Industry & Analysis
News
March 22, 2023
Crude would need to rise by about 15% to $80 a bbl, and gas would have to climb by more than a third to $3 per MMbtu for drilling and frack work to maintain its current pace, Quantum Energy Partners Chief Executive Officer Wil VanLoh said in an interview.
News
March 21, 2023
According to Clarksons, offshore oil & gas markets are in their strongest position for nearly a decade while momentum in wind continues. Global economic pressures aside, the offshore market outlook seems positive.
News
March 21, 2023
The NSTA expects companies with valuable licenses to progress exploration and production as quickly as possible, in line with their license commitments and the NSTA’s strategy.
News
March 20, 2023
The G-7 previously agreed to review the price level in mid-March, and EU legislation stipulates that the aim should be to keep the threshold at 5% below average market rates.
News
March 20, 2023
Goldman Sachs Group Inc., one of the most bullish banks on its outlook for oil, has nudged its forecasts down as worries over the banking sector and the potential for recession outweigh a surge in demand from China.
News
March 17, 2023
Celebrating innovation and excellence in the offshore energy industry, more than 400 guests attended the announcements of winners in 10 categories at the Offshore Achievement Awards, hosted Thursday night by the Aberdeen section of SPE International.
News
March 17, 2023
Futures in New York are set for a 12% weekly loss. While the failure of Silicon Valley Bank and troubles at Credit Suisse Group AG drove investors from the market, oil-options covering accelerated the selloff.
News
March 16, 2023
The combination of tightening credit conditions and lower energy prices has the potential to constrain U.S. driller spending, or lead OPEC+ to review their output targets, “altering the forward outlook for oil and gas supplies in a non-trivial way,” Pimco's Greg Sharenow said.
News
March 16, 2023
Global markets were roiled on Wednesday as turmoil at Credit Suisse Group AG triggered panic among banking investors. The crisis spread to commodities, with oil falling to a 15-month low.
News
March 15, 2023
He likened the energy complex to a three-legged stool balancing energy security, affordability and a low-carbon future. “If you focus too much on one leg of the stool, you end up throwing the others off,” Cohen said.
News
March 14, 2023
Under the proposals being considered by the Treasury, the additional 35% levy would cease to apply if energy prices fall below a given level, according to a person familiar with the matter.
News
March 14, 2023
The Organization of Petroleum Exporting Countries is pumping about 28.92 MMbpd, or about 300,000 a day more than it expects will be needed in the second quarter, it said in a monthly report. World oil consumption typically eases around this time, a softer patch between the end of winter and start of the summer driving season.
News
March 14, 2023
Economic impact analysis by Oxford Economics, published in Neptune’s Annual Report and Accounts, revealed the company’s overall European economic impact increased significantly in 2022, up from $3.3 billion in 2021, primarily due to higher earnings and taxes paid.
News
March 14, 2023
Brent, the global benchmark, fell below $80 for the first time since early February as investors fled risk assets and poured into safer bets but recovered some of those losses as U.S. authorities unveiled emergency measures aimed at strengthening confidence in the banking system and preventing contagion
News
March 13, 2023
In the minds of some attendees, S&P Global Vice Chairman Dan Yergin held back the best of the CERAWeek agenda’s speakers until Friday morning, when Senators Lisa Murkowski (R-Alaska) and Joe Manchin (D-W.Va.) made a joint appearance. If that was, indeed, the design, then it worked, as Murkowski and Manchin delivered a riveting set of commentary, analysis and political opinions.
News
March 13, 2023
The results were underpinned by stronger crude oil prices, higher volumes sold and improved margins for refined products, while Aramco continues to strengthen its oil and gas production capacity to meet anticipated future demand.
News
March 10, 2023
On Day Two of CERAWeek 2023 by S&P Global (CERAWeek), a session entitled, “Oil & Gas: Leading for the decade,” featured a discussion with Hess Corporation CEO John Hess and ConocoPhillips Chairman and CEO Ryan Lance, hosted by S&P Global Vice Chairman Dan Yergin.
News
March 10, 2023
The industry groups supported the Biden administration’s decision last year to request consultations with Mexico under USMCA, but stressed that further action is needed following the Mexican government’s failure to engage constructively in the process.
News
March 10, 2023
This agreement focuses on potential exploration opportunities in and beyond the pre-salt, including the Equatorial Margin. It also contemplates energy transition efforts, with an emphasis on renewables and carbon capture, utilization and storage (CCUS).
News
March 10, 2023
“While the Biden Administration has been begging the oil and gas industry to increase production to help bring down gas prices and other energy costs, the President’s actions are in stark contrast to the steps that need to take place to meet energy demand," said Tim Tarpley.
News
March 09, 2023
The Independent Petroleum Association of America (IPAA) is supportive of multiple House bills that will be marked up in hearings in the Energy and Commerce Committee and the House Natural Resources Committee.
