Govt & Regulatory News

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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.

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.

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.

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.

UK Oil Sector Business Confidence Slashed
Wednesday, November 25, 2020Business confidence across the UK's oil and gas sector has been slashed, according to Aberdeen & Grampian Chamber of Commerce's 32nd oil and gas survey.

Oil Keeps Going Up on Demand Optimism
Wednesday, November 25, 2020Oil kept rising after closing at an eight-month high on increasing optimism that recent Covid-19 vaccine breakthroughs will lead to a swift recovery in global energy demand next year.

Angola to Sell Stake in National Oil Company
Tuesday, November 24, 2020The sale is part of a push by Africa's second-biggest oil producer to raise cash and jump-start a moribund economy.

TXRRC Commissioner Becomes IOGCC Vice Chairman
Tuesday, November 24, 2020Texas Railroad Commissioner Wayne Christian has been selected to be the Vice Chairman of the Interstate Oil and Gas Compact Commission.

Noble Shares Reorganization Update
Tuesday, November 24, 2020Noble Holding Corporation plc (OTC-PINK: NEBLQ) announced Monday that the United States Bankruptcy Court for the Southern District of Texas has issued an order approving the company's joint plan of reorganization.

Aramco Says No One Hurt in Blast
Tuesday, November 24, 2020Saudi Aramco needed about 40 minutes to put out the fire caused by a missile strike on a fuel depot in the Red Sea city of Jeddah.

Oil Prices Start Week on a Positive Note
Tuesday, November 24, 2020Oil prices started the week on a positive note, capitalizing on recent Covid-19 vaccine news.

Oil Highest Since March on Vaccine and Biden News
Tuesday, November 24, 2020Oil traded at its highest level since March as markets broadly rallied on the start of the U.S. presidential transition process and with the demand outlook strengthening after a string of positive vaccine breakthroughs.

Abu Dhabi Okays $122B Oil and Gas Spending Plan
Monday, November 23, 2020The UAE is boosting investment to make good on pledges to increase output capacity, even as it struggles against OPEC+ restrictions on supply.

China to Take US Oil Refining Crown
Monday, November 23, 2020America has been top of the refining pack since the start of the oil age in the mid-nineteenth century, but China will dethrone the U.S. as early as next year, according to the International Energy Agency.

Wintershall Dea Sets Net Zero Target
Monday, November 23, 2020Wintershall Dea aims to achieve net zero emissions on its upstream activities by 2030.

Oil Up on US Vaccination Optimism
Monday, November 23, 2020Oil pushed higher after closing at the strongest level since early September as signs that Covid-19 vaccinations in the U.S. could be underway within three weeks improved the demand outlook.

OGUK Explores Decom in a Low Carbon Future
Sunday, November 22, 2020Industry body Oil & Gas UK is exploring decommissioning in a low carbon future in its first virtual conference on November 24-25.

Aramco Awards Major Deals and More
Saturday, November 21, 2020Here are some of Rigzone's top upstream stories during the last week, just in case you missed them...

OGA Highlights Benefit of UK Energy Integration
Friday, November 20, 2020Integrating energy systems could deliver around 30 percent of the carbon reduction needed to meet the UK's 2050 net zero target, according to a new report from the UK Oil and Gas Authority.

Halliburton to Set Emission Reduction Targets
Friday, November 20, 2020Halliburton Company (NYSE: HAL) announced Thursday its commitment to set science-based targets to reduce greenhouse gas emissions.

Oil Set for Weekly Gain on Vaccine Optimism
Friday, November 20, 2020Oil is poised for a third weekly gain in New York as positive Covid-19 vaccine developments outweighed concerns about more restrictions stemming from a global surge in infections.

Norway Opens More Arctic Areas to Oil Sector
Friday, November 20, 2020Norway is offering fresh exploration licenses in the far north less than a week after the Supreme Court finished hearing an appeal over earlier Arctic permits.

Shell Takes Top Bid Spot for Offshore Lease Sale
Thursday, November 19, 2020The auction generated $120,868,274 in high bids for 93 tracts covering approximately 79 million acres in federal GOM waters.

Petronas Calls for Stronger ET Collaboration
Thursday, November 19, 2020Petronas has called for a stronger collaboration among ASEAN governments, energy players and the public and private sectors.

Eni Tops Corporate Human Rights Benchmark
Thursday, November 19, 2020Eni (NYSE: E) has been ranked joint first in the World Benchmarking Alliance's Corporate Human Rights Benchmark (CHRB).

McDermott Secures $560MM in New Capital
Thursday, November 19, 2020McDermott International has announced that it has secured approximately $560 million in new capital through a series of transactions expected to close by the end of the year.

UAE Escalates OPEC Dispute
Thursday, November 19, 2020The United Arab Emirates ratcheted up tension with oil allies in OPEC+, with officials privately questioning the benefits of being in the producers' alliance.

Oil Steady Amid Virus Measures and OPEC+ Dispute
Thursday, November 19, 2020Oil was steady near a two-month high as investors weighed tighter U.S. restrictions to curb the virus spread and emerging cracks in the united front put up by OPEC+ as it struggles to manage the market.

Greenpeace Applauds UK Plan to End Internal Combustion Engine Car Sales
Wednesday, November 18, 2020Boris Johnson on Wednesday unveiled a sweeping package of measures designed to zero out Britain's greenhouse gas pollution by mid-century.

Saudi Arabia Seeks to Become Top Hydrogen Exporter
Wednesday, November 18, 2020The world's biggest oil exporter has set its sights on also becoming the largest supplier of hydrogen.

Feds Propose 2021 Offshore Lease Sale
Wednesday, November 18, 2020BOEM on Tuesday proposed offering approximately 78.2 million acres for a March 2021 region-wide GOM lease sale.

OPEC Revises 2020 Oil Demand Forecast
Wednesday, November 18, 2020OPEC has lowered its 2020 oil demand forecast to -9.8 million barrels per day.

Oil Up as Stockpile Gain Offset by Stronger Asia Demand
Wednesday, November 18, 2020Oil rose toward $42 a barrel in New York as signs of a robust demand recovery in Asia offset a jump in U.S. crude stockpiles.

Aramco Kicks Off Bond Sale
Tuesday, November 17, 2020Saudi Aramco kicked off a jumbo bond sale Tuesday to help fund a $75 billion dividend, returning to the debt markets for the first time since April of last year.

How Much Oil and Gas Has Been Found in 2020?
Tuesday, November 17, 2020Global conventional oil and gas discoveries already exceed eight billion barrels of oil equivalent, according to a new Rystad Energy analysis.

Oil Steady After Rising on Vaccine Progress
Tuesday, November 17, 2020Oil was steady near $41 a barrel with investors weighing news of another Covid-19 vaccine breakthrough as OPEC+ moved closer to delaying a planned easing of output cuts.

British PM Eyes Banning Gasoline and Diesel Car Sales
Monday, November 16, 2020UK Prime Minister Boris Johnson is weighing controversial proposals to ban the sale of new petrol and diesel cars within a decade.

Gulfport Energy Files Chapter 11 Bankruptcy
Monday, November 16, 2020Gulfport Energy filed for bankruptcy, joining a slew of US oil and gas companies that are collapsing after the pandemic deepened their struggle with low prices and too much debt.

Saudi Aramco Eyes Debt Market to Support $75B Dividend Payout
Monday, November 16, 2020Saudi Aramco is set to return to the bond markets for the first time since April of last year as it seeks to fund a $75 billion dividend commitment.