WorldOil Oil stocks rallying in 2021, despite Biden’s fossil fuel threats Companies including Exxon Mobil, Diamondback Energy and Marathon Oil have posted double-digit gains this year as a rebound in oil prices and the prospect of an economic recovery have outweighed risks to the industry from the Biden administration. Biden pauses onshore and offshore drilling leases, orders subsidy reviews President Joe Biden took executive action on Wednesday to block new leases for oil drilling on federal lands and waters for one year and ordered a review of fossil-fuel subsidies and other measures to overhaul how the U.S. produces energy. Baker Hughes expands non-metallic materials with new composite flexible pipe for onshore pipelines The flexible, lightweight reinforced thermoplastic pipe (RTP) offers an economic and environmentally superior alternative to resource-intensive onshore steel pipes, for optimizing the core structure of flowline and oil and gas pipeline networks. In the Biden/Harris Presidency, any fracing ban is least of the industry’s worries While the various and constantly evolving Biden/Harris promises to ban hydraulic fracturing—at one level or another—dominated the narrative during the general election campaign, the approach they will choose to take on a range of oil and gas issues, now that they are in a position of power, will come into sharp relief. There's something rotten in the state of Denmark's grand energy plans It's a tale of two cities with the EU's largest oil producer swearing off production by 2050, as OPEC+ stalwarts Saudi Arabia and the UAE grapple over who will lead the group's drive to meet the world's future oil demand. Asian markets are OPEC+ and U.S. shale’s latest battleground for market control In the wake of fresh warnings about declining oil demand, a struggle is brewing between key exporters like the U.S. and the OPEC+ alliance to gain market share in the world's last growth region before it’s too late. U.S. crude may be included in Brent global benchmark pricing The move reflects the growing importance of U.S. crude internationally -- the country five years ago ended restrictions on oil exports imposed during the energy crises of the 1970s -- and the fact that supplies of some of the North Sea’s key grades are dwindling. Conoco may dismiss up to 25% of Houston HQ staff as Concho buy closes “The process to determine the exact number of impacted employees is ongoing,” the company said in an email on December 1. “However, we anticipate the number of reductions in Houston could meet the threshold of 500 or more.” Oxy CEO says U.S. oil production will never see pre-pandemic levels America’s oil production will never again reach the record 13 million barrels a day set earlier this year, just before the pandemic devastated global demand, according to Occidental Petroleum Corp. Schlumberger sells its frac operations to Liberty Oilfield Services for 37% equity stake Liberty Oilfield Services Inc. and Schlumberger announced an agreement for the contribution of Schlumberger’s onshore hydraulic fracturing business in the United States and Canada, including its pressure pumping, pumpdown perforating, and Permian frac sand businesses to Liberty, in exchange for a 37% equity interest in the combined company.