Industry & Analysis
News
March 07, 2024
President Bola Tinubu on Wednesday signed executive orders introducing tax credits for some onshore and shallow-water locations and streamlining contract approvals, the government said in a statement on X. The measures also include some local-content requirements.
News
March 06, 2024
On March 6, the Securities and Exchange Commission (SEC) released its final climate disclosure rule, drawing criticism from oil and gas trade groups for it’s perceived flaws.
News
March 06, 2024
As President Joe Biden prepares to give the State of the Union address, oil and gas trade groups like the Independent Petroleum Association of America (IPAA), American Petroleum Institute (API) and National Ocean Industries Association (NOIA) issued statements on what they would like to hear regarding domestic energy policy and development.
News
March 06, 2024
Exxon filed for arbitration in the International Chamber of Commerce in Paris on Wednesday. Exxon, as 45% owner and operator of the Guyana project, believes it has a right of first refusal over any change of hands in Hess’ 30% stake and would consider matching Chevron’s valuation.
News
March 06, 2024
Hedge fund managers that wagered billions on Chevron Corp.’s October deal to buy Hess Corp. are sticking to their bets despite another roadblock that could potentially torpedo the acquisition.
News
March 06, 2024
The windfall tax has been heavily criticized by the North Sea oil and gas producers for disproportionately impacting smaller companies. While Russia’s war in Ukraine help push up profits for energy giants such as bp Plc and Shell Plc, the bulk of those earnings come from operations outside of the UK and therefore aren’t taxed in Britain.
News
March 05, 2024
Additionally, Talos has appointed QuarterNorth's designee, Joseph A. Mills, to the Talos Board of Directors. Talos plans to update its 2024 operational and financial guidance to reflect the acquisition closing timing in the coming days.
Article
February 2024
Wildcat wells netting smaller discoveries
Article
February 2024
Saudi Arabia suspends oil expansion as neighboring producers plan to raise output
Article
February 2024
Water quality and quantity
Article
February 2024
As operator spending shifts away from the U.S., six of eight regions will post drilling increases. That being said, some areas—Middle East, Africa and South America—will do better than others, and most gains registered will be modest.
Article
February 2024
At one point, 2024 was shaping up to be the Canadian oil patch’s big comeback year. But price volatility and a federal government that singles out fossil fuels in its climate crusade have plunged the industry into greater uncertainty and dimmed hope that Canada might again step to the international hydrocarbons forefront.
Article
February 2024
Despite escalating tensions in the Middle East, a significant OPEC+ output reduction and the war in Ukraine, crude prices fell in 2023, with WTI down 17.7% to average $77.60/bbl, $16.73/bbl less than the $94.33/bbl average for 2022.
Article
February 2024
Active natural gas wells saw a slight increase in the U.S. during 2023 of 0.9%, to 496,756 total wells, compared with 492,197 in 2022. Accordingly, total marketed gas production in the U.S. also saw an increase.
News
March 04, 2024
The curbs — which on paper total roughly 2 MMbpd — will remain in place until the end of June, according to statements from members such as Saudi Arabia, which accounts for half of the pledged reduction. Russia promised to strengthen its role by focusing more on cuts to production than exports.
News
March 04, 2024
Kent’s specialists will be fully integrated within bp’s commissioning and completions management team, ensuring a standardized approach across all projects and business units globally.
News
March 01, 2024
Pennsylvania Senate Democrats Bob Casey and John Fetterman have been more pointed in their criticism, saying in a joint statement last month “if this decision puts Pennsylvania energy jobs at risk, we will push the Biden administration to reverse this decision.”
News
March 01, 2024
Optimism that President Bola Tinubu’s arrival in office in May would expedite deals in Africa’s biggest oil producer is starting to dissipate.
News
February 29, 2024
The transaction accelerates delivery of ADNOC’s global chemicals growth strategy, and reinforces its status as a responsible, long-term partner and growth-oriented investor.
News
February 29, 2024
Domestic fuel consumption reached 20.23 MMbpd last year, the highest level since 2019, according to Energy Information Administration data released Thursday. U.S. demand should continue to strengthen this year to an average 20.39 MMbpd, just below 2019 levels, said the agency.
