Author hkrichiedistribution
Oil posted the biggest weekly gain in more than a month as supplies tightened and the White House signaled progress on U.S.-China trade talks. Futures in New York rose for a fourth day. U.S. crude stockpiles fell for the first time in six weeks, the EIA said Wednesday, while a critical North Sea oil pipeline
ConocoPhillips posted higher-than-expected third-quarter earnings as the world’s largest independent oil producer generated almost $1 billion of free cash flow despite lower crude prices. The Houston-based company followed BP Plc on Tuesday in surpassing analysts’ projections, partly due to its U.S. shale production, which rose 21% from a year earlier. CEO Ryan Lance is preparing
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The U.S. has forfeited some $18 billion tied to oil and gas production in the Gulf of Mexico since 2000 because of a decades-old law that gave energy companies a break on paying royalties when drilling in deep waters, federal investigators concluded Thursday. The foregone revenue will keep climbing, as energy companies continue to harvest
The Trump administration showed support for energy innovation in the United States this week, issuing a report that directly outlines how U.S. shale production is positively impacting both the economy and the environment. Speaking at the 9th Annual Shale Insight Conference in Pittsburgh, President Donald Trump said that shale production is “saving energy producers millions
Offshore wind power will expand significantly over the next two decades, boosting efforts to decarbonize energy systems and reduce air pollution as it becomes a growing part of electricity supply, according to an International Energy Agency report. Offshore Wind Outlook 2019 is the most comprehensive global study on the subject to date, combining the latest
International SOS, which previously had a minority stake in Iqarus through a joint venture, is becoming the majority shareholder and taking sole ownership of the business in Aberdeen. It is also increasing its investment in Iqarus’ Global Health Services business in Dubai. Hot Tip Thousands of recruiters use oilandgaspeople.com to post jobs and find suitable
Total announced that it will focus its global venture fund on fostering carbon neutrality. The fund will increase its capital to a cumulative $400 million within five years’ time. Its investments will support start-ups that develop innovative technologies and solutions which help companies to reduce their energy consumption or the carbon intensity of their activities.
BP Ventures has invested $5 million in Finite Resources Inc, parent company of Finite Carbon, a US-based forest carbon management company. The investment will enable Finite Carbon to grow a new line of business to incentivize sustainable forest management, financed by businesses seeking to voluntarily offset carbon emissions. Finite Carbon was founded in 2009 and
NHV Group, a leading provider of B2B helicopter services, today announced that it has gained an Air Operator Certificate (AOC) by the UK Civil Aviation Authority (CAA). With this AOC, NHV again confirms its intention to strengthen its position in the UK offshore helicopter segment. The Group has currently inducted 7 aircraft under its UK