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Oil closed lower Thursday, yet its underlying market structure firmed, as investors assessed the challenges to a global economic recovery. View the full article
Spanish oil refiner Repsol SA plans to furlough 830 workers at two refineries, citing a combination of lower demand due to the pandemic and uncertainty caused by the transition to cleaner energy. View the full article
House Republicans plan to unveil their own plan to fight climate change later this month, according to three people familiar with the matter, a reflection of the pressure on the party to come up with solutions to a problem it had previously denied or ignored. View the full article
The sale consists of approximately 78,700 net acres, which are located in the southernmost portion of Hess’ Bakken position and not connected to Hess Midstream infrastructure. View the full article
President Joe Biden’s plan to eliminate subsidies claimed by oil and gas companies and raise levies on corporate polluters would increase government receipts by $35 billion over the coming decade. View the full article
The strategic alliance between Halliburton and Optime Subsea will jointly commercialize and deploy innovative and efficient subsea interventions and controls. View the full article
Occidental Petroleum Corp. praised OPEC and its allies for managing crude markets out of last year’s historic crash and said the U.S. shale industry is thankful for its efforts. View the full article
Shell’s upstream unit was able to capture “the upside from the current commodity price environment” in the first quarter, according to a statement April 7th. View the full article
With the U.S. unlikely to ever reach previous crude production levels, OPEC+ is moving to roll back part of their oil supply cuts in the coming months. View the full article
The American Petroleum released a new report examining how growth in cross-border petroleum trade between the United States and Canada has led to the further integration of North American energy markets, delivering economic benefits, lowering consumer energy costs and strengthening energy security on both sides of the border. View the full article
“A carbon tax would be bad for a lot of the industry, a carbon tax would be bad for the consumers and especially for those consumers who are more disadvantaged from an economic standpoint,” Occidental CEO Vicki Hollub said at a conference hosted by Texas Independent Producers and Royalty Owners Association. View the full article
The monthly Oilfield Services and Equipment Employment Report, compiled and published by the Energy Workforce and Technology Council, estimates a peak of 102,000 pandemic-related job losses. Since then, the industry has gained back more than 23,000 jobs. View the full article
The monthly Oilfield Services and Equipment Employment Report, compiled and published by the Energy Workforce and Technology Council, estimates a peak of 102,000 pandemic-related job losses. Since then, the industry has gained back more than 23,000 jobs. View the full article
VARD has secured contracts for the design and construction of three Service Operation Vessels (SOVs) for North Star Renewables in Scotland. The state-of-the-art hybrid trio will operate on the Dogger Bank Wind Farm in the North Sea. View the full article
The Wärtsilä system will enable a subsidiary of RWE Renewables, Hickory Park Solar, LLC, to sell nearly 200 MW of generation from the solar PV panels to Georgia Power Company. View the full article
North America’s biggest oil pipeline company, which for years has invested in wind and solar power projects, is also looking at gaining scale and becoming competitive in technologies such as hydrogen production using renewable electricity. View the full article
India has become a vocal critic of the kingdom’s hawkish stance on oil prices and OPEC+ output policy in recent months, with mounting tensions prompting the country to seek alternative sources of crude. View the full article
Oil prices showed signs of recovery in advance of multiparty negotiations taking place in Vienna later on Tuesday, though the chances of a breakthrough are seen by analysts as slim. View the full article
Following concerns that it is facilitating the sale of meaningless carbon credits to corporate clients, the Nature Conservancy says it’s conducting an internal review of its portfolio of carbon-offset projects. View the full article
Imports jumped 5.8% in March from a year earlier, the biggest increase since March 2020. Demand for the fuel used in heating and power generation had been steadily growing before Covid-19, as nations shift away from coal-fired power over climate concerns. View the full article
French oil major Total SE must continue to produce gas in Myanmar and pay taxes to the military junta to protect staff from forced labor and maintain electricity supplies, Chief Executive Patrick Pouyanne said in an op-ed in Le Journal du Dimanche newspaper. View the full article
Crude has rallied this year as vaccine rollouts help major economies reopen. The decision by the Organization of Petroleum Exporting Countries and its allies was seen as a vote of confidence in the outlook for energy demand. The U.S. also added more than 900,000 jobs in March, the most in seven months. View the full article
An estimated 10,000 people fleeing an insurgent attack in northern Mozambique have sought refuge in a village within the concession area of Total SE’s $20 billion natural gas project, with more still arriving, according to two people with direct knowledge. View the full article