Around 120 discoveries were made in 2024, but most were small, unlike major finds in previous years. High-impact drilling is expected in Suriname (Korikori), Cyprus (Elektra), Libya (Area C), and South Africa (DWOB). Oil majors like Chevron, ExxonMobil, and TotalEnergies are leading the charge in new and existing frontier basins. The global oil industry saw […]
Continue ReadingDaily Standup Top Stories Redrawing of global energy markets map set to heap benefits on US February 23, 2025 Clark Savage The prospects of peace and the return of Russian gas looks likely to serve the interests of Donald Trump The Kremlin’s invasion of Ukraine three years ago has reverberated through the global energy industry; unravelling Europe’s […] […]
Continue ReadingENB Pub Note: I had to change the title to \”Gulf of America\” as World Oil published with \”Gulf of Mexico\” – just trying to help. ConocoPhillips will sell its interests in the Gulf of America* Ursa and Europa fields to Shell for $735 million, both companies confirmed today. ConocoPhillips continues to work towards a […]
Continue ReadingIn this episode of Energy News Beat – Conversation in Energy, host Stuart Turley sits down with Rachel Collins, CEO of W Energy, discusses the company\’s significant investments in integration, unveiling Stream Plus, a fully integrated platform covering accounting, production, land, and field services. She highlights the importance of customizable dashboards, regulatory compliance tools, and […]
Continue ReadingBurgum suggests stronger USGS role to analyze the potential Says US public lands hold natural resources worth trillions Interior Secretary Doug Burgum touted a plan for mapping deposits of oil, gas and critical minerals on US federal lands, casting it as an opportunity to catalyze development of the energy resources, reduce dependence on foreign suppliers and pare […]
Continue ReadingDaily Standup Top Stories Iranian Oil Exports to China are rolling February 19, 2025 Clark Savage Iranian crude oil flows to China have rebounded this month after a U.S. crackdown on shipments launched in late 2024 decimated them in January. In a last-minute push to sanction Iran, the Biden admin blacklisted […] West will have to reconsider […]
Continue ReadingDiamondback Energy, Inc. (NASDAQ: FANG) on Tuesday announced a deal to buy Double Eagle IV Midco in an acquisition valued at about $4 billion, which gives the buyer increased presence in the Midland Basin in the top-oil producing U.S. formation, the Permian. Diamondback Energy has signed a definitive purchase agreement to buy certain subsidiaries of Double Eagle […]
Continue ReadingOffshore rig owners Arabian Drilling and Shelf Drilling have signed a memorandum of understanding to form a strategic alliance. Under the agreement, Shelf Drilling will seek to use some of Arabian Drilling’s high-specification jackup rigs to meet contract requirements. By combining resources, the alliance will be positioned to deliver services to customers and increase the […]
Continue ReadingDaily Standup Top Stories The End of Coal Is Nowhere In Sight February 17, 2025 Clark Savage Retirement of coal-fired power plants in the West has done nothing to reverse global coal demand. Global coal consumption is set to remain at these high levels—or even hit new all-time highs—for a few more […] Coal Consumption Remains High […]
Continue Reading(Reuters) Chevron\’s oil and gas reserves have fallen to the lowest point in at least a decade, highlighting the importance of the U.S. major\’s planned acquisition of oil producer Hess that has stalled due to a court battle with ExxonMobil. Reserve replacement is one of the key metrics for investors in energy companies, as it […]
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