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News

Oilfield Services Giants Optimistic About Drilling Recovery

Oilfield Services Giants Optimistic About Drilling Recovery

Apr 21, 2021 at 17:12 | Tsvetana Paraskova

Two of the world’s largest oilfield services providers, Baker Hughes and Halliburton, reported on Wednesday profits beating expectations and expressed optimism that oil demand and oil drilling activity will grow…

Gunmen Abduct Oil Workers In Northeast India

Gunmen Abduct Oil Workers In Northeast India

Apr 21, 2021 at 17:05 | Tsvetana Paraskova

Gunmen abducted early on Wednesday three employees of India’s Oil and Natural Gas Corporation (ONGC) on a rig site in northeast India, the country’s biggest oil and gas production firm…

Billionaire Trader: Seismic Shift Is Taking Place In Houston Oil Patch

Billionaire Trader: Seismic Shift Is Taking Place In Houston Oil Patch

Apr 21, 2021 at 13:08 | Tsvetana Paraskova

The energy industry in Houston is in the midst of a “seismic shift” with much of the discussion and funding now focused on clean energy instead of on oil and…

Rystad Energy Sees Oil Demand Peaking In 2026

Rystad Energy Sees Oil Demand Peaking In 2026

Apr 21, 2021 at 12:26 | Tsvetana Paraskova

The accelerating adoption of electric vehicles (EVs) and electrification in other oil-consuming sectors is set to bring peak oil demand as early as 2026 at 101.6 million barrels per day…

Oil Dips As COVID Wave Sweeps India, Japan

Oil Dips As COVID Wave Sweeps India, Japan

Apr 21, 2021 at 11:32 | Tsvetana Paraskova

Oil prices slipped by 2 percent early on Wednesday, dragged down by surging coronavirus cases across major energy importers India and Japan. As of 09:55 a.m. EDT on Wednesday,

Reinstated Lockdowns Threaten India’s Oil Demand Recovery

Reinstated Lockdowns Threaten India’s Oil Demand Recovery

Apr 21, 2021 at 09:22 | Charles Kennedy

Amid record daily new COVID cases and reinstated lockdowns in populous cities, Indian refiners have started to cut oil processing rates as fuel demand in the world’s third-largest crude importer…

IEA: Post-Pandemic Jump In Energy Demand To Drive Emissions Sharply Higher

IEA: Post-Pandemic Jump In Energy Demand To Drive Emissions Sharply Higher

Apr 21, 2021 at 09:09 | Charles Kennedy

A post-pandemic jump in energy demand globally will drive carbon emissions sharply higher this year, the International Energy Agency said in its flagship report Global Energy Review. Energy demand…

Surprise Crude Build Pushes Oil Prices Down

Surprise Crude Build Pushes Oil Prices Down

Apr 20, 2021 at 15:43 | Julianne Geiger

The American Petroleum Institute (API) on Tuesday reported a build in crude oil inventories of 436,000 barrels for the week ending April 16. Analysts had predicted a draw of

India Sees Oil Production And Refinery Output Slump In 2020, 2021

India Sees Oil Production And Refinery Output Slump In 2020, 2021

Apr 20, 2021 at 14:24 | Charles Kennedy

Due to the pandemic that shut down some oilfields, India’s oil production dropped by 5 percent year over year in the fiscal year between April 2020 and March 2021, while…

Arab Gulf Countries Announced $10 Billion In New Oil And Gas Projects In Q1

Arab Gulf Countries Announced $10 Billion In New Oil And Gas Projects In Q1

Apr 20, 2021 at 12:34 | Tsvetana Paraskova

The Arab Gulf countries announced as much as US$10 billion worth of new projects in the oil and gas sector during the first quarter of 2021, out of the total…

Exxon Proposes $100 Billion Carbon Capture Project

Exxon Proposes $100 Billion Carbon Capture Project

Apr 20, 2021 at 11:36 | Irina Slav

Exxon has announced an ambitious carbon capture and storage project that could see the removal of 100 million tons of carbon dioxide annually by 2040. Dubbed the Houston Ship…

Caribbean Tourist Hotspot Mulls Restarting Refinery As Visitors Stay Home

Caribbean Tourist Hotspot Mulls Restarting Refinery As Visitors Stay Home

Apr 20, 2021 at 10:42 | Charles Kennedy

Aruba, one of the many tourist magnets in the Caribbean, is mulling the restart of a crude oil refinery after the pandemic devastated the global tourist industry.…

African Oil Producer Chad Faces Instability As President Dies

African Oil Producer Chad Faces Instability As President Dies

Apr 20, 2021 at 09:44 | Tsvetana Paraskova

Chad’s President Idriss Déby has died of injuries sustained in a clash with rebels over the weekend, the army of the central African oil producer said on Tuesday in…

Philippines Ready To Claim Oil Resources With Military

Philippines Ready To Claim Oil Resources With Military

Apr 19, 2021 at 15:59 | Julianne Geiger

The disputed South China Sea may soon see an escalation in tensions over oil drilling rights between China and the Phillippines, according to Phillippine President Rodrigo Duterte who spoke to…

Gulf Of Mexico Oil & Gas Pipelines Need Better Safety Regulations

Gulf Of Mexico Oil & Gas Pipelines Need Better Safety Regulations

Apr 19, 2021 at 13:36 | Charles Kennedy

The U.S. Department of the Interior lacks a robust oversight process to monitor and ensure the safety and integrity of some 8,600 miles of active offshore oil and gas pipelines…

India Is Pushing For More Coal Capacity

India Is Pushing For More Coal Capacity

Apr 19, 2021 at 12:18 | Charles Kennedy

One of the world’s largest carbon dioxide emitters, India, could add more coal-fired electricity generation capacity despite the global push for clean power sources. India could still need new coal…

Tesla Crash In Texas Leaves 2 Dead

Tesla Crash In Texas Leaves 2 Dead

Apr 19, 2021 at 11:51 | Irina Slav

A crash with a Tesla Model S left two men dead in Texas, Reuters reports, quoting local police authorities that said the car was driverless. "There was no one…

China Aims To Ramp Up Remarkable Solar And Wind Ambitions

China Aims To Ramp Up Remarkable Solar And Wind Ambitions

Apr 19, 2021 at 11:36 | Charles Kennedy

China has plans to boost the share of solar and wind power in its energy mix to 11 percent of total electricity output this year, Reuters has reported, citing…

BP Plans $1.3 Billion Gas Collection System To Eliminate Flaring

BP Plans $1.3 Billion Gas Collection System To Eliminate Flaring

Apr 19, 2021 at 09:43 | Irina Slav

Supermajor BP plans to invest $1.3 billion on constructing a system that would capture and collect natural gas released during oil production in the Permian to eliminate the highly controversial…

Nigeria Set To Start-up 100 Oil & Gas Projects By 2025

Nigeria Set To Start-up 100 Oil & Gas Projects By 2025

Apr 16, 2021 at 14:56 | Charles Kennedy

As many as 100 oil and gas projects are set to start in Nigeria by 2025, accounting for 23 percent of all projects starts in the industry in Africa within…

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