73-year Wildcatter Herbert Hunt, 95, Passes Away
Industry leader Herbert Hunt was instrumental in dual-lateral development, opening the North Sea to oil and gas development and discovering Libya’s Sarir Field.
US Finalizes Big Reforms to Federal Oil, Gas Drilling
Under the new policy, drilling is limited in wildlife and cultural areas and oil and gas companies will pay higher bonding rates to cover the cost of plugging abandoned oil and gas wells, among other higher rates and costs.
Subsea7 Awarded Sizable Contract in GoM
Subsea7 will install a flowline for Talos’ Sunspear development in the Gulf of Mexico.
Exxon Moves Forward with Sixth Oil Project in Guyana, Targets 1.3 million Bpd Output
Exxon Mobil has made a final investment decision for its sixth oil development project in offshore Guyana after receiving the required government and regulatory approvals, the company said on Friday.A consortium led by Exxon began crude output in Guyana in 2019, and has ramped up production to some 650,000 barrels per day (bpd) this year. …
Exxon Moves Forward with Sixth Oil Project in Guyana, Targets 1.3 million Bpd Output Read More »
Asia Spot LNG at 3-month Peak on Steady Demand, Supply Disruption
Heating demand in Europe and production disruption at the Freeport LNG terminal in the U.S. pushed up prices, said Samuel Good, head of LNG pricing at commodity pricing agency Argus.
Exxon Mobil Green-lights $12.7B Whiptail Project Offshore Guyana
Exxon Mobil’s sixth development in the Stabroek Block will add 250,000 bbl/d capacity when it starts production in 2027.
OPEC Makes the Case for Oil Supply Restraints to Ease
Bloomberg The latest market forecasts from the world’s oil producer and consumer groups might as well be describing two different planets. Which one OPEC+ ministers believe they inhabit will be crucial for their production decision in June. The International Energy Agency is relatively downbeat on the outlook for demand. On Friday, it trimmed its 2024 forecast by …
OPEC Makes the Case for Oil Supply Restraints to Ease Read More »
U.S. Surpasses Renewable Energy Goal for Public Lands
(Reuters) – The Biden administration on Thursday said the U.S. had surpassed a goal of permitting more than 25 gigawatts of clean energy projects on public lands by 2025 and finalized a plan to slash project fees for wind and solar energy on federal acreage. WHY IT’S IMPORTANT The announcement marks the latest effort by …
U.S. Surpasses Renewable Energy Goal for Public Lands Read More »
Oil Rebounds on Mideast Tensions but Set for Weekly Loss
Summary Crude near six-month high Concern of fewer U.S. rate cuts weighs Market pares gains after IEA cuts 2024 demand growth view LONDON, April 12 (Reuters) – Oil rose over 1% on Friday as heightened tensions in the Middle East raised the risk of supply disruptions from the oil-producing region, though the market is set …
Oil Rebounds on Mideast Tensions but Set for Weekly Loss Read More »
The Jones Act: An Old Law on a Voyage to Nowhere
Keeping up with the Jones Act is a burden for the energy industry, but efforts to repeal the 104-year-old law may be dead in the water.