OPEC+ oil-producing countries failed to produce a joint output reduction target on Thursday but did agree to voluntary curbs on production of nearly 2 million barrels per day (bpd) for the first quarter of 2024. Oil prices fell after rising by more than 1% earlier in the session after OPEC+ announced the voluntary output cuts. …
The U.S. Energy Department said on Thursday it has finalized contracts to purchase 2.73 million barrels of oil for the Strategic Petroleum Reserve (SPR). The U.S. has contracts to purchase 930 million barrels (MB) from Exxon Mobil, 600 million MB from Phillips 66, 600 MB from Sunoco and 600 MB from Macquarie. The contracts total $215,929,510, …
U.S. Buys 2.73 Million Barrels of Oil for Strategic Petroleum Reserve Read More »
By Alex Lawler, Olesya Astakhova and Maha El Dahan Summary OPEC+ announces no new group cut target for 2024 Instead members led by Saudi Arabia to make voluntary cuts Saudi to roll over 1 million bpd cut into Q1 Russia to cut 500,000 bpd OPEC+ invites Brazil to join LONDON/MOSCOW/DUBAI, Nov 30 (Reuters) – OPEC+ oil producers on Thursday …
OPEC+ Agrees to Voluntary Oil Output Cuts, Invites Brazil to Join Read More »
By Gavin Maguire LITTLETON, Colorado, Nov 30 (Reuters) – Over 60% of global electricity generated so far in 2023 was produced by fossil fuels, despite the ongoing aggressive roll-out of renewable energy sources in every major economy. Several key countries have sourced well over half of their electricity from fossil fuels this year, including the …
Fossil Fuels Still Dominate Global Power Systems Read More »
(Bloomberg) Occidental Petroleum Corp. is in talks to buy shale driller CrownRock LP, according to the Wall Street Journal, as the consolidation wave in North America’s most prolific oil field gathers momentum. A deal for CrownRock could be valued above $10 billion including debt and could come together soon, the newspaper reported, citing people familiar …
(Bloomberg) Origin Energy Ltd. rejected a backup deal proposal from Brookfield Asset Management Ltd. to acquire its main energy business, with a full A$19 billion ($12.6 billion) takeover expected to be rejected at a vote next week. An alternative offer by Brookfield and EIG Global Energy Partners under which the Canada-based fund would pay A$12.3 …
Origin Rejects Brookfield’s Plan B as $12 Billion Deal Teeters Read More »
By Bruno Venditti Graphics/Design: Sabrina Fortin, Jennifer West Courtesy of Visual Capitalist – See More From Visual Capitalist HERE Visualizing the Top Energy Priorities of Major Countries As policy makers, business leaders, and academics gather at COP28 in Dubai this week, topics like climate change and the energy transition will be front and center. Discussions and …
Agreement broadens the Company’s market diversification with access to Europe and TTF-linked pricing CALGARY, AB, Nov. 29, 2023 /CNW/ – (TSX: ARX) ARC Resources Ltd., through its subsidiary ARC Resources U.S. Corp. (collectively, “ARC” or the “Company”), today announced it has entered into a long-term natural gas supply agreement (“the Agreement”) with Sabine Pass Liquefaction Stage …
ARC Resources announces second long-term natural gas supply agreement with Cheniere Read More »
(Reuters) – OPEC+ is continuing to hold talks on 2024 oil policy, with no delay to a meeting scheduled for Thursday currently expected, two sources from the producer group said on Wednesday. On Tuesday, sources had said a further delay to the meeting was possible amid talks which one of them described as difficult as countries maintained …
OPEC+ Talks Continue, No Meeting Delay Currently Expected Read More »
How downhole gauges are used as a part of the measurement, monitoring, and verification plan (MMV) for carbon capture & underground storage. Carbon Capture & Underground Storage Carbon Capture & Underground Storage (CCUS) is the process of storing high pressure, liquid carbon dioxide in a subsurface reservoir structure. The technology has been used for more …
Ensuring Safety For CCUS Operations With Real-Time Downhole Monitoring Read More »
