Industry & Analysis
News
March 10, 2024
The Petrobras delegation visited oil fields in Lake Maracaibo this week in what people familiar with the matter described as a courtesy trip. Maracaibo is a key production region for Venezuela and an opportunity for the country to resuscitate the linchpin of its economy after years of underinvestment.
News
March 08, 2024
In response to President Joe Biden’s comments on climate and oil and gas in his State of the Union address on Thursday night, Jeff Eshelman, President & CEO of the Independent Petroleum Association of America (IPAA) issued a statement.
News
March 07, 2024
The disclosure marks the first time either Hess or Chevron have said Exxon’s push to safeguard its preemption rights in Guyana could delay their merger, initially expected to close by the second half of this year.
News
March 07, 2024
The market is expected to tighten further as the year goes on, CEO Sheikh Nawaf Al-Sabah, said in an interview. U.S. shale production has helped meet some of the recent growth in demand, he added.
News
March 07, 2024
The Chancellor’s plan to continue the tax undermines OEUK’s manifesto proposals for a homegrown energy transition intended to boost domestic energy investment and drive the shift to greater production of wind and hydrogen energy, alongside the introduction of large-scale UK carbon capture and storage facilities.
News
March 07, 2024
The new company will be well positioned to grow into the largest pure-play P&A company in the nation, with the ability to offer customers a one-stop-shop for P&A, well site remediation/reclamation and eventually methane emissions quantification, reduction, and monetization via “carbon credits.”
News
March 07, 2024
API currently has 85 first-edition standards in development—roughly one-third of its active standards projects. These cover emerging topics and fields like repair and remanufacture, stakeholder engagement, and emerging technologies, such as hydrogen operations — to name just a few.
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.