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Oil May Slide to $10 Under This WoodMac Scenario

Industry Headlines

BP Strikes Oil and More Share your comments
Saturday, April 17, 2021Here are some of Rigzone's top upstream stories during the last week, just in case you missed them...

Crude Oil Prices Wrap Up Strong Week Share your comments
Friday, April 16, 2021Oil posted the biggest weekly gain since early March.

Oil Demand Growth Overcomes Vax Setbacks Share your comments
Friday, April 16, 2021Here is a review of oil and gas market hits and misses for the week ending April 16, 2021.

Oil May Slide to $10 Under This WoodMac Scenario Share your comments
Friday, April 16, 2021Wood Mackenzie has highlighted that under its Accelerated Energy Transition Scenario (AET-2), oil demand will drop significantly, and with it, oil prices.

GOM Vessel Incident Declared Major Marine Casualty Share your comments
Friday, April 16, 2021The U.S. Coast Guard revealed Thursday that an incident involving a capsized commercial lift vessel in the U.S. Gulf of Mexico has now been declared a major marine casualty.

Oil Up on Better Demand Outlook Share your comments
Friday, April 16, 2021Oil is heading for the biggest weekly gain since early March on optimism the recovery in demand from the Covid-19 pandemic is improving.

Slithering Robot Could Aid Offshore Inspections Share your comments
Friday, April 16, 2021HUMRS during its March 2021 underwater demonstration. PHOTO SOURCE: Carnegie Mellon University

Oil Prices Climb Higher Share your comments
Thursday, April 15, 2021Oil extended its climb out of a month-long trading range.

Pemex 'Indirect Expropriation' Bill Clears Hurdle Share your comments
Thursday, April 15, 2021Pemex's share of the gasoline and diesel market has fallen by double-digits with the arrival of competition.


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Exploration

Baker Hughes Counts More USA Oil Rigs Share your comments
Saturday, April 17, 2021Baker Hughes reported the total number of rotary drilling rigs operating in the United States grew by seven this week.

Who Wins if the USA Gulf of Mexico Loses Out? Share your comments
Wednesday, April 14, 2021Here is an overview of global regions that could benefit from GOM uncertainty stemming from the Biden administration's leasing moratorium.

BP Strikes Oil Offshore Louisiana Share your comments
Tuesday, April 13, 2021BP on Tuesday reported an oil discovery on Green Canyon Block 821.

Texas Regulator Issues Nearly 800 Drilling Permits Share your comments
Tuesday, April 13, 2021The Railroad Commission of Texas issued 798 original drilling permits in March 2021.

Kosmos Energy Appoints New Exploration Head Share your comments
Tuesday, April 13, 2021Kosmos Energy (NYSE, LSE: KOS) has announced that Tim Nicholson has been promoted to Kosmos Energy Senior Vice President and Head of Exploration.

North Sea Operator Kicks Off Drilling Campaign Share your comments
Tuesday, April 13, 2021IOG reported Monday that it has spud the first of five planned development wells in Phase 1 of its Core Project.

Vietnam 3D Seismic Survey Goes to Shearwater Share your comments
Tuesday, April 13, 2021Shearwater GeoServices will perform a 3D seismic survey in Vietnam with the SW Vespucci vessel. PHOTO SOURCE: Shearwater GeoServices


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Production

Gas Driller Calls for Federal Methane Leak Curbs Share your comments
Friday, April 16, 2021EQT Corp. is calling for stricter caps on methane leaks from natural gas wells.

A New Use for Orphaned Oil and Gas Wells? Share your comments
Friday, April 16, 2021It's an alternative to P&A for some idle wells that could still create work for oil and gas pros.

Newfoundland Crude Taking Rare Voyages Share your comments
Thursday, April 15, 2021It's an unexpected move prompted by the staggered global demand recovery.

Satellites to Track Emissions at Facility Level Share your comments
Thursday, April 15, 2021One non-profit plans to make high-emitting methane and CO2 sources publicly visible at the facility level.

Pioneer Chief Warns of OPEC+ Price War Risk Share your comments
Wednesday, April 14, 2021U.S. shale producers risk another oil-price war with OPEC and its allies if they resume the breakneck production growth, according to Pioneer Natural Resources.

BP Argos Platform Arrives in Texas Share your comments
Wednesday, April 14, 2021The platform that will serve as the centerpiece of BP's Mad Dog 2 project has completed its journey from South Korea to the USA.


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Finance and Investing

Petrofac Agrees $700MM Facility Extensions Share your comments
Thursday, April 08, 2021Petrofac announced Wednesday that it has extended $700 million of its banking facilities, at its request, with the unanimous support of lenders.

Shell to Make First Oil Output Profit Since Pandemic Share your comments
Wednesday, April 07, 2021Royal Dutch Shell Plc said it expects to make the first profit from pumping oil since the start of the pandemic.

BP Reaches Debt Goal Early Share your comments
Tuesday, April 06, 2021BP Plc said it already achieved its $35 billion net-debt target, reaching the threshold at which it has said it can restart share buybacks about a year earlier than expected.

Aramco Up as Saudis Prioritize Spend Over Dividend Share your comments
Wednesday, March 31, 2021Saudi Aramco rose the most in 10 months in Riyadh trading after the government allowed it to cut dividends and redirect the cash into new investments to fulfill the crown prince's economic plans.

California Driller Reaped Gains from Texas Freeze Share your comments
Friday, March 19, 2021California's largest oil producer emerged as the latest financial winner from last month's historic Texas freeze that left millions without heat or electricity for days.

McDermott Invests in Lummus Technology Share your comments
Wednesday, March 10, 2021McDermott International Ltd has announced that it has invested in Lummus Technology Holdings I LLC, which is a holding company of Lummus Technology.


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Company Operations

Trafigura Launching Carbon Trading Desk Share your comments
Sunday, April 18, 2021Trafigura Group Pte Ltd has revealed that it is launching a carbon trading desk.

Woodside CEO Retiring in June Share your comments
Friday, April 16, 2021Woodside has revealed that its board and chief executive officer, Peter Coleman, have agreed that Coleman will retire from the company on June 3.

Offshore Group Board Elects Duncan and Danos for Top Roles Share your comments
Thursday, April 15, 2021NOIA's board has elected its chairman and vice chairman for 2021-22.

Shell Urges Shareholders to Reject Activist Climate Plan Share your comments
Thursday, April 15, 2021The company called the climate resolution filed by a Dutch activist investor "redundant."

Ex-BP Chief Exec Joins Equity Firm Share your comments
Thursday, April 15, 2021General Atlantic has announced that Lord John Browne of Madingley has joined the firm as a senior advisor, based in London.

ADNOC Buys 2 Very Large Crude Carriers Share your comments
Wednesday, April 14, 2021ADNOC Logistics & Services (ADNOC L&S) has announced the acquisition of two additional Very Large Crude Carriers.


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