The Archives
OilPrice.com | Africa’s Largest Oil Refinery Moves Closer to Start-up
The Dangote Refinery in Nigeria, Africa’s biggest, is expected to receive on Friday its first of several cargoes of crude oil that would enable it to begin initial runs, the Dangote group said in a statement seen by Reuters.The refinery, which has been...
Rigzone | Australia oil and gas producers Woodside and Santos in merger talks
Bloomberg/Contributor | Bloomberg | Getty ImagesShares of Australia's Santos jumped to a five-week high on Friday on news the company is in talks to merge with Woodside Energy.Santos and Woodside Energy, two of Australia's largest oil and gas producers, have...
Rigzone | Exxon CEO dismisses worries FTC could hold up Pioneer deal
Darren Wood, CEO of Exxon Mobil, speaking on CNBC's Squawk on the Street on Dec. 7th, 2023. CNBCExxon Mobil CEO Darren Woods on Thursday dismissed worries that the Federal Trade Commission could hold up the oil giant's pending acquisition of Pioneer Natural...
OilPrice.com | Russia and Saudi Arabia Call On OPEC+ Members to Join Production Cuts
Russia and Saudi Arabia are calling on all other OPEC+ producers to join the production cuts, the Kremlin said after Russian President Vladimir Putin met with Saudi Crown Prince Mohammed bin Salman in Riyadh.The two leaders of the top OPEC+ producers stressed...
Enverus | OFS firms hope Haynesville rebound won’t wait for LNG wave
While the Haynesville has been responsible for much of 2023’s woes for U.S. oilfield services contractors, they appear convinced that the worst is over. Still, no one expects a full rebound until new LNG export capacity on the U.S. Gulf Coast comes online. The...
Rigzone | The top 10 things to watch in the stock market Wednesday
The 10 things to watch Wednesday, Dec. 6 1. U.S. stocks are higher in premarket trading Wednesday, with S & P 500 futures up 0.45% after back-to-back days of losses. The move comes amid increasing signs the labor market is loosening, suggesting the Federal...
OilPrice.com | Trans Mountain Oil Pipeline Faces Yet Another Delay
The Trans Mountain Expansion Project could face fresh delays after the Canadian regulator denied a variance request from the project developer to move a small section of the pipeline due to challenging drilling conditions.The Canada Energy Regulator (CER)...
Rigzone | Oil CEO rejects fossil fuel industry to blame for the climate crisis
DUBAI, United Arab Emirates —The chief executive of UAE-based energy firm Crescent Petroleum on Tuesday claimed that blaming the oil and gas industry for the climate crisis "is like blaming farmers for obesity."His comments come at the mid-point of the U.N.'s...
OilPrice.com | Share of India’s Non-Fossil Fuel Power Capacity Rises to 44%
Energy sources other than fossil fuels made up 44% of India’s electricity generation capacity as of the end of October, the country’s Power and Renewable Energy Minister R K Singh told lawmakers on Tuesday.“So far, a total of 186.46 GW (gigawatts) capacity from...
FNB | ‘Greenhushing’ and ‘green bleaching’ blur sanctions targets – watchdog
The lack of a binding legal definition for greenwashing presents a hurdle to regulators tackling investment funds that exaggerate their sustainability credentials, a global securities watchdog said in a report on Monday.Trillions of dollars have flowed into...
OilPrice.com | Rockefeller Foundation Backs Coal Phase-Out via Carbon Credits
The Rockefeller Foundation is backing the world’s first coal-to-clean pilot project in the Philippines that will use carbon credits to enable early decommissioning of a coal-fired power plant. The Coal to Clean Credit Initiative (CCCI), which has support from...
Rigzone | Venezuelans vote to claim sovereignty over part of oil-rich Guyana
President of the Bolivarian Republic of Venezuela, Nicolás Maduro, gestures as he speaks after the National Electoral Council published the results of the consultative referendum on Venezuelan sovereignty over the Essequibo, in Caracas, on December 3, 2023....
CNBC | A fossil fuel fight takes center stage at the COP28 climate summit
Sultan al-Jaber, president of the UNFCCC COP28 climate conference, speaks during day two of the summit on Dec. 2, 2023 in Dubai, United Arab Emirates.Sean Gallup | Getty Images News | Getty ImagesDubai, UNITED ARAB EMIRATES — A fight over the future of fossil...
OilPrice.com | Is the Global Energy Transition Simply Too Expensive?
The energy transition has been estimated to cost more than $100 trillion by 2050. In fact, according to the calculations of the Energy Transitions Commission, a grouping of business leaders, it will cost $110 trillion.That would translate into $3.5 trillion...
OilPrice.com | COP28: Policymakers Should Focus on Energy Tech
The Cop28 climate summit has opened in Dubai, yet it is already clear that the world is not on track to meet the climate change targets that governments set themselves in Paris in 2015. In strictly numerical terms therefore, Cop28 will be a failure, like all...
Rigzone | Saudi Arabia is struggling to boost oil prices, raising possibility of supply war with U.S.
OPEC is facing growing challenges in its efforts to boost oil prices amid record output outside the alliance, particularly in the U.S., raising questions about how long the group can maintain its deep production cuts. OPEC and its allies, OPEC+, failed to reach...
OilPrice.com | Brazil Won’t Cap Its Oil Production Despite Joining OPEC+ Group
Brazil, which is set to join the OPEC+ alliance in January, will not have any quota and will not participate in oil production cuts, Jean Paul Prates, the chief executive of Brazilian state-controlled oil giant Petrobras, told Reuters in an interview published...
Rigzone | Oil prices set to rise in 2024 after OPEC+ voluntary cuts
Processing towers stand at the RN-Tuapsinsky refinery, operated by Rosneft Oil Co., in Tuapse, Russia, on Monday, March 23, 2020.Andrey Rudakov | Bloomberg | Getty ImagesOil prices are expected to rise in the new year after some OPEC+ oil producers voluntarily...
Rigzone | Riyadh to extend 1 million-barrel-per-day cut as OPEC+ holds policy
The logo of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, on Thursday, July 6, 2023.Bloomberg | Bloomberg | Getty ImagesThe influential Organization of the Petroleum Exporting Countries coalition and its allies, collectively...
OilPrice.com | Consumer Reports: EVs Are Less Reliable Than Gasoline Cars
U.S. owners of electric vehicles have been experiencing on average more problems with their cars than the owners of vehicles with the traditional internal combustion engines, Consumer Reports said in its annual ranking of brand reliability. This year, Lexus,...
Rigzone | OPEC+ producers to head into meeting amid quota dispute
Saudi energy minister Abdulaziz bin Salman on Oct. 5, 2022.Bloomberg | Bloomberg | Getty ImagesThe influential Organization of Petroleum Exporting Countries and its allies, collectively known as OPEC+, convene to decide next production policy steps on Thursday,...
OilPrice.com | Oil Prices Extend Gains as Market Awaits Key OPEC+ Meeting
Oil prices extended gains early on Wednesday as a storm continues to disrupt crude loadings in the Black Sea and the market awaits news about the next move from OPEC+ set to hold a meeting on Thursday.As of 8:50 a.m. ET on Wednesday, the U.S. benchmark, WTI...
Rigzone | Elliott takes $1 billion stake in Phillips 66, seeks two board seats
Elliott Investment Management has taken a $1 billion stake in Phillips 66 and is seeking as many as two board seats in a push to improve the company's performance, according to a Wednesday letter from the activist investor.Phillips 66's stock rose more than 4%...
Enverus | DOE Hydrogen Hub Winners | Enverus
Alex Nevokshonoff Alex joined Enverus in April of 2022 as a member of the CCUS team before shifting coverage to Low Carbon Fuels with an initial emphasis on hydrogen. He holds a degree in mechanical engineering from the University of Calgary, which he earned in...
Enverus | From insights to injections: CCS Class VI permit applications surged 500%
CALGARY, Alberta (Nov. 28, 2023) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS platform, has released a new report analyzing data from its updated Class VI permit tracker, which includes new entries such...
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