U.S. Offshore
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.
News
March 31, 2021
The American Petroleum Institute's senior vice president for policy, economic and regulatory affairs Frank Macchiarola says the White House's $2.25 trillion infrastructure plan jeopardizes both union and non-union jobs in the U.S. energy sector.
News
March 31, 2021
CGG has been awarded three major seismic imaging projects by BP, two from the deepwater Gulf of Mexico and one from offshore Trinidad & Tobago. These projects will start in Q1/Q2 this year and complete with cloud delivery of the data no later than Q4 of 2021.
News
March 31, 2021
The revision, which mainly affects the next few months, follows a recommendation from OPEC Secretary-General Mohammad Barkindo that the coalition should remain very cautious.
News
March 31, 2021
The $2.25 trillion, eight-year proposal is a follow-up to the $1.9 trillion economic relief bill passed earlier this month. To cover the costs, Biden wants to raise corporate taxes to 28% from 21%. The plan also seeks a minimum tax on profits U.S. corporations earn overseas, increasing the rate to 21% from roughly 13%.
News
March 31, 2021
The president’s plans, part of a $2.25 trillion infrastructure and stimulus blueprint he is set to unveil in Pittsburgh on Wednesday, are meant to catalyze investments in a clean energy economy and encourage low-emission technology necessary to constrain global warming.
News
March 30, 2021
Texas moved to stop the city of Austin and others from imposing a California-style ban on natural gas in new homes and buildings, the latest salvo in the gas industry’s bid to protect itself from local climate regulations.
News
March 30, 2021
The head of oil trader Gunvor Group Ltd. expects prices to remain stuck where they are as draws of excess stocks slow amid rising coronavirus cases in Europe.
News
March 30, 2021
Oil is poised to close out a fourth quarterly advance on Wednesday, but the past week has seen volatility climb amid the Suez Canal blockage. While fuel consumption is rising in many parts of the world, risks remain, with the head of the U.S. Centers for Disease Control and Prevention warning of “impending doom” as cases and deaths in the country pick up.
News
March 30, 2021
The coalition led by Saudi Arabia was widely criticized three weeks ago when it rebuffed calls to revive some of the crude production halted during the pandemic. As OPEC prepares for another decision on oil output, the producers believe their defiantly cautious approach is paying off.
News
March 29, 2021
In an agreement that further expands and complements Baker Hughes CCUS technology portfolio offering to strategically position for new energy frontiers, the Mixed Salt Process technology enables significant carbon capture separation cost reductions, providing cost savings for energy and industrial operators to decarbonize operations.
