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News

Texas Collects Record Amount Of Taxes From Oil & Gas

Texas Collects Record Amount Of Taxes From Oil & Gas

Jan 15, 2020 at 10:03 | Tsvetana Paraskova

Amid record oil and gas production, the oil and natural gas industry in Texas paid a total of US$16.3 billion in local taxes and state royalties in fiscal year 2019—the…

Encana Shareholders Approve Move To U.S., Name Change

Encana Shareholders Approve Move To U.S., Name Change

Jan 15, 2020 at 09:01 | Irina Slav

As many as 90 percent of Encana shareholders voted in favor of the company’s proposed renaming and move to the United States as the company seeks to improve its access…

Oil Prices Head Lower Following Inventory Builds

Oil Prices Head Lower Following Inventory Builds

Jan 14, 2020 at 15:52 | Julianne Geiger

The American Petroleum Institute (API) has estimated surprise crude oil inventory build of 1.1 million barrels for the week ending January 10, compared to analyst expectations of a 474,000-barrel…

Norway Awards 69 Oil Blocks To 28 Firms To Explore Mature Areas

Norway Awards 69 Oil Blocks To 28 Firms To Explore Mature Areas

Jan 14, 2020 at 15:27 | Tsvetana Paraskova

Norway awarded on Tuesday 69 new production licenses to 28 companies to explore in areas next to mature developed production areas, securing further exploration on the Norwegian Continental Shelf,…

Wind, Solar To Dominate New U.S. Power Capacity This Year

Wind, Solar To Dominate New U.S. Power Capacity This Year

Jan 14, 2020 at 13:07 | Tsvetana Paraskova

Wind and solar power will dominate the electricity generation additions across the United States in 2020, accounting for an overwhelming 76 percent of all new capacity set to begin commercial…

Shale Pioneer Mark Papa: Expect M&A Wave In Shale

Shale Pioneer Mark Papa: Expect M&A Wave In Shale

Jan 14, 2020 at 12:19 | Tsvetana Paraskova

Slowing U.S. crude oil production growth will likely lead to a new wave of consolidation across the U.S. shale patch, where the big players will acquire the ‘smaller guys’, shale…

UAE’s ADNOC Signs Crude Oil Storage Deal With Japan

UAE’s ADNOC Signs Crude Oil Storage Deal With Japan

Jan 14, 2020 at 11:30 | Tsvetana Paraskova

The Abu Dhabi National Oil Company (ADNOC) has signed a strategic agreement to store crude oil at storage facilities in Japan, Abu Dhabi’s state-held oil firm, which pumps nearly…

Saudi Aramco Chairman: Oil Industry Should Think In Decades

Saudi Aramco Chairman: Oil Industry Should Think In Decades

Jan 14, 2020 at 10:23 | Tsvetana Paraskova

Energy transitions “take decades, even centuries” to complete, the chairman of the world’s largest oil company, Saudi Aramco, said at a conference on Monday, adding that the industry should…

UK Oil Producer Sees Shares Tumble 70% On Loan Fraud

UK Oil Producer Sees Shares Tumble 70% On Loan Fraud

Jan 14, 2020 at 10:20 | Irina Slav

London-listed oil producer Lekoil has suspended trade in its shares amid a budding scandal involving a loan from a company claiming to act on behalf of the Qatar sovereign investment…

Ontario Government Warns Residents of Nuclear Incident—Accidentally

Ontario Government Warns Residents of Nuclear Incident—Accidentally

Jan 14, 2020 at 09:40 | Irina Slav

The Canadian government sent out an incident alert for a nuclear plant near Toronto on Sunday, urging residents in the vicinity of the Pickering nuclear power plant to ask the…

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