Industry Trends ///

Oxy Low Carbon Ventures, Carbon Engineering begin engineering of the world’s largest Direct Air Capture and sequestration plant

Oxy Low Carbon Ventures, LLC (OLCV), a subsidiary of Occidental, and Carbon Engineering Ltd. (CE), a Canadian clean energy company, has announced they are jointly proceeding with the engineering and design of the world’s largest Direct Air Capture (DAC) and sequestration facility.

African Energy Chamber says U.S. firms will not be left behind as investments pick up in Angola

Angola has emerged as the hub of foreign direct investments within Africa, and the prospects of attracting more FDI this year are bright, particularly in the country’s oil and gas sector.

Oil holds gain as OPEC signal on output cuts counters trade risk

Oil held gains on signs that OPEC and its allies will extend production cuts beyond June, while prices remained capped by worsening trade relations between the U.S. and China.

Texas pipeline protesters face jail time under new proposal

Oil pipeline protesters who interrupt operations or damage equipment could face up to 10 years in prison under legislation approved by Texas lawmakers.

Persian Gulf deemed risky for oil tankers

Not since 2005 have the world’s insurers considered shipping in the Persian Gulf so dangerous for oil tankers.

South Africa searches for partners for South Sudan oil block

South Africa’s Strategic Fuel Fund is welcome to bring in partners to help it execute a $1-billion agreement to drill for oil and build a refinery and pipeline in South Sudan, the central African nation’s oil minister said.

Wood's Permian teams take center stage at recent leadership visit

Thirteen Wood employees working in the US Permian shale basin were recently recognized in front of a 200-strong group of team mates by Wood’s chief executive, Robin Watson and Asset Solutions Americas CEO, Andrew Stewart.

Digital skills gap is holding back the energy sector, DNV GL report finds

A lack of digital skills and internal barriers related to company culture and mindset are the biggest roadblocks hindering digital progress in the energy sector, with 71% of organizations in the industry needing employees with combined domain and digital experience and 18% claiming to not have a single employee with this combined skillset.

Latest Permian basin oil supply surge to feed global markets

Exports of the Permian basin’s newest kind of oil are set to jump as production surges, exceeding the appetite of U.S. refiners.

Oil remains a key driver of Angola’s economy, capital spending

In an exclusive video statement provided to Africa Oil & Power, Angola President H.E. João Manuel Gonçalves Lourenço reaffirmed the role of oil and gas as a key driver in attracting domestic and foreign private investment into Angola.

Permian drillers pull back amid U.S.-China trade spat

Crude explorers deployed fewer rigs in U.S. fields this week amid an escalating U.S.-China trade war that weighed on oil prices.

Middle East oil grab hits fever pitch as supply squeeze persists

Oil refiners across Asia are bidding up crude prices from Abu Dhabi to Oman as they compete for supplies to make up for lost Iranian and Venezuelan exports.

Iranian crude shipments slump as U.S. oil sanctions bite deeper

Iran’s oil shipments tumbled this month after the U.S. ended sanctions waivers that allowed eight governments to buy from the Persian Gulf country.

Maersk Drilling to launch first hybrid, low-emission rig

Maersk Drilling will launch its first hybrid, low-emission rig. Combining hybrid power, data intelligence and cleaning technology, the Maersk Intrepid will push the boundaries for low-emission drilling on conventionally powered offshore rigs.

Pioneer CEO says Chevron is "bottom fishing" in Anadarko deal

Scott Sheffield, the founder and chief executive officer of shale producer Pioneer Natural Resources Co., thinks Chevron Corp. should take its $1 billion breakup fee and walk away from the Anadarko Petroleum Corp. deal.

Exxon CEO seeking solution to climate change in a lab

For Darren Woods, Exxon Mobil Corp.’s CEO, the answer to climate change won’t be found in solar panels or high-profile global accords, but rather in a U.S. government laboratory.

OTC: Keynotes from industry execs open 50th Offshore Technology Conference

The Offshore Technology Conference (OTC) kicked off Monday, May 6, at NRG Park, Houston, with a keynote session by four industry executives who discussed how companies are preparing for the future of offshore E&P with the introduction of machine learning, digitalization, and automation.

Pioneer asks senior management to consider retirement, sells assets

Pioneer Natural Resources Co. is asking one-third of its senior managers to retire as the Texas shale oil driller shrinks spending, sells assets and raises dividends.

Aker Solutions launches new software, digital services company for optimized asset performance

Aker Solutions has launched ix3(TM), a software and digital services company that enables operators to accelerate field development projects and optimize asset performance.

Hollub could outmuscle rival five times Oxy's size

Occidental Petroleum Corp. CEO Vicki Hollub is on the cusp of winning a David versus Goliath bidding war that has captivated the oil industry.