(Bloomberg) — Six months ago, U.K. North Sea oil and gas faced the bleakest outlook in its 50-year history. The government was focused on hosting the COP 26 climate talks and environmental groups were close […]
National Ocean Industries Association President Erik Milito has issued a response to the Interior Department’s decision not to move forward with planned Gulf of Mexico and Alaska oil and gas lease sales. Last week, the […]
The oil ministers of Saudi Arabia and the United Arab Emirates warned that spare capacity is decreasing in all energy sectors as producers slash investment, causing everything from crude to diesel and natural gas to […]
Capex declines to $7.6 bil from $8.2 bil in Q1 2021 Aramco to continue spending increase by middle of decade Aramco is expanding oil production capacity to 13 mil b/d by 2027 Saudi Aramco, the […]
All 13 members of OPEC saw their production rise by just 153,000 barrels per day. OPEC’s collective production rose to 28.648 million bpd in April. Saudi Arabia, raised its production by 127,000 bpd to 10.346 […]
Domestic opposition to fracking continues to grow in Colombia. Colombia has launched fracking pilots at two sites. A recent court decision could end the fracking pilots, and herald the beginning of the end for Colombian […]
ConocoPhillips shareholders rejected a proposal for the oil explorer to set more rigorous targets for greenhouse-gas emissions. More than 60% of shareholders voted against the plan during its annual meeting on Tuesday, according to preliminary results […]
Inflation in the oil sector is worsening and industry executives see no reason to expect cost pressures on everything from steel pipe to frac sand to ease any time soon. The price spiral has been […]
Russia’s oil output is plummeting, and the ban the import of Russian oil in May. OPEC recently warned that markets could see the loss of more than 7 million barrels per day of Russian oil […]
Source: Graph by the U.S. Energy Information Administration, based on data from Evaluate Energy In response to higher crude oil prices, financial results for 42 U.S. exploration and production (E&P) companies showed large increases in both […]
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