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U.S. crude futures closed modestly higher after OPEC+’s relatively harmonious decision to gradually raise supply and a bullish U.S. oil inventory report. View the full article
Global controls technology company Proserv Controls has received industrial sponsorship for its disruptive subsea cable condition monitoring system for the offshore wind segment, ECG, or Electro Cable Guard, from ScottishPower Renewables. View the full article
A new forecast of the energy transition from DNV has warned that even if all electricity was ‘green’ from this day forward, the world will still fall a long way short of achieving the 2050 net zero emissions ambitions of the COP21 Paris Agreement. View the full article
Greenpeace asked judges in Scotland’s Court of Session to overturn the government’s decision to grant BP a permit to drill for 30 million barrels of oil in the North Sea. View the full article
Damage to Port Fourchon, which services about 90% of output from U.S. Gulf deepwater oil and natural gas wells, is extensive and widespread, Chett Chiasson, executive director of the Greater Lafourche Port Commission said in an NPR interview Tuesday. View the full article
Damage to the Port Fourchon, which services about 90% of output from U.S. Gulf deepwater oil and natural gas wells, is extensive and widespread, Chett Chiasson, executive director of the Greater Lafourche Port Commission said in an NPR interview Tuesday. View the full article
The depreciation and uplift rules in the special tax for petroleum will be replaced by immediate expense recognition of investments, or cash flow tax, from 2022, Finance Minister Jan Tore Sanner told reporters in a snap press conference in Oslo. View the full article
The Texas oil refinery that Pemex is buying has racked up a rare net loss of about $360 million this year, adding to the challenges Mexico faces in seeking energy independence. View the full article
Norway, Western Europe’s biggest oil producer, has more than 50% of its recoverable resources still in the ground, according to the Norwegian Petroleum Directorate. The Barents Sea probably holds most of that, yet there’s only one oil field and one gas field currently producing. View the full article
The award extends the scope of energy cooperation between the UAE and Pakistan, which imports about 100,000 barrels of Emirati oil a day. Abu Dhabi sovereign fund Mubadala Investment Co. owns a stake in a refinery in Pakistan. View the full article
OPEC and its allies expect global oil markets will continue to tighten this year even as they revive output, but then flip into surplus again in 2022. View the full article
The Federal Trade Commission is examining ways to crack down on mergers in the oil and gas industry and investigate whether gas station franchises are driving up gas prices as part of a Biden administration effort to combat higher costs at the pump. View the full article
Oil headed for the biggest monthly loss since October as investors weighed the prospect of additional OPEC+ production and the restoration of crude output in the U.S. after Hurricane Ida. View the full article
About 95% of Gulf of Mexico oil production, and 94% of gas output had been shut-in as of Monday, according to the Bureau of Safety and Environmental Enforcement. View the full article
ChampionX announced that UNBRIDLED ESP Systems has introduced the SMARTEN PurePower Pro harmonic halter, a simple, cost-effective solution to effectively and efficiently manage harmonic distortion on local power grids throughout the life of unconventional oil wells. View the full article
U.S. gasoline futures jumped after Hurricane Ida barreled ashore in Louisiana, disrupting processing facilities. Oil reversed early gains as local rigs may have escaped significant damage and the OPEC+ producers’ cartel is expected on Wednesday to endorse a supply increase. View the full article
Recoverable volumes from Troll phase 3, which will produce the Troll West gas cap, are estimated at as much as 347 billion cubic meters of gas. Converted into oil equivalent this amounts to 2.2 billion barrels. View the full article
Sarawak Shell Berhad, a subsidiary of Royal Dutch Shell plc, announced that it has taken a final investment decision on the Timi gas development project and, together with its partners PETRONAS Carigali Sdn Bhd and Brunei Energy Exploration, look forward to delivering this for Malaysia. View the full article
Iraq’s regional allies stressed the need to provide support to an OPEC member struggling to rebuild after decades of ruinous wars, in a conference that also afforded a platform for meetings between longtime rivals. View the full article
Professionals and technologies demonstrating cutting-edge thinking and next-generation leadership from across the upstream oil and gas industry were selected as finalists in 18 awards categories. View the full article
After mooring lines installation in June, towing and hook up in July, Bourbon Subsea Services completed the offshore installation of the 3,6 MW TetraSpar Demonstrator Floating Wind Turbine at Metcentre Test site in Norway, by laying and connecting the power cable earlier this week. The wind turbine will be commissioned in the coming weeks. View the full article
OPEC and its allies are expected to press on with their planned revival of oil production when they meet next week, as prices bounce back from their August stumble. View the full article
A new study concluded that more than 2 million metric tons (MT) per year of CO2 can be removed from the atmosphere and injected safely into the earth at two ethanol plant sites in California. The study was commissioned by Aemetis, Inc., a renewable natural gas and renewable fuels company focused on below zero carbon intensity products. View the full article
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