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Royal Dutch Shell Plc’s Nigerian unit agreed to pay a community in the West African country more than $110 million to resolve a long-running dispute over an oil spill that occurred more than 50 years ago. View the full article
In the August Short-Term Energy Outlook, the U.S. Energy Information Administration forecasts larger than previously expected world petroleum inventory draws in 2021 and larger inventory builds in 2022. View the full article
The Biden administration called on OPEC countries and U.S. regulators to do more to ensure a stable energy supply, with a specific focus on retail gasoline prices that the President pledged to keep affordable. View the full article
Chesapeake has agreed to acquire Vine, an energy company focused on the development of natural gas properties in the over-pressured stacked Haynesville and Mid-Bossier shale plays in Northwest Louisiana. View the full article
Canadian oil production is more than two and half times domestic demand, yet the majority of crude oil demanded in the country arrives via the United States, according to a new analysis by IHS Markit. View the full article
Above-average withdrawals of natural gas from storage in the 2020–2021 winter heating season and below-average injections into storage this summer contributed to a forecast of below-average inventories of natural gas in the U.S., along with relatively flat dry natural gas production and high natural gas exports. View the full article
Futures tumbled 1.2% in New York Wednesday as CNBC reported that the White House contacted OPEC leader Saudi Arabia to help stabilize U.S. gasoline prices. View the full article
The contract is for the provision of RLWI services onboard the M/V Island Venture, C-I’s flagship intervention vessel commissioned in 2017. View the full article
The world’s largest oil companies are bidding up prices for renewable energy projects, squeezing profits from wind and solar farms just as climate planning focuses more on green energy sources. View the full article
Over 35% of the acreage available in licensing rounds that are either open or scheduled to close in H2 2021 are located in shallow water, while ultra-deep water and deepwater acreage account for 24% and 19%, respectively, according to GlobalData, a leading data and analytics company. View the full article
America's shale producers are continuing to the line on production, boosting investor returns and are now attracting the lowest bond yields they’ve ever seen. Instead of using cheap credit to boom once again, they’re using it to retire costlier debt. View the full article
Oceaneering International has been awarded a contract from Esso Exploration and Production Guyana Limited to provide two surveys offshore Guyana. View the full article
Driven by Baker Hughes’ Subsea Connect early engagement approach, Baker Hughes will provide Chevron with a subsea compression manifold structure including module and foundation, as well as the latest optimized version of its horizontal clamp connector system and subsea controls for the manifold structure. View the full article
GATE Energy has been selected by Shell Offshore as the provider for facility commissioning of the Whale development. Scope includes commissioning planning, onshore commissioning execution, and offshore commissioning / ready-for-startup services. View the full article
Tenaris has been awarded the supply of a complete package of products, technologies and services for the Libra offshore exploratory block - renamed Mero 3 - in Brazil’s pre-salt, one of the largest deepwater discoveries in the world. View the full article
A coalition of energy companies, along with state and local partners, plans to spend $844 million on roads, education, workforce development, housing, broadband and health care in the region, according to the Permian Strategic Partnership, which assembled the group. View the full article
Much of the progressives' anxiety around the $1T infrastructure bill has coalesced around support for carbon capture. Last month, hundreds of climate groups wrote an open letter calling on Biden to reject carbon capture as a “dangerous distraction” to eliminating fossil fuels entirely. View the full article
Troops from Mozambique and Rwanda retook a port town at the heart of a four-year insurgency that led to the suspension of a $20 billion project by TotalEnergies SE. View the full article
The Biden administration faces the sobering reality that returning to the Iran nuclear deal may no longer be feasible, as the Islamic Republic finds ways to cope with U.S. sanctions and races toward the capacity to build a bomb. View the full article
“Oil is seeing a continued loss of momentum, with sentiment taking a knock,” said Ole Hansen, head of commodities research at Saxo Bank A/S. “Most importantly, worries about the short-term demand outlook as governments respond to a surging delta variant” are weighing on the market. View the full article
Exxon Mobil was suspended from the Climate Leadership Council, a pro-carbon tax group backed by conservation groups and some of the world’s biggest corporations. The move comes just weeks after an Exxon lobbyist was secretly recorded by Greenpeace saying that the oil giant only voiced support for a carbon tax because it knew such a policy would be almost impossible to implement. View the full article
While there are several one-off factors that have pushed gas prices higher, such as supply disruptions, the global economic rebound and a lull in new LNG export plants, there is a growing consensus that the world is facing a structural shift, driven by the energy transition. View the full article
Shale drillers are showing so much financial self-discipline that next year’s oil-production forecasts may be in peril, according to Tudor, Pickering, Holt and Co. View the full article
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