Schneider Electric, the global specialist in energy management and automation, has announced a collaborative project with Landmark, a Halliburton business line and provider of integrated E&P software.
Kuwait and Saudi Arabia agreed that any resumption of crude production from shared oil fields along their border won’t raise their output beyond limits set at an OPEC meeting last week, according to two officials familiar with the talks.
OPEC’s agreement to cut production for the first time in eight years has the potential to balance the oil market, as long as everyone sticks to it, former Saudi Arabia Oil Minister Ali al-Naimi said.
OPEC’s decision to shrink oil production is both a blessing and a curse for natural gas markets.
David Hunt, CEO of PGIM, Prudential Financial Inc.’s $1-trillion asset manager, cautioned against overreacting to the surge in oil prices as OPEC clinched a deal to curtail supply.
The oilfield service companies that supply everything from sand to sophisticated robot rigs are seeking a new lease on life as America’s fracing fortunes begin to turn.
The next global energy transition is already under way, posing risks for some of the world’s largest energy companies.
OPEC’s most senior official said the organization and other major oil producers are “on course” to deliver a deal next month that will temper the global oversupply.
Crude in New York is set for the first weekly drop since mid-September as an OPEC committee meets to discuss how deeply some of its members should cut production to comply with the group’s pledge to reduce supply.
Mexico's wide-ranging energy reform, which began in 2013, is expected to reverse the country's declining oil production, increase the share of renewables in the power sector, and slow the growth in carbon emissions, providing a solid foundation for robust economic growth in the coming decades, according to the International Energy Agency.
Increased drilling by shale producers buoyed by higher prices will slow the decline in U.S. crude production, a government forecast showed.
Encana Corp., one of Canada’s largest energy explorers, is increasing capital spending by as much as 64% as it seeks to pull more crude out of America’s most prolific oil field.
Russia is sticking with an assumption that oil will average $40/bbl in the next three years and won’t take a bait by revising its budget outlook after a preliminary agreement by OPEC on its first production cut in eight years, according to Finance Minister Anton Siluanov.
The two-year downturn in the oil and gas industry may be coming to a close.
Is the Russian ruble more weakly linked to oil than before?
Oil dropped below $47/bbl before data forecast to show that gasoline stockpiles declined while crude inventories increased in the U.S., the world’s largest oil consumer.
Reflecting very different angles and priorities for coping with the 22-month oil-and-gas downturn, top executives from Saudi Arabia, the U.S., Brazil, Mexico and France, along with one analyst, told ONS attendees on Monday afternoon how they will move forward, as the industry begins to recover.
Oil declined amid doubts that producers will agree on a deal to stabilize the market when global suppliers meet next month for informal talks.
Crude could return to $100/bbl because the two-year market downturn has curbed investment, according to Lukas Lundin, a member of Lundin Petroleum AB’s board and chairman of Lundin Mining Corp.