel used in heating and power generation had been steadily growing before Covid-19, as nations shift away from coal-fired power over climate concerns.
News
April 05, 2021
Crude has rallied this year as vaccine rollouts help major economies reopen. The decision by the Organization of Petroleum Exporting Countries and its allies was seen as a vote of confidence in the outlook for energy demand. The U.S. also added more than 900,000 jobs in March, the most in seven months.
News
April 02, 2021
Russia pumped 43.34 million tons of crude and condensate last month, according to preliminary data from the Energy Ministry’s CDU-TEK unit. That equates to 10.249 million barrels a day, based on 7.33 barrel-per-ton conversion ratio, or 1.3% more than in February.
News
April 02, 2021
Saudi Arabia raised prices for oil shipments to customers in its main market of Asia, signaling the kingdom’s confidence in the region’s economic recovery.
News
April 02, 2021
One day after the U.S. energy secretary phoned Saudi Arabia on the "importance of affordable and reliable energy for consumers," Interior Secretary Deb Haaland called the domestic fossil fuel industry "fundamentally broken," suggesting that Biden's oil and gas leasing moratorium will be anything but temporary.
News
April 02, 2021
Pioneer Natural Resources Co. is buying DoublePoint Energy LLC in a deal valued at $6.4 billion, less than three months after completing its purchase of fellow shale driller Parsley Energy Inc. as it expands in the U.S. Permian Basin.
News
April 01, 2021
Optimism has also been buoyed by expectations that global crude supplies won’t grow fast enough to satisfy demand as Covid-19 vaccinations proliferate and economies that shut down for the better part of a year begin reopening.
News
April 01, 2021
Defying market expectations for the second time in less than a month, the group agreed to add more than 2 million barrels a day to global oil supplies from May to July. That will return about a quarter of the crude they are still withholding after making deep cuts a year ago in response to the pandemic.
News
April 01, 2021
Even if OPEC+ decided to resume phased increases, it would review each step every month, allowing it to hit pause if oil demand growth were to disappoint, according to a delegate.
News
April 01, 2021
Many OPEC-watchers had been expecting the group to roll over its production quotas for at least one month, so any deviation from that could be bearish. It remains to be seen whether the call from U.S. Energy Secretary Jennifer Granholm to her Saudi counterpart Prince Abdulaziz bin Salman could tip the balance in the another direction.
News
April 01, 2021
Exxon was forced to shut or reduce runs at its large refining and petrochemical plants along the Gulf Coast, but its quarterly filing showed that its oil and gas production facilities also suffered substantial reductions in earnings.
