Author hkrichiedistribution
BP’s CEO plans to sell some oil projects and curb the development of others to align its business with the Paris accord, the latest sign climate concerns are starting to impact the investment decisions of the world’s largest fossil fuel producers. Senior BP executives met within the last few days to discuss how to cut
The U.S. briefly became the world’s No. 1 oil exporter as record shale production found its way to global customers, and there are prospects for more. Surging output from shale helped America ship almost 9 MMbpd of crude and oil products in June, surpassing Saudi Arabia, the International Energy Agency said in a report, citing
As OPEC and its allies meet in Abu Dhabi, the IEA said it faces a significant challenge in managing the market into 2020. Demand for the group’s crude in the first half of 2020 will be 1.4 MMbpd below its August output as production surges from their competitors, including the U.S. Though an increase in
Norway’s Equinor has started production at the Utgard gas and condensate field, which straddles British-Norwegian border in the North Sea, the energy company said on Tuesday. The 40 million barrels of oil equivalents (boe) field is expected to reach daily output of around 43,000 boe at plateau, it added. Equinor is the field’s operator, while
The Norwegian Petroleum Directorate has granted Equinor consent to use the facilities on the Tordis and Vigdis fields for a total of 34 years beyond their originally-approved lifetime. Tordis has secured consent to operate until December 31, 2036 and Vigdis until December 31, 2040. Hot Tip Thousands of recruiters use oilandgaspeople.com to post jobs and
Dr. Sultan Ahmed Al Jaber, UAE Minister of State and Group CEO of ADNOC and Alexander Novak, Minister of Energy of the Russian Federation met to explore potential opportunities for collaboration as ADNOC seeks to expand its strategic partnership and investment base across its entire value chain. The discussions between Dr. Al Jaber and Novak
Traders have scrambled to calculate what the limit move in oil would be, after Saturday’s drone attack on the ‘’world’s most important oil processing plant’’. And moments ago, Brent crude reopened for trading, exploding almost 20% higher, its biggest jump in 28-years time. Bloomberg notes that this attack has resulted in the single-worst disruption in
Drone attacks have set alight two major oil facilities run by the state-owned company Aramco in Saudi Arabia, state media say. Footage showed flames and huge palls of smoke over Abqaiq, site of Aramco’s largest oil processing plant. A second drone attack also started fires in the Khurais oilfield to the west. The fires are
The U.S. House of Representatives is set to vote Wednesday on two proposals for limiting drilling in U.S. coastal waters, including an effort to permanently ban rigs near Florida, as Democrats seek to demonstrate their opposition to fossil fuels and emphasize Republicans’ sustained support for oil. The measures also could highlight divisions in the Republican
Egypt expects to begin receiving natural gas from Israel by the end of 2019, the oil minister said, fulfilling a $15 billion deal that will position the North African country as an energy re-export hub on Europe’s doorstep. Egypt will initially receive about 200 million standard cubic feet per day of the gas, with supplies