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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
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. View the full article
The reopening of major economies has triggered a surge in commodity prices, with crude up around 40% this year. In the past two weeks, oil companies such as BP Chevron and Royal Dutch Shell have said they will increase share buybacks and payouts, confident the worst of the pandemic is over. View the full article
Saudi Arabia’s move to push up the cost of its oil in Asia may backfire as an outbreak of the delta virus variant in China damps demand, while the U.S. and Russia offer more competitively priced alternatives. View the full article
The natural gas industry should receive tax incentives similar to those provided for renewable energy projects, according to one of Texas’s top oil and gas regulators. View the full article
Russia is supplying more oil to the U.S. than any other foreign producer aside from Canada as American refiners scour the globe for gasoline-rich feedstocks to feed surging motor-fuel demand. View the full article
Brazil’s state-controlled oil company saw its earnings surge to a record for the second quarter, providing relief to investors who were rattled by a messy management change earlier this year. View the full article
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