RP Weekly Recap | January 11 – 15
Progress towards global decarbonization is quickly becoming one of the hottest topics in 2021 following the momentum experienced in 2020. Dozens of countries, multitudes of cities, and countless companies have announced their goals to achieve net-zero emissions on their path towards decarbonization by mid-century. The problem is, most of these announcements lack any specific path forward. As a part of this movement, the International Energy Agency announced that it will produce the world’s first comprehensive roadmap for the energy sector to reach net-zero emissions by 2050 as it further strengthens its leadership role in global clean energy transitions. But is the world prepared for such a transition as the clean energy infrastructure is clearly not yet capable of supplying reliable energy on a global scale as seen in the recent blackouts in China and California? Check out these stories and more in this week’s recap of all things happening in oil and gas!
- Number of Cases (Worldwide): 93,418,283 (up from 88,389,886 last week)
- Number of Cases (USA): 23,362,050 (up from 21,644,957 last week)
- Statistics courtesy of Johns Hopkins
Financial & Economic Updates
U.S. Oil Market News
- Noble Midstream Partners Adds Chevron Dedication in DJ Basin
- Governor: Wyoming Will Fight Any Biden Regulations On Energy
- EIA Raises 2021 Oil Price Forecasts
- Texas Gets $14 Billion In Taxes And Royalties From Oil & Gas In 2020
- Chevron Invests In Carbon Capture And Utilization Startup
- Exxon Mobil Stock Rises Again After J.P. Morgan Analyst Turns Bullish On Exxon For The First Time In 7 Years
- Exxon Draws SEC Probe Over Permian Basin Asset Valuation
- Colorado Lawmakers Considering New Fee On Gallon Of Gas To Boost Money For Roads
- Oil Prices Rally On Large Crude Draw Report From The EIA
- Oil Companies Lock In Drilling Permits, Challenging Biden On Climate
- Halliburton Deploys Industry’s First Electric-Grid Powered Frac First
- U.S. Puts Chinese Oil Giant CNOOC On Blacklist
- Biden’s First Fracking Test – Will he allow a proposed port for LNG to go through as planned?
- Fracking The Virus: How Oil And Gas Contribute To The Fight Against COVID-19 **MUST READ**
Global Market News
- IEA To Produce World’s First Comprehensive Roadmap To Net-Zero Emissions By 2050
- Chinese Cities Go Dark Amid Energy Spat With Australia
- India Oil Demand Falls For First Time In 21 Years Due To COVID-19
- Exxon’s Mega Oil Finds In Guyana Are Just The Beginning
- Total, Apache Make Yet Another Oil Discovery Offshore Suriname
- UAE Tells U.S. Shale Producers Not To Rush To Restore Production
- Total And Engie Plan France’s Largest Green Hydrogen Plant
- Saudi Crown Prince Announces Zero Carbon Smart City
- U.S. Sanctions Halve Iran’s Oil Revenues
- New Lockdowns In Europe Put The Brakes On The Oil Demand Rebound
- Venezuela Opens Up To Foreign Oil Investment
- Column: The World Needs More Canadian Oil And Gas, Not Less
- Russia Has Won Its Oil War With Saudi Arabia **INTERESTING READ**
- Visualizing China’s Dominance in Rare Earth Metals **MUST VIEW**
- Jobless Claims Soar by 181,000 as Coronavirus Runs Rampant – the number was way above economists’ forecasts
United States Rig Count
- UP 13 from last week for a total of 373
- Down 53.1% from one year ago
- Statistics courtesy of Baker Hughes
RARE PETRO Updates
Content Updates – News Pulse – Podcast
- Episode Ten of The Industry Leader Spotlight Podcast is available now! Be sure to check out our interview with dedicated oil and gas management guru, the founder and CEO of Denver-based Halker Consulting, Matt Halker!
- Episode 7 (Digital Reality) from our newest segment, the Modern Mobile Oilfield is available now! This series is a collaborative effort between world renowned author Geoffrey Cann and RP host Tavis Killian that will expand on topics covered in the book “Bits, Bytes, and Barrels”. This new segment is aimed at energy professionals at any level who are looking to better understand the future of a digital oilfield, and potentially implement these technologies into their company’s workflow. Be sure to watch or listen on all available platforms!
- A new episode of the Periodical Podcast is available now! Be sure to check out our discussion on why/how domestic E&P companies are driving away investors in the energy sector amongst a global pursuit for decarbonization.
- This week’s Periodical exposes the fact that E&P companies have driven away investors in the energy sector by not delivering returns amongst a global pursuit for decarbonization. While investor disenchantment within the United States oil industry isn’t new, it appears to have worsened with the COVID-19 market environment. From 2015 to 2016 at the start of the “lower-for-longer” downturn, the market seemed optimistic about the industry. By 2020, the double impact of the global pandemic and the Russia/Saudi price war seems to have led many investors to avoid oil stocks as they start seeking new opportunities. Moving forward into 2021 and 2022, capital will be difficult to source until investors feel comfortable that the industry can develop resources without squandering their money again.
- As Always, A New Monday Madness Podcast!
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