Analysis & Trends News

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Denmark to End North Sea Oil Production
Friday, December 04, 2020Denmark, the European Union's biggest oil producer, will stop offering new licenses in the North Sea and phase out production altogether in 2050 as it takes an historic step toward a fossil-fuel free future.

Eni Enters Largest Offshore Wind Project
Friday, December 04, 2020Eni (NYSE: E) announced Friday that it has entered the world's largest offshore wind project with the acquisition of a 20 percent stake in the UK Dogger Bank (A and B) 2.4 gigawatt development.

OGA Launches Energy Hub Study
Friday, December 04, 2020The OGA has started work to identify the value the establishment of an energy hub at Bacton could lead to by hiring Progressive Energy to conduct an in-depth feasibility study.

Analysts Look at OPEC+ Deal
Friday, December 04, 2020Analysts from Wood Mackenzie and Rystad Energy take a look at the latest OPEC+ agreement.

Oil Rises Towards $50 After OPEC+ Deal
Friday, December 04, 2020Oil extended gains toward $50 a barrel after OPEC+ reached a compromise deal to gradually taper production cuts, ending days of uncertainty.

Brent Could Soon Incorporate American Crude
Thursday, December 03, 2020S&P Global Platts is considering adding a key U.S. crude grade to its North Sea benchmark.

World Gas Conference Delayed to 2022
Thursday, December 03, 2020The 28th World Gas Conference has been rescheduled to 2022 following a risk assessment on the impact of the Covid-19 pandemic by the International Gas Union.

Fire Breaks Out at Equinor Methanol Plant
Thursday, December 03, 2020Equinor (NYSE: EQNR) has announced that a fire with smoke development was reported on December 2 at 14:40pm in a compressor house at the methanol plant at Tjeldbergodden.

Fitch Solutions Raises Oil Price Forecasts
Thursday, December 03, 2020Fitch Solutions Country Risk & Industry Research has increased its Brent oil price forecasts to 2024, the company's latest oil price outlook has revealed.

OPEC+ Making Headway
Thursday, December 03, 2020OPEC+ is making headway in its negotiations on oil-output cuts, raising the odds that Thursday's meeting can salvage a deal after failed talks earlier in the week.

Petrobras Chief Likens Net Zero to Fad
Wednesday, December 02, 2020His stance more or less echoes ExxonMobil and Chevron's.

OGDCL Discovers Gas at Lakhirud X-1
Wednesday, December 02, 2020Oil and Gas Development Company Limited has discovered gas at exploration well Lakhirud X-1, which is located in the Musa Khel district in the Balochistan Province.

Shell Secures BHP LNG Supply Deal
Wednesday, December 02, 2020BHP revealed Tuesday that it has awarded Shell an LNG supply deal for five LNG fueled Newcastlemax bulk carriers.

Conoco Warns of 500 Houston Job Cuts
Wednesday, December 02, 2020ConocoPhillips may dismiss as much as one-fourth of its Houston headquarters staff as the largest independent oil explorer cuts costs and prepares for the takeover of Concho Resources Inc.

Seadrill Partners Files Chapter 11
Wednesday, December 02, 2020Seadrill Partners LLC announced Tuesday that it has filed voluntary petitions under chapter 11 of the Bankruptcy Code.

OPEC+ Works Silently to Repair Cracks
Wednesday, December 02, 2020After failed talks exposed a dangerous fissure at the alliance's core, OPEC and its partners are quietly working to repair the damage.

Oil Hungry Asia Lures 20 US Crude Carrying Tankers
Wednesday, December 02, 2020A fleet of around 20 tankers laden with U.S. crude oil is expected to leave for Asia this month as the region continues to outpace the rest of the world in its recovery from the Covid-19 pandemic.

Santos in 2040 Net Zero Target
Tuesday, December 01, 2020Santos Ltd (OTCMKTS: SSLZY) revealed Tuesday that it is targeting net zero emissions from its scope one and two activities by 2040.

LNG Canada CEO Writes Open Letter After Outbreak
Tuesday, December 01, 2020LNG Canada's chief executive officer, Peter Zebedee, has written an open letter following the confirmation of additional Covid-19 cases at the LNG Canada project site in Kitimat, B.C.

Crude Oil Tanker Crew Kidnapped
Tuesday, December 01, 2020Reporting indicates that the MV Agisilaos crude oil tanker has been boarded by an unknown number of people while underway in the Gulf of Guinea, resulting in the kidnap of four crew.

Exxon Faces Historic Writedown
Tuesday, December 01, 2020Exxon Mobil Corp. is about to incur the biggest writedown in its modern history.

What Happens if OPEC+ Doesn't Delay Supply Increase?
Tuesday, December 01, 2020If OPEC+ increases its production as planned from January, the world will have to face a new 200+ million barrel surplus through May, Rystad Energy calculates.

OPEC+ Talks Delayed as Split Deepens
Tuesday, December 01, 2020OPEC+ talks were delayed for two days to give ministers more time to reach a deal.

Overlooked Oil Traders Bet on Lower Crude Prices
Monday, November 30, 2020A group of oil traders whose positions are often overlooked by much of the market have quietly built up a huge bet on lower crude prices.

CNOOC Targeted by US
Monday, November 30, 2020China's third-biggest oil company faces a U.S. blacklist.

Analyst Looks at OPEC+ Developments
Monday, November 30, 2020Oil prices are falling today as news broke that there is no clear consensus yet among the OPEC+ alliance on how to proceed from January.

Aramco Signs MOUs with Several Companies
Monday, November 30, 2020Saudi Aramco (TADAWUL: 2222) announced Monday the expansion of its flagship program to increase local content and boost domestic supply chains.

EU Oil Cos Lead Way in Renewable Strategy
Monday, November 30, 2020European international oil companies are leading the way in terms of progressing strategies for renewable power growth, according to GlobalData.

Oil Down on Signs of OPEC+ Discord
Monday, November 30, 2020Oil dropped as a consensus within OPEC+ to postpone an output hike planned for January remained elusive ahead of a meeting of the cartel's power brokers later on Monday.

Oil Refining Center of Gravity Is Shifting
Sunday, November 29, 2020Here is a look back at some of Rigzone's most viewed downstream-related articles from the past week.

Seadrill Bags GOM Contracts and More
Saturday, November 28, 2020Here are some of Rigzone's top upstream stories during the last week, just in case you missed them...

KXL Indigenous Investors Plan to Get Financing by Q1
Friday, November 27, 2020The indigenous group seeking to buy a stake in TC Energy Corp.'s Keystone XL oil pipeline expects to secure financing by the first quarter of next year.

Libya Oil Comeback Has Legs
Friday, November 27, 2020Libya's oil industry, trampled by civil war and chaos, is roaring back.

More Positive Covid Cases at LNG Canada Project
Friday, November 27, 2020Northern Health Authority has confirmed additional positive Covid-19 cases at the LNG Canada project site in Kitimat, B.C, LNG Canada and JGC Fluor have revealed in a joint statement.

OPEC+ Calls Last Minute Talks
Friday, November 27, 2020Saudi Arabia and Russia summoned OPEC+ ministers who oversee their oil production cuts for last-minute talks on Saturday.

Oil Rally Stalls Amid OPEC+ Tensions
Friday, November 27, 2020Brent oil edged lower, but was on track for a fourth weekly gain, amid signs of division among OPEC+ members just days before a key policy meeting.

Natural Gas Helps to Shrink Energy Poverty Gap
Friday, November 27, 2020A recent industry report finds that natural gas can help to mitigate energy poverty in the United States.

BP to Invest More in Middle East Oil Fields
Thursday, November 26, 2020BP Plc said it will invest more money in Middle Eastern oil and natural-gas fields even as it transitions to renewable energy and tries to lower emissions.

Stronger Oil Curve Points to Cushing Glut Relief
Thursday, November 26, 2020Oil stockpiles at America's largest storage hub are set to unwind with the market showing real signs of strength for the first time since the pandemic crushed global demand.

Mexico Oil Executive Asked to Resign
Thursday, November 26, 2020A director at the trading arm of Mexico's state oil company was asked to resign after authorizing payments under a profit-sharing plan, according to a person familiar with the matter.

OPEC Watchers Expect 3 Month Supply Boost Delay
Thursday, November 26, 2020OPEC and its allies will likely delay a supply increase planned for January by three months, according to a survey of oil analysts, traders and refiners.

Saipem Supports Women Empowerment Principles
Thursday, November 26, 2020Saipem (BIT: SPM) revealed Thursday that it has signed a declaration of support for the Women Empowerment Principles (WEP) and the Manifesto for female employment of the Valore D association.

API and NABTU Urge Senate Action on NAC
Thursday, November 26, 2020The American Petroleum Institute (API) and North America's Building Trades Unions (NABTU) have urged the U.S. Senate to act on the National Apprenticeship Act.

Eni Pitches Supercomputer Against Virus
Thursday, November 26, 2020Eni (NYSE: E) has announced that its HPC5 supercomputer has run the most complex molecular computation test ever conducted in the world in order to identify new treatments against the virus.

Repsol to Rein in Oil Output and Boost Renewables
Thursday, November 26, 2020Repsol SA outlined its plans for a greener future, saying it intends to wind down the search for oil and expand its renewable capacity fivefold during the next decade.

Texas Upstream Job Count Rises Again
Wednesday, November 25, 2020Texas' upstream oil and gas sector added jobs for the second month in a row in October, TXOGA reported Tuesday.

Snam Sets Ambitious Zero Emissions Goal
Wednesday, November 25, 2020Italian gas pipeline operator Snam SpA set an ambitious net zero-emissions target for 2040 and raised guidance as it continues to invest in green energy and joint hydrogen projects.

Oil Price Comeback Seems Unstoppable
Wednesday, November 25, 2020The oil price comeback seems unstoppable since news of positive vaccine trials arrived.

OGA Launches Centralized Decom Data Location
Wednesday, November 25, 2020The UK Oil and Gas Authority has launched one centralized location for well data related to decommissioning.

IEF Condemns Jeddah Attack
Wednesday, November 25, 2020The International Energy Forum has condemned the attack on a fuel tank facility in Jeddah, Saudi Arabia.