BP welcomes huge platform for Mad Dog 2 project to Texas
The Argos platform for the BP-operated $9 billion Mad Dog 2 project has arrived in the US after completing its 16,000-mile journey from South Korea.
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Exxon sees up to $800million earnings hit from Texas freeze
Exxon Mobil Corp. expects first-quarter earnings to be reduced by as much as $800 million due to the deep freeze that plunged Texas into darkness last month.
Brent near $64 with Goldman Sachs predicting more gains
Brent oil resumed gains as the market assessed the fallout from the big freeze across Texas, with Goldman Sachs Group Inc. predicting prices will advance into the $70s in coming months.
Weak grids expose risks for the electrification of everything
Home heating systems shutting down. Hospitals facing water shortages. Oil refineries going offline.
Brent near $65 as US crisis provides global supply shock
Brent oil traded near $65 a barrel as a cold blast that’s taken out almost 40% of US crude production morphed into a global supply shock.
Texas oil group vows to limit flaring as state signals crackdown
A coalition of Texas oil industry groups is pledging to end routine flaring of natural gas from wells and other facilities by 2030 amid signs that state regulators may crack down on the controversial practice.
Exxon maintains dividend as oil rally expected to boost cash
Exxon Mobil Corp. kept the S&P 500 Index’s third-largest dividend after this year’s rally in commodity prices eased analysts’ fears that the payout was becoming unaffordable.
Chevron awards Subsea 7 contract for Angola Sanha Lean platform
Subsea 7 has won a contract worth up to $300million for construction of a platform for the Chevron Sanha Lean Gas Connection (SLGC) project off Angola.
Scots firm Sulmara Subsea makes Asia-Pacific expansion
Scottish firm Sulmara Subsea is making an expansion drive into the Asia-Pacific (APAC) with a new office in Singapore.
Diamondback Energy to acquire QEP Resources for $2.2 billion
Diamondback Energy is planning a pair of acquisitions worth more than $3 billion that would strengthen its position in the Midland Basin of West Texas.
North Face accused of ‘virtue signalling’ after refusing to sell jackets to oil company
The North Face has been accused of “counterproductive virtue signalling” after refusing to sell jackets to an oil services company.
Oil bankruptcies rise in the third quarter
The number of bankruptcies in the energy sector rose during the third quarter as the coronavirus pandemic continued to take its toll on the oil and gas industry.
Texas added 700 oil extraction jobs in September, first uptick since the pandemic started
Texas added 700 oil and gas extraction jobs in September, the first uptick since the coronavirus pandemic broke out nationally.
France says ‘non’ to Engie’s US LNG plans
The French government is delaying plans for Engie to secure a deal to import US LNG, citing concerns over emissions.
Rio Grande LNG aims for carbon neutrality with CCS
NextDecade plans to cut CO2 equivalent emissions at its planned Rio Grande LNG facility by around 90%.
Aramco shelves $20 billion petrochemical plan after oil’s crash
Saudi Aramco is shelving multi-billion-dollar petrochemical and gas projects as the state oil giant’s determination to preserve its dividend despite a crash in energy prices forces it to cut back on major investments.
Most US shale companies to restore production by end of 3rd quarter
By the end of the third quarter, most U.S. oil producers plan to restore nearly all of the production shut down during the oil crash, according to a new report.
Occidental posts $6.6billion charge after oil price crash
Occidental Petroleum Corp. reported a $6.6 billion writedown in the second quarter, equivalent to more than 40% of its market value, as the collapse in energy prices took its toll on the debt-laden U.S. shale oil producer.
Aberdeen oil tourism plan could be ‘resurrected’ with new rig concept, says business leader
Plans for a major Aberdeen oil tourism site from over 30 years ago could be "resurrected" by a new rig idea for the harbour, according to a business leader.
Aberdeen should use decommissioned oil platform as ‘first class tourist attraction’
Aberdeen should use a giant decommissioned oil platform as a "first class tourist attraction", according to a long-standing city campaigner.
Halliburton loses £1.3billion in 2nd quarter
The coronavirus pandemic stung oilfield service company Halliburton with a $1.7 billion (£1.3bn) loss in the second quarter.
Trump claims he ‘created’ the Texas oil industry
President Donald Trump on Monday downplayed “phony polls” showing a tight presidential race in Texas, saying he’s way ahead because he “saved the oil industry,” and later adding, “I created it.”
Transocean to lay off 110 offshore rig workers
Transocean Deepwater plans to lay off as many as 110 workers after the Houston offshore driller could not secure a new contract for one of its drillships amid low oil prices.
Texas moves ahead on discharging oil wastewater, even as EPA balks
Environmental officials in Texas and other western states are moving ahead on plans to allow oil and gas companies to treat drilling wastewater and discharge it into rivers and streams, even as the Trump administration balks at endorsing the practice amid widespread questions about public health effects.
Report: US hydraulic fracturing demand expected to bounce back
Demand for hydraulic fracturing services in shale plays across the United States is expected to reach rock bottom in May and stay low in the summer before a recovery begins in the fall, the Norwegian global energy research firm Rystad Energy reported.