WorldOil Exxon delays flagship upstream projects to protect its balance sheet As recently as March, the Texas giant had pinned its future to huge capital spending on oil and natural gas at a time when peers were exploring ways to decarbonize. Exxon CEO Darren Woods’ plan was to lean on the company’s impeccable balance sheet to drill for gushers and still cover almost $15 billion in annual dividends. Turkey delays seismic work in disputed waters to defuse Greek tensions Ankara is seeking a discussion with Athens about issues surrounding the countries’ continental shelves, air space and offshore hydrocarbon exploration, Ibrahim Kalin said in a televised interview with CNNTurk news channel. Lukoil acquires deepwater Senegal interest from Cairn Energy The 2,212 sq. km blocks are located on the deepwater shelf of the Republic of Senegal, and include the Sangomar and FAN fields .According to the Lukoil's estimates, the recoverable hydrocarbon reserves of the Sangomar field total approximately 500 MMboe. Turkey ignores Greece’s dispute, moves on with Mediterranean seismic surveys Tensions between Turkey and Greece have flared over issues such as oil and gas exploration in the shared waters of the Aegean and Mediterranean seas as well as flow of refugees through Turkey to European countries. Fugro completes Phase 1 of site investigation contract for Qatargas North Field Fugro has completed the first phase of their multidisciplinary offshore site investigation for Qatargas’ North Field Production Sustainability’s Compression Phase. Is Warren Buffett's $10B natural gas spend a bet against decarbonization? In this podcast episode, Buffett sees a longer future for natural gas in the U.S., encouraging signs of a recovery in drilling continue to emerge, and the UK seeks to put an expiration date on internal-combustion vehicles. Aker Solutions, Kvaerner transform to seize renewable-energy opportunities “At a time when renewables have developed from niche technologies to global industries, Aker’s ambitions exceed the announced spin-offs in Aker Solutions,” Aker Chief Executive Officer Oyvind Eriksen said in a statement. “We take an active role to position ourselves in a broader and rapidly growing renewable energy industry.” How might Joe Biden and his new $2 trillion climate plan affect the energy industry? While Biden's multi-trillion-dollar plan seeks to reshape energy, OPEC projects a return to record oil demand in 2021 - and global drilling activity appears to be backing that bet. Exxon resumes drilling offshore Guyana amid travel bans and political drama The company confirmed that the Stena Carron and Noble Tom Madden vessels returned to full operations last month. The rigs had been shut when the country of less than a million closed its borders after the pandemic hit South America. As the U.S. drilling decline continues, Canada's offshore industry puts Ottawa on the spot World Oil editors discuss how the latest rig count numbers disappoint, a Canadian oil industry association gets tough, OPEC+ puts their foot down on cheaters, and a Marcellus shale recovery falls into question thanks to the Atlantic Coast pipeline.