Blog

February 27, 2024

The Ohio Oil and Gas Land Management Commission recently authorized the grant of mineral rights to a number of oil and gas enterprises, paving the way for these corporations to utilize hydraulic fracturing, commonly known as fracking, to extract oil and gas deposits. This move signifies an endorsement of the burgeoning fracking industry in Ohio, […]

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February 27, 2024
Canadian Manager Optimistic on Global Oil Industry

As signs of a slowdown in oil demand emerge, a Canadian portfolio manager maintains a bullish outlook on the global oil industry. He believes that while current trends may imply a reduced appetite for oil, there are still a number of reasons to be optimistic about the industry's future. 1. Despite signs of a slowdown […]

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February 27, 2024
Oil Firms Denied Transfer of Maryland Climate Suit

In a decisive ruling, oil and gas giants, BP PLC and Exxon Mobil Corp., alongside numerous other companies in the sector, were served a setback in their efforts to transfer an Anne Arundel County, Maryland, climate lawsuit to a more favorable federal court. The inability to move the case signifies a pivotal moment, highlighting the […]

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February 27, 2024
Ohio Commission Grants Mineral Rights to Oil and Gas Firms

In a recent move sparking widespread discussions, The Ohio Oil and Gas Land Management Commission has granted the mineral rights to several oil and gas companies. The decision is a significant one as it directly affects the future course of the energy sector in the region (AP Photo/Samantha Hendrickson). With the bestowed rights, these companies […]

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February 27, 2024
Oil Industry Trade Group Intends to Sue Over Biden's Pause on Approvals

On Friday, the oil industry's prime trade group positioned itself for a possible lawsuit, seeking to challenge the Biden administration. This follows the recent move of the administration to temporarily suspend the approval of new oil and gas leases on federal lands - a decision that is currently causing upheaval within the industry. 1. The […]

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February 27, 2024
Ohio Commission Approves Fracking in State Parks

In a move drawing intense criticism, an Ohio commission has approved bids to commence fracking for oil and gas underneath state parks on Monday. This decision made in Columbus, Ohio, emerges against a backdrop of widespread pushback from citizens and ongoing legal battles against such initiatives, yet it appears the commission has proceeded undeterred. 1. […]

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February 27, 2024
Ohio Awards Fracking Bids for State Parks Amid Controversy

In a controversial move, an Ohio commission has granted bids to begin fracking for oil and gas in state parks, inciting widespread criticism from residents across the state. This decision comes amidst an ongoing investigation into potential ecological and environmental impacts of such activities. Despite the backlash, the permits will allow for the extraction of […]

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February 27, 2024
Global Energy Trading Houses Gear Up for Annual Meeting

On the Nasdaq, London-based global energy trading houses are buzzing with anticipation as they ready themselves for their most significant annual industry event this week. As these leading organizations gather in the British capital, they are set to strategize, network, and delve into discussions about the future of the energy sector. The bustling streets of […]

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February 27, 2024
Ohio Grants Fracking Rights to Multiple Oil and Gas Companies

The Ohio Oil and Gas Land Management Commission has recently greenlighted the extraction of fossil fuels, by granting mineral rights to several oil and gas companies named. With the necessary legal permissions now secured, these firms have the go-ahead to employ the controversial method of hydraulic fracturing, also known as fracking, to tap into unreached […]

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February 27, 2024
Next Upstream Oil, Gas M&A Phase Underway for Growth

The upstream oil and gas industry is entering a pivotal phase of mergers and acquisitions (M&A), as businesses strive to secure and optimize their growth strategies for the next decade and beyond. This significant component of the industry’s development comes as companies seek new and innovative ways to navigate the complex landscape of the energy […]

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February 27, 2024
Oil and Gas Industry Leaving Radioactive Sites

In certain locations worldwide, the relentless quest for energy has sparked an alarming trend. The oil and gas industry, in its wake, is leaving a trail of harmed landscapes, blighted by industrial sites that are not only environmentally damaging but also dangerously radioactive. A prime example of such an occurrence is seen in the city […]

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February 27, 2024
Oil and Gas Exploration Projects Seeking Workers

The realm of oil and gas exploration continues to hustle and bustle with projects, despite the hiring companies maintaining anonymity. Out of an array of available endeavors, it is intriguing to note that four out of five projects bear explicit descriptions showering light on their distinguished specifications. The fifth one, however, holds its cards closely […]

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February 27, 2024
Libya Oil Field Shutdown and Strikes Boost Prices

In the latest turn of events, oil prices have seen a significant boost. This increase in prices has been spurred by a temporary halt in exports from a western Libyan oil field over the weekend. Complementing this, the US and its allies have ushered a surge in strikes, causing disruptions and escalating tensions in the […]

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February 27, 2024
APA to Invest up to $2B in Oil, Gas Capital by 2024

In 2024, APA Corporation is said to make a substantial investment of around $1.9 to $2 billion in the upstream oil and gas capital sector. The company has unveiled its long-term vision by outlining a direction to inject a capital of $100 million into strategic ventures within this sector. This considerable flow of investment signifies […]

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February 27, 2024
US Oil, Gas Lobby Protests Biden's LNG Pause

In recent developments, the US oil and gas industry has fired back at the Biden administration's reported pause on LNG (liquefied natural gas) exports, marking new tensions in the ongoing energy policy debates. The powerful lobby, representing major fossil-fuel producers, accuses the White House of stifling the nation's energy independence and the global transition towards […]

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February 27, 2024
Iraq's Potential to Be Top Petrochemical Exporter

There seems to be zero logical obstacle in the way of Iraq, as it possesses the potential to transform into a global frontrunner in the exportation of petrochemicals. This belief stems from its vast oil and gas resources which present an immense potential for growth. Home to one of the world's largest and most underutilized […]

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February 26, 2024
Lansdowne Oil & Gas: North Celtic Sea Exploration Focus

Lansdowne Oil & Gas (LOGP.LN), a dynamic player in the oil and gas exploration industry, primarily concentrates its operations in the North Celtic Sea. This company engages in the unearthing and evaluation of oil and gas reserves, adopting cutting-edge technology and innovative approaches to enhance efficiency. Listed on the AIM market, Lansdowne Oil & Gas […]

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February 26, 2024
Falcon Oil & Gas Achieves Success at Shenandoah South 1H Well

In an exciting development for Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG), the company has announced a significant milestone on 26 February 2024. The Shenandoah South 1H (SS-1H) well in EP117 has achieved a landmark accomplishment, pushing the boundaries of their oil and gas exploration and extraction activities. This progress stands as a […]

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February 26, 2024
Oil and Gas Industry Seeks Aircraft Market Return

In a move signaling renewed momentum, various players in the oil and gas industry have expressed their desire for the reintroduction of certain aircraft to the market. These sentiments stem from the major investments that have been funneled into the industry, including the development and continuous retrofit of new innovative technologies. The bolstering of efficiency […]

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February 26, 2024
Non-renewable Energy Sources: Limited and Harmful

The subject of renewable energy sources has become a pressing issue in the global battle against climate change. Fundamental reasons underscore the urgency; one conspicuous concern being the impermanence of non-renewable fuel reserves such as oil and gas. As these resources deplete, the need to find alternative, sustainable energy sources escalates to avoid a potential […]

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February 26, 2024
Peak Oil Consumption Predicted Within a Decade

While influential organizations like the International Energy Agency predict that peak oil consumption will be observed within the upcoming decade, there are various factors to consider as the world navigates towards this potential reality. The shift involves examining changing industrial infrastructures, fluctuating global economies, environmental concerns, and technological advancements in renewable energy. Understanding and anticipating […]

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February 26, 2024
Oil and Gas Sector Revived by Pandemic Recovery, Ukraine Conflict

The unprecedented global events of the last two years have provided somewhat of a lifeline to an industry that was steadily diving into decline. The Coronavirus pandemic recovery, coupled with the unexpected Russian invasion of Ukraine, unexpectedly revived the fortune of the oil and gas sector, albeit temporarily. This reversal of fate is a noteworthy […]

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February 26, 2024
Libya Oil Field, Italy Gas Link Reopened After Protests

(Bloomberg) – Activities have resumed in a western Libya oil field and a natural gas pipeline that links to Italy, following a brief suspension instigated by protester interference. The disruptions had momentarily stymied operations at these vital energy sites before demonstrators opted to withdraw, allowing normal operations to promptly resume. The situation highlights the delicate […]

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February 26, 2024
Federal Probe Finds McCown Underreported Oil Gas Production

In an ongoing investigation, federal authorities have raised allegations against Teresa McCown for consistently underreporting oil and gas output from specific lands over a period of years, starting in 2017. The authorities have found evidence that indicates a calculated pattern in the lower than actual production data, which has potentially led to significant financial discrepancies. […]

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February 26, 2024
Durr NDT's Inspection Equipment Boosts Oil & Gas Quality

In today's oil and gas industry, ensuring stringent levels of inspection is paramount, but the challenge lies in achieving the desired quality sustainably and efficiently. Durr NDT, a leading provider of non-destructive testing solutions, has designed advanced equipment that proves to be a game-changer in this aspect. In the following discourse, we delve into an […]

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February 26, 2024
Baker Hughes Releases Rotary Rig Counts for Petroleum Industry

Baker Hughes, a renowned name in the petroleum industry, has been providing rotary rig counts to the sector for years. These counts are crucial in the operations of Oil and Gas Well Drilling. Moreover, Baker Hughes extends its expertise beyond the petroleum sector, venturing into diverse fields. Among these is the process of Protein Purification, […]

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February 26, 2024
Oil Industry Meeting Focuses on UK IE Week

This week, key players from the oil industry gather for the much-awaited International Energy Week (IE Week) in the UK. Among the main topics of the agenda are the escalating exports of Liquefied Natural Gas (LNG), unexpected pauses in operations, and the state of the crude oil market. Participants are keen to follow the Dated […]

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February 26, 2024
PFG Protest Halts Wafa Oil Field Operations Temporarily

The Petroleum Facilities Guard (PFG) protest that temporarily shut down operations at the Wafa oil field and Al Zawiyah terminal on February 25 has finally come to an end. This action was taken by the PFG members demanding better wages and was concluded after successful salary negotiations with the government. Despite the temporary halt in […]

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February 26, 2024
Bozhong Now Largest Metamorphic Rock Oil Field

Exciting developments have emerged from the energy sector as an additional 40 million cubic meters of gas (MMcmg) have been discovered in the Bozhong oil field. This discovery boosts Bozhong's proven reserves to an astounding 200 MMcmg. Consequently, Bozhong now holds the title for the vastest metamorphic rock oil field in the world. 1. An […]

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February 26, 2024
Montana-Dakotas BLM Opens Public Comment on Oil, Gas Projects

The Bureau of Land Management (BLM) Montana-Dakotas State Office announced today the commencement of a 30-day public comment period. The objective is to gather public input on 27 proposed oil and gas projects. Citizens, environmentalists, and interested parties are being invited to contribute their thoughts, concerns, and recommendations to help shape the future of energy […]

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February 26, 2024
Tristan Goodman Leads Canadian Oil & Gas Lobby Group

Tristan Goodman, the esteemed chief executive of the Explorers and Producers Association of Canada (EPAC), is at the helm of a national lobby group that represents the interests of the country's trailblazing oil and gas entrepreneurs. EPAC’s mandate is to advocate for, and advance the cause of the businesses and individuals who are at the […]

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February 26, 2024
2022's Biggest Climate Disaster Happened Where?

If you were to question the average American about where they would expect to see the country's most significant climate disaster occur in 2022, chances are their answer would be Texas. As one of the states that often bear the brunt of extreme weather conditions, Texas appears to be a reasonable guess. However, this perceived […]

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February 26, 2024
Oil and Gas Producers Avoid Tax Hike Again

In a recent communiqué, it was illuminated how oil and gas producers are poised to navigate yet another legislative session unscathed, without facing any tax increase or the introduction of any new or enhanced regulatory measures. This underlying message reflects the industry's continuing ability to leverage its influence and protect its interests, while other sectors […]

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February 26, 2024
Activists Target Banks Funding Oil and Gas Industry

Increasingly, critics of fossil fuel industries are not just focusing their efforts on companies directly involved in the extraction and use of oil and gas, but also targeting associated industries that indirectly support their operations. These so-called 'proxy industries' such as banking, which provides crucial financial backing to these fossil fuel giants, have come under […]

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February 26, 2024
Libya Oil Field, Gas Link to Italy Restart Operations

Operations have restarted at an oil field in western Libya and a crucial natural gas link to Italy, following a brief cessation. This resumption in activities has been prompted by the withdrawal of protesters from these facilities. The temporary stoppage was a reaction to growing concerns arising from ... 1. Operations have resumed at an […]

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February 26, 2024
Axess Group, GLASS Form Joint Venture Axess Glass Inc.

Axess Group, a global provider of innovative technology and services, has joined hands with Guyana Logistics and Support Services Inc. (GLASS) to form a new entity called Axess Glass Inc. This collaboration marks a key step for both companies as they dive into a joint venture agreement, with aims to offer advanced solutions in their […]

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February 26, 2024
Exploring Enhanced Oil Recovery in Carbonate Reservoirs

This research delves into the various methodologies employed for enhanced oil recovery (EOR), specifically targeting carbonate reservoirs, which account for over 60% of the total oil discoveries worldwide. This encompasses a comprehensive analysis of strategies and their efficacy, aimed at optimizing the extraction process and maximizing the output from these reservoirs. These findings hold significant […]

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February 26, 2024
OPEC's Measures and Energy Transition Impact Red Sea Oil Rates

In the world of oil production and energy transformation, the Red Sea region has recently been a focal point of significant change and interest. Last year saw the previously unrestrained rates of oil effectively bridled, primarily due to OPEC and its allies incorporating new strategies that notably kept vast quantities of oil off the international […]

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February 26, 2024
Company Posts $22M Net Income for the Quarter

In its recent financial disclosure for the quarter, the Company reported a net profit of $22 million. This translates to a gain of $0.04 per diluted share, presenting a solid financial period for the organization. However, these figures undergo notable changes when adjusted for specific, impactful items, which we will delve into further. 1. The […]

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February 26, 2024
Shenandoah South Well Hits Commercial Flow Rate of 3.2 MMcf/d

Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) has revealed exciting updates regarding its operations in the Shenandoah South 1H (SS-1H) well located in EP117. The company reports that this operation has achieved a significant milestone, reaching a commercial IP30 flow rate of 3.2 Million cubic feet per day (MMcf/d). These figures point to […]

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February 26, 2024
Libyan Protests Regularly Disrupt Energy Infrastructure

Protests in Libya have been a recurrent cause for concern, often resulting in disrupted energy infrastructure and its consequent impact on output. The gravest incident was observed at the country's largest oil field, Sharara, which underwent a prolonged period of force majeure, a standard clause in contracts that essentially provides relief from obligation due to […]

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February 26, 2024
Jersey Oil Finalizes Farm-Out Deal with Serica Energy

Jersey Oil and Gas PLC (AIM:JOG, OTC:JYOGF), a leading UK hydrocarbon exploration company, confirmed today that it has completed its greatly anticipated farm-out transaction with Serica Energy. This move is expected to set the course for both the companies as this significant deal marks a new chapter in their prospective ventures. The completion of the […]

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February 26, 2024
China's Base Metals, Steel Inventories Rise

The past week has witnessed a surge in base metals and steel inventories in China, indicative of a slowdown in demand and a steady supply chain in the near-term future. This trend signals a potential shift in the economic dynamics within the country's massive industrial sector, providing a critical insight into market trends and consumption […]

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February 26, 2024
PFG Shuts Down Field and Terminal Due to Unpaid Salaries

In a severe blow to the Libyan energy sector, Petroleum Facilities Guards (PFG) has shut down a 37,000 barrels per day (b/d) field and export terminal due to a dispute over unpaid salaries. This closure adds further pressure to an already strained sector that has been plagued by protests and disruptions affecting oil and gas […]

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February 26, 2024
BASF, LetterOne to Retain Ownership Stakes

The German chemical behemoth, BASF, and LetterOne, an investment conglomerate steered by Russian mogul Mikhail Fridman, have announced their resolution to maintain their equity stakes in their respective holdings. This decision comes amidst a period of ongoing market fluctuations, underlining the firms' confidence in their long-term strategic investments. 1. German chemical company BASF and investment […]

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February 26, 2024
Chinese Oil Markets Boosted by Lunar New Year Travel Boom

The future appears increasingly promising for Chinese oil markets following an unexpected upsurge in travel during the Lunar New Year festivities. This sudden travel boom has sparked off a wave of optimism for a more sustained recovery and more robust demand for oil, igniting hopes for an industry still trying to rebound from the blows […]

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February 26, 2024
ExxonMobil Evaluates Bids for Argentina Shale Assets

ExxonMobil, one of the world's largest publicly traded oil and gas companies, is reportedly in the process of assessing bids for its oil and gas assets located in the Vaca Muerta shale region of Argentina, according to a Reuters report. While it is unclear at this point who the potential buyers might be, the move […]

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February 26, 2024
FIIs Favor Capital Goods, Auto Over Finance, FMCG in FY24 Trends

As we delve into FY24 market trends, foreign institutional investors (FIIs) continue to demonstrate a bullish attitude towards Capital Goods and Auto sectors. They, however, seem to be taking a step back from Financial Services and Fast-Moving Consumer Goods (FMCG). This change in investment preference signifies a notable shift in the global investment scenario as […]

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February 26, 2024
Ohio Judge Rejects Eco Groups' Appeal on Oil Leasing

In a significant decision, an Ohio judge has struck down an appeal lodged by environmental groups against commission decisions. The contested decisions involve the leasing of specific sections of a state park and two wildlife areas dedicated for oil extraction. The ruling has raised concerns amongst environmentalists and conservationists, who fear the possible implications on […]

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February 26, 2024
Lansdowne Advances ECT Claim Against Ireland

Lansdowne's recent decision to set the wheels in motion with its Energy Charter Treaty (ECT) claim against Ireland signifies a pivotal moment in its quest for justice. This move indicates the company's readiness to robustly assert its rights and challenge alleged violations under the international investment treaty designed to protect cross-border investments in energy. Being […]

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February 26, 2024
Fitch Ratings Affirms Long-Term Rating of PV Gas

On February 26, 2024, Singapore-based Fitch Ratings has affirmed the Long-Term ratings of PetroVietnam Gas Joint Stock Corporation, also known as PV Gas. The international rating agency delivered its evaluation, reinforcing the financial strength and stability of the noted Vietnamese natural gas provider. 1. On February 26, 2024, Fitch Ratings affirmed the Long-Term ratings of […]

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February 26, 2024
Nearly 200 Nations Pledge to Reduce Fossil Fuels at Cop28 Summit

In a groundbreaking move towards combating climate change, almost 200 countries participated in the Cop28 UN climate summit in December and agreed to take substantial steps. A commitment was made to transition away from fossil fuels within their energy systems. This profound global consensus marks a courageous stride in the direction of sustainable and eco-friendly […]

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February 26, 2024
Richards Recycling Facility Gets Permit to Treat Drilling Byproduct Water

The Richards Recycling Facility has recently secured a state permit that allows them to store, treat, and recycle produced water—a byproduct of oil and gas drilling operations. This significant development, announced on [insert date], is expected to catalyze important strides in the management of industrial waste while bolstering sustainability measures within the state. Produced water, […]

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February 26, 2024
Offshore Energy Firms Cut Spending by 90%

In a significant shift in the energy sector, a strategic decision has led to profound repercussions as 90 percent of offshore energy companies decided to cut down their spending in the region. This key move, reflecting the unpredictability and intensity of the industry's current fiscal environment, has created waves across the sector and forced major […]

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February 26, 2024
Extinction Rebellion Occupies British Parliament

From Monday onwards, Extinction Rebellion, the renowned British organization known for their bold environmental protests such as the green-dyeing of canals in Venice, has embarked on their latest venture by taking over the British parliament. Through these audacious maneuvers, their goal is to bring public attention to the urgency of climate change and the inexperienced […]

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February 26, 2024
McCormicks, Landowners Sue HRM Resources

Cindy and Ronald McCormick, along with a cohort of fellow landowners and farmers, have lodged a lawsuit against HRM Resources. The suit alleges the company has engaged in unethical and possibly illegal practices. Details of these purported practices have not been fully disclosed yet, leading to speculation amidst the affected communities. The group of plaintiffs […]

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February 26, 2024
Bozhong 26-6 Field Holds Over 1.3 Billion Barrels

In the world of oil exploration and drilling, China's Bozhong 26-6 field has made a name for itself as a treasure trove of energy resources. The site has confirmed hydrocarbon reserves that surpass 1.3 billion barrels, making it a key player in global energy production. This enormous reserve underlines the importance of the Bozhong 26-6 […]

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February 26, 2024
Oil Prices Dip as Traders Anticipate March Reports

(Bloomberg) -- In recent trading patterns, oil prices exhibited a slight downturn following a weekly decrease. As we head into March, traders across the globe are keeping a keen eye on potential indicators that could signify shifts in global crude demand and balances. The anticipation has sparked widespread speculation, further emphasizing the volatile nature of […]

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February 26, 2024
Early Monday Asian Trade Sees Oil Prices Drop

Oil prices witnessed a sharp decline in early Asian trading hours on Monday, continuing the downward trend from the previous session as last week concluded with the commodity tumbling by 2-3%. This was largely due to a flurry of factors contributing to the softening market sentiment globally, stirring concerns within the oil market. 1. Oil […]

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February 26, 2024
Oil Prices Drop Further as Traders Await Global Demand Clues

Oil prices continue to slump after a notable weekly downturn, as global traders hold their breathe in anticipation for new indications about international demand and the potential shifts in the oil balance come March. Uncertainty clouding the market's future puts increased pressure on prices, causing this recent descent into further losses. This anxiety amongst investors […]

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February 26, 2024
Oil and Gas Corporations Repeatedly Fined

In an intriguing development from the energy sector, Oil and Gas Giants - leading multinational corporations in the field, have once again been slapped with fines. This marks the third quarter in a row they're facing punitive actions. The reason, it appears, is a mirrored offence, rendered even more significant due to its repetitive nature. […]

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February 26, 2024
Oklahoma and US Oil, Gas Rigs Increase by Two

In the energy industry, there were notable movements this past week, as the number of oil and gas rigs in active operation in Oklahoma witnessed an increase by two. Echoing this trend on a larger scale, the total count for the United States also saw a similar incremental rise, according to the latest reports. The […]

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February 26, 2024
Tenaris Reveals Latest Developments in Update

In a recent update on February 25, 2024, Tenaris S.A. (traded on the NYSE and Mexico as TS and EXM Italy as TEN), a Luxembourg-based multinational manufacturer of steel pipes, announced some pivotal developments. While the details of the announcement are yet to be disclosed, market spectators are eager to understand how this news might […]

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February 26, 2024
Libyan Guard Threatens Oil Shutdown over Pay

In a recent development in Libya, the Petroleum Facilities Guards (PFG), tasked with the security of the nation's oil and gas infrastructure, have issued a stark warning. Due to unresolved disputes over their remuneration, they are threatening to instigate a shutdown of all oil and gas facilities located in the country's western region. This drastic […]

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February 26, 2024
Woodside Energy's Scarborough Gas Project Hits Major Milestone

Australia's leading energy firm, Woodside Energy, has reportedly reached a significant landmark in its Scarborough gas and LNG (liquefied natural gas) offshore project located in Western Australia. This significant development came with the arrival of... 1. The Scarborough gas and LNG (liquefied natural gas) offshore project, managed by Australia's leading energy firm Woodside Energy, has […]

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February 26, 2024
In-Situ Stress Impact on Fracturing and Well Stability

This post explores the impacts of in-situ stress on fracturing, casing deformation and well stability. These geological phenomena are considered critical for understanding the dynamics of oil and gas exploration. Much of the focus lies within the southern area of the Zigong, located in the Sichuan Basin. This region, marked by its unique geological structure, […]

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February 26, 2024
Energy Fuels 2023 Full Year Results: Revenue Up 203%

Energy Fuels, a leading mining company, recently announced its full-year financial results for 2023. The booming mining firm ( TSE:EFR ) reported a staggering 203% increase in their revenue, which surged to an impressive US$37.9m as compared to the preceding fiscal year 2022 figures. The company's net figures have also unveiled some noteworthy insights. Read […]

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February 26, 2024
Anticipated High Volatility Due to February Derivatives Expiry

In light of the current market situation, market analysts anticipate that volatility will continue to remain high due to the impending expiry of the derivatives contracts set for February. This forecast comes from a variety of signs that have been presenting themselves, pointing towards... 1. Market analysts foresee a continuation of high volatility due to […]

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February 26, 2024
Oil and Gas Rig Count Rises to Record High

The oil and gas industry witnessed a notable uptick in its combined rig count, a preliminary sign of potential future production, as it increased by five, reaching 626 during the week leading up to February 23. This figure marks the highest recorded count since August 2023. This resurgence hints towards an increased output in the […]

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February 26, 2024
Companies Fight Alaska Shipping Penalties in Court

Several corporations have contested the charges and monetary penalties levied against them in the U.S. District Court of Alaska. The companies maintain that they did not infringe upon the Jones Act during their transportation operations. The Act, a federal statute aimed at promoting and maintaining a robust merchant marine in the US, has strict rules […]

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February 26, 2024
Exxon Gets Multiple Bids for Argentina's Vaca Muerta Holdings

ExxonMobil, a multinational oil and gas giant, has reportedly received numerous offers for its stakes in Argentina's esteemed Vaca Muerta formation in Patagonia earlier this month. This was revealed by sources familiar with the matter, shedding light on the growing interest of investors in the rich shale reserves of this South American nation. The details […]

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February 26, 2024
Western Europe Severs Direct Russian Oil Imports

In a significant development that represents a substantial hit to Russian President Vladimir Putin's influence, Western Europe has permanently severed its reliance on direct Russian oil imports. This transition has been corroborated by comprehensive research conducted by a prominent European energy consultancy. The move symbolizes a remarkable shift in energy security policies and strategies amidst […]

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February 26, 2024
Western Hemisphere Drives Global Oil Demand Growth

Over the past ten years, from 2012 to 2022, a fascinating transition in the global energy landscape has been unfolding. It appears that all the growth in global oil demand during this period was absorbed by the Western Hemisphere's ramped-up oil production. This advancement positions the Western Hemisphere as a potent and vital player in […]

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February 26, 2024
Oil & Gas Investment Risky Due to Slow Low-Carbon Shift

Financial watchdog Thomas DiNapoli has publicly voiced concerns over the investment risks in oil and gas companies. DiNapoli asserts that these corporations could pose a significant long-term financial risk to investors. The driving force behind this claim is his belief that these firms are ill-prepared to transition effectively to a low-carbon economy, which is becoming […]

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February 26, 2024
Surveying, Demining Activities Completed on Damara Fold Belt Prospect L

The initial phase of exploration on the Damara Fold Belt Prospect L has been successfully completed with all surveying activity to date now finished. Notably, this also includes the substantial task of demining activities. The completion of these initial steps sets a firm foundation for the prospective mining site and is an encouraging sign. This […]

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February 25, 2024
S&P 500 Energy Sector SPDR (XLE-A) Price Analysis

In this post, we'll delve into comprehensive pricing details for S&P 500 Energy Sector SPDR (XLE-A). Using information sourced directly from The Globe and Mail, we'll be discussing various aspects such as charting and trades, providing you with the most up-to-date knowledge to aid your decisions in the energy investment sector. A well-updated investor sows […]

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February 25, 2024
San Juans Conservation Groups Gather for Action

On Wednesday, Feb. 20, a collection of noted environmental groups such as Friends of the San Juans, Washington Conservation Action, Re Sources, and the Mt. Baker Group of Sierra Club collaboratively held a significant gathering. This influential coalition joined forces towards safeguarding our natural resources, and embarked upon concerted efforts for progressive ecological conservation. 1. […]

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February 25, 2024
Oil and Gas Industry's Inaccurate Emission Monitoring

The general practices within the oil and gas industry are coming under increased scrutiny, particularly in relation to the industry's oversight of emissions. Among the most notable points of contention is the industry's seeming reluctance, or inability, to conduct accurate monitoring of emissions from storage tanks and on-site reservoirs, which are used to hold byproducts […]

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February 25, 2024
Aramco Enters LNG Business with EIG Stake Acquisition

Aramco, the Saudi Arabian multinational petroleum and natural gas company, recently expanded its portfolio by stepping into the Liquefied Natural Gas (LNG) business. The move came about following the acquisition of a minority stake in EIG's MidOcean Energy this past September. This significant stride is expected to see the company gain ground in the highly […]

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February 25, 2024
Aramco Shifts Focus in a First for Saudi Oil Industry

The oil and gas industry is set to witness a dramatic change as Aramco, Saudi Arabia's state-owned oil company, is poised to shift strategies. This represents a significant transformation for Aramco, given that Saudi Arabia is renowned as the world's largest crude exporter. The forthcoming changes will inevitably bring about a new era in the […]

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February 25, 2024
Court Records Unclear on McCown's Legal Representation

On Saturday, attempts to reach a certain McCown at the phone number listed for her proved abortive as the line went unanswered. Other investigations into the case currently unfolding around her yielded little as well. Court records made available thus far did not definitively clarify whether she had secured the services of a legal representative […]

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February 25, 2024
World's Largest Metamorphic Rock Oilfield Discovered in China

China National Offshore Oil Corporation (CNOOC) made a groundbreaking announcement on Sunday that they have discovered the world's largest metamorphic rock oilfield. Found within the deep geological layers of the Earth, this significant discovery could potentially revolutionize the oil industry and global energy markets. 1. The China National Offshore Oil Corporation (CNOOC) has announced the […]

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February 25, 2024
Calls Rise for Independent Body in North Sea Energy Policy

The growing discontent over how politics is handling the North Sea oil and gas sector has sparked a new kind of conversation amongst industry professionals and environmental advocates. Frustrated by a perceived lack of strategic response and foresight, there have been increased calls for the establishment of an independent energy policy body. This body, as […]

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February 25, 2024
TenneT to Begin Work on Third Project with Seatrium Ltd.

Seatrium Ltd., an international energy company, has recently announced that it received a formal notice from TenneT, the Dutch national electricity transmission system operator. The notice unveiled TenneT's plan to initiate work on a third project. This marks a significant development, which could potentially generate expansive growth opportunities for both organizations in the energy sector. […]

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February 25, 2024
Trader Convicted on Bribery, Money Laundering Charges

A federal jury in Brooklyn has rendered a guilty verdict against a trader involved in a high-profile financial crime case. The undisclosed trader was found guilty on three separate offenses: foreign bribery, conspiracy to commit foreign bribery, and money laundering conspiracy. The case offers deep insights into the complex and often sinister machinations of illicit […]

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February 25, 2024
2024 Presidential Race's Impact on Fossil Fuel Sector

In a piece penned by Victor Reklaitis, the focus is set on the hypothetical rematch between Biden and Trump in the 2024 presidential race. While the outcome may seem years away, it is crucial to begin assessing the potential implications this could have on various sectors. Of particular interest in this discussion is the fossil-fuel […]

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February 25, 2024
Qatar to Amplify Gas Production with North Field Expansion

In a significant move in the Oil and Gas industry, Qatar has announced a new surge in gas output through a major expansion of the North Field, the world's largest non-associated natural gas field. The current production capacity of 77 million tonnes per annum (mtpa) is set to experience a substantial increase, marking a pivotal […]

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February 25, 2024
2024 Presidential Race May Impact Fossil Sector

The turbulence in the oil and gas sector continues to gain momentum, amidst escalating political discourses. Hyperbolic campaign rhetoric notwithstanding, there seems to hang in the air a palpable sentiment alluding to significant shake-ups in the fossil fuel industry. Indeed, anticipations are rife that the impending 2024 presidential election may dramatically reshape the sector's trajectory. […]

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February 25, 2024
EU's Carbon Policy Slashes China's Aluminum Exports by 30%

China has recently witnessed a significant decline in its aluminum exports to the European Union, down by 30%. The steep drop can be attributed to the implementation of the Carbon Border Adjustment Mechanism (CBAM) by the EU - a move that has audibly resonated through the alleys of global trade, particularly impacting the metal industry. […]

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February 25, 2024
Gulf States to Boost LNG Production by 85% by 2030

The Gulf states are making significant strides in amplifying their liquefied natural gas (LNG) production. Forecasts indicate that their LNG production capacity is set to surge nearly 85% before the end of this decade. This outstanding escalation is an indication of the region's efforts towards energy diversification and sustainable economic growth, along with globally catering […]

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February 25, 2024
Protests Shut Down Oil Field in Libya, Gas Link to Italy

Protests have led to the closure of an oil field in Western Libya and a subsea natural gas link to Italy, disrupting significant sources of energy production and transmission. The information was provided by an individual privy to the matter but wished to remain anonymous due to the sensitivity of the situation. The exact motive […]

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February 25, 2024
Mellitah Complex Shut Down Over Wage Disputes

Protests have escalated in Libya as demonstrators enforced a shutdown of the Mellitah oil complex earlier in a dispute largely centered on wages. The group, through their spokesperson, highlighted their grievances, stating they were primarily driven by monetary concerns. The strikers are also asserting their demands for improved working conditions within the complex. The group's […]

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February 25, 2024
Six Public Firms Penalized with Rs 5,42800 Q3 Fines

In a recent turn of events, it has come to light that six public sector undertakings (PSUs) have been penalized with substantial fines. The companies have separately disclosed via official filings that they have each been imposed with a penalty of Rs 5,42,800 for the third quarter. This significant development brings to the forefront questions […]

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February 25, 2024
Exploring the Deep Reservoirs of Bozhong 26-6 Oil Field

Situated thousands of meters beneath the surface amidst the hills of the seabed lie the reservoirs of the Bozhong 26-6 oil field. An impressive testament to the relentless pursuit of energy resources, this field narrates the compelling tale of man's persistence and technology's progress. Delving into the depths, these reservoirs contain far more than crude […]

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February 25, 2024
Oil and Gas Company Owner Barred from Leasing Federal Lands

In a significant turn of events, the anonymous businesswoman has come under intense public scrutiny for her shady dealings, particularly concerning the extraction of oil and gas from federal and tribal lands leased by her companies. The curious circumstances of her subsequent sentencing have provided the latest fodder for controversy; as part of her conditions […]

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February 25, 2024
Gulf Oil's Expansion and Prominence in Global Oil Sector

Over the years, Gulf Oil has consistently grown its footprint, expanding its operations on a global scale to become a prominent player in the oil and gas sector. On the other hand, there's OTO Pakistan, another significant entity in the industry. Together, these corporations outline an important chapter in the narrative of international energy production […]

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February 25, 2024
Oil Companies Council Holds Workshops on Pakistan's Industry

The Oil Companies Advisory Council (OCAC) recently initiated a series of insightful workshops dedicated to Pakistan's Oil and Gas Industry. The second session in this series was held to shed light on the current and future dynamics of the industry. Chaired by eminent experts and industry leaders, these workshops are designed to offer an exploratory […]

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February 25, 2024
Industry Warns of Looming Capacity Shortage

Despite efforts to mitigate the consequences, it appears that it might be a case of 'too little, too late' for the industry, as ominous signs of an imminent capacity shortage have already begun to surface. The once flourishing sector seems to be on the brink of a significant downturn, unable to keep up with the […]

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February 25, 2024
Guyana's Oil Royalties Shortfall Uncovered

In our recent exposé, we delve deep into the disturbing facts concerning the shortfall in Guyana's oil royalties. One cannot help but question why the Natural Resource Fund (NRF), a key component of the South American country's exploitation of its lucrative oil reserves, finds itself disillusionedly bereft of billions. Unravelling this intricate web of fiscal […]

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February 25, 2024
Oil Companies Prosper Under Democratic Rule

Contrary to popular assumption, oil companies have historically fared well, even under Democratic presidencies. For instance, under the leadership of presidents such as Obama and Biden, who are infamously known for not necessarily holding a favorable stance toward the oil industry, these companies have not just survived, but thrived. This counterintuitive reality warrants a closer […]

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February 25, 2024
Buffett's Ventures, Samsung's Tech, & Oil Industry Strategy

In the captivating world of commerce and technology, there are few narratives as intriguing as those that intersect at the crossroads of investment, innovation, and industry strategy. Let's embark on an enlightening journey that explores the intertwined stories of the renowned investor Warren Buffett's investment challenges, Samsung's remarkable technological advancements, and the formidable oil industry's […]

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February 25, 2024
Fortune 500 Firms Employing Oil Industry Workers

In the expansive domain of energy production, a significant number of professionals find themselves intricately woven into the fabric of the global oil industry. These individuals are often employed by Fortune 500 titans like Transocean, revered as the world's largest offshore drilling contractor based on revenue, or Chevron, one of the multinational giants in the […]

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February 25, 2024
Advisory Issued for Oil Industry and Associated Sectors

The Advisory touching on the Oil Industry and Related Sectors has been recently released to shed light on the ongoing issues in these fields. Aimed at both government bodies and private sector participants, the Advisory addresses the prevalent concerns, constructive solutions and future forecasts in the industry. At its core, the goal of the Advisory […]

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February 25, 2024
Halt Oil, Gas Exploration for Net Zero Target: Greenpeace Nordic

In pursuit of the 2050 net-zero emissions target – a crucial step toward securing a peaceful and livable planet for future generations – halting the exploration and production of new oil and gas projects is a non-negotiable course of action. As industrial activities continue to exacerbate climate change, radical actions to combat these damaging effects […]

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February 25, 2024
Federal Judge Upholds Arctic Oil Survey Suspension

In a new development from Anchorage, a federal judge has reaffirmed her stance on the contentious issue surrounding Arctic exploration. The judge has solidified her decision to maintain the suspension of oil and gas survey operations in the Arctic National Wildlife Refuge. This decision comes amidst an ongoing debate about the environmental impact of such […]

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February 25, 2024
Chevron Canada Gives Up Last Pacific Coast Licences

In an unexpected move, Chevron Canada has voluntarily given up its last remaining oil and gas development licences off the coastline of Canada's Pacific. The decision, which was implemented early this February, marks the end of a significant chapter for oil and gas exploration and extraction initiatives in the region. The move reportedly coincides with […]

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February 25, 2024
Northern Oil and Gas to Generate $489M Cash Flow By 2024

Northern Oil and Gas, a leading player in the energy sector, is expected to make significant financial strides in the coming years, with projections estimating an impressive $489 million in free cash flow by the year 2024. Currently trading under the ticker symbol NOG, the company has been showing positive signs of growth and stability. […]

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February 25, 2024
Over 2 Million Unused Oil and Gas Wells Require Cleanup

In an era of rapid climate change, one alarming fact often goes unnoticed: there are over 2 million abandoned oil and gas wells, in desperate need of clean-up. These 'unplugged' wells are a ticking environmental time bomb, quietly leaking potentially harmful amounts of methane and other greenhouse gases. In the midst of an unprecedented production […]

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February 25, 2024
Norton Rose Fulbright Advises SOOGL on Contract

Global law firm Norton Rose Fulbright recently served as the legal advisor to SINOPEC Overseas Oil & Gas Limited (SOOGL), in conjunction with a 25-year production-sharing contract. This partnership marks a significant moment in the global energy sector, showcasing Norton Rose Fulbright's expertise navigating complex international laws. The full scope of the agreement and details […]

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February 25, 2024
Oil Trader Convicted for Bribing Ecuadorean, Mexican Officials

A federal jury in Brooklyn returned guilty verdicts today against an oil and gas trader implicated in a grand scheme to bribe high-ranking officials in the Ecuadorean and Mexican governments. The trader, whose name is currently being withheld, was convicted on multiple counts including bribery, money laundering, and other fraud-related charges. His conviction is the […]

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February 25, 2024
Toxic Chemicals from Abandoned Pipelines Threaten Environment

Researchers have raised concerns over the pollution risk posed by toxic chemicals from rotting oil and gas pipelines. It has been found that many oil and gas companies are permitted to leave these pipelines to rot, contributing to an increased risk of chemical leakage into the environment. This alarming practice has raised questions about the […]

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February 25, 2024
SNP Leader Reverses Stance on North Sea Oil and Gas

At the First Minister's Questions (FMQs) this week, an interesting development unfolded as Humza Yousaf, the leader of the Scottish National Party (SNP), seemed to subtly shift his stance on the new North Sea oil and gas exploration. The question of whether the Scottish government would support future oil and gas development in the North […]

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February 25, 2024
Oklahoma Oil and Gas Firms Invest Over $156M

Oklahoma's oil and natural gas companies have significantly contributed to the economy with an impressive investment exceeding $156 billion. This major financial commitment underscores the critical role they play in enabling our day-to-day activities, from cooking and heating our homes to fueling automobiles and industrial processes. However, a critical dilemma arises: what happens in case […]

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February 25, 2024
Ron's Coverage of Oil, Gas Companies' Shift to Renewables since 2014

For over seven years, Ron has been at the forefront of energy journalism, providing comprehensive coverage of the world's leading oil and gas companies. With an unerring focus on the sector's pivots towards renewables and low carbon energy, he explores the most relevant and pressing environmental challenges and measures being undertaken by these industrial giants […]

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February 25, 2024
Permian Basin Oil and Gas Boom Attracts New Talent

The flourishing oil and gas industry in the Permian Basin is attracting a fresh wave of oil and gas professionals eager to make their mark in this region. Notable among these new faces is one industry veteran, whose extensive experience and pioneering approach to the field promise to inject fresh insights and innovation into the […]

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February 25, 2024
Kelley Accuses Hicks of Double Standards in Oil Industry

Kelley, a notable figure within the oil and gas industry, expressed frustration via email regarding what he perceives to be a glaring double standard. His comments were aimed directly at Hicks, who currently holds the position of Chair within the California legislature. This dissatisfaction stems from a specific incident that illicitly spotlighted the contradictory practices […]

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February 25, 2024
Empyrean Energy Welcomes Mako Field Update in Indonesia

Empyrean Energy PLC (AIM: EME) has expressed enthusiasm for the recent update regarding the Mako field development project in Indonesia. According to the update, crucial commercial terms have now been solidified. This signals a promising advancement in this crucial energy project located in Southeast Asia, allowing Empyrean Energy PLC to proceed with a reliable framework. […]

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February 25, 2024
Her Businesses Operate in Northwestern New Mexico

Records have shown that two major businesses owned by the same individual have been making substantial strides in Northwestern New Mexico's industry. The businesses in question are M&M Production & Operation Inc. and Shoreline Oil & Gas Company. As it stands, these entities have been influential in shaping the region's energy and economic landscape, contributing […]

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February 25, 2024
New Mexico Businesswoman Charged with Oil Tax Fraud

A prominent businesswoman from New Mexico is currently facing severe allegations of defrauding the American government. The charges allege her involvement in a corrupt scheme that deprived both the federal government and two Native American tribes of significant revenue. She is accused of dodging tax payments and withholding royalties that were duly owed to these […]

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February 25, 2024
Oil Industry's History of Political Conservatism

The long-standing relationship between the oil industry and politics has been traditionally marked by dichotomous ideologies. The oil industry has over time, leaned towards political conservatism, finding alignment with policies and perspectives that uphold free-market capitalism and resource exploitation. Mirroring this trend, the Democratic politicians, known for their progressive and environmentally conscious outlook, have exhibited […]

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February 25, 2024
US Oil Industry Accelerates DAC Deployment

Last year marked a significant event within the realm of Direct Air Capture (DAC) technology, particularly in the United States, where its deployment is being heavily driven by none other than the oil industry. Carbon Engineering, a leading innovator in DAC technology, was acquired in a noteworthy deal worth $1.1 billion by a major yet […]

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February 24, 2024
New Mexico GOP Fights for Oil, Gas, and Gun Rights

In a recent assertion, Republicans from Southeast New Mexico have staunchly defended their handling of several key issues that strongly resonate with their ardent supporters. They have highlighted their commitment towards the protection of the heavily-contested oil and gas industry, advocacy for unimpeded gun rights, and backing of business owners. They claim these steadfast defenses […]

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February 24, 2024
Aguilar Accused of Using Fraud for $500M Business Win

In an intriguing turn of events, US prosecutors have alleged that in order to secure a sumptuous $500 million business deal, a certain individual named Aguilar employed an intricate web of illegal tactics. According to the indictments, he meticulously used intermediaries, alongside shell companies, and roped in no less than six co-conspirators to pull off […]

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February 24, 2024
Chicago Sues Oil Industry Over Climate Crisis

Chicago has recently joined the ranks of U.S. cities taking legal action against the oil industry over the escalating climate crisis. Following in the footsteps of other cities and states, Chicago asserts that oil corporations must answer for their substantial contribution to global warming, seeking accountability for the environmental damage inflicted. This development marks the […]

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February 24, 2024
Northern Oil and Gas Posts $2.17B Revenue in 2023, Up 19% From 2022

Northern Oil and Gas, Inc (NYSE: NOG) recently disclosed its financial performance for the full year of 2023. The company's financial results showed some noteworthy improvements from the previous year. Key among the financial indicators was the revenue figure, which stood at a robust US$2.17 billion, an impressive increase of 19% from the fiscal year […]

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February 24, 2024
Chicago Sues Six Oil and Gas Firms for Deception

Mayor Brandon Johnson recently divulged that the City of Chicago has taken legal action against six prominent oil and gas corporations, along with their largest trade association. This move has been prompted by allegations that these major players in the energy industry have engaged in deceptive practices, misleading consumers and stakeholders. Details regarding the specific […]

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February 24, 2024
Q3 Review: BFSI, Auto, Oil & Gas Drive Earnings Growth

In our Q3 Results Review, a noteworthy surge in earnings was observed, predominantly fueled by the robust performance of several key sectors. The Banking, Financial Services, and Insurance (BFSI) sector, the automobile industry, alongside the oil and gas sector, performed remarkably well, underpinning this financial uptick. These sectors reported a stellar growth of 22 per […]

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February 24, 2024
Diamondback Oil and Gas Operation Update 2019

In an image taken on April 17, 2019, pumping units can be seen in action close to a Diamondback oil and gas operation site in Midland County. The photograph provides a candid snapshot of the region's lucrative oil and gas industry in action. According to East Daley Analytics, it furnishes a crucial context to the […]

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February 24, 2024
Oil Industry Leaders Warn Biden Administration of Costs

Oil industry figureheads had previously issued cautionary statements to the Biden administration regarding the cost implications associated with potential alterations in energy policy. Such voices of concern originated from prominent organizations such as the Petroleum Institute, a substantial player in oil industry-related lobbying actions. One noteworthy individual lending her expertise to this discourse is Emily […]

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February 24, 2024
Pollution Found at 25% of Oil and Gas Sites, Earthworks Reports

In 2023, environmental non-profit organization, Earthworks, set out on a substantial undertaking to delve into the environmental impact of the oil and gas facilities around the world. Based on their rigorous field surveys of 288 facilities, they established a shocking revelation. The findings documented harmful pollution at a staggering one quarter of all oil and […]

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February 24, 2024
Vista Energy Plans $900m Investment in Argentina

Vista Energy, a trailblazer in the energy sector, has solidified its operations in Argentina through an impressive photo reveal of its facilities. The photo, shared by the company, showcases the significant scale and capacity of Vista Energy's operations in the South American nation. The revelation comes amidst news that Vista Energy is strategizing a mammoth […]

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February 24, 2024
Bill Proposes Pre-Production Emission Consideration

In a significant move towards more rigorous environmental protection standards, legislators have recently proposed a bill that seeks to curb pollution from the oil and gas industry. The primary focus of this legislation is the often overlooked area of pre-production emissions. Under the proposed bill, oil and gas operators would be obligated to secure air […]

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February 24, 2024
Former Oil, Gas Site Transforms into Trash Dump

In an unfortunate twist of fate, the abandoned oil and gas extraction site has descended into a graveyard of indiscriminate waste. Perhaps once a bustle of activity, it now serves as a magnet for unwanted household junk; mattresses, couches, even an ancient foosball table find their undignified end here. The rusting sign on the well […]

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February 24, 2024
Exploring How Dry Gas Pipeline Systems Work

A dry gas pipeline system performs the critical role of transporting natural gas from the oil field to processing units, storage facilities or directly to individual consumers. This system significantly differs from its counterpart - the wet gas pipeline. Unlike wet gas, which contains liquid hydrocarbons, dry gas refers explicitly to methane, which is devoid […]

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February 24, 2024
Mid-Size Wells Drive Half of U.S. Oil and Gas Production

In the last decade, a report reveals that half of the United States' oil and gas production came from wells generating between 100 and 3,200 barrels per day. This period, spanning from 2012 to 2022, showed a significant upsurge in smaller scale production, proving that oil and gas yields were not solely reliant on mega […]

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February 24, 2024
EGPC Launches Major Oil Exploration Expansion

The Egyptian General Petroleum Corporation (EGPC) has recently initiated a significant expansion of its oil exploration and development capabilities. In an effort to effectively tap into Egypt's potentially abundant oil reserves, EGPC is intensively investing in a series of innovative strategies and advanced technologies. This bold move signifies the corporation's renewed vigor and commitment towards […]

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February 24, 2024
Decoding the Reality of U.S. Oil Industry

In the past ten years, I've often found myself standing rather solitary, pouring my energies into unveiling the raw realities of the U.S. oil industry. As often as I encountered isolation, I've fearlessly pitched articles, op-eds, and blog posts, striving to call attention to the machinations and implications of this complex sector. The drive to […]

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February 24, 2024
Unhedged Oil, Gas Producers Persist into 2024

Several investment-grade (IG) oil and gas producers, alongside some high-yield (HY) producers, are set to remain fully unhedged throughout 2024. This decision opens up a discussion on the level of exposure that these entities are willing to accept in terms of fluctuating prices in the global petroleum market. The lack of a hedging strategy could […]

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February 24, 2024
Oil and Gas Rig Count Rises to 626 During Week

The oil and gas industry experienced a slight uptick in activity with the rig count increasing by five to reach a total of 626 in the week leading to February 23. This subtle rise marks a period of cautious optimism within the sector as it continues to recover from the economic fallout of the global […]

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February 24, 2024
Mayor Breen Optimistic About St. John's Oil Production Growth

St. John's Mayor, Danny Breen, expresses optimism as he anticipates an upturn in the city's fortunes through a surge in oil and gas production. The mayor's outlook is grounded on the anticipated growth in the natural resources sector, forecasting brighter days for the city and its inhabitants. These anticipated changes come at a time when […]

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February 24, 2024
Consumer Alert Video Exposes Deceptive Oil Industry Ad

In a recent press release, Consumer Watchdog has unveiled a new Consumer Alert video that highlights and exposes yet another misleading television advertisement. This advertisement, sponsored by the oil industry, launches a direct attack on Governor Newsom's policies. The purpose of this video is to shed light on the deceiving tactics used by these industries […]

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February 24, 2024
Consumer Watchdog Exposes Deceptive Oil Industry Ad

In a recently released Consumer Alert video, the group Consumer Watchdog is bringing to light another misleading attempt by the oil industry to undermine Governor Newsom's energy policies. This video reveals a TV ad that reportedly disseminates deceptive information about the efficacy and impact of Newsom's policies in the energy sector, once again showcasing the […]

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February 24, 2024
Germany's Top Oil Producer Faces Criminal Complaint

On Thursday, Germany's largest oil and gas producer found itself embroiled in serious legal trouble as a criminal complaint was lodged against the corporation. The complaint is centered around the suspicion that the company engaged in deceptive practices, such as deliberately providing false information and strategically concealing crucial data. The fine details as to what […]

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February 24, 2024
Nevada BLM Office Seeks Public Input on Oil, Gas Parcel

The Nevada State Office of the Bureau of Land Management (BLM) today announced the commencement of a 30-day public comment period, inviting public feedback on an oil and gas parcel. This designated time period serves as an opportunity for the public to share their views and insights, which will assist BLM in their decision-making process […]

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February 24, 2024
Colorado Lawmakers Seek Oil, Gas Drilling Ban, Tighten Ozone Rules

As environmental advocates raise the alarm on soaring pollution levels, Colorado legislators are reportedly considering a ban on oil and gas drilling in the state. In line with this, Colorado has taken another significant step by making the ozone restrictions more stringent for oil and gas production. These proposed revisions shine a spotlight on the […]

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February 24, 2024
Saudi Oil Export Revenue Predicted to Plateau in 2024

In light of current market dynamics, analysts predict that Saudi oil export revenues will likely remain steady, aligning with last year's figures by 2024. The emphasis, however, is shifting towards domestic gas expansion which is poised to be a key element of the Kingdom's broader economic agenda. Read on as we delve into the nuanced […]

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February 24, 2024
Proposed Bill Mandates Air Pollution Permits for Oil and Gas Operators

In an effort to curtail the escalating problem of air pollution, a new legislation has been proposed that aims to regulate pre-production emissions from the oil and gas industry. This unprecedented bill, if passed, would mandate oil and gas operators to obtain air pollution permits prior to the commencement of their operations. This move seeks […]

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February 23, 2024
Oil and Gas Industry May Face Skilled Labor Shortage by 2030

The oil and gas industry faces a looming crisis as it struggles to produce the necessary 28,000 skilled engineering construction workers projected to be in demand by 2030. Without substantial improvements in recruitment, training and worker retention practices, the sector is at significant risk of failing to fulfill this critical workforce requirement. This potential shortfall […]

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February 23, 2024
Oil Companies Accused of Fraudulent Transfers in Class Action

In a potentially groundbreaking legal turn, the plaintiffs' class action complaint accuses prominent oil and gas companies of participating in an underhanded, yet commonplace oil industry strategy. This strategy involves fraudulent transfers, a tactic allegedly employed by these companies to dodge liabilities, minimize taxes, and shield assets. The target of this class action lawsuit is […]

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February 23, 2024
Qatar Energy Firm Teases Major Announcement

Qatar's state-owned energy company, arguably one of the most significant liquefied natural gas (LNG) exporters on the globe, has recently hinted at a potentially major announcement. The Gulf state, prominently known for its vast LNG capacity and supplies, has sparked intense speculation through this ambiguous hint, the ramifications of which could have far-reaching impacts on […]

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February 23, 2024
Downturn in Oil Industry Heightens Environmental, Financial Risks from Unplugged Wells

In the face of an ongoing downturn in the oil industry, the issue of unplugged oil and gas wells has come to the fore, posing substantial environmental and financial challenges. A largely overlooked but escalating problem, these abandoned wells can potentially leak harmful pollutants into our surroundings, including methane - a potent greenhouse gas. Besides […]

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February 23, 2024
New Bills to Regulate Toxic Emissions from Colorado's Oil and Gas Sites

In an impactful move towards environmental conservation, the Colorado state government is preparing to roll out a series of legislation aimed at reducing harmful emissions from oil and gas drilling sites. The forthcoming bills will bring about significant changes to the reigning permit issuance system, effectively lengthening the state's regulatory processes concerning oil and gas […]

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February 23, 2024
Younger Leaders Emerge in Texas Oil Industry

The reigns of the Texas oil industry appear to be increasingly landing in the hands of a younger generation. This demographic shift, along with its implications, has sparked a fresh wave of curiosity and speculation throughout the industry. The question on everyone's lips is: what does this change actually mean for the future of oil […]

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February 23, 2024
Fitch Ratings Analyzes Hedge Books of US, Canadian Oil Firms

In a recent evaluation, Fitch Ratings carried out an extensive examination of the hedge books of 27 U.S. and Canadian oil and gas exploration and production (E&P) companies in the third quarter of 2023. The aim of the assessment was to gain insights into each company's financial health, risk management strategies, and future prospects within […]

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February 23, 2024
Offshore Wind Sector Experiences Massive Growth

The booming offshore wind sector is witnessing an unprecedented surge in growth across our operating regions. Stunningly, it is projected that over 5,000 wind turbines are expected to be installed in the coming years. This grand expansion indicates not only the increasing importance of renewable energy, but also the immense potential that the offshore wind […]

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February 23, 2024
OPEC+ Expected to Extend Oil Production Cuts into 2024

As oil market dynamics continue to fluctuate, industry watchers and analysts have their eyes on OPEC+. The cartel's decision-making trends are under scrutiny, especially concerning their oil production cuts. The prevailing consensus among these industry experts is inclined towards an extension of OPEC+'s oil production cuts beyond the first quarter of 2024, spilling into the […]

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February 23, 2024
Indian Rupee Falters on Rising Dollar Demand

On Friday, the Indian rupee had difficulty maintaining its upward trajectory amidst growing demand for the U.S dollar from oil companies and other importers. The Indian economy also faced external pressure from the Federal Reserve's recent decisions. These factors combined, cast a shadow of uncertainty over the rupee's potential for growth, as observers keenly watched […]

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February 23, 2024
Colorado's Oil and Gas Wars Rekindle Years Later

Several years have passed since the resolution of the contentious oil and gas wars in Colorado. Hope, at that time, had sprung from the possibility of a harmonious coexistence between environmentalists and the million-dollar fossil fuel industry. Now, as if caught in a tempestuous cyclical pattern, Colorado is once again finding itself amid the sparks […]

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February 23, 2024
Angolan Tobias Oil Well Testing Monitored by Analysts

Oil industry watchers, consisting of both analysts situated in Angola and observers from around the globe, are currently monitoring an intriguing development in the field. A well testing programme in the Tobias oil fields has sparked special interest, prompting analysis and predictions about potential ramifications on a global scale. The initiative, which is still underway, […]

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February 23, 2024
Digital Tech Sparks Growth in Oil & Gas Sector

The oil and gas (O&G) sector is currently experiencing an unprecedented transition that is opening exciting new doors for growth and expansion. Central to this profound change are advancements in digital technology which are not just revolutionizing the way the industry operates but also are reshaping the future strategic contours of the sector. 1. The […]

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February 23, 2024
Enerplus Investors to Get $1.84/Share and Chord Stock

In a recent announcement, Enerplus has confirmed that its investors will be receiving $1.84 per share, along with 0.10125 shares of Chord's common stock. This noteworthy development emerged on Wednesday, as per the joint statement issued by both companies. Furthermore, oil executives are spearheading the drive to expand oil production and revenue, signaling potential market […]

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February 23, 2024
Colorado Residents, Lawmakers Worry Over Air Quality

FOX31's Gabrielle Franklin delves into Colorado's growing concern regarding the state's air quality due to oil and gas operations. By engaging with a diverse group of lawmakers and community members, Franklin investigates this emerging environmental issue. The ongoing debate centers around the potential health risks and environmental impact of these operations, shedding light on the […]

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February 23, 2024
Colorado to Curb Toxic Emissions from Drilling Sites

The oil and gas industry in Colorado is set to experience significant shifts following the introduction of three legislative bills. Primarily aiming to curb toxic emissions from oil and gas drilling sites, these legislations plan on modifying how Colorado issues drilling permits. This new regulatory move stands to fundamentally change the operational parameters of the […]

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February 23, 2024
New Bills Tighten Regulations on State Oil and Gas Industry

New legislation featuring significantly stricter regulations on the state's oil and gas industry has been introduced. This array of bills is primarily concentrated on improving the permitting process, enhancing air quality law enforcement and taking measureable steps to reduce harmful environmental effects. The objective is to orchestrate a comprehensive effort towards a more sustainable and […]

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February 23, 2024
Indonesia Defends Palm Oil Industry Amid Deforestation Critiques

In response to increasing global criticism that Indonesia's booming oil palm industry is a major contributor to deforestation, both government and industry representatives are stepping up to defend its role. They emphasize that palm oil production is an integral part of the country's economy and has continually provided employment opportunities for millions of Indonesians. The […]

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February 23, 2024
Oil & Gas Firms' Commitment to Zero Emissions by 2050

There's a growing conversation surrounding the audacious goals of oil & gas companies, with many promising to eradicate the 5 gigatons of emissions produced by their own operations by the year 2050. As the clock ticks and the planet heats, some experts argue there's never been a more opportune time to truly commit to these […]

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February 23, 2024
McCown Accused of Under-Reporting Oil, Gas Production

In a recent development, accusations have come to light against a certain individual, identified as McCown, regarding fraudulent activity in the oil and gas industry. As outlined in the indictment, McCown is allegedly guilty of providing false declarations about the output of oil and gas extracted from leased lands. By under-reporting the quantity of produced […]

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February 23, 2024
Initial Production Capacity Expectations for Oil and Corn

Welcome to another exciting edition of the Oil & Gas Journal! As always, thank you for your continuous dedication and subscription to our magazine. Our past issues and surveys have offered deep insights into the ever-evolving industry. In this post, we'll venture into the significant development in oil production, specifically focusing on traditional crude oil […]

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February 23, 2024
Chicago Sues Five Oil Companies for Pollution Damage

The City of Chicago is taking a significant step towards environmental accountability by filing a lawsuit against five major oil and gas corporations and their corresponding trade association. The lawsuit alleges that these entities have played a significant role in contributing to climate change and environmental degradation, thereby causing harm to the city and its […]

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February 23, 2024
Oil and Gas Industry's Impact on Pleasantville Doc

A groundbreaking new documentary has emerged, shining light on the profound impact of the oil and gas industry on a small town in Northeast Houston - Pleasantville. The film paints a grippingly stark picture of the environmental, social, and economic consequences this industry has imparted on the locality and its residents. An emblematic tale of […]

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February 23, 2024
Top Colorado Fossil Fuel Groups Plan Event

In the midst of ongoing environmental debates, Colorado's leading fossil fuel organizations, the Colorado Oil and Gas Association and the American Petroleum Institute Colorado, have strategized a new course of action. The pivotal role these two groups play in the state's energy sector heightens the importance and potential impact of their plan, details of which […]

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February 23, 2024
Oil Industry Job Cuts Loom as Gas Prices Slide

The oil service industry, particularly oil field service companies and drillers, has been plunged into a freezing period for hiring as they brace themselves for potential job cuts. This sudden halt has been triggered by natural gas producers reacting to a significant downturn in oil prices, which has caused a ripple effect throughout the sector. […]

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February 23, 2024
Investment Rate Matches Growth in Oil and Gas Demand

In our current economy, the prevailing rate of investment in the energy sector is delivering an adequate new supply to meet the escalating demand for oil and gas. This underlines an unwavering commitment to capital by various players in the industry. The investment decisions are shaped by an awareness of the crucial role that oil […]

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February 23, 2024
Fossil Fuels Meet Rising Global Energy Needs

In the global sphere of energy consumption and production, oil and gas stocks have been, and will continue to remain, the premium beneficiary. This can be attributed to the ever-increasing global energy demand, which presently, only fossil fuels are capable of filling sufficiently. The unfaltering development across varied sectors worldwide is pushing the boundaries of […]

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February 23, 2024
Trudeau's Response on Federal Neglect of Oil Workers

In a recent conversation with Jespersen, Canadian Prime Minister Justin Trudeau addressed concerns surrounding discontentment among workers in the oil industry. Trudeau was asked to elaborate on the reasons many of these workers feel disregarded and unsupported by the federal government, a sentiment that has been stirring for some time within the sector. 1. Canadian […]

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February 23, 2024
Peak Fossil Fuel Demand Expected Before 2030

As the world shifts towards sustainable energy, the energy transition is expected to significantly hasten, resulting in the demand for fossil fuels, namely, oil, coal, and gas, peaking before the year 2030. This evolution brings both challenges and opportunities for oil and gas companies. They will have to strategically navigate through this transformative journey, making […]

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February 23, 2024
US Oil and Gas Industry: A Study in Regulation

The U.S. oil and gas industry, characterized by its heavy regulations at federal and state levels, faces stringent requirements including chemical disclosure. These regulations underscore the utmost importance of transparency and safety within this expansive industry. Among these provisions, the laws stipulate that out of all fifty states, twenty-eight have explicit rules on the reporting […]

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February 23, 2024
Oil Companies Confident in Future of Fossil Fuels

The pervasive belief among oil companies and investors that fossil fuels will continue to have a significant presence in the future is clear. This conviction is further supported by Jian's research, indicating an anticipated continuity in the oil and gas industries. Despite the ongoing advancement towards renewable energy sources, it appears that the dominance of […]

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February 23, 2024
EOG Resources Reports Fourth-Quarter Profit Drop

EOG Resources, a leading U.S. oil and gas producer, disclosed a decline in its profit for the fourth quarter in its report released on Thursday. Lower commodity prices were cited as the main cause of income reduction in the said quarter. 1. EOG Resources, a major U.S. oil and gas producer, reported a decrease in […]

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February 23, 2024
Barents Sea Gas Bank's Future Threatened by Infrastructure Issues

The oil and gas industry is facing an uncertain future where many companies may not survive in the long-term. A contributing factor to this precarious situation is the infrastructure issues faced by key oil deposits like the Barents Sea Gas Bank. This particular deposit, under the jurisdiction of the Norwegian Petroleum Directorate, has been beset […]

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February 23, 2024
Chicago Mayor's Lawsuit Against Oil Companies Analyzed

In a recent turn of events, Chicago Mayor, Brandon Johnson, has taken a decisive step against the oil and gas industry by filing a lawsuit, citing its adverse effects on the environment. In response to this bold move, GasBuddy's Head of Petroleum Analysis, Patrick De Haan, gave his professional reaction. De Haan's thoughts provide valuable […]

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February 23, 2024
Air Pollution Triggers Bill to Limit Oil, Gas Production

Dr. Nikita Habermehl, a Denver-area pediatrician, has voiced her strong support for newly introduced legislation aimed at curtailing oil and gas production along the Front Range, a region notorious for high air pollution levels. These bills, if passed, could signal a significant shift in Colorado's energy sector, marking a clear alignment with the urgent worldwide […]

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February 23, 2024
Fossil Fuel Industry Wary of Nuclear Waste Impact

Despite assurances from experts that nuclear waste poses no immediate threat and would go largely unnoticed by the oil and gas industry, leaders within the fossil fuel sector remain skeptical and seem reluctant to delve into this controversial issue. This hesitancy stems from the potential for adverse environmental effects, reputational risks, and the unknowns that […]

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February 22, 2024
OGCI Members Drive Towards Net Zero Future

For the last ten years, members of the Oil and Gas Climate Initiative (OGCI) have been instrumental in showing the pivotal part that oil and gas companies can potentially play in achieving a future with net zero emissions. This transformative journey began in earnest around 2017 and has persisted ever since, with numerous strides made […]

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February 22, 2024
City Demands Climate Change Damages from Oil and Gas Giants

In an unprecedented move, the city is taking a firm stand against the consequences of climate change by seeking financial reimbursements from oil and gas giants. The action is prompted by the escalating damages brought on by deteriorating climate conditions, notably extreme heatwaves and rampant flooding, which have been significant burdens on the city's economy […]

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February 22, 2024
Digital Tech Optimizes Oil & Gas Sector

The evolution of the oil and gas (O&G) sector is currently being propelled by digital technology and innovative business models. As a traditionally conservative industry, the integration of these advanced strategies aims at driving optimization within the O&G operations. This transformative shift is not only playing a pivotal role in increasing efficiency and cost-effectiveness but […]

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February 22, 2024
Canada Takes Over 227 Pacific Offshore Oil Permits

In an unprecedented move, the Canadian government has taken over all 227 offshore oil and gas exploration and production permits in the waters off its Pacific coast. This bold action signals Canada's increasing determination to manage its hydrocarbon resources strategically amidst global environmental concerns and ongoing debates about energy sovereignty. The decision has significant implications […]

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February 22, 2024
NNPCL Oil Pipeline Project Halted in Kaduna

Chimma Williams, a spokesperson for the oil and gas industry, recently announced the abandonment of the NNPCL Oil Pipeline Project. This news came in the wake of a report highlighting MAWA-Foundation's visit to the Kaduna region, illustrating pressing issues associated with the project. This significant development has sparked a wave of reactions across various stakeholders. […]

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February 22, 2024
Nigeria's Economy Exceeds Q4 Growth Expectations

In an unexpected turn of events, Nigeria's economy experienced a higher than projected growth rate in the fourth quarter. The driving force behind this surge is the revival of the oil sector, which managed to exit a contraction phase lasting over three years. This recent development signals a promising jumpstart for Africa's largest economy, opening […]

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February 22, 2024
Public and ECI Learners Surveyed on Engineering Sectors

The Energy Competency Initiative (ECI) recently conducted a survey seeking insights from its learners and the broader public regarding their opinions on different engineering sectors. The exploration incorporated diverse sectors focusing mainly on the pivotal industry of oil and gas. The aim of this initiative was to gauge thoughts and attitudes towards these crucial sectors […]

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February 22, 2024
Baker Hughes Wins Petrobras Contract for Well Construction Services

Baker Hughes, a global energy technology company, has struck a significant deal with Brazil's state-controlled oil and gas behemoth, Petrobras, for the provision of integrated well construction services. The substantial contract is part of a new project and underlines an area of definite growth within the rapidly expanding and highly competitive global oil and gas […]

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February 22, 2024
NUPRC Attracts Confidence to Oil, Gas Industry

The recent surge in the oil and gas industry has been directly linked to the collaborative efforts made by the NUPRC and other governmental stakeholders. These stakeholders have been working relentlessly to infuse an aura of confidence and certainty within the industry, which has been resonating well with potential investors and consequently triggering industry growth. […]

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February 22, 2024
Oil and Gas Industry Leverages AI for Advancements

In recent years, the oil and gas industry, renowned for its resilience and innovation, has begun to harness the transformative power of Artificial Intelligence (AI). Recognizing the potential that AI holds, industry players are now leveraging this advanced technology to chart a course that could lead to game-changing improvements in efficiency, safety, and environmental responsibility. […]

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February 22, 2024
Major Oil Companies' Earnings Tied to Fossil Fuels Overreliance

In a recent discourse, energy analyst Antonia Juhasz ruffled feathers when she pointed out the alarmingly massive profits generated by prominent oil corporations. She attributed these excessive earnings to our persistent overdependence on fossil fuels. The eye-opening perspective presented by Juhasz underlines the urgent need to reassess our energy consumption patterns, particularly emphasizing the consequences […]

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February 22, 2024
Saskatchewan, 2nd Biggest Oil Producer in Canada

In a recent report by the Canadian Association of Petroleum Producers, Saskatchewan was named as the second largest oil producer in the country, further cementing its crucial role in Canada's energy sector. This resource-rich province is not only abundant in oil reserves, but also houses a... 1. The Canadian Association of Petroleum Producers' report named […]

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February 22, 2024
Chicago Sues Oil Companies for Climate Deception

In a landmark move, the City of Chicago is taking six leading oil and gas corporations, along with their principal trade association, to court. The lawsuit accuses these industry giants of misleading Chicago consumers about the impacts of climate change and the role their operations play in exacerbating this global crisis. This lawsuit underscores become […]

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February 22, 2024
Final Offshore Oil Permits in Canada's West Coast Relinquished

Following an announcement made by the Federal Government, the last offshore oil and gas permits for Canada's west coast region have now been officially relinquished. This landmark decision was confirmed by a representative at a press conference today. As covered by THE CANADIAN PRESS and captured through the lens of Sean, this significant development marks […]

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February 22, 2024
Securing Stable Careers for Oil and Gas Workers

The challenge of transitioning oil and gas workers into new jobs and career trajectories is daunting but essential to address. In this post, we will delve deeper into this significant mission that extends beyond singular sectors. Our commitment is to secure stable, well-paid jobs for these workers within emerging and sustainable industries. It’s a formidable […]

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February 22, 2024
EPA Unveils Rules to Regulate Methane Emissions

The Environmental Protection Agency (EPA) has recently unveiled a series of both proposed and finalized rules that aim to regulate the emission of methane from oil and gas related operations. These latest regulations, part of a broader undertaking to reduce the environmental impact of energy production, particularly aim to address the significant contribution of methane […]

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February 22, 2024
Canada's West Coast Final Offshore Permits Relinquished

In a significant environmental move, the federal government of Canada announced that the last offshore oil and gas permits for the West Coast have been surrendered. This marks a considerable shift in the nation's energy strategy and underscores Canada's commitment towards reducing its carbon footprint and promoting sustainable energy practices. The news could also potentially […]

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February 22, 2024
Oil and Gas Industry's $50M Response to Activists in 2018

The ceaseless conflict first erupted in 2018, triggered by a state-wide ballot shift introduced by persistent activists. This drastic move precipitated an overwhelming response from the oil and gas industry, as seen in their whopping $50 million defensive strategy. The chain of events set in motion by this clash raised the proverbial storm, paving the […]

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February 22, 2024
ONEOK Acquires Magellan Midstream in $18.8B Deal

In a major consolidation within the U.S. oil and gas sector, ONEOK announced last year that it has entered into a landmark agreement to acquire Magellan Midstream Partners. The cash-and-stock transaction, worth a massive $18.8 billion, promises to generate a combined entity of considerable stature and influence in the American energy industry. 1. U.S. oil […]

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February 22, 2024
Lawsuit Targets American Petroleum Institute's Alleged Ties to Oil Industry

The lawsuit, recently filed, not only targets the major players in oil and gas but shockingly, names the nation's largest oil and gas lobbying group, the American Petroleum Institute. The group is claimed to be a defendant, implicated for allegedly orchestrating operations hand in hand with the oil industry. The allegations contend that these collaborations […]

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February 22, 2024
Exploring Oil Deposits in Tidelands Area

Welcome to our insightful post about the fascinating world of field oil deposits, focusing specifically on the area where Tidelands Oil Production operates on a grand scale. We're talking about an industry that influences global events and affects consumers directly. As we unravel intricacies of oil production, we will also shed light on various Thomson […]

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February 22, 2024
Final Offshore Oil, Gas Permits Relinquished in Canada's West Coast

In a major step forward for environmental conservation, the federal government has announced that the final offshore oil and gas permits for Canada's west coast region have been relinquished. This indicates a shift in energy policies, placing greater emphasis on sustainability and reducing harmful environmental impacts associated with oil and gas exploitation. The decision has […]

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February 22, 2024
Chicago Sues Six Oil Companies Over Alleged Disinformation Campaign

The city of Chicago launched a lawsuit against six major oil corporations, along with the primary fossil fuel advocacy group, on Tuesday. This aggressive action stems from allegations that these entities systematically funded and orchestrated a deceptive campaign. The objective of their alleged strategy was understood to be undermining public comprehension of climate change science […]

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February 22, 2024
Google to Use MethaneSAT Data for Oil/Gas Analysis

The company is set to revolutionize its environmental monitoring capabilities by integrating data from the MethaneSAT satellite into its Google Maps platform. This innovative approach is aimed at helping in the identification and understanding of the various types of oil and gas resources that significantly contribute to global methane emissions. It's a step forward in […]

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February 22, 2024
Oil and Gas Industry Faces Threat from Methane Emissions

Recent findings have put the oil and gas industry on high alert. A groundbreaking study has unearthed data that suggests the industry, currently responsible for a third of all methane emissions worldwide, could soon be facing some major repercussions. With escalating global concerns over climate change, these 'sticks' may soon turn into hard-hitting blows to […]

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February 22, 2024
Final Offshore Oil, Gas Permits Relinquished for Canada's West Coast

In a landmark announcement, the federal government confirmed that the last remaining offshore oil and gas permits for Canada's West Coast have been finally relinquished. This move, signalling the end of a long-controversial aspect of fossil fuel cultivation in British Columbia, follows prolonged public opposition and ongoing debates over environmental implications. The decision marks a […]

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February 22, 2024
Bill Changes Denied, Labour Pushes for Climate Tests

In a recent legislative update, the proposed amendments to a crucial bill were rejected. Notably, an amendment brought forward by the Labour party was excluded, which aimed to mandate the application of official climate change tests before authorizing any new oil and gas project. This would have potentially introduced a major shift in how environmental […]

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February 22, 2024
Exploring the Largest Shale Gas Reserves

Welcome to the Oil & Gas Journal, your key resource for insights and trends in the energy sector. We offer subscriptions to our comprehensive magazine that includes past issues, comprehensive surveys, and the latest industry news. One of the crucial topics we are currently covering is the unprecedented discovery in an oil-associated gas field. This […]

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February 22, 2024
Marathon Increases Oil and Gas Output by 21%

Marathon Oil Corporation has experienced a significant increase in its production output. The company reported a rise in its oil and gas production, reaching up to 404,000 barrels of oil equivalent per day (boepd) from the 333,000 boepd it recorded in the previous year. This significant upsurge underscores the company's successful execution of its performance […]

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February 22, 2024
Mayor Johnson's Administration Files Lawsuit Against Oil and Gas Industry

The administration of Mayor Brandon Johnson has taken a legal stand against the oil and gas industry, as detailed in a lawsuit filed on February 20th in Cook County Circuit Court. The claim centers on alleged environmental violations and infringements committed by the industry, marking a significant move in the city's fight against climate change […]

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February 21, 2024
Environmentalists Question Carbon Removal Industry's Job Creation Potential

Some environmental advocates continue to cast a doubtful eye on the carbon removal industry, questioning its potential to substantially address climate issues, and indeed, its promise of job creation. This skepticism, however, is not staunchly upheld in all quarters. In fact, in direct contrast to these apprehensions, California is emerging as a strong believer in […]

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February 21, 2024
Santos Joins Zero Methane Emissions Initiative

Australian energy industry giant, Santos, has recently announced its commitment to an environmentally conscious shift by becoming the latest oil and gas producer to join the Aiming for Zero Methane Emissions Initiative. This marks a significant move towards sustainable operations for the company, and further highlights the growing emphasis within the energy industry on reducing […]

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February 21, 2024
Comprehensive Coverage of Upstream Oil and Gas Markets

In the multi-faceted world of upstream oil and gas, we delve into everything from crude oil to Liquefied Petroleum Gas (LPG) and Natural Gas Liquids (NGLs), all the way through to natural gas and Liquified Natural Gas (LNG). The aim is to provide comprehensive coverage that serves as an essential support system for the upstream […]

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February 21, 2024
Vista Oil & Gas Surpasses Earnings and Revenue Estimates

Vista Oil & Gas, S.A.B. de C.V. Sponsored ADR (VIST) recently made a strong impression with its Q2 performance, outperforming predictions with a remarkably significant earnings surprise of 63.64%. This leading oil and gas corporation did not stop there with earnings; it managed to also surpass revenue expectations with a surprise of 10.77% for the […]

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February 21, 2024
Benchmark Energy Acquires to Boost Oil, Gas Ops

Benchmark Energy II is expected to experience a significant boost in its oil and gas operations following a recent acquisition. The move, as per industry experts, indicates the company's proactive approach towards strengthening their core operations and expanding their reach in the energy market. More details about this acquisition, which promises to make noticeable shifts […]

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February 21, 2024
Indiana Ranks Third in US Mint Production

According to the recent Census of Agriculture, Indiana takes pride in being the third-largest producer of mint across the United States. This renowned standing is due to the thriving mint farming sector in the state. The mint cultivated here showcases a distinct quality, offering a glimpse into its exceptional cultivation process, the unique regional soil […]

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February 21, 2024
Canada Secures Last Oil, Gas Permits off Pacific Coast

In a significant move demonstrating Canada's commitment to environmental preservation, the government announced that it has successfully secured the surrender of the last remaining permits for oil and gas development off its Pacific Coast. This is an important step towards the crucial global objective of mitigating climate change, reflecting the nation's progressive stance on reducing […]

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February 21, 2024
Oil and Gas Sector Sees 16% Decline in Contract Value

In the midst of fluctuating market conditions, the oil and gas sector has encountered a noteworthy drop, experiencing a quarter on quarter decline of 16 percent in disclosed contract value. This decline suggests a considerable downturn in the industry's performance and unveils the harsh reality of how these shifting dynamics have adversely affected industry operations. […]

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February 21, 2024
Groups Push for Chemical Ban in Oil Drilling

The federal government has recently put forth a proposition to classify certain chemicals as hazardous materials. This step towards more rigorous regulation is part of an initiative to oversee their use in various industrial applications, specifically in oil drilling. However, this move has stirred controversy in environmental circles. Despite recognizing it as a step in […]

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February 21, 2024
UK Offshore Oil, Gas Sector Pledges Net Zero Investment

The UK's offshore oil and gas industry has made a significant commitment to invest in oil and gas production, a strategic move that promises to greatly assist the sector in achieving its net-zero emissions target. This resolve to fund solutions for cleaner, more efficient methods highlights the industry's role in the global shift towards sustainable […]

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February 21, 2024
Decline in Oil Industry Zone Registration Total

Welcome to our community dedicated to news and updates from the Oil Industry Zone. If you are not registered, you are missing out on receiving daily email alerts, subscriber notes and the chance to personalize your own experience. In addition, you get access to important figures and statistics, for instance, how the total rates have […]

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February 21, 2024
Chicago Sues Six Oil Companies Over Climate Issues

On Tuesday, the city of Chicago launched a lawsuit against six major oil companies along with a prominent industry ally, marking its entry into an expanding group of local governments aiming to hold these corporations accountable for their alleged contribution to climate change. This strategic legal action symbolizes the city's commitment to challenge those they […]

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February 21, 2024
Chicago Sues Six Major Oil, Gas Companies and Energy Association

The city of Chicago has taken a major stand against climate change, targeting some of the key players in the global energy sector. In a massive legal move, the city has lodged a sweeping lawsuit against six of the world's largest oil and gas companies, along with a prominent energy industry association. The lawsuit alleges […]

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February 21, 2024
Chicago Sues Five Oil Giants, Seeks Billions in Damages

In a landmark move, the City of Chicago has launched a legal battle with five of the world's largest oil corporations. The city is demanding a whopping sum of billions of dollars in damages, alleging that these oil giants including the likes of Exxon Mobil and BP are responsible for dire environmental impacts. The lawsuit […]

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February 21, 2024
Report Reveals Big Oil and Plastic Industry's Recycling Deception

A groundbreaking report has significantly documented an unchecked, decades-long campaign of deliberate deceit and fraud, perpetuated by Big Oil companies and the plastics industry. This elaborate saga centers around the aggressive promotion of recycling as a panacea for the overwhelming plastic pollution problem afflicting our world. These industry giants reportedly misled the public into believing […]

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February 21, 2024
Holmes on Unique Work Ethic in Oil and Gas Industry

Front lines of this dynamic sector, Holmes staunchly dismisses the idea of a copy-and-paste work ethic. She understands that the constant flux within the oil and gas industry demands more than a repetitive or simplistic approach. As a woman in a field often dominated by men, she brings a unique perspective, tackling every challenge head-on […]

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February 21, 2024
Montana Unfit for Mandatory Oil and Gas Leases Bill

The proposed bill, decreeing compulsory oil and gas lease sales on a quarterly basis, appears to lack understanding and consideration of its implications for Montana - a state characterized by extensive federal public land. The legislators behind this bill seem to overlook Montana's distinctive environmental and economic circumstances, ignoring the reality that our expansive federal […]

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February 21, 2024
Oil and Gas Companies Lied About Smoking Dangers

In a shocking revelation akin to the scandals of the tobacco industry, it has come to light that the oil and gas industry too may have deliberately misled the public about perilous facts. Much like how the tobacco industry was found to have concealed the hazards of smoking and extensively marketed cigarettes towards the youth, […]

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February 21, 2024
Northern Territory's Largest Onshore Gas Field in Australia

Located in the heart of the Amadeus Basin, Australia, lies the Mereenie oil and gas field. Covering a significant portion of the basin, it holds the distinction of being the largest onshore gas field in the Northern Territory. Emerging as a significant contributor to the region's energy resources, the field brings together a combination of […]

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February 21, 2024
Chicago Sues Oil Companies for Climate Costs

Chicago has recently aligned itself with various other cities and states in taking legal action against oil companies. This legal crusade has been launched with the goal to hold fossil fuel producers financially accountable. The ongoing climate crisis has compelled these cities and states to demand accountability for the environmental damage contributed by these companies. […]

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February 21, 2024
EU Has No Need for Increased Oil, Gas Supply

In a significant development around Europe's energy policies, it has been announced that the European Union does not require an expanded oil and gas supply. Speaking on February 21, 2024, official spokesperson, Alex Ortiz declared that this latest position is part of the EU's broader commitment to reducing greenhouse gas emissions and transitioning to sustainable […]

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February 21, 2024
Regulators Increase Crackdown on Oil Companies

Over the past few years, regulators have dramatically increased their efforts to keep oil companies in check. This intensifying scrutiny involves a blend of meticulous on-the-ground inspections, aerial flyovers and a variety of other intrusive methods. They are performed with relentless determination, illustrating that the regulation agencies are more committed than ever to thoroughly monitor […]

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February 21, 2024
Chicago Sues Major Oil and Gas Companies

The city of Chicago has recently joined the growing list of entities to file lawsuits against some of America's largest oil and gas corporations. The allegations suggest that these companies knowingly contributed to unaddressed climate change issues, which have had far-reaching environmental and public health impacts. The decision to take legal action highlights the escalating […]

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February 21, 2024
Vista Oil & Gas Beats Zacks Estimate with $2.52 EPS

In their recent financial announcement, Vista Oil & Gas, S.A.B. de C.V. Sponsored ADR (VIST) have reported impressive quarterly earnings of $2.52 per share. These figures notably surpassed the Zacks Consensus Estimate, highlighting a positive trajectory for the company's earnings performance. 1. Vista Oil & Gas, S.A.B. de C.V. Sponsored ADR (VIST) reported strong quarterly […]

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February 21, 2024
City Files Lawsuit Against Major Oil & Gas Companies

The city has taken a major step in holding large oil and gas companies accountable for their impact on the environment. In a bold move, it recently filed a suit in Cook County Circuit Court against five major industry players– BP, Chevron, ConocoPhillips, Exxon Mobil, and Phillips 66. This new development is a pivotal point […]

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February 21, 2024
PetroSure Unveils Coverage Program for Onshore Oil, Gas Industry

PetroSure, a comprehensive multi-line insurance program, is designed specifically for the onshore oil and gas industry. Headquartered in Oklahoma City, Oklahoma, PetroSure offers an array of tailored services to meet the diverse needs of its clients. As a prominent player in the business landscape, PetroSure aims to provide the utmost security and protection to businesses […]

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February 21, 2024
Oil & Gas Firms Boost Non-Election Year Funding Amid NM Regulation Debates

In recent developments, the oil and gas industry has significantly ramped up their non-election year contributions to political figures in New Mexico. This surge in financial support comes amid intense debate within the state's Legislature concerning the formulation and implementation of new regulatory measures concerning the industry. The seemingly correlated timing between these contributions and […]

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February 21, 2024
ExxonMobil Plans Offshore Oil Production in Guyana

Situated over 200 kilometers off the coast of Guyana, a vast region spans over 6.6 million acres of untapped potential ready to be unleashed. This enormous expanse is where ExxonMobil, one of the world's largest publicly traded international Oil and Gas Company, aims to generate over 1.2 million barrels of oil and gas. The ambitious […]

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February 21, 2024
Predator Oil & Gas Stocks Decline on Tuesday

(Alliance News) - In recent stock market actions, shares in Predator Oil & Gas Holdings PLC experienced a significant drop on Tuesday. This downturn came into effect following the announcement of specific strategic shifts within the enterprise. This development has significantly impacted the company's position, creating an increased sense of uncertainty among investors and shareholders […]

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February 21, 2024
Chicago Sues Major Oil Firms Over Climate Change Lies

In an unprecedented move, the city of Chicago has announced a major lawsuit against five of the world's most prominent oil and gas companies. In a bold bid to fight back against environmental damage, the city is accusing these energy giants of spreading false information about their products and concealing the risks these pose to […]

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February 21, 2024
IADC: Global Collaborative Platform in Oil & Gas Drilling

The International Association of Drilling Contractors (IADC) is a global consortium with operations spanning six continents. Its primary function is to provide a collaborative platform for all stakeholders involved in the oil and gas drilling industry. Members of the IADC include oil and gas exploration companies, drilling contractors, service and supply companies, and various industry […]

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February 21, 2024
NZ Oil & Gas Acquires More Amadeus Basin Assets

New Zealand Oil & Gas (NZOG) has significantly expanded its footprint in the Australian energy market. On Feb. 19, 2024, NZOG announced its strategic move of acquiring additional assets in the prolific Amadeus Basin. This transaction underscores NZOG's commitment to asserting greater influence in the industry while diversifying its portfolio amidst shifting global energy dynamics. […]

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February 21, 2024
Neset Discusses the Future of Oil and Gas Industry

In a recent riveting interview with Scott Hennen, the renowned host of 'What's On Your Mind?' on AM 1100/FM 92.5, Kathy Neset intriguingly envisioned the future trajectory of the oil and gas industry. While contemplating a hypothetical scenario sans certain key components, her insights provided a stimulating discourse on where this pivotal sector could potentially […]

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February 21, 2024
Bank's Oil and Gas Lending Unaffected by New Rules

While significant strides have been made towards divestment from fossil-fuel financing, the majority of the bank's investments in oil and gas sectors remain unaffected by the newly implemented guidelines. These new regulations, designed to combat climate change and promote sustainable practices, have yet to substantially impact the financial backing of these traditional energy industries. This […]

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February 21, 2024
Oil and Gas Industry Uses Disinformation to Sustain Dependence

Just as the tobacco industry once did, the oil and gas industry is currently utilizing similar tactics of disinformation and fostering dependence on its products to guard their commercial interests. These ploys, aimed at manipulating public opinion and political discourse, not only enable the successful continuation of their businesses but also lead to a harmful […]

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February 21, 2024
City Sues American Petroleum Institute for Alleged Deception

The city has launched a lawsuit against the trade group, American Petroleum Institute, in what appears to be a major legal brawl. The city accuses the group of concocting a conspiracy with its affiliated companies to mislead consumers. The accusation centers on the companies' alleged concerted efforts to deliberately fabricate deceptive narratives about their activities, […]

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February 21, 2024
Oil Production Barely Profitable, Say Executives

Rising oil production costs are fast rendering the oil market barely profitable, according to insights from several industry executives. The ever-increasing expenses have reportedly been instrumental in companies missing out on several operational milestones. Recent findings by the Government Accountability Office further accentuate the pressure on oil and gas operators who have been grappling with […]

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February 21, 2024
GAO: Overdue Plugging and Removal in Oil, Gas Wells

The Government Accountability Office (GAO) has recently discovered that oil and gas operators have fallen far short of regulatory requirements in their operations. The agency revealed that these operators missed the one-year deadline to plug and abandon over 40% of their wells. Additionally, they failed to remove equipment from half of these sites, concerning authorities […]

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February 21, 2024
Greenpeace CTO Urges Tech Industry to Prioritize Sustainability

In a recent commentary, Priscilla Chomba-Kinywa, the Chief Technology Officer at Greenpeace, voiced the importance of environmental sustainability in the tech industry. To progress technologically without amplifying our carbon footprint, she reiterated, swift and substantial changes must be made within this sector. Chomba-Kinywa's insights shed light on an ever-increasing issue – how do we support […]

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February 21, 2024
Canada's Oil and Gas Shutdown's Minimal Impact on GHG Reduction

In a bold environmental paradigm, let's envision what would occur if Canada was to completely cease operation in its oil and gas sector by 2030. In doing so, this would consequently eliminate all greenhouse gas emissions that emanate from this sector. However, the subsequent reduction in the global emission portfolio needs to be scrutinized to […]

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February 21, 2024
HSBC Oil Optimistic as Prices Reach 3-Week Highs

Oil prices (BZ=F, CL=F) are hovering near 3-week highs, raising eyebrows among investors looking to balance their portfolios. The currently volatile energy sector, largely driven by such fluctuations, can appear intimidating for those considering to buy into it. Financial services like HSBC Oil may play a crucial role in navigating investment choices within this sector […]

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February 21, 2024
Santos Sees 42% Drop in Annual Underlying Profit

Santos, the renowned Australian oil and gas producer, published its annual financial report on Wednesday, revealing a significant 42% descent in its underlying profit. The precipitous fall has been attributed to the persistent weakness in global oil and gas markets, shaping a relentless challenge for the energy industry, and subsequently, Santos's revenue streams. 1. Australian […]

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February 21, 2024
Ohio Green Groups Seek Halt on Oil & Gas Commission Meeting

The Ohio Environmental Council, in cooperation with earth-advocacy group Earthjustice, made an assertive move on Tuesday, filing a motion to impede a scheduled meeting of the Oil and Gas Land Management Commission in Columbus, Ohio. The move is part of their on-going scrutiny towards activities perceived to pose risks to the environment and public health. […]

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February 21, 2024
Chicago Sues Six Oil and Gas Corporations

The city of Chicago has taken six major oil and gas companies to court, alleging fraudulent practices. Chicago's legal representatives assert that these corporate giants have been intentionally misleading local consumers regarding the environmental impact of their products. The litigation is part of a wider movement towards corporate accountability, as cities increasingly demand transparency and […]

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February 21, 2024
Chicago Sues Oil and Gas Companies for Climate Fraud

The city of Chicago initiated a groundbreaking climate fraud lawsuit against major oil and gas companies on Tuesday. Leveraging local laws, Chicago's legal case alleges these companies have knowingly contributed to climate change. This exciting move marks an innovative drive towards holding corporations accountable for their part in the global environmental crisis. 1. The city […]

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February 20, 2024
Minister Promises Continued Federal Engagement in Oil Industry

In a recent press release, Minister of State, Heineken Lokpobiri, who presides over Petroleum Resources, assured Nigerians that the federal government remains committed to ongoing engagements with different stakeholders in the petroleum sector. This reassurance comes amid increased national demand for heightened dialogue and policy action in the oil industry. 1. The Minister of State, […]

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February 20, 2024
Vietnam Ups Cooking Oil Imports due to Local Shortfall

The recent shortfall has significantly impacted Vietnam's cooking oil sector, necessitating an increase in imports to meet the burgeoning local consumer demand. Stirring notable interest in this predicament are Malaysia and other countries, whose involvement will play a crucial role in alleviating this supply-demand discrepancy. This blog post will delve into the particulars of this […]

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February 20, 2024
Canada's Climate Progress Hindered by Oil Sands Industry

Canada's strides towards climate progress have hit a significant snag. Despite numerous efforts to facilitate sustainable environmental practices, the crude reality of its position as a leading provider of oil and gas in the global market place has some counterproductive implications for the country's climate health. Remarkably, the country's oil and gas industry has been […]

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February 20, 2024
New EPA Rules Aim to Curb Methane Emissions

In December, the US Environmental Protection Agency (EPA) issued new regulations aimed at curtailing an estimated 58 million tons of methane emissions. This proactive move is part of an integrated strategy to combat climate change by reducing highly potent greenhouse gas emissions that contribute significantly to global warming. 1. In December, the US Environmental Protection […]

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February 20, 2024
Sanctions Impact Russian Oil Industry by $21.6 Billion Yearly

The oil industry, a crucial pillar of global energy supply, contributes to approximately 2 trillion rubles (around $21.6 billion) annually. However, the landscape of this key sector has dramatically altered since the introduction of sanctions. These developments have drastically impacted oil production and distribution volumes, resulting in significant shifts in the overall dynamics of international […]

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February 20, 2024
Biden's Methane Pollution Fines to Impact Oil Companies

In a pivotal turn of events, President Biden's new climate law introduces penalties for oil companies for methane pollution, highlighting a dire need for a more sustainable environment. The impending legislation essentially indicates that the bill is rapidly accruing and oil companies may soon be facing substantial fines. Recent studies imply that the impending impact […]

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February 20, 2024
Parliament Member Criticizes Anti-Oil and Gas Bill

Resource Works' Margareta Dovgal was in disbelief over a private member's bill in Parliament. It seemed inconceivable - a proposal that could potentially lead to imprisonment for simply expressing positivity towards the oil and gas industry. Yet, there it was before her, in black and white. A stark confirmation that, yes, such a proposition had […]

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February 20, 2024
Engineer Spends Decade in Oil and Gas Industry After Graduation

After securing his master of engineering degree in electronics and electrical engineering, our protagonist embarked on an impressive 10-year journey in the highly competitive oil and gas industry. His experience during this decade was filled with insightful learnings, challenges and triumphs. This post aims to delve into his story, chronicling ambitious project undertakings, his significant […]

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February 20, 2024
Supporting UK's Oil, Gas Sector for Domestic Production

In an effort to sustainably power Britain's future, it is equally important to strategically leverage all our energy resources. Alongside scaling up our investments and transitions into renewables and nuclear power, the government recognizes the vital role oil and gas currently play in our energy industries. Hence, we are providing robust backing to Britain's oil […]

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February 20, 2024
Oil and Plastic Firms Accused of Fuelling Climate Crisis

The Center for Climate Integrity is making bold accusations against the oil and plastic industries, alleging that decades of disinformation fuelled by these sectors have played a pivotal role in the current global environmental crisis. The organization implies that the widespread lack of understanding and underestimation of climate change can be directly attributed to deliberate […]

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February 20, 2024
The Origins of America's Oil Industry

The birth of America's oil industry can be traced back to the exploration and extraction of oil, a significant milestone in the nation's economic history. This pivotal historical event involved the initial drilling depth of 69.5 feet, which is approximately the same as the blade size of a 0.5 MW wind turbine. This depth, though […]

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February 20, 2024
Namibia's Petroleum Industry Advances Energy Ambitions

WINDHOEK, Feb. 20 (Xinhua) -- Making strides in their commitment to spearhead advancements in the energy sector, Namibia's petroleum industry hosted a two-day event that showcased a comprehensive agenda centred around energy ambitions. The initiative serves as a testament to Namibia's collective desire to drive the growth of the industry whilst investing in sustainable practices […]

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February 20, 2024
Top 5 Oil Firms Earn Over $250bn Post-Ukraine Crisis

In the wake of Russia's invasion of Ukraine, the world's five largest listed oil companies have reported staggering profits, collectively exceeding a quarter of a trillion dollars. This surge in profits clearly illustrates how global geopolitical tensions and conflicts can dramatically impact the oil market, often resulting in vast fiscal gains for industry leaders. Today, […]

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February 20, 2024
Cryptocurrency and Data Mining Stir Zoning Controversy in Pennsylvania

The persistent queries regarding the zoning policies for oil and gas development operations in Pennsylvania are now getting tangled with an equally bewildering and modern conundrum - cryptocurrency and data mining. Over the years, traditional industries have constantly faced scrutiny and debate over their spatial allocations and effects on local communities, but now these disputes […]

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February 20, 2024
Geographical Expansion Boosts Petroleum Sector Growth

The persistent geographical expansion of the petroleum sector marks a prosperous era for industry enterprises, thanks to escalating demand. As several developing economies invest substantial amounts into their infrastructural growth, the need for petroleum products is anticipated to rise significantly. This surge in demand is not only strengthening the global petroleum market but is also […]

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February 20, 2024
AEB's Plan to Fund Oil and Gas Projects in Africa

The African Energy Bank (AEB) has set out to bridge the significant deficit resulting from limitations on financing oil and gas undertakings in Africa. This issue has particularly resonated within the oil industry over recent years. Continual restrictions on funding have hindered development and potentially lucrative opportunities within the continent. Today, we delve deeper into […]

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February 20, 2024
Overview of McCown's Indictment: M&M and Shoreline Ownership

In a significant turn of events, an indictment reveals that between the period of January 24, 2017, and June 5, 2023, an individual by the name of McCown was reportedly the owner of two enterprises - M&M Production & Operation, Inc. (M&M) and Shoreline Oil & Gas. This recent revelation encompasses a period of more […]

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February 20, 2024
UK Oil Drilling Bill Risks Foreign Lawsuits

The United Kingdom's proposed oil drilling projects could potentially lead to an influx of lawsuits from international oil and gas companies. This controversial move follows the introduction of the Offshore Petroleum Licensing Bill, which if approved, could expose the UK to significant legal challenges from global petroleum giants. As the UK reshapes its energy policies […]

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February 20, 2024
Tyler County Denies West Virginia Tax Relief Application

The Tyler County commissioners in Middlebourne, West Virginia, have recently dismissed an application for relief mounted by a taxpayer in an apparent case of erroneous assessment, according to the West Virginia Tax Department. The specifics surrounding this unusual tax dispute remain undisclosed, however, it underscores the ongoing challenges and complexities residents encounter in the domain […]

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February 20, 2024
Oil Industry Shift Leads to Increased Prices

Hello and welcome back to Energy Source, today's episode is broadcasting straight from the heart of Texas. in light of recent major developments in the oil industry, specifically concerning Occidental Petroleum that could potentially lead to higher market prices. Yesterday marked a significant shift for the industry’s giants... 1. This episode of Energy Source is […]

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February 20, 2024
Global Sanctions Impact Unprecedented Share of Oil Production

In the wake of the West's decision to impose sanctions on Russia's oil industry, our global energy landscape finds itself in an unprecedented predicament. For the first time in history, a larger share of world oil production is under sanctions than ever before. This seismic shift has sent ripples through international markets and global politics […]

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February 20, 2024
Oil and Gas Wealth to Boost Economy, Conference Reveals Plans

At the conference's opening day, officials unveiled comprehensive plans to utilize their oil and gas wealth as a catalyst to reform and diversify their economy. They articulated strategies intended to capitalize on their lucrative energy resources not just as a revenue stream, but as a powerful tool for socio-economic transformation. In an unconventional twist, these […]

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February 20, 2024
Australian Energy Giants Predict Earnings Plunge Due to Oil Prices

In light of persistently low oil prices, Australia's premier energy corporations, Woodside Energy and Santos, are projected to report a sharp decline in their annual revenues. The economic pressures created by the global oil price slump have directly affected these industry leaders, hinting at the broader implications for the Australian energy sector, and ultimately, the […]

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February 20, 2024
Parex Halts Colombian Oil Operations Amid Protests, Threats

Canadian-based Parex Resources Inc. has announced a halt to its oil extraction operations in Capachos, located in the Arauca department of Colombia. The action is a response to increasing social protests and growing threat from armed groups within the region. This decision signals intensifying issues concerning security and social unrest, which could potentially impact Colombia's […]

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February 20, 2024
NZOG to Buy 25% More Equity in Mereenie Licenses

The New Zealand Oil & Gas Group (NZOG) has recently announced its intentions to acquire an additional 25% equity stake in the Mereenie licenses situated in the Amadeus Basin, Northern Australia. This move is set to bolster NZOG's presence in the region, further cementing its position in the nation's thriving energy sector. 1. The New […]

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February 20, 2024
Big Five Oil Companies Net Over $250 Billion in Profits

In the robust world of oil and gas industries, five of the most prominent giants – BP, Chevron, ExxonMobil, Shell, and TotalEnergies – have registered remarkable financial success. These key industry players have collectively yielded an overwhelming sum exceeding a quarter of a trillion dollars in profits. This striking figure symbolizes their collective economic prowess […]

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February 20, 2024
Argentina's Shale Boom Amid Economic Crisis and Colombia Challenges

The sudden boom of shale oil in Argentina has surprisingly synchronized with a period of severe economic crisis and political upheaval under the leadership of President Milei. It seems like a paradox, an economic promise amidst chaos. On the other hand, Colombia, a nation known for its vast natural resources, is confronted with an array […]

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February 20, 2024
Oil Firms Report $281 Billion Profits Post-Ukraine Invasion

Oil companies have amassed staggering profits of $281 billion in the aftermath of the Ukraine invasion, marking a major shift in their financial playing field. This surge in earnings has enabled them to scale back various operational and financial commitments, opening new avenues for growth and developments. The record profits underscore the massive windfall that […]

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February 20, 2024
Uganda Oil & Gas Insurance Sector Made $13M in 2023

The Consortium for Oil and Gas Uganda, comprised of local insurance sector players, has reported significant growth in their 2023 fiscal year. The announcement asserts that the players within the consortium were able to post 13 million dollars out of the total revenue generated. This substantial sum evidences the expanding influence and increasing success within […]

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February 20, 2024
EPA Identifies Oil, Gas as Major Methane Sources in USA

In a striking revelation by foremost environmental researcher, Levy Uyeda, the Environmental Protection Agency (EPA) posits that oil and gas stand as the chief industrial contributors to methane emissions across the United States. In the wake of escalating global warming concerns, this information has intensified the urgency of establishing comprehensive emission control measures. This article […]

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February 20, 2024
Western Sanctions Cap Russian Oil at $60 per Barrel

In recent times, Western powers have initiated stringent measures to restrain Russian President Vladimir Putin's political maneuverability and economic influence on the global stage. Amongst these measures lies the strategic targeting of one of Russia's primary income channels - its thriving oil industry. The West has imposed harsh sanctions aimed at undermining this sector, most […]

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February 20, 2024
Magnolia Oil & Gas Corporation Shares Rise 3.4%

Investors of Magnolia Oil & Gas Corporation (NYSE: MGY) let out a collective sigh of relief as they had a positive week marked by a significant 3.4% rise in its share value. By the week's closing, the company's shares managed to reach a promising US$21.42 compared to previous trends. 1. Investors experienced a positive week […]

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February 20, 2024
Investing in Sector ETFs for Diversified Exposure

Exchange Traded Funds (ETFs) focused on specific economic sectors, also known as Sector ETFs, are becoming increasingly popular among savvy investors. These investment tools enable individuals to invest in a wide array of companies within distinct sectors, providing both low-risk and highly diversified investment exposure. The energy sector, in particular, has piqued the interest of […]

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February 20, 2024
OGDCL Strikes Major Gas-Condensate Discovery in Khewari

Oil and Gas Development Co. Ltd. (OGDCL) has announced a major gas-condensate discovery at the Kharo-1 exploration well located in the Khewari exploration region. This significant find marks a major milestone in the company's ongoing efforts to boost natural gas production and expand resources. This post will delve into the details of this discovery and […]

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February 20, 2024
West House Bill 4850 to Revise Oil, Gas Tax Laws

The West Virginia Legislature is set to consider a crucial piece of legislation that could significantly impact oil and gas property taxes. The proposed House Bill 4850 aims to eliminate a sunset provision within the existing code section, which currently determines the methodology for assessing these taxes. If passed, this updated tax structure could bring […]

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February 20, 2024
Oil and Gas Firms Accused of Exploiting R&D Funds for Fracking

Major oil and gas corporations might have been exploiting taxpayer funds under the guise of a research and development scheme, which was primarily allocated for fracking purposes. This potential misappropriation of public resources raises serious questions about the ethical business practices of these firms, regulatory oversight, and how effectively the industry's financial incentives are structured. […]

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February 20, 2024
Alaska Oil Firms Implement Emission Reduction Goals

The Department of Natural Resources (DNR) has recently highlighted the commendable strides taken by numerous oil companies in Alaska. In an effort to combat climate change, these companies have chosen to implement strategic goals aimed at limiting the release of harmful greenhouse gases stemming from their oil-field operations. This developing trend signifies a meaningful shift […]

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February 19, 2024
Gabon Oil Firm Finalises $1.3bn Assala Energy Acquisition

Gabon's state-owned oil firm, Gabon National Oil Company (GNO), has successfully inked a deal to purchase Assala Energy from the international investment firm, Carlyle Group for a staggering $1.3bn. The significant move, founded on its pre-emptive rights, marks a major milestone in the West African nation's endeavour to establish more direct control over its considerable […]

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February 19, 2024
Santander, HSBC Assist Petroperú Despite Oil Spills

As two major global banking institutions, Santander and HSBC played a significant role in the recent bond issuance of Petroperú, an oil company with a contentious record of extensive oil spills in the Amazon. Despite the environmental controversies linked with Petroperú, the banking giants moved forward with the bond issuance, drawing attention to the ongoing […]

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February 19, 2024
Gulf's Smallest Economy Aims to Strengthen US Ties, Boost FDI

In the geopolitical chessboard of the Middle East, Bahrain remains quite a unique subject. Known to be the smallest economy in the Gulf, it has been diligently working on strengthening its international relations, particularly with the United States. Simultaneously, there is also a noticeable and steady increase in Foreign Direct Investment (FDI) in the nation. […]

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February 19, 2024
Wildcat Petroleum PLC: A Key Investor in Upstream Sector

Wildcat Petroleum PLC, an Uxbridge, London-based investor, is making a significant impact in the petroleum industry’s upstream sector. With an exceptional understanding of innovative strategies and a keen interest in advanced technologies, they are revolutionizing the upstream operations in the petroleum industry. In this post, we unravel how Wildcat Petroleum is influencing the sector and […]

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February 19, 2024
Nigeria Slowly Countering Investment Dip in Oil, Gas: NUPRC

In recent updates, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has affirmed that Nigeria is slowly but surely reversing the investment decline that has been plaguing the country's oil and gas sector. The commission emphasized the steady attraction of new investments, noting the government's strategies and concerted efforts in creating an enabling environment that promotes […]

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February 19, 2024
US Sanctions Threat Affects Turkish-Russian Trade

The recent U.S. threat to impose sanctions on financial institutions engaged in business with Russia has notably impacted Turkish-Russian trade relations. Several disruptions and noticeable slowdowns in various sectors have been reported, as the looming sanctions have introduced a new level of risk for companies operating between the two nations. This has generated a climate […]

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February 19, 2024
Windfall Tax Key to Financing Shift to Renewables

The concept of a windfall tax is often met with controversy, but as we grapple with the dire need to address climate change, it's becoming increasingly clear that such a measure can be pivotal in funding a Just Transition to renewable energy sources. As the planet continues to deal with the impacts of global warming, […]

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February 19, 2024
Party Drops Plans for Net Zero Economy Support

In a significant policy shift, the Finance Minister has announced that the ruling party is abandoning its previous commitment to foster the sector's just transition to a net zero emissions economy. Revealing the news in a press conference, the minister stated that considered decisions had to be made in favor of more pressing economic concerns, […]

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February 19, 2024
The High Turnover of Prime Ministers and Energy Ministers

In the ever-revolving carousel of politics, Prime Ministers routinely rise and fall. Similarly, Energy Ministers, trusted with the monumental task of securing our power needs, are anointed to their positions only to be briskly ousted in short order as though they never held the position. Their fleeting tenures, often bereft of significant policy contributions, paint […]

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February 19, 2024
Middle East Oil Giants Facing New Challenges

For leading industry companies such as Saudi Aramco, the Abu Dhabi National Oil Company (ADNOC), Petroleum Development Oman, and Kuwait Petroleum Corporation, navigating the complexities of the global oil market comes with its own set of unique challenges. The dynamics of this sector are ever-evolving, driven by a multitude of factors such as geopolitical climates, […]

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February 19, 2024
Analyzing Clean Energy Investments in the MENA Region

In his insightful explorations, he concentrates primarily on dissecting investments in clean energy within the Middle East and North Africa (MENA) region. His examination dives into the intricate dance of interdependence and tension between geopolitics and the evolving energy landscape. Fueled by an innate curiosity and expert understanding, he skillfully unravels the complexities, carefully identifying […]

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February 19, 2024
Scottish First Minister Opposes Extended Windfall Tax

The first minister of Scotland has voiced his concerns over the suggested increase and extension of the windfall tax on the energy sector, warning that it could lead to countless jobs losses. The leader argued that such a move would be akin to 'throwing workers on the scrapheap', further worsening the strain on the economy […]

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February 19, 2024
EPA Proposes New Rule Implementation on Jan 12, 2024

In an unprecedented move on January 12, 2024, the U.S. Environmental Protection Agency (EPA) revealed their intentions to enact a new groundbreaking rule. This proposed regulation, still under wraps, has been reticently brought to the public attention in an effort to increase transparency and stakeholder engagement in pivotal environmental decision making. With that being said, […]

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February 19, 2024
Warrior Natural Gas Pipeline Secures 25% Capacity Commitments

Energy Transfer Partners LP, a leading pipeline company in the U.S., has secured commitments for approximately 25% of the capacity of its forthcoming 1.5-2 billion cubic feet per day (bcfd) Warrior natural gas pipeline project. The information was made public by the company's co-chief, reflecting a positive start for the venture and marking a key […]

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February 19, 2024
Rosneft Reports 47.2% Net Profit Increase in 2023

Rosneft, Russia's largest oil producer, revealed on Monday a significant 47.2% surge in its 2023 net profit, amassing a total of 1.3 trillion roubles (equivalent to $14.07 billion). The impressive profit hike comes along with company's announcement that it is ... 1. Russia's largest oil producer, Rosneft, announced a 47.2% surge in its 2023 net […]

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February 19, 2024
Baker Hughes Reveals Current Rig Count Breakdown

According to the latest statistics by Baker Hughes, the composition of the rig count includes 497 oil rigs, 121 gas rigs, along with three miscellaneous rigs. These figures indicate a comprehensive insight into the current standing of the nation's drilling industry. The data unveils the vital fact that the country has... 1. Baker Hughes disclosed […]

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February 19, 2024
Global Citrus Oil Demand Analysis in Latest Report

Custom Market Insights has recently published an extensive market research study that delves into the global citrus oil market. The comprehensive report, which spans over 220 pages, carries out a detailed demand analysis of the citrus oil industry. This exhaustive study has been meticulously prepared to provide an in-depth understanding of various market dynamics that […]

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February 19, 2024
Saudi Pause on Expansion Unlikely to Impact Marjan, Zuluf Oilfields

Saudi Arabia's decision to halt further development initiatives seemingly does not pose a threat to the ongoing expansion projects associated with the Marjan and Zuluf oilfields. These significant projects, deeply intertwined with the world's oil economy, are likely to continue unabated despite various other strategic changes in the Kingdom's economic landscape. The following sections delve […]

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February 19, 2024
EPA Proposes New Regulations to Cut Methane Emissions

The Environmental Protection Agency (EPA) has recently unveiled a proposal in its ongoing endeavor to mitigate the climatic impact of methane, a highly potent greenhouse gas. This proposal specifically targets the methane emissions originating from oil fields. Pegged as the latest in a long line of regulatory efforts, the ambitious initiative underscores the growing intensity […]

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February 19, 2024
UK Train-Leasing Firms' Profits Triple in a Year

Private railway leasing firms in Britain are experiencing a significant surge in profitability, witnessing their profits triple within a span of just a year. In the midst of this profit boom, these firms collectively paid out over £400m in dividends, reflecting a robust growth within the sector. 1. Private railway leasing firms in Britain experienced […]

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February 19, 2024
Oil and Gas Industry Pressured to Reduce Methane Emissions

The oil and gas industry has been spotlighted lately for its significant contribution to global greenhouse gas emissions, particularly methane which has a far greater impact on global warming than carbon dioxide. As concerns about climate change rise, this sector is facing increasing pressure to dramatically reduce methane emissions. The persistence of high methane levels […]

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February 19, 2024
First High-Pressure Subsea Project Contract Signed

This article takes an in-depth look at a significant milestone in the world of subsea engineering - the completion of the first integrated engineering, procurement, construction, and installation (EPCI) project using high-pressure subsea production. This pioneering contract not only represents a significant leap for the ever-evolving field of subsea engineering but also opens up countless […]

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February 19, 2024
Oil Producers Profiting from Russia-Ukraine War

As we approach the second anniversary of the ongoing Russia-Ukraine conflict, it's not only weapons manufacturers reaping significant profits. Oil production companies too are enjoying an unexpected boost in revenue, profiting off the volatile state of global politics. The face of war is not just the physicality of battlefield, but it also significantly impacts the […]

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February 19, 2024
Permian Basin Nuclear Fuel Storage Faces Oil Industry Opposition

The proposal to temporarily store used nuclear fuel in the Permian Basin, a rich oil and gas area, has the potential to rejuvenate the nuclear sector. However, this idea is not without opposition, as it has met with stringent resistance from oil and gas producers who voice concerns over potential risks and hazards. As we […]

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February 19, 2024
Google to Map Global Oil, Gas Infrastructure for Methane Tracking

Google has made a significant move towards environmental sustainability, as the tech giant recently announced plans to create a global map of oil and gas infrastructure. This innovative approach aims to better comprehend the source of methane emissions, a significant contributor to the escalating global warming crisis. The forthcoming project underscores Google's commitment to leveraging […]

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February 19, 2024
Australian Minister Proposes Stronger Safety Laws

Australia's Minister for Resources and Northern Australia, Madeleine King, has presented new legislation designed to bolster the existing laws that pertain to the safety measures within her jurisdiction. This action underscores the government's heightened attention to enhancing the safety protocols in place for sectors under King's purview such as mining, energy production, and other associated […]

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February 19, 2024
Nuclear Power as a Temporary Solution to Fossil Fuels

Nuclear power, in numerous respects, stands as an apt interim solution in the global endeavor to relinquish the eco-detrimental fossil fuels. The merits of nuclear power are substantial - it offers considerable energy generation without releasing greenhouse gases into the atmosphere. It piques the interest of those committed to addressing the pressing issue of climate […]

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February 19, 2024
Oil and Gas Industry Sees 16% QoQ Drop in Contract Volume

In the midst of changing market dynamics, the oil and gas industry has experienced a substantial decrease in disclosed contract volume. Corresponding to the most recent quarterly data, there was a significant 16% decline from the previous quarter. This considerable drop is indicative of the challenging and complex landscape that the industry has to navigate, […]

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February 19, 2024
Nigeria's Central Bank Regulates Oil Export Proceeds Transfer

In a significant move aimed at enhancing economic stability, the Central Bank of Nigeria (CBN) has made a strategic decision to regulate the migration of export proceeds by international oil companies (IOCs). This follows concerns raised over these companies remitting significant sums of money to their parent organizations outside Nigeria, potentially causing a strain on […]

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February 19, 2024
Crude Oil Output to Rise by 170,000 Barrels Daily in 2024

According to projections, there will be a significant slowdown in the growth rate of the country's crude oil production in the coming years. From an increase of over 1 million barrels a day last year, the expansion is estimated to shrink considerably, to just 170,000 barrels a day by 2024. This dramatic change reflects the […]

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February 19, 2024
EU, US Oil Firms Earn $250B Since Russia-Ukraine Conflict

A new report reveals that European and US oil and gas majors have raked in over a quarter of a trillion dollars in profits in the backdrop of Russia's invasion of Ukraine. These significant earnings illustrate the immense financial gains for the energy sector amidst the geopolitical turmoil, shedding light on how international conflicts can […]

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February 19, 2024
Oil and Gas Industry's Impact on National GDP and Revenues

The vitality of the oil and gas industry cannot be understated, encompassing approximately 16% of the nation's Gross Domestic Product (GDP) and contributing more than 20% to budget revenues. These figures demonstrate the industry's significant role in bolstering economic growth and stability. Nevertheless, despite the sector's substantial fiscal contribution, oil production figures remain surprisingly low, […]

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February 19, 2024
Iran's NDF to Invest $35 Billion in Oil Industry

TEHRAN - The Chief Executive of Iran's National Development Fund (NDF) has announced ambitious investment plans targeting the nation's oil industry. Over the next half-decade, the fund is set to funnel $35 billion into the sector; a move that underpins the significance of the oil industry in Iran's ongoing economic development and growth. 1. The […]

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February 19, 2024
AALI Invests IDR 1.5 Trillion in Palm Plant Rejuvenation

Agribusiness titan, AALI, has announced a significant investment of IDR 1.5 trillion towards the revivification of unproductive palm plants. This initiative underscores the company's commitment to sustainability and preservation of the environment. The main thrust of this cash injection is to promote environmentally friendly practices in an industry often lambasted for its deleterious impacts on […]

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February 19, 2024
Lagging Tech Adoption in Land Services Industry

In many businesses, land services functions are traditionally siloed, often trailing behind other operational areas in terms of technological advancement. This is markedly peculiar considering the critical role that land services play. Owning, developing, and managing land necessitates meticulous record-keeping, frequently extensive regulatory compliance, and engagement with numerous stakeholders. Despite these inherent complexities, the land […]

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February 19, 2024
Evaluating ECOPETROL as a Large Cap Stock in Oil & Gas Industry

In the bustling sector of Oil & Gas Operations, ECOPETROL SA (ADR) (EC) stands out as a strong large-cap value stock. This noteworthy oil conglomerate's performance has been closely examined and rated in line with an investment strategy framed around the philosophies of renowned investor, David Dreman. The resulting rating vital for potential investors is... […]

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February 19, 2024
Diamondback Energy Buys Endeavor for $26B

In a significant consolidation within the oil and gas industry, Diamondback Energy revealed on Monday that it has bought Endeavor Energy for a staggering $26 billion, uniting two of the top-tier producers in the highly valuable Permian Basin. This merger arranges for the formation of a powerhouse in the energy market, showcasing the ongoing trend […]

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February 19, 2024
California Resources Corp: A Mid-Cap Value Stock in Oil & Gas Operations

In the world of Oil & Gas Operations industry, California Resources Corp (CRC), a mid-cap value stock, is carving out its own niche. Our strategic evaluation, based on multiple critical financial parameters, sheds light on the investment potential this company holds, its existing market performance, and projected growth trends. This assessment will act as a […]

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February 19, 2024
API Challenges 2024-2029 Gulf of Mexico Policies in Court

The American Petroleum Institute (API) has lodged a petition with the U.S. Court of Appeals for the District of Columbia, according to recently released documents. The petition discusses a disagreement related to the proposed plans for the Gulf of Mexico for the years 2024-2029. This move stands as a major development in the ongoing discussions […]

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February 19, 2024
Canadian Oil Producers Miss Out on M&A Boom

As mergers and acquisitions (M&A) frenzy engulfs the U.S. oil sector, it seems that their Canadian counterparts are left out of the loop. With the trend displaying no signs of slowing down, it becomes apparent that mid-tier Canadian oil producers have not been earmarked for such strategic consolidations. 1. There has been a surge of […]

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February 19, 2024
Port of Los Angeles Sees Huge Surge in TEU Volumes

The Port of Los Angeles, a critical indicator of global trade flows situated on the Red Sea, has noted a substantial 38.6% surge in TEU (Twenty-Foot Equivalent Units) volumes. This considerable uptick signals a robust rebound in commercial activities, laying the groundwork for positivity in the economic arena. Following the crippling consequences of the global […]

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February 19, 2024
Refiners Forecast Margin Improvement Amid Uncertain OPEC+ Output Plan

South Korea's oil refiners are closely monitoring developments related to supply and demand in international crude oil markets. The pivotal factors currently being assessed include the anticipated improvement in margins, the yet-to-be-confirmed output plan of OPEC+ post-March, and the ample availability of Saudi and US crude for Asia. These elements provide a comprehensive outlook on […]

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February 19, 2024
OEUK Criticizes Keir Starmer's Energy Policy

Offshore Energies UK (OEUK), an industry group, provided scathing feedback on the policy put forward by Labour leader Sir Keir Starmer, terming it a 'hammer blow'. The organisation, which previously cautioned about the potential adverse impacts of the policy, criticised Starmer's scheme for its potential to wreak havoc on the energy industry. 1. Offshore Energies […]

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February 19, 2024
China Encourages Car Manufacturers to Boost Exports, BYD Amplifies Export Goals

In a surge of augmentative ambition, China's government is aggressively pushing its automotive manufacturers to expand overseas, particularly the electric-vehicle behemoth, BYD. This rapid uptick in export targets coincides with an exodus of Tech leaders from the erstwhile tech-hub, San Francisco. The convergency of these two events marks a profound shift in the global technology […]

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February 19, 2024
Environmental Groups Shouldn't Oppose Plastic Recycling Effort

It seems quite counterintuitive for environmental advocacy groups to declare companies and individuals, who tirelessly work and invest towards boosting the plastic recycling rate, as adversaries. At first glance, it might come across as a perplexing and unreasonable hostility, given that both groups seem to strive for the same broad outcomes, namely the reduction of […]

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February 19, 2024
Starmer's Policy Deemed Damaging by Offshore Energies UK

Industry group Offshore Energies UK has raised the alarm over Labour leader Sir Keir Starmer's proposed policy, warning that it could deal a 'hammer blow' to the sector. The organisation expressed concerns that the potential ramifications could be far-reaching and have a detrimental impact on the offshore energy industry across the UK. 1. Industry group […]

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February 19, 2024
Two Wells Yield Over 1000 bopd, Further Increases Anticipated

Currently, the duo of operational wells are jointly producing over 1000 barrels of oil per day (bopd), a remarkable feat in the oil industry. Morgan, the man behind this venture, is hopeful of an escalated productivity rate in the foreseeable future. As the wells continue their flowback process, there is a palpable sense of anticipation […]

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February 19, 2024
UAE Records High Non-Oil Trade Volume in 2023

In 2023, The United Arab Emirates (UAE) witnessed an unprecedented surge in its non-oil trade volume with a record high of $952.93 billion, according to official reports. This marked a notable increase of 12.6 per cent compared to the previous years, underlining the nation's successful economic diversification efforts away from oil-dependency. 1. In 2023, The […]

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February 19, 2024
Forecasted Glut and Low Oil Prices to Impact Lithium Demand

The long-term global forecast predicts a substantial growth in the demand for lithium, a key element in the production of electric vehicle (EV) batteries. Despite this eventual upswing, in the short term, the industry appears to be bracing for a period of oversupply, or glut, compounded by persistently low oil prices - a circumstance that […]

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February 19, 2024
NUPRC CEO Gbenga Komolafe Gives Statement in Lagos

In a recent interview, Mr. Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), shared his perspectives and insights on the current situation and future prospects of the Nigerian petroleum sector. Speaking at a press event held in Lagos over the weekend, Komolafe shed light on the achievements, challenges, and initiatives of […]

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February 19, 2024
2023 Marks Record Year for Shale Industry Mergers

For years, Wall Street maintained a hardened skepticism towards the notorious boom-and-bust cycles of the Shale industry. The volatile nature of this sector often created an air of uncertainty that most investors found hard to navigate. However, a marked shift seemed to occur in 2023 when the industry witnessed a sudden surge in its financial […]

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February 19, 2024
Permian Basin Nuclear Fuel Storage May Aid Sector

The prospective plans to temporarily store used nuclear fuel in the Permian Basin, commonly known for its massive oil fields, have sparked a new wave of debate. This initiative promises remarkable support to the nuclear industry by providing an efficient disposal method for nuclear waste. However, it is simultaneously meeting resistance from oil-and-gas producers who […]

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February 19, 2024
Business Leaders Urge Government to Boost Domestic Energy Exploration

There has been a recent rallying cry from the business sector, pressing the government to escalate endeavors towards the exploration of oil, coal, and gas from domestic sources. The motive behind this avid appeal is to ensure future energy security, industrial growth, and the country's overall economic stability. Businessmen assert that leveraging abundant native resources, […]

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February 19, 2024
Coalition Undisclosed Donors Spend Big on Republicans

The Coalition for Safe, Healthy, and Prosperous Communities, an organization championing public health and welfare across America, has come under scrutiny for its financial practices. Though the coalition doesn't publicly disclose its donors, it has reportedly spent an exorbitant amount of money in support of Republican candidates and causes. This has raised concerns and drawn […]

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February 19, 2024
Detroit Automakers Face $10B Fines for Non-Compliance with Fuel Standards

In 2020, major car manufacturers in Detroit raised alarm bells over potentially facing massive fines exceeding $10 billion. The cause for this monetary dread originates from the introduction of new, stricter fuel efficiency regulations. Non-compliance with these fresh enactments could create financial implications that could shake the industry to its core, reaffirming the pressing need […]

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February 19, 2024
Oil Industry Increases Lobbying Efforts in California

The oil industry has emerged as a powerful force in California's legislative and regulatory circles, with industry giants pumping significant resources into lobbying efforts. These entities, who have a profound interest in the state's energy policies, are leveraging their financial clout to influence lawmakers and regulators. From advocating for friendlier policies to ensuring minimal constraints […]

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February 19, 2024
House Committee Discusses Crude Oil Theft with Naval Chief

The Special Committee on Crude Oil Theft under the auspices of the House of Representatives held a crucial meeting on Friday with the Chief of Naval Staff, Vice Admiral Emmanuel Ogalla. The meeting was convened in light of expedited efforts to tackle the escalating issue of illicit oil theft in the nation, aiming to secure […]

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February 19, 2024
Spring Festival Boosts LME Metal with London Xi Leading

As the Spring Festival holiday kicks off, the outer disk's LME metals are experiencing noticeable increases. London Xi is leading the pack with a significant 3.85% rise. Closely following is London copper witnessing a substantial rise in its value by 2.99%. This holiday season seems to set a positive stage for the metals market on […]

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February 19, 2024
Caterpillar Unveils Hybrid Energy Storage Solution

Caterpillar Oil & Gas, a leading industry giant, has unveiled its groundbreaking initiative aimed at revolutionizing the industry's within energy consumption. Their new product, the Cat Hybrid Energy Storage Solution, is designed to significantly reduce fuel consumption of drillers and operators. This ambitious move reiterates Caterpillar's commitment to championing sustainable energy solutions within the oil […]

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February 19, 2024
Satellite Images to Gauge Climate Risks and Pollution

Satellite imagery plays a vital role in monitoring the health of our planet by alerting us to serious climate risks. Innovative technology enables us to detect and measure potential threats like flooding, famine and forest fires, as well changes in air and water quality through detection of hazardous pollutants. By consistently capturing, analyzing and interpreting […]

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February 19, 2024
Congo LNG Cargo Launch Accelerates Industry Transformation

In a monumental step towards revolutionizing its industry, the Republic of Congo is preparing to deliver its first shipment of Liquified Natural Gas (LNG) this quarter. The move underscores the country's significant shift towards gas-focused investments and the unveiling of new Exploration & Production (E&P) strategies. With a keen commitment to driving sustainable industrial progress, […]

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February 19, 2024
Diamondback Energy Acquires Endeavor for $26B

In a substantial move for the energy sector, Diamondback Energy made headlines last week with its announcement of a massive USD26 billion acquisition of Endeavor Energy. This deal signifies the unification of two titans among the top 10 producers operating in the significant oil-rich Permian Basin. This acquisition creates a simplified corporate structure and generates […]

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February 19, 2024
Government Urged to Counter Negative Palm Oil Campaigns

In a recent statement, an influential figure has called upon the government to actively counter negative campaigns tarnishing the image of Indonesian palm oil commodities. He stressed the importance of highlighting the industry's commitment to sustainable palm oil production and environmental preservation. His urgent appeal for government intervention exposes concerns about the potential impacts of […]

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February 19, 2024
Ocean Ranger Artifacts May Soon Return Home

Potential artifacts from the tragic Ocean Ranger disaster may soon be on their way back from Ottawa. However, eager historians and relatives of those lost are reminded to exercise patience by one concerned archivist. Their cautionary words echo the long-standing reminder of the careful and meticulous process required in the curation and transportation of such […]

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February 19, 2024
State Minister Discusses Electricity, Energy and Minerals in Habiganj

By Syed Shukur Ali Shuvo; HABIGANJ, Feb 18, 2024 (BSS) - Nasrul Hamid, Minister of State for Electricity, Energy, and Mineral Resources, stood in the limelight today as he addressed the recent strides in the energy sector. Hamid emphasized on strategic developments that would serve to bolster the country's capabilities in electricity and mineral resource […]

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February 19, 2024
Oil and Gas Rig Count Falls to 621

The count of oil and gas rigs, which is often viewed as a precursor of future production, has seen a slight decrease in the week leading up to Feb. 16. Falling by two, the total number stands at 621, according to data provided by Baker Hughes. This downturn sheds light on the current total rig […]

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February 19, 2024
China Bids Aggressively as Western Oil Firms Exit Iraq

Several Western international oil firms have been retreating from Iraq due to various challenges, leaving a significant gap in the market. Notably, China, the largest purchaser of Iraqi crude oil, is seizing this opportunity and bidding assertively to solidify its foothold in the country's oil sector. This move is reflective of the shifting dynamics in […]

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February 19, 2024
'Big Five' Oil Companies Benefit as Others Struggle

In its latest report, the international non-profit organization, Global Witness, has highlighted the staggering profits made by oil's five 'super-majors' in post-war epochs, describing them as the 'main winners of the war'. Meanwhile, an unsettling juxtaposition is occurring whereby a vast number of populations around the globe struggle to afford the basic necessity of heating […]

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February 19, 2024
Average Debt to EBITDA Ratio Analyzed in Report

In a report published by Bloomberg, it has been revealed that the average debt to EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) ratio for a select group of companies has significantly increased. EBITDA is a frequently used metric for assessing a company's financial health. This comprehensive financial evaluation casts a spotlight on a worrisome […]

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February 18, 2024
Total E&P Suriname Operates Sapakara Oil Development

Total E&P Suriname operates the Sapakara, a conventional oil development situated in the ultra-deep water of Suriname. The project, which is in a significant oil-prospecting region, exhibits a unique combination of technological prowess and strategic geographical placement. The following post delves into the multi-faceted aspects of the Sapakara operation, laying out the broader picture of […]

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February 18, 2024
Exploring the Trio Overseeing Oil, Gas and Mining Operations

In this article, we delve into an insightful exploration of the influential three-person board that governs various industries' nerve centers, including oil and gas fields, pipelines, utilities, and mining operations, among others. This triad holds an extraordinary amount of clout in their hands, controlling multilayered complexities, sculpting the framework for critical infrastructural developments, and entertaining […]

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February 18, 2024
Russia's Oil, Gas Revenues Surge in January 2024

In an unexpected turn of events, Russia has reported a substantial upswing in oil and gas revenues for January 2024. This development notably contradicts previous economic forecasts which predicted a slump due to various factors. The abrupt influx of revenue undermines the widely held belief that Russia's economy was on the verge of a downturn. […]

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February 18, 2024
Craddick to Defend Texas Oil and Gas Seat

Christi Craddick, currently serving a prominent role on the Texas Railroad Commission, faces the challenge of defending her seat. Her responsibilities on the commission are not to be taken lightly, as she oversees the billion-dollar oil and gas industry in the state. Her competence, decisions, and strategies are being closely watched by industry allies and […]

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February 18, 2024
Matlock's Responsible Plan for Texas Oil and Gas Regulation

In the political arena of Texas, James Matlock is gearing up for an arduous fight against his seasoned opponent, Christi Craddick. With the oil and gas industry serving as one of the most crucial aspects of the state's economic health, the management of its regulation holds tremendous implications for all its stakeholders. While Matlock's task […]

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February 18, 2024
Lagos Tops Investments in Nigeria's Oil and Gas Sector

The recent report has revealed that despite diversification efforts, Lagos continues to hold sway as Nigeria's top investment hub, attracting a massive 65.38% of the country's total capital importation. Furthermore, Nigeria's oil and gas sector, considered the backbone of its economy, continues to draw investment, playing a pivotal role in establishing the nation as a […]

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February 18, 2024
Canadian Oil and Gas Industry Performance and Risk Analysis

In this post, we'll delve into an insightful examination of the Oil and Gas industry's performance in Canada, where considered analysis reveals a promising industry scenario. Recently, a noteworthy dynamic shift has been witnessed; selected company's shares have intuitively surged up by 5.6% from a week prior demonstrating confidence in the sector. Besides, we will […]

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February 18, 2024
Pete Edochie to Promote Rowe Oil's Products Nationwide

Renowned Nollywood actor, Pete Edochie, has scored a big win, bagging an endorsement deal with the popular Rowe Oil Company. This deal is set to propel a nationwide promotion of the company's products, potentially magnifying its market presence. In the partnership, Edochie will apply his significant influence and appeal to increase brand awareness and customer […]

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February 18, 2024
ICCPP Group & VOOPOO Collaborate on Vaping Innovation

ICCPP Group, the parent company of acclaimed brand VOOPOO and a major player in the vaping industry, has recently made headlines with its pioneering ODM+ innovation. As a comprehensive company specializing in e-cigarettes and related products, ICCPP Group is making strides in leveraging technology and innovation to improve the vaping experience for customers worldwide. This […]

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February 18, 2024
2023 Fossil Fuel Lobbying Peaks in California

In 2023, the fossil fuel industry turned the tables in the eco-conscious and progressively oriented state of California by ramping up their lobbying expenditures to an unprecedented level. Driven by a potent combination of industry ambitions, economic pressures, and evolving policy contexts, these energy titans unleashed an extensive, eye-watering financial blitz aimed at influencing legislative […]

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February 18, 2024
Tamar Petroleum Discloses $24 Million New Investment

Tamar Petroleum, a fellow participant in the ongoing project, has announced a new investment of approximately $24 million. The official disclosure came in a regulatory filing, shedding light on the company's latest financial commitment. This key information was provided by acclaimed journalist, Ari Rabinovitch, who has been vigilantly covering the developments in this project. 1. […]

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February 18, 2024
Trafigura Suffers Losses in Mongolia After Nickel Fraud

Fresh on the heels of the Nickel Fraud scandal, commodity giant Trafigura is grappling with significant losses in the Mongolia Oil sector. This news comes just three days after it has been reported that various firms are planning to significantly increase their expenditure on oil and gas activities offshore Norway by 2024. The dramatic shift […]

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February 18, 2024
Non-Oil Sector Surges 6%, Outperforms 2023 GDP Growth

In a remarkable trend that underscores the ongoing diversification of the economy, the non-oil sector recorded a significant surge in growth in the first half of 2023, vastly outperforming the overall GDP growth. Compared to a relatively modest overall economic expansion of 3.7%, the non-oil sector experienced an almost 6% growth, pointing to an encouraging […]

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February 18, 2024
Atapu ECO: Ultra-deepwater Oil Development in Brazil

Atapu ECO stands as a significant player in the conventional oil development industry, with its location in the ultra-deepwater regions of Brazil. The operation is under the capable management of Petroleo Brasileiro, a powerhouse in the energy sector. This article delves into the intricacies and details of Atapu ECO's operations, its contribution to the oil […]

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February 18, 2024
Russian Oil Refineries Targeted by Hostile Drones

In the harsh expanse of the Russian winter landscape, a new threat has emerged. Hostile drones have been stealthily maneuvering their way across the country, with a particular focus on energy infrastructure. These unwelcome visitors in the sky are striking refineries, and related oil and gas infrastructure, causing significant damage and disruption. The sudden increase […]

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February 18, 2024
NUPRC Wins Regulator of the Year Award

Nigerian safety professional, Ugo Amadi, takes pride in the recent accolade bestowed upon the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The esteemed organisation has received significant recognition by being named the 'Regulator of the Year', an award that celebrates a robust commitment to maintaining standards and guidelines within the industry. This latest achievement serves as […]

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February 18, 2024
Nuclear Waste Storage Plan Clashes with Oil-Gas Industry

The potential establishment of used nuclear fuel storage facilities in the Permian Basin is giving rise to mixed sentiments in the energy sector. While such an initiative could significantly spur growth in the nuclear industry by offering an effective solution for nuclear waste management, it is attracting considerable opposition from oil and gas producers. The […]

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February 18, 2024
Blichmann's Journey from Petroleum to Caterpillar in 1992

After spending a few years in the petroleum industry in Texas providing necessary supplies for oil field drillers, by 1992, Blichmann had returned to his roots. He was back with Caterpillar, a leading manufacturer of construction equipment. Not only was he back with his former employer, but he was also back in the thick of […]

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February 18, 2024
US Oil, Gas Producers Boost Output with Lower Emissions

America's oil and natural gas producers are making strides in innovative methods to boost not just the quantity of their output, but also the quality of their environmental impact. As they successfully tap into more fossil fuel reserves, these companies have not ignored the pressing issue of climate change. They are at the forefront of […]

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February 18, 2024
Oil Companies Profiting Despite Democratic Opposition

In a complex interplay of political and economic forces, Democratic politicians have frequently demonstrated hostility towards the oil and gas industry, attributing climate change largely to their practices. This antipathy, however, doesn’t seem to have greatly affected the industry’s financial bottom line. Despite these political pressures and environmental concerns, oil companies have managed to register […]

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February 18, 2024
NY Retirement Fund to Limit Fossil Fuel Investments

The New York State Common Retirement Fund (NYSCRF), the third-largest public pension fund in the United States, has announced plans to limit its investments in Exxon Mobil Corp, alongside seven other major oil and gas firms. This strategic move is part of a broader effort by the fund to assess and reduce the potential financial […]

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February 18, 2024
Bill Burch Eyes Texas Railroad Seat with Oil, Gas Expertise

Bill Burch demonstrates an exceptional understanding and vast experience in the oil and gas sector, making him a considerable candidate for a seat on the Texas Railroad Commission, controlled by the Republican party. His extensive background and holistic perspective of the complex industry allow him to propose informed viewpoints and raise insightful debates. It is […]

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February 18, 2024
Nature Group Spending Overshadowed by Oil and Gas Industry

Organizations dedicated to environmental conservation, such as the Nature Conservancy, have significantly ramped up their funding efforts in recent years. Evidence shows that the Nature Conservancy, which saw the highest level of expenses among similar groups, spent over a staggering $30 million last year alone. However, this figure pales in comparison to the expenditure of […]

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February 18, 2024
Industry Indifference Towards Global Security Solutions

In an environment thick with skepticism, the magnates of industrial sector have visibly shown a studied indifference in the spheres of European, Ukrainian, and American security. This lack of responsibility demonstrated by them, for matters of profound international importance, has precipitously eroded all reasons for us to place trust in their capacity to extend viable […]

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February 18, 2024
West Virginia's Key Role in US Energy Sector

West Virginia, renowned for its abundant natural resources, has long established itself as a cornerstone of the nation's energy sector, playing a pivotal role in shaping America's oil and gas production landscape. Over the years, its robust production capabilities have significantly contributed to the state's economy, providing ample employment opportunities, enhancing local businesses and fostering […]

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February 18, 2024
California Coastal Oil and Gas Test: Wake-Up Call for Oil Companies

As the global conversation continues to be dominated by discussions on climate change and environmental protection, it is becoming increasingly clear that all oil and gas companies need to reassess their impacts. This is particularly true in sensitive regions like California's coastal areas, where the confluence of rich biodiversity and high human impact create a […]

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February 18, 2024
Turkmenistan Exceeds Oil and Gas Production Target in January

Turkmenistan has successfully fulfilled and exceeded its oil and gas condensate production plan for January this year, achieving 100.3 percent of the target, according to a report by Trend. This precision in meeting and surpassing production goals emphasizes the country's focus on increasing its oil and gas output and highlights its potential as a key […]

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February 18, 2024
Water Production Challenge in Oil & Gas Industry

The Oilfield Photographer, Inc. deals with capturing scenes that offer glimpses into the world of oil and natural gas producers. In this often unexplored industry, these producers witness millions of barrels of water generated alongside the extraction of oil and gas. They are privy to a monumental process that forms the underpinning of the world's […]

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February 18, 2024
Biden's Pause on LNG Exports Raises Questions in Oil, Gas Industry

In a move that has left the oil and gas industry in uncertainty, President Joe Biden has stopped issuing new licenses for liquid natural gas (LNG) exports. This move, seen as a part of the President's commitment towards environmental concerns, has stirred up questions on what his administration may do next as part of its […]

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February 17, 2024
Oil and Gas Rig Count Falls to 621

The oil and gas rig count, which serves as an early indicator of future output, witnessed a slight decline by two to 621 during the week leading to Feb. 16. This subtle fluctuation, recorded by industry service provider, Baker Hughes, notably impacts the total number of rigs. Drawing from the data, it is clear how […]

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February 17, 2024
Oil Companies to Fund Carbon Storage in New Bill

The burgeoning interest and investment within the industrial sector towards more sustainable practices has led towards a newfound industry: carbon storage. A freshly proposed bill, part of a comprehensive carbon management plan, hints at the possibility of oil companies funding the initiative to pump excess carbon back underground. This potential shift marks a significant stride […]

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February 17, 2024
Investing in New Operating Models Boosts Oil and Gas Firms

In today's dynamic business landscape, oil and gas companies are looking for innovative ways to increase efficiency and maintain a competitive edge. One proven method has been through the investment in new operating models which can overhaul land services, elevate competitiveness, and boost workforce proficiency. By taking these proactive steps, companies can not only optimise […]

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February 17, 2024
Oil and Gas Rig Count Drops, Producers Plan Cuts

The oil and gas rig count, a widely recognized early indicator of future output, has recently experienced a significant downturn. This statistic is viewed by market experts and industry insiders as a bellwether of the energy sector's health and prospects, signaling potential challenges and changes for the industry's future. In tandem with this declining trend, […]

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February 17, 2024
Democrats Propose Colorado Oil and Gas Permit Halt by 2030

In a bold step towards environmental sustainability, a cluster of Democratic lawmakers have recently initiated a bill that seeks to halt the issuance of new permits for oil and gas development in Colorado by the year 2030. This move remarkably places the state's ecological aspects at the forefront of its policy-making, signifying a significant shift […]

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February 17, 2024
Emissions Cap May Cost Oil, Gas Sector $45B

A recent study has harnessed critical attention towards the environmental policies of the oil and gas sector, making some alarming revelations. According to the study, imposing an emissions cap on the oil and gas industry could trigger a significant decline in both production and export rates. The outcome of such regulatory action could be detrimental […]

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February 17, 2024
Exploring Digital Twins and NFT Integration in Oil & Gas Industry

Unlocking the potential of digital twins in the oil and gas industry not only ushers in a new era of innovation and efficiency, but also heralds the integration of non-fungible tokens (NFTs), opening new dimensions of opportunities. This comprehensive review aims at shedding light on the role of digital twins - virtual replicas of physical […]

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February 17, 2024
County Governments Lack Royalties from Federal Land Oil Development

Despite the significant amount of oil and gas development on federal lands within our county boundaries, our local governments receive virtually no royalties from these high-value resources. It's a stark reality that underlines a significant imbalance in our economy. On the other hand, a surprising contrast lies in the realm of hunting and outdoor recreational […]

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February 17, 2024
GOP Dark Money Group Intensifies Efforts in Oregon

A dark money group established by a prominent national Republican political operative and oil industry lobbyists has intensified its efforts to sway public opinion and legislative decisions in Oregon. The group, whose financial backers remain hidden due to anonymous donation laws, has been increasingly active in using its substantial financial war chest towards shaping the […]

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February 17, 2024
$26B Texas Oil Merger Signals Rise of Big Shale Era

In an unprecedented move that highlights the burgeoning dominant stature of Big Shale, two Texas-based oil giants have fused operations in an astounding $26 billion deal this week. This monumental merge is but the latest in a steady stream of similar alliances, indicating a swift and decisive paradigm shift in the energy industry. Returning a […]

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February 17, 2024
Deepwater Oil Development Underway in Guyana by Esso

Payara, an ultra-deepwater conventional oil development, is positioned in the heart of Guyana. The operation of this massive venture is in the capable hands of Esso Exploration and Production Guyana, a renowned establishment leading breakthroughs in the field. This pivotal project harnesses the immense potential of the region to push the boundaries of deep-sea oil […]

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February 17, 2024
Fossil Fuel Industry Opposes Proposed Oil and Gas Act Changes

Despite the significant role they play in the ongoing climate debate, it's been made clear that the fossil fuel industry didn't extend their support to either of the recently proposed bills. What's intriguing, however, is their noticeably more fervent resistance to the proposed changes in the Oil and Gas Act. If passed, these modifications could […]

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February 17, 2024
Rise in High-Profile Mergers Among US Oil Majors

Over the past year, the landscape of the oil and gas industry has significantly altered. High-profile mergers have been at the forefront of this change, signaling an entry into a new era - the era of the megamerger. Notably, Big Oil in the US seems to be charting the course, rousing widespread conversation and speculation […]

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February 17, 2024
Frac Tank Explosion Victim Fights to Recover

Steve Straughen has just entered a new chapter in his life after facing a catastrophic incident that forever marked his existence. Suffering from severe, life-altering injuries, Straughen had to face unthinkable challenges when he was thrown airborne due to a frac tank explosion on which he was working. Now, he stands on the precipice of […]

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February 17, 2024
DHI Energy Service Owes Worker $30M for Negligence

A federal jury has ruled in favour of Steve Straughen, a former employee of DHI Energy Service, awarding him a mammoth $30 million as compensation. The verdict arrives after an extensive trial where Straughen claimed that a fundamental lapse of safety obligations by DHI caused his exposure to harmful substances, which resulted in severe health […]

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February 17, 2024
West Bay Exploration Co. Plans Year-Long Drilling Project

The West Bay Exploration Co. has announced plans to utilize an oil and gas drilling rig, similar to one located in Michigan, for a significant exploration endeavor this year. The rig is scheduled to be operational for up to 24 days, focussed on drilling an exploratory well to probe the viability of extracting resources from […]

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February 17, 2024
US Oil and Gas Majors Merge for Expansion

The recent spate of high-profile mergers among major oil and gas companies in the U.S. indicates a strategic shift in the sector. In an apparent gesture towards consolidation and expansion, these mergers come as a response to the soaring oil prices. This growing trend is not only restructuring the landscape of the industry but also […]

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February 17, 2024
Worker Injured in Frac Tank Explosion

Steve Straughen's life took a horrifying, unexpected turn when a frac tank he was servicing suddenly exploded. The explosion's force hurled him into the air, leaving him with severe injuries that would irrevocably alter the course of his life. The terrifying incident highlighted the inherent dangers involved in working with such high-risk equipment. 1. Steve […]

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February 17, 2024
Hamm to Play Texas Oil Tycoon Monty Miller

Emmy-nominated actor Jon Hamm is all set to enrich his acting portfolio with yet another enigmatic character. Hamm will step into the shoes of Monty Miller, a described “titan of the Texas oil industry”, who possesses an extensive personal and professional history with a character named Tommy. The forthcoming project’s details are under wraps, however, […]

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February 17, 2024
Bill to Revise Oil and Gas Act Sparks Industry Outrage

Opposition is brewing over a contested piece of legislation in the oil and gas industry. The bill in question, aimed at updating the Oil and Gas Act, has come under heavy fire from industry advocates. These proponents argue that the proposed alterations could result in dire consequences, after a noteworthy oil and gas pump installation […]

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February 17, 2024
Exploring Nigerian Petroleum Development Co Ltd's Operations

Nigerian Petroleum Development Co Ltd, prominently recognized as an integral player in the oil and gas industry, largely engages in the exploration and development of oil and gas properties globally. This renowned company perfectly embodies the fusion of sustainability, innovation, and cutting-edge technology, establishing it as a leader in the reservoir of energy production and […]

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February 17, 2024
First Oil and Gas Well Project Approved in Santa Barbara County

In a historic move that marks both unprecedented progress and controversial change, an exploratory oil and gas well has been approved for a region in Santa Barbara County. This project is the first of its kind in recent memory for the county, and it is believed to be the first ever approved for this specific […]

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February 17, 2024
Oil and Gas Rig Count Drops to 621

In its latest report released on Friday, Organization O revealed a slight drop in the oil and gas rig count, an early indicator of future output. The count decreased by two, falling to 621 in the week leading up to February. This meticulously monitored data offers remarkable insights into the trajectory of the oil and gas […]

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February 17, 2024
Drilling Upcycle Boosts Rig Owners, Opens New Offshore Sites

As the surge in oil exploration continues, rig owners are finding themselves in an empowered position within the industry. In light of this, fresh offshore drilling locations that offer superior advantages, are emerging onto the corporate landscape. This wave of new 'drilling playgrounds' are captivating the attention of these companies, prompting them to rethink their […]

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February 17, 2024
Improve Safety Measures for Contract Workers in Oil and Gas Extraction

In recent years, there has been a growing concern about the safety measures in the oil and gas extraction industry. A strong call to action is raised in this regard, indicating that oil and gas extraction operators should incorporate contract workers into their site safety management plans, emphasizing on more effective procedures to mitigate the […]

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February 17, 2024
UK Oil & Gas PLC: Exploring and Producing Globally

UK Oil & Gas PLC, a London-based exploration and production company, is making its mark in the energy industry with its keen focus on various prestigious projects. Dedicated to harnessing the power of oil and gas reserves, this notable company strategically targets resources across the UK and beyond. This post aims to shed light on […]

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February 17, 2024
UK Oil and Gas Contractor Special Regime Details

In the United Kingdom, a unique set of rules and regulations specifically applies to oil and gas contractors. Critical to comprehend and comply with, these directives govern the oil contractor activities regime. Particularly, its application to the offshore oil industry is stringent, ensuring safety, environmental sustainability, and economic viability. This post will delve into the […]

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February 17, 2024
Bill Seeks to Balance Rights Between Gas Operators and Royalty Owners

CHARLESTON, W.Va. (WV News) - A proposed legislation seeking to balance legal rights between oil and natural gas operators and royalty owners is under discussion in the state capital. The bill endeavors to amend current laws surrounding the distribution of oil and natural gas resources, potentially changing the game for operators and royalty owners alike... […]

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February 17, 2024
QELNG S(2) & S(3) Vital to Qatar's Oil, Gas Industry

The Positive Outlook clouding QELNG S(2) and QELNG S(3) vividly showcases their crucial involvement in the robust structure of Qatar's oil and gas industry. Their splendid performance and success are rooted in numerous factors, one of the prominent being the strong indirect ownership. This strength of ownership does not rely solely on the concentration of […]

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February 17, 2024
Diamondback/Endeavor Deal Continues US Oil Consolidation Trend

The recent Diamondback/Endeavor deal, which gave a staggering acquisition value of US$26 billion, epitomizes the ongoing trend of major consolidation in the US oil industry. The deal underscores the industry's strategic goal to streamline operations, decreasing operating costs while simultaneously mitigating environmental impact. This consolidation wave is an indication of the industry's proactive approach to […]

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February 17, 2024
US Oil Industry Records $200B in Upstream Deals

In 2020, the US oil industry experienced a massive influx of nearly $200 billion in the form of upstream deals, setting highlights on a turbulent year in the energy sector, according to recent reports from Nasdaq. However, amidst this surge in upstream investment, the refining sector seemingly missed out on taking a slice from this […]

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February 17, 2024
LNG Pipeline Approval Boosts Oil and Gas Interests

By successfully obtaining approval for the LNG pipeline at the Federal Energy Regulatory Commission (FERC), oil and gas interests are now poised to demonstrate that they can make proactive strides in their industry, even in the face of adverse circumstances. This unique achievement comes at a time when the approvals for LNG export terminals are […]

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February 17, 2024
Deep-Sea Semi-Submersible Production Host to Debut

In an unprecedented move to harness oil and gas reserves, a semi-submersible production host will be installed at a remarkable depth of 1,400 meters (approximately 4,700 feet) under water. This innovative structure, initially outfitted with eight distinct oil and gas producing capabilities, is set to be an impressive game-changer in the energy sector. 1. A […]

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February 17, 2024
Impact of Dividends on Magnolia Oil & Gas's TSR

In discussing the profitability of companies that generously give dividends, the Total Shareholder Return (TSR) is frequently significantly higher than the return on share price. This financial truism is quite evident in the performance of Magnolia Oil & Gas, a company that has managed to... 1. Companies that generously give dividends often have a Total […]

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February 17, 2024
H.R. 7176 Aims to Expedite LNG Export Projects

In a recent development, advocates are seeking to increase traction and support for H.R. 7176, a bill which proposes to exert pressure on the Biden Administration. The intention is to push Biden's team to revise their current stance on LNG export projects, which, at present, face significant political resistance and an apparent blockade from the […]

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February 17, 2024
WFRD Stock Ranked Second in Oil/Gas Industry by IBD

Investor's Business Daily (IBD) has recently placed WFRD stock at No. 2 position in the Oil/Gas-Machinery-Equipment industry group, reflecting a positive outlook for the company. However, it's worthy to note that the said industry group significantly trails in overall rankings, occupying the No.180 spot among the 197 industries that are being tracked by IBD. 1. […]

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February 17, 2024
Pennsylvania Governor Quiet on 2030 Renewable Energy Promise

In a surprising turn of events, the Pennsylvania governor, known for his ambitious pledge to achieve 30% renewable electricity by the year 2030, has suddenly gone silent on the matter. The sudden silence has raised many eyebrows, sparking intrigue and concern among the public and environmental advocates who were looking forward to the massive green […]

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February 17, 2024
Uncertain Outlook for Zacks Oil & Gas Amid Volatility

The Zacks Oil & Gas US Integrated industry is confronting a highly uncertain future, stemming from the extreme volatility in oil and gas prices, as well as high input costs in refining activities. Unpredictability in the energy market is significantly influencing the profitability and growth prospects of companies within this sector. The cost-intensive nature of […]

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February 17, 2024
Surge in M&A Activity Boosts Oil and Gas Sector

In the last few months, there has been an unparalleled spike in the oil and gas industry's merger and acquisition (M&A) activities. Transactions worth over $155 billion have redefined the sector's landscape, a substantial increase showcasing the industry's adaptive dynamics in changing times. The surge signals a seismic shift in the energy segment, highlighting strategic […]

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February 17, 2024
Venezuelan Oil Industry Suffers Despite Output Rise

The Venezuelan oil sector continues to grapple with numerous challenges as it navigates through a labyrinth of existing and newly imposed US economic sanctions. This is even as the South American country registers an increase in crude oil production. The escalating situation presents an arduous reality for an industry that's already deeply embroiled in political […]

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February 16, 2024
US May Revoke GL44, Impacting Venezuela's Economy

The United States is gearing up to put more economic pressure on Venezuela, a move that could have significant implications on the Latin American nation's already fragile economy. Washington is reportedly considering the revocation of General License 4 (GL44), an action that would heavily impact Venezuela's central economic sector, before this year's presidential elections. This […]

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February 16, 2024
Nakilat Chosen as Owner and Operator of 25 LNG Carriers by QatarEnergy

QatarEnergy has recently announced Qatar Gas Transport Co. Ltd. (Nakilat) as the chosen owner and operator of up to 25 conventional-size Liquefied Natural Gas (LNG) carriers, according to an update last week. This move highlights QatarEnergy's confident steps towards expanding its presence in the global LNG carrier market. 1. QatarEnergy announced Qatar Gas Transport Co. […]

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February 16, 2024
New York's Climate Action Plan Leads to Divestments

New York State Comptroller Thomas DiNapoli's Climate Action Plan has prompted a series of divestments in recent months. This strategy, driven by elevating concerns about the financial risks associated with climate change, aims to progressively distance the state's finances from carbon-intensive industries. It puts into action DiNapoli's commitment to responding to the climate crisis, leveraging […]

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February 16, 2024
Mosman Oil and Gas Updates on Stanley Project

Mosman Oil and Gas, a leading company specializing in the exploration, development and production of hydrocarbon, helium, and hydrogen, recently released an update on its Stanley project. This detailed update provides insights into the current progress, challenges faced, potential opportunities and future prospects of the project. This press release aims to offer stakeholders transparent information […]

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February 16, 2024
Norway Anticipates Record Oil Investments in 2025

The oil sector in Norway is poised for a significant boom as multinational companies in the industry gear up to invest unprecedented amounts in the country. 2025 is earmarked to see a surge in activity in exploration, drilling, and pipeline transport as oil giants seek to tap into Norway's abundant resources. The news comes as […]

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February 16, 2024
CerraCap Fuels Growth in New Mexico's Venture Ecosystem

Venture funds such as CerraCap are vital players in New Mexico's budding venture ecosystem. Their primary role involves providing much-needed assistance to entrepreneurs. With their support, startups can build and expand their businesses. The focus is not only on establishing a company but also integrating advanced and innovative technologies into the business model. Let’s delve […]

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February 16, 2024
Mehdi Tascher of Stride Talks Oil & Gas Industry

In an engaging interview with Dean Mikkelsen, the prominent Editor of Oil & Gas Middle East, Mehdi Tascher, a leading figure from Stride, opens up about his extensive experience in the industry. Tascher, armed with years of knowledge and unparalleled expertise, takes us through his journey in the oil and gas sector, sharing invaluable insights […]

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February 16, 2024
Colorado Democrats to Target Energy Producers with New Bills

As the week unfolds, several Centennial State Democrats are preparing to launch an offensive against local energy producers in Colorado. This ambitious move is encapsulated in a trio of bills that they're set to introduce in the coming days, explicitly aimed at reshaping regulations and policies impacting this vital sector. This legislative move underscores the […]

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February 16, 2024
Colorado's Energy Commission Claims National Lead

New York, February 16, 2024 – As endorsed by Colorado's Energy and Carbon Management Commission (ECMC), they have been lauded as frontrunners in the fast-paced realm of energy and carbon industry. However, despite receiving nationwide acclaim, it appears as though the path leading them was not as straightforward or unrivalled as it was perhaps presumed […]

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February 16, 2024
Apache Corp to Pay $9.5M for Pollution Settlement

Apache Corporation, a major oil and gas production company, has agreed to a settlement that will require the firm to pay $4 million in fines, as well as invest an additional $5.5 million towards implementing improvements aimed at reducing air pollution emissions. This decision comes as part of a broader commitment to environmental responsibility and […]

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February 16, 2024
Oilfield Services Market Expands Due to Energy Demand Rise

The Oilfield Services Market is currently witnessing a considerable surge, primarily propelled by two factors: the escalating global demand for energy and the significant increase in oil and gas exploration and production activities. As the world's population and economies continue to expand, the consequent growth in energy consumption is pushing the boundaries of traditional energy […]

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February 16, 2024
Chemical Sector, Low-Carbon Investments Drive Company Growth

In the recent fiscal overview, the company showcased an impressive performance highlighted by the substantial growth in its chemical business. Providing a significant boost to the annual revenue, this section was noted for its robust resilience and profitability. Propelling this momentum further, the company is now strategically focusing on chemicals and low-carbon investments. These could […]

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February 16, 2024
How to Share Your Videos Globally

Welcome to our platform where you can share your cherished moments, your ideas, your creativity, and your expert insights with friends, family, and literally anyone around the globe! Video-sharing has become an essential part of our digital experience, representing a powerful medium of communication that transcends many barriers. Whether it's a video tutorial, a performance, […]

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February 16, 2024
Indian Oil Refiners' Earnings Upgraded by Morgan Stanley

Morgan Stanley, a distinguished brokerage firm, has recently noted an upward trajectory for India's downstream oil refiners, highlighting a multi-year re-rating and earnings upgrade cycle that the sector is currently experiencing. This insightful observation provides critical context for investors and industry stakeholders, marking a potential shift in the investment climate of India's oil industry... 1. […]

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February 16, 2024
GOC Buys 45000 b/d Assets from Carlyle, Rejects Maurel & Prom Bid

In a strategic business move, State-owned General Oil Company (GOC) has signed a major agreement with multinational investment firm, Carlyle. The deal involves GOC purchasing Carlyle's 45,000 b/d assets, a significant turnover shift in the industry. Interestingly, this agreement preempts the anticipated August bid from France's Maurel & Prom. But despite this acquisition, experts suggest […]

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February 16, 2024
Study Reveals Decades-Long Misrepresentation of Recycling Viability

A new study by the Center for Climate Integrity has recently revealed a major deception among the corporate world. According to the findings, for many decades, numerous companies were aware that recycling was not a sustainable or economically viable solution. Despite this knowledge, they continued to promote it to consumers, resulting in a recycling culture […]

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February 16, 2024
Synergy Secures Munich Re Financing for Wetland Restoration

Synergy, a Californian private oil and gas company, has successfully obtained financial backing from Munich Re, a leading global reinsurance company. The funding will be used in a landmark project aimed at restoring coastal wetlands, underlining the growing corporate commitment to environmental conservation and climate change mitigation. 1. Synergy, a private oil and gas company […]

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February 16, 2024
Indian Rupee Rises as US Dollar Weakens

The Indian rupee experienced a slight upward tick on Friday thanks to a pullback in the U.S. dollar's strength following weaker than anticipated economic data. However, the demand for the rupee tempered its rise, highlighting the economic complexities in play. 1. The Indian rupee experienced a minor increase on Friday due to a decline in […]

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February 16, 2024
US Oil and Gas Producers Innovate for High Output, Lower Emissions

America's leading oil and natural gas producers are demonstrating unparalleled innovation, driving the industry to peak production levels like never before. Concurrently, they are not just focusing on boosting output but also implementing measures to ease and reduce emissions. In doing so, they are demonstrating an unprecedented commitment towards establishing a balance between meeting energy […]

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February 16, 2024
Arkansas Predicted to Become National Lithium Leader

On Thursday, during the inaugural Lithium Innovation Summit, state officials projected a bright future for Arkansas, anticipating it will soon take the leading spot in the nation's lithium production. The summit brought together industry leaders, policy makers, and innovative thinkers, underlining the state's commitment to building a sustainable and dynamic lithium production industry. 1. The […]

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February 16, 2024
Plastics Industry Misled Public About Recycling, Report Finds

In a revelation that could shake up perceptions globally, an explosive new report has made the shocking claim that the plastics industry has systematically deceived the public for decades over the feasibility of recycling plastic. The comprehensive investigation uncovers an elaborate façade designed to convince consumers of the recyclability of plastic, whilst in reality, majority […]

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February 16, 2024
Oil Industry Knows Recycling is Not Sustainable

For years, the petrochemical industry, encompassing major oil corporations including ExxonMobil, has been aware that recycling is not a viable sustainable solution to escalating plastic waste. This revelation exposes a calculated corporate strategy, long-fostered myths perpetuated about plastic waste management, and an undelivered promise of a sustainable recycling system, painting a grim yet honest picture […]

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February 16, 2024
State Officials Neglect Environmental Limits on Oil, Gas Firms

In yet another disappointing policy decision, our governor, backed by the legislature, fell short of implementing any public health or environmental restrictions on oil and gas companies, which our state heavily relies on. This failure to impose necessary constraints displays an alarming disregard to foster a sustainable relationship between commercial interests and the well-being of […]

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February 16, 2024
Red Sky Energy's Killanoola Oil Project Begins Production

Red Sky Energy, the proprietor of the field, is eagerly anticipating production from the Killanoola conventional oil development project. They anticipate the project to revolutionize their output and bring substantial reward for the company. The project is carefully analyzed and crafted, using cutting-edge technology and valuable expertise, ensuring high expectations of efficiency and encouragement of […]

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February 16, 2024
GlobalData Reports Discovery of Rafael Oil Field in 2021

Recent findings by GlobalData, an internationally recognized firm that monitors over 34,000 active and developing oil and gas fields globally, have pointed out a new significant discovery. They have indicated that a fresh oil and gas field, named Rafael, emerged in 2021. To fully understand the potential of this resource and its impact on the […]

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February 16, 2024
Google and EDF to Map Methane Emissions

Google, in collaboration with the Environmental Defense Fund, has embarked on an ambitious project aimed at identifying and mapping methane emissions across the globe. With a particular emphasis on oil and gas infrastructure, this joint initiative highlights Google's commitment to leverage its technological prowess in aiding important environmental causes. 1. Google is collaborating with the […]

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February 16, 2024
Eni SPA Confirms Extension of Cronos Gas Discovery

Italian energy company, Eni SPA, has recently announced the successful completion of the Cronos-2 well, located in Block 6 offshore Cyprus. This crucial development confirms an extension of the Cronos gas discovery, reinforcing the region's potential as a significant hub for natural gas and highlighting Eni SPA's continued expansion in the global energy market. 1. […]

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February 16, 2024
Norwegian Offshore Oil and Gas Investments to Reach $23 Billion

The Norwegian offshore sector is set to experience a significant investment boost, with total investments in oil and gas activity, including pipeline transportation, estimated to reach a striking $23 billion. This substantial influx of capital not only reinforces the vitality and potential of Norway's offshore industry, but also reflects the growing international confidence in the […]

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February 16, 2024
Climate-Tech Startups' Future Tied to Polluters' Balance Sheets

At the Cleantech North America conference, a peculiar irony is in full play. The destinies of numerous climate-tech start-ups are inextricably linked with the balance sheets of corporations, that, not too long ago, were the very trespassers of our fragile environment. Companies that were previously ostracized for indiscriminate environmental damage are now the same entities […]

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February 16, 2024
Divestment Shields Fund from Fossil Fuel Losses

The initiation of divestment processes stands as a significant move to safeguard the Fund from prospective losses attributed to fossil fuel investments. This strategic stance towards reducing financial vulnerability not only curtails our carbon footprint, but also bolsters investments in alternative, lower-carbon indexes that are currently on a growth trajectory. This evolution ensures a robust […]

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February 16, 2024
Exxon Mobil Announces Securities Commissions Decision

On February 15, 2024, Exxon Mobil Corporation (NYSE: XOM), headquartered in Spring, Texas, revealed significant news. The oil and gas giant announced that the securities commissions for the provinces of Alberta, among others, have granted formal approvals, further dispelling the uncertainties in their expansive market operations. 1. On February 15, 2024, Exxon Mobil Corporation announced […]

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February 16, 2024
MRPL and Oil India Shares Surge in the Stock Market

Shares of Mangalore Refinery and Petrochemicals Limited (MRPL) witnessed a significant surge, gaining 17.53% to reach a high of Rs 240. In a parallel development, Oil India's shares escalated to a record high, hitting Rs 575.45 on the Bombay Stock Exchange (BSE). The stock marked an increase of 15.33% for the day, reflecting a positive […]

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February 16, 2024
Equinor Puts Out Fire at Norway Refinery

Equinor ASA, a leading Norwegian energy company, has successfully put out a fire at its subsidiary, Equinor Refining AS' 226,000-b/d refinery. The incident occurred at the refinery located in Mongstad, a significant industrial hub on Norway's western coast. No injuries or fatalities have been reported, and the company has launched an investigation into what could […]

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February 16, 2024
NY State Fund to Limit Investments in Exxon, Other Oil Firms

The New York State Common Retirement Fund, one of the world's largest pension funds, has initiated plans to limit its investments in Exxon Mobil Corp. as well as seven other oil and gas firms. This decision is a subsequent adjustment in their investment approach following concerns regarding climate change and the potential financial risks associated […]

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February 16, 2024
M&M, Federal Bank Soar; HPL, Oil, Gas Rally; Vedanta Slips

In a remarkable turn of events in the stock market today, both M&M and Federal Bank witnessed substantial growth in their trading session. Not stopping at that, HPL Electric and Power Limited (HPL) hit the upper circuit, indicating a favorable trading climate for the company. Meanwhile, the oil and gas sectors sustained their growth spurt, […]

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February 16, 2024
NOG Likely to Miss Earnings Expectations in Upcoming Report

In the imminent earnings report announcement, Northern Oil and Gas (NOG) appears to be bereft of the crucial dual elements often used to predict a prospective earnings beat. Analysts often scrutinize numerous factors when forecasting a company's profitability, but there's no denying that a pairing of specific crucial factors can be indicative of a potential […]

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February 15, 2024
LNG Demand to Surge over 50% by 2040 Amid China's Decarbonisation

As worldwide environmental consciousness continues to rise, the global demand for liquefied natural gas (LNG) is forecasted to increase dramatically by over 50% between 2023 and 2040. This burgeoning market growth is substantially driven by China's ongoing initiative towards industrial decarbonisation, reflecting a worldwide shift away from conventional fuels to more sustainable energy alternatives. 1. […]

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February 15, 2024
FTC Antitrust Probe Poses Challenges for Diamondback, Endeavor

The Federal Trade Commission (FTC) is bringing its antitrust magnifying glass over the oil and gas industry, with Diamondback Energy Inc. and Endeavor drawing particular attention. Recent inquiries by the FTC into oil and gas acquisitions indicate potential antitrust stumbling blocks for these companies. This heightened scrutiny underlines the increasing regulatory pressures facing energy companies, […]

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February 15, 2024
Oil and Gas Sector Consolidating Due to Costs, Regulations

The oil and gas industry is experiencing an accelerated rate of consolidation, driven primarily by increasing costs and mounting regulatory pressures. These prevailing conditions are reshaping the sector's landscape, pushing companies to merge or be acquired in an attempt to pool resources, streamline operations, achieve economies of scale, and effectively navigate the complex regulatory terrain. […]

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February 15, 2024
Occidental Petroleum Posts Improved Earnings

Hello and welcome back to Energy Source, broadcasting today from the heart of Texas. In the ever-evolving world of oil production, Occidental Petroleum has stepped into the spotlight as the latest producer to post improved figures. Yesterday was a significant moment, marking a noteworthy shift for the industry that resonates beyond state borders. Let's delve […]

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February 15, 2024
Oil and Gas Firms Face Near-Term Uncertainty

Exploration and production firms, those responsible for oil and natural gas production for energy and transportation purposes, are currently navigating the murky waters of near-term uncertainty. Despite these predicaments, we firmly believe that they harbor the potential to weather the storm. This blog post aims to delve into how we examine, from an industry perspective, […]

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February 15, 2024
Norwegian Oil Firms Forecast Record Investments for 2025

According to preliminary data, oil companies operating in Norway are poised to make substantial investments in exploration, drilling, and pipeline transport. With an expected investment culminating to record-breaking figures in 2025, industry experts are analyzing the potential implications and outcomes of these projected capital expenditures. 1. Oil companies in Norway are planning substantial investments in […]

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February 15, 2024
Exploring Colorado's Oil and Gas Industry

In the heart of the United States' vast territories lies Colorado, an outstanding state that plays a substantial role in the country's oil and gas industry. This sector significantly contributes to Colorado's economic strength, providing direct and indirect jobs to thousands of its residents and vast revenues to the state. The oil and gas operations […]

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February 15, 2024
Kuwait's Upstream Oil Sector Aims for Net-Zero Emissions by 2050

Dive into Kuwait's upstream oil sector's audacious quest to hit net zero emissions by the year 2050, revealed in an illuminating report by Oxford. This ambitious journey showcases a strategic shift, revealing the country's unwavering commitment to sustainability and environmental responsibility. The report offers a detailed exploration of the sector's plans to significantly reduce its […]

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February 15, 2024
Hydrocarbon and Pipeline Investments to Grow 13% by 2024

Investment projections in the hydrocarbon extraction and pipeline transport sector are demonstrating a bullish trend. As per the latest forecasts, these investments are expected to surge by 13% in 2024, marking a substantial increase from the final investment figure recorded at 215. This indicates a significant shift towards expanding the hydrocarbon infrastructure, signalling the potential […]

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February 15, 2024
IEA Cuts 2024 Oil Demand Growth Forecast

The International Energy Agency (IEA) has indicated a deceleration in global oil demand growth, according to their statement on Thursday. In light of recent trends and data, the agency has revised downward its growth forecast for 2024, suggesting a potentially significant shift in the global energy market. 1. The International Energy Agency (IEA) has indicated […]

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February 15, 2024
Norwegian Offshore Oil Firms to Spend $23bn in 2021

The oil and gas industry off the Norwegian coast is gearing up for a buoyant year, with companies estimated to spend a staggering $23 billion in 2021. This substantial increase in expenditure reflects the industry's robust response to an ever-demanding market, utilizing Norway's lucrative oil and natural gas reserves. The forecasted spending emphasizes how pivotal […]

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February 15, 2024
Intensification of a Controversial Topic

Adding to the heated debate that swirls around us all, we find ourselves hinged on a plethora of contrasting perspectives. It is a discourse woven with paths of agreement, conflict, and diverse narratives. Yet understanding this, we dive headfirst, ready to further explore the ever-evolving tapestry of thoughts and ideologies. This opening paragraph serves as […]

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February 15, 2024
Shale Firms Criticized for Lack of Low-Emissions Plans

Major investors have raised significant concerns over the preparedness of 21 shale oil and gas companies to transition towards a low-emissions economy. They collectively own billions worth of stock and debt in these companies, sparking these doubts due to a broad lack of demonstrable planning and readiness within these organizations for incremental shifts towards more […]

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February 15, 2024
NY State Retirement Fund to Limit Oil, Gas Investments

The New York State Common Retirement Fund (NYSCRF) plans to modify its investment strategies by restricting its holdings in eight integrated oil and gas firms. Among these changes is the divestment of a significant portion of their shares in specific companies. This decision forms part of broader efforts to respond to potential financial risks associated […]

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February 15, 2024
NY State Retirement Fund to Divest $26.8M in Oil, Gas

The New York State Common Retirement Fund in Albany has made a sensational announcement: it will divict $26.8 million in equity and corporate bond holdings. This move won't be affecting just any sector but eight significant entities that belong to the integrated oil and gas industry. This decision poses exciting discussions around the implications and […]

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February 15, 2024
Apache Corporation to Pay $9 Million in Penalties and Expenses

On Tuesday, a significant agreement was announced with Apache Corporation. The terms of the agreement stipulate that the company will pay an estimated $4 million in penalties. Additionally, Apache Corporation is also required to allocate over $5 million towards... 1. An important agreement with Apache Corporation was announced on Tuesday. 2. Under the terms of […]

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February 15, 2024
Norwegian Offshore Oil, Gas Firms to Spend $23B in 2021

Oil and gas corporations operating in the Norwegian offshore sector are projected to invest a colossal 244 billion kroner (equivalent to $23 billion) within this year. This substantial expenditure demonstrates a significant commitment to exploration, extraction, and infrastructure in a region known for its vast natural resources. The strategic move not only bolsters Norway's energy […]

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February 15, 2024
Colorado Democrats Push for Oil, Gas Permit Halt by 2030

Statehouse Democrats are set to introduce an upcoming bill that would halt the issuance of new oil and gas permits in Colorado by 2030. This bold legislative move is part of the growing efforts to transition to renewable energy sources and combat climate change. If passed, this new law could significantly alter the state’s energy […]

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February 15, 2024
Urgent Methane Cuts Needed to Stem Climate Change

Addressing the ever intensifying issue of climate change, urgent actions are necessary. Amongst the most vital steps the United States can promptly take is implementing sharp cuts in methane emissions. This significant move has the potential to slow the terrifyingly rapid progression of global warming by an appreciable extent, at least in the immediate future. […]

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February 15, 2024
US Crude Oil Inventories Surge by 12 Million Bbl

In the recent week ending on Feb. 9, the inventory of US crude oil, not including the supplies within the Strategic Petroleum Reserve, underwent an increase. The reserves marked a rise of 12 million barrels from the statistics recorded in the earlier week, indicating a significant weekly uptick in the US oil stocks. This figure […]

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February 15, 2024
US Oil Prices Drop Following Surge in Inventories

In recent developments, oil maintained its declining trajectory as data revealed a sharp increase in US crude inventories - the most significant since November last year. The unexpected upturn in crude storage levels had a stinging effect on oil benchmarks, confining them to the marginal fluctuations characteristic of this year's market trends. This burgeoning crude […]

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February 15, 2024
MethaneSAT Set to Monitor Global Methane Emissions

Next month marks the exciting launch of MethaneSAT, one of several pioneering satellites set to deploy for the purpose of monitoring methane emissions on a global scale. The initiative aims to precisely pinpoint and track the sources of these emissions, a critical step in advancing our understanding of climate change and our capacity to mitigate […]

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February 15, 2024
Loveland City Council Plans Public Input for Oil Rule Revision

The Loveland City Council has recently guided its city staff on the best way to go about initiating a procedure to collect public opinions. This initiative aims at redrafting the city's oil and gas regulation. This bold step toward the revision of current laws was primarily taken to promote a more inclusive governance process, where […]

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February 15, 2024
US Crude Stockpile Surge Triggers Oil Price Drop

Oil prices witnessed a slight ease during early trading hours on Thursday. The dip in prices came after data unveiled a significant surge in U.S. crude inventories, surpassing initial expectations. This unexpected jump has consequently amplified concerns about potential oversupply in the market and an inevitable retreat in prices that could possibly upset the sector's […]

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February 15, 2024
Oil & Gas Industry Boosts Non-Election Year Donations In New Mexico

The oil and gas sector has evidently upticked their non-election year financial contributions to political figures in New Mexico, a trend that has coincided with recent debates in the state Legislature over introducing new regulations for the industry. This significant increase in financial support has raised questions regarding the industry's influence over the state's political […]

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February 15, 2024
Mexican Ministry Approves Woodside's Trion Project

In a significant move forward for Woodside's Trion oil and gas project, the Mexican Ministry for Energy has granted approval for its social impact assessment. This marks a critical milestone in the progression of the project, aiding in the realization of Woodside's energy exploration endeavours. It also underlines the commitment of the Mexican authorities to […]

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February 15, 2024
Indigenous Oil Firms Lack Transparency, Says Aradel Exec

Adegbite Falade, the Managing Director of Aradel Holdings Plc, has recently voiced concerns over the lack of visibility in the operations of the majority of indigenous oil companies. According to Falade, these organizations are lacking when it comes to transparency, a factor that he believes is fundamental towards fostering trust and achieving success in the […]

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February 15, 2024
New Mexico and EPA Collaborate on Oil and Gas Inspections

The New Mexico Environment Department (NMED) together with the U.S. Environmental Protection Agency (EPA), has recently embarked on a collaborative project aiming to conduct detailed inspections of oil and gas facilities in the region. This joint effort underscores the growing importance of health and environmental protection against potential hazards linked to chemical use, wastewater production, […]

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February 15, 2024
Call for President to Curb Fossil Fuel Growth Globally

In their recent letter, activists Nina Pušić and Kate DeAngelis strongly urge President Biden to mirror the recent domestic measures taken to limit fossil fuel expansion within the country with comparable global measures. Citing the urgent need for the US to ramp up its efforts in the fight against climate change, Pušić and DeAngelis emphasize […]

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February 15, 2024
Industry Backs Proposed Bill to Lift Sunset Rule

In Charleston, WV, a legislative session took place on Wednesday where business and industry representatives voiced their support for a proposed bill. The bill in question aims to eradicate a sunset clause from existing legislation, a move generally favored by the business community. The session attracted significant attention due to the potentially wide-reaching implications of […]

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February 15, 2024
Top Iranian Officials Linked to Oil Smuggling Rings

Iran International has recently acquired confidential information regarding two notorious oil smugglers who are successfully dodging US sanctions. Unveiling a potentially scandalous web of deceit, these allegations suggest that these smugglers are affiliated with high-ranking officials closely associated with Iran's power circle. The emerging details from the expose raise critical questions about corruption and complicity […]

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February 15, 2024
Colorado Senators and Representatives Activities Update

Colorado Senators, Sonya Jaquez Lewis (D-Boulder County) and Kevin Priola (D-Henderson), along with Representatives Andrew Boesnecker (D-Fort Collins) and Julia Marvin have recently been in the spotlight due to their proactive roles in legislative matters. These dynamic figures stand at the forefront, working towards making substantial changes for the betterment of their constituencies. Both in […]

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February 15, 2024
Newsom Advances Plan to End Fracking for 100% Clean Energy

Governor Gavin Newsom has announced further measures to push his 2021 vision of permanently banning fracking in California. This concretizes his tireless efforts towards hitting California's ambitious target of 100% clean energy. The Golden State's commitment towards environmentally conscious energy sources is proving to be relentless, with Governor Newsom's groundbreaking initiatives at the helm. This […]

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February 15, 2024
US Job Availability Drops by 0.6% Since December

In the latest job sector update, employment opportunities have experienced a slight downturn. Detecting a shrinkage rate of 0.6% in job availability compared to the month of December, this downturn represents a broader shift within the national job market environment. Meanwhile, in a broader context, the most recent figures highlight that the U.S. national unemployment […]

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February 15, 2024
Brentwood Bans Oil and Gas Exploration

In a significant step towards environmental conservation, Brentwood has joined the ranks of cities in East Contra Costa implementing new regulations to curb oil and gas exploration and production. This makes Brentwood the second city in the region to adopt such a policy, marking a considerable shift in local law towards preserving ecological balance and […]

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February 15, 2024
Europe’s Top Bank Limits Financing for Fossil Fuels

In a landmark move that signals a significant shift in the financial landscape, Europe's largest lender to fossil fuel projects has made a declaration to constrict its financial support to oil and gas industries. This limitation will encompass both direct funding for new projects and various financial applications associated with this sector. The pledge heralds […]

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February 14, 2024
New Zealand Oil & Gas Reserves to Grow 41%

New Zealand Oil & Gas made a significant announcement on February 14, 2024, revealing an acquisition set to significantly bolster their overall reserves. The noted development will enlarge its proven and probable (2P) reserves by an eye-popping 41%, bringing their total to 23 million barrels of oil equivalent (mboe). This strategic move demonstrates the company's […]

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February 14, 2024
Arctic Oil Lease Sale May Impact Biden's 2024 Campaign

As President Joe Biden's 2024 election campaign begins to gather momentum, a congressionally mandated oil lease sale in the Arctic casts a shadow of uncertainty. This imminent sale threatens to reignite criticism and attacks on his administration's energy policy and environmental stance, potentially undermining his electoral appeal. The controversial lease sale is already stirring debates […]

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February 14, 2024
Companies Merge to Boost Oil Production Scale

The recent agreement brokered between the two major oil companies marked an aggressive move towards a merger designed to amalgamate their operations in the basin. This strategic alliance was driven by a shared vision to amplify their scale as oil production ramped up in the area. The aim? To maximize profitability, streamline operations, and set […]

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February 14, 2024
Oil Prices Steady After OPEC's Positive Forecast

In the world of energy trade, oil prices remain somewhat steady this Wednesday. This steadiness is largely due to the preservation of the gains made on Tuesday, which were themselves influenced by two primary factors. OPEC - the Organization of the Petroleum Exporting Countries - released a forecast that promises robust growth in demand for […]

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February 14, 2024
Fossil Fuel Industry Faces Increased Regulatory Scrutiny

The recent settlement with a prominent player in the fossil fuel industry forms part of broader, heightened regulatory scrutiny on practices within this sector. The aim of increased oversight is to promote a cleaner, healthier environment amidst escalating pressures on our planet's biosphere. This article delves into the specifics of this monumental shift in environmental […]

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February 14, 2024
NY State Comptroller Reviews Pension Fund Oil Investments

New York State Comptroller, Thomas DiNapoli, is initiating a thorough review of the state's pension fund investments in major oil companies such as Exxon and Chevron. This comes as part of his duties to manage the state's public employee retirement system and ensure that the investment strategies are robust, practical, and profitable. This evaluation exercise […]

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February 14, 2024
Africa's Rising Star in Natural Gas Industry

In an unprecedented surge of industrial optimism, Africa has birthed a new superstar in the natural gas sector. This followed the agreement struck by British Petroleum Plc (BP), Australia’s Woodside Energy Group Ltd, and Dallas-based Kosmos Energy Ltd to harness and develop the continent's vast natural gas reserves. This triumvirate of energy behemoths is typifying […]

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February 14, 2024
Colorado Air Quality: Failing Standards and Climate Change Concerns

In light of escalating concerns about climate change and the recent failure of Colorado to meet the federal air quality standards along the Front Range, a proposal to halt specific activities contributing to this environmental crisis is gaining traction. This plan emphasizes the urgency required to address the compounded harmful effects of unsustainable practices on […]

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February 14, 2024
UAE Oil Stockpiles Fall as Export Rates Slow

Despite the global oil market's recent volatility, the UAE's industry has experienced its own unique challenges. Product exports have seen a significant slowdown, with only fuel oil stocks presenting a downward trend over the year. This comes as the country grapples with a backlog of ship refueling orders. Amidst these dynamics, the stockpiles of oil […]

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February 14, 2024
Oil Firms Confront Crisis as Global Emission Reduction Sought

Oil companies are standing on the brink of a potentially existential crisis. As our world becomes increasingly conscious about the pressing issue of climate change, nations and individuals alike have begun to pivot away from oil and other emission-producing energy sources. The former powerhouses of the global economy now find themselves grappling with a changing […]

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February 14, 2024
California Resources Plans Negative Carbon Emissions Oil Production

California Resources Corporation, a pioneer in the energy industry, has embarked on an ambitious project aimed at turning century-old oil fields into zero-emission energy sources. The company has an innovative plan to inject carbon dioxide into these existing oil fields with the ultimate aim of achieving negative carbon emissions. Their innovative technique could potentially transform […]

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February 14, 2024
Oil Majors Eye Profitable Fields Even at $30/Barrel

As the third continuous year of increasing demand for oil heralds a prosperous landscape for the industry, the major oil companies worldwide are shifting their focus to new oilfields. These new ventures are being strategically pursued to ensure profitability, even if oil prices were to fall to a significantly lower figure of around $30 per […]

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February 14, 2024
Apache Corp. Fined $4M, Spends $5M on Prevention

Apache Corp. has agreed to a settlement that includes $4 million in penalties, following undisclosed violations. Additionally, the energy company will invest more than $5 million into implementing preventative measures aimed at ensuring compliance and preventing future breaches. The announcement, which is yet to specify the nature of the infringements, marks a significant step towards […]

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February 14, 2024
Oil, Gas, PSU & Metal Stocks Surge, Pharma Stocks Dip

In today's trading session, oil and gas stocks experienced a significant rally, while public sector undertaking (PSU) and metal stocks also witnessed considerable gains. However, it wasn't a bright day for all sectors. Most notably, pharma stocks felt the pressure, presenting somewhat of a contrasting picture in an otherwise upward trending market. 1. Oil and […]

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February 14, 2024
Oil Drilling Costs May Rise Amid Proposed Royalty Legislation

There is a growing concern amongst oil and gas companies as they face the possibility of increased operating expenses. This concern stems from ongoing legislative measures seeking to raise royalty payments that these companies pay to operate on State Trust lands. This move could significantly increase the cost of drilling for oil, with potentially wide-reaching […]

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February 14, 2024
Permian Basin Real Estate Scarcity to Fuel 2024 Dealmaking

In the energetic world of business and commerce, dealmaking is anticipated to remain a staple activity in 2024. The root of this surging trend lies in the diminishing real estate spaces in the Permian Basin. With limited properties available, a certain tension is created among companies who are compelled to seize potential assets immediately available. […]

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February 14, 2024
Oil and Gas Contract Activity Drops by 16%

In a recent industry update, global oil and gas contracts activity recorded a notable decline in the third quarter of 2023. The total number of contracts signed worldwide plummeted 16%, dropping from 1401 in the previous quarter to 1172. This slump in contracts activity significantly challenges the sector’s stability and growth trajectory, hinting at broad […]

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February 14, 2024
Jersey Oil and Gas PLC CEO Highlights Company Successes

Andrew Benitz, the CEO of Jersey Oil and Gas PLC, recently spoke at the Proactive One2One forum where he emphasized the momentous developments and strategic accomplishments within the company. With a focus on the company's ongoing projects and future trajectory, Benitz took the opportunity to showcase how Jersey Oil and Gas PLC is proactively tackling […]

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February 14, 2024
Google, EDF Partner to Reveal Climate-Warming Emissions Sources

Tech giant Google and the Environmental Defense Fund (EDF), a leading international environmental organization, announced on Wednesday a ground-breaking coalition aimed at exposing the sources of climate-warming emissions. This innovative alliance exhibits the increasing prevalence of cross-disciplinary collaborations in efforts to combat the looming threats of climate change. With the world racing against time in […]

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February 14, 2024
Google, EDF Team Up to Track Methane Emissions

Google, in its latest eco-conscious initiative, has teamed up with the Environmental Defense Fund (EDF) with an aim to keep track of the sources of methane emissions originating from oil and gas operations. This partnership indicates a marked step by the tech giant to address global environmental issues and contribute in the battle against climate […]

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February 14, 2024
Texas Firm Settles Multi-Million Dollar Air Pollution Case

In a significant environmental victory, a Texas-based company has agreed to a multimillion-dollar settlement with the federal government and the state of New Mexico aimed at rectifying serious air pollution problems. The concession follows extensive accusations and legal battles over the company's alleged negligence and misconduct in addressing environmental regulations, which raised pressing concerns about […]

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February 14, 2024
Diamondback Energy Acquires Endeavor for $26bn

Diamondback Energy, a prominent player in the energy sector, recently announced a whopping $26 billion takeover of Endeavor, signaling a concerted push towards increased efficiency and significantly lower production costs. This monumental acquisition represents an aggressive strategy by Diamondback to enhance its competitive edge in an era characterized by unprecedented technological advancements and an increased […]

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February 14, 2024
Texas Firm Settles Multimillion-Dollar Case with Government

In a significant development, a Texas-based company has reached a substantial multimillion-dollar settlement with the federal government. The exact details of the settlement, including the final agreed sum and the nature of the case, have not yet been disclosed. This development is a critical milestone for both the accused company and federal agencies, marking the […]

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February 14, 2024
Nigeria's Oil Production Potential at 2.26m bpd: NUPRC

The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) recently announced that the nation's technical oil production could potentially reach a substantial 2.26 million barrels per day (bpd). This information was disclosed by its Chief Executive, Mr. Gbenga Komolafe, who further elaborated on the factors influencing the nation's oil output. 1. The Nigeria Upstream Petroleum Regulatory Commission […]

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February 14, 2024
Chevron, NJ Refinery Firm Settle Emissions Dispute

Chevron, American multinational energy corporation, along with a New Jersey-based refinery company, recently announced the cessation of a longstanding legal dispute over a stringent regulation that demands significant reduction in particulate emissions. The settlement carries major implications for environmental policies and the oil industry. This litigation has fuelled debates over corporate responsibility and environmental stewardship, […]

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February 14, 2024
4G/5G Networks Boost Oil and Gas Industry Efficiency

Installing a 4G/5G private cellular network offers a panacea for oil and gas companies to tackle a plethora of their operational challenges. This technology solutions can empower them to elevate their performance levels by providing secure, robust connectivity, thus bridging the chasm between remote locations and centralized control rooms. It is an initiative that enables […]

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February 14, 2024
Texas Firm Settles Multi-Million Dollar Air Pollution Case

In a significant environmental legal news, a Texas-based company has agreed to a multimillion-dollar settlement with both the US Federal Government and the State of New Mexico, in a creatively-structured agreement meant to address the rampant issue of air pollution. The settlement comes after a prolonged period of intense scrutiny and legal pressure, marking a […]

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February 14, 2024
Apache Corp. to Invest $5.5M on Emission Standards Compliance

In a massive move towards sustainable operations, Apache Corp. has been compelled to invest a minimum of $5.5 million in upgrading its facilities to meet emission standards. The requirement, which comes amidst growing global concern over environmental degradation, represents a significant financial commitment from the company toward maintaining cleaner, greener operations. The mandate was highlighted […]

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February 14, 2024
Odessa American: Top Local News Source for Permian Basin

As the premier news outlet in the region, The Odessa American provides unrivaled coverage of local news, information, entertainment, and sports in the Permian Basin. Recognized as the region's leading source of news and information, we ensure our audience is always informed and updated about what's happening in their community. Our commitment to journalistic excellence […]

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February 14, 2024
Texas Firm Settles Multimillion-Dollar Case with Feds, New Mexico

In a landmark decision, a Texas-based company has agreed to a multimillion-dollar settlement with both the federal government and the state of New Mexico. This major development comes after undisclosed conflicts arose between the parties, with the specifics of the case still remaining under wraps. The settlement's exact sum has not been revealed but is […]

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February 14, 2024
US Oil Prices Dip Amid Surge in Crude Stockpiles

Oil prices experienced a slight decrease from their two-week high following a US industry report that indicated a significant increase in US crude stockpiles. The American Petroleum Institute (API) recently released data painting a bearish outlook for the oil market, casting doubt over a sustained recovery in oil prices, as the surge in US crude […]

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February 14, 2024
Benefits and Uses of Water in Oil and Gas Production

Historically, produced water, which surfaces as a by-product in oil and gas production, has largely been considered waste. However, in more recent years, this perception has begun to shift. The new outlook potentially assigns substantial value to this previously disregarded resource. This transformation in perspective offers remarkable implications for industries and the environment alike. In […]

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February 14, 2024
Utah BLM Seeks Public Input on Oil, Gas Parcels

The Bureau of Land Management (BLM) in the Utah State Office has declared the commencing of a 30-day public scoping period. This announcement came today with the intention of soliciting public opinion on the management of two oil and gas parcels. The public participation period, beginning immediately, welcomes the views and concerns of interested parties, […]

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February 14, 2024
Starmer's Windfall Tax Plans Could Cost the Country, per Stifel Analysis

Investment bank Stifel has conducted an analysis suggesting that the plans of Sir Keir Starmer, to increase and extend windfall taxes on the industrial sector, could potentially have damaging financial outcomes for the country. This comprehensive examination warns that the country may pay a hefty price for these proposed adjustments in taxation of the industry. […]

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February 14, 2024
Stephens' Six-Decade Career Journey in Oil Industry

In a fascinating journey that traverses over six decades, Stephens has etched a remarkably versatile career path in the oil industry. From his humble beginnings as a trucker to mastering the rig as a driller, and eventually possessing the astuteness of an engineer, his experiences are a testament to his adaptability and profound understanding of […]

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February 14, 2024
Johan Sverdrup Field Operational Since 2019

The Johan Sverdrup field, known as one of the largest ever in the country, is a colossal entity in the oil production scene. It has been operational and yielding copious amounts of fossil fuel ever since it started production in 2019. This vast hydrocarbon reservoir has significantly contributed to the country's energy sector, establishing itself […]

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February 14, 2024
Aramco Begins Trading US Crude Oil Grade Linked to Global Brent Benchmark

In a development that promises to reshape the global energy landscape, Saudi state oil giant Aramco has initiated the trading of a U.S. crude oil grade that forms the basis of the globally influential Brent benchmark. The move, which is undertaken as part of a procedure coordinated by oil-index, highlights Aramco's strategic intent to establish […]

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February 14, 2024
Prioritizing Climate Change over Exxon Profits

In an assertively constructed column, renowned journalist and commentator Kerry Drake posited his unequivocal opinion regarding our current global predicament. He states his firm belief that addressing the devastating impacts of climate change takes precedence over bolstering the profits of multinational petroleum corporations, such as Exxon. This provocative assertion immediately raises questions regarding the often-controversial […]

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February 14, 2024
Saudi Aramco's Steps to Reduce Flaring with Master Gas System

In this paper, we explore the strategic initiatives undertaken by Saudi Aramco to mitigate the environmental impacts of flaring in its operations. The key focus is the implementation and potential impact of the company's Master Gas System, a comprehensive solution developed with an aim to significantly reduce flare volumes, essentially aligning the company’s operations with […]

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February 14, 2024
Company to Pay $5.5M for Environmental Damages and Prevention Measures

In a significant move towards environmental accountability, the unnamed company has pledged to invest $5.5 million in preventative measures and efforts to rectify the environmental damage caused by its past violations. This initiative represents a substantial commitment from the firm to not just rectify its harmful actions, but also to develop systems and procedures that […]

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February 14, 2024
Sector's Annual Turnover Tops Rs2,400 Billion

The annual turnover of the sector has reached an astounding figure of over Rs2,400 billion, reflecting its economic potency in the country's financial landscape. Along with the turnover, it also makes a significant contribution of up to Rs550 billion in the form of duties, taxes, and levies, making it a significant pillar in the country's […]

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February 14, 2024
Petroleum-Rich Nordic Country Boasts Green Credentials

In the upper echelons of the thriving Nordic region, a wealthy nation silently etches its mark, its influence extending well beyond its geographical borders. This nation is none other than the power-packed haven, whose roaring engines of economy are fuelled by its abundant petroleum reserves. As western Europe's biggest petroleum producer, this affluent Nordic country […]

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February 14, 2024
2101 Severe OGE Injuries Reported to OSHA from 2015-2022

From January 2015 until July 2022, a total of 32 jurisdictions reported to the Occupational Safety and Health Administration (OSHA) about severe injuries that were suffered among the employees in the OGE (Oklahoma Gas & Electric) sector. During this seven-year period, it was disclosed that there were 2101 incidents of serious injuries which has sparked […]

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February 14, 2024
Biden's Gulf Drilling Plans Opposed by Both Environmentalists and Oil Interests

Environmental conservation organizations and oil and gas interest groups have filed conflicting lawsuits against President Biden's proposal to issue drilling leases in the Gulf of Mexico. These divergent petitions underscore the ongoing contentious issue of expanding energy development versus environmental protection. This legal showdown has the potential to shape the Biden administration's future approach to […]

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February 14, 2024
Diamondback's $26B Endeavor Takeover Firms Permian Basin Grip

In a move that is set to significantly reshape the landscape of the oil and gas industry in the United States, Diamondback Energy has announced a colossal $26 billion takeover of Endeavor Energy Resources. This monumental merger not only launches Diamondback into the upper echelons of oil and gas companies in the nation but also […]

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February 14, 2024
API Files Lawsuit Against Biden Administration

In a bold legal move, on the same day, the American Petroleum Institute (API), a trade group representing oil and gas interests, lodged a lawsuit against the Biden administration. The lawsuit is the latest development in a series of escalating tensions between the fossil fuel industry and the new administration. The API accuses the administration […]

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February 14, 2024
California Begins Process to Ban Oil and Gas Industry

Almost three years after Governor Gavin Newsom issued a directive, California's oil and gas industry regulator has initiated a process to implement an outright ban. This significant move reflects the state's progressive shift towards renewable energy sources and highlights its firm stance on environmental conservation. The potential ban, if successfully enacted, will be a groundbreaking […]

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February 14, 2024
Can Fossil Fuel Interests Benefit from Strong Regulations?

In recent years, the influence of tobacco lobbyists has been significantly curtailed due to regulatory measures. This has sparked an intriguing debate in the midst of our climate crisis – is it possible to apply a similar regulatory strategy to fossil fuel interests? Given the urgent need to reduce greenhouse gas emissions, could a 'tobacco-style' […]

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February 14, 2024
Autry Stephens: A Six-Decade Journey in the Oil Industry

For over 60 years, Autry Stephens has proved to be a jack-of-all-trades in the oil industry, taking on roles that range from being a trucker to a driller and even an engineer. The breadth and depth of his experience is a testament to his unparalleled dedication and resilience that have seen him master various aspects […]

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February 14, 2024
Western NDP Wings Criticize Bill to Ban Oil Ads

The recently proposed Federal NDP bill that seeks to impose a complete ban on oil industry advertising has sparked severe backlash from the western wings of the party. Critics argue that the ban would unfairly penalize the vital sector, and add fuel to the fire of west-east divisions within the party, further challenging party unity […]

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February 13, 2024
Watchdog Flags Potential Influence on Duguid's Actions by £50000 Shares

A government watchdog has identified three incidents in which David Duguid, a prominent political figure, might have been influenced by £50,000 worth of shares he owns. It has raised questions about potential conflict of interest, prompting the watchdog to launch an investigation to determine whether Duguid's financial interests unduly swayed his political actions. 1. Government […]

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February 13, 2024
Colorado Democrats Plan Bill to Ban New Drilling by 2030

Colorado Democratic senators have announced their intentions to introduce a stringent piece of legislation aimed at combating climate change. The proposed bill seeks to impose an outright ban on any new oil and gas drilling activities in the state by the year 2030. Additionally, the legislation will also demand companies to pay significantly more for […]

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February 13, 2024
New Climate Change Statement Limits Oil, Gas Finance

The recently revised Climate Change Statement signifies a crucial step towards sustainable financing, stipulating that no project finance or any other form of direct financial aid will be provided to energy clients for the purpose of expanding their upstream oil and gas operations. This progressive move is a testament to the growing conscious effort being […]

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February 13, 2024
Legal Battles on US Administration's Five-Year Oil Plan

On Feb. 12, a significant tug of war unveiled between oil and gas corporations and environmental entities as they lodged conflicting legal objections against the five-year plan set forth by the U.S. administration. The plan, intended to provide leases for oil and gas exploration on federal lands and offshore areas, incited a high-stakes legal showdown […]

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February 13, 2024
Santa Maria Valley Shaped by Local Oil Industry

The Santa Maria Valley owes much of its development and prosperity to the local oil industry, a fundamental cornerstone that helped shape the region into what we know today. However, for several years now, the oil wells located off Union Valley Parkway have remained idle and unused, marking a significant shift in a once thriving […]

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February 13, 2024
State Regulator Proposes Ban on Oil, Gas Extraction

Last week, the oil and gas industry regulator of the state published a preliminary regulation that seeks to outlaw the practice of oil and gas extraction. This proposed rule comes as an assertive move in the industry, potentially having far-reaching implications on existing methods and procedures of oil and gas exploitation. 1. The state's oil […]

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February 13, 2024
West Virginia Committee Advances Gas, Oil Bill

The West Virginia House of Delegates Finance Committee has pushed forward House Bill 4850 for further considerations. The critical piece of legislation aims to eliminate a sunset provision currently affecting gas and oil personal property taxes. The move marks a significant step as the lawmakers seek to provide substantial long-term relief from these non-real property […]

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February 13, 2024
Oil Firms Defend Washington's Carbon Cap Program

In a surprising twist on the climate debate, some oil companies are choosing to defend Washington's new carbon cap-and-invest program against an upcoming ballot measure aiming to repeal it. The companies argue that addressing climate change is a necessary step the industry needs to take, and that the cap-and-invest program is an effective method of […]

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February 13, 2024
Small Farmers Resist Forced Expropriation in Rio

In the northern region of Rio de Janeiro, nestled in the Port of Açu, persistent resistance has been a way of life for several years now. Residents and small-scale farmers there have boldly stood against the forced expropriation of their land, a resistance fueled by the intended preservation of their homes, farms, and the heritage […]

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February 13, 2024
European Parliament Considers Ban on Big Oil Lobbying

The European Parliament could soon impose a public interest ban, targeted at restricting big oil and gas companies from establishing contact and influencing political decisions, according to recent reports. This measure seeks to control the enormous influence such corporations have over governmental policies, particularly those relating to environmental conservation and climate change measures. The proposed […]

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February 13, 2024
Edible Oil Industry Pushes for Tax Reform

The edible oil industry has begun vigorously advocating for tax reform, to better support their trade amidst challenging economic conditions. Key manufacturers within the industry are specifically calling for a reduction in the duty imposed on Crude Palm Oil (CPO). Furthermore, these industry leaders are pushing for the abolition of section 8B of the current […]

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February 13, 2024
New Mexico Plans Billions to Maintain Government Spending

In an unprecedented move, New Mexico is gearing up to reserve billions of dollars to secure future government spending. Facing the increasingly volatile oil and gas markets, upon which the state heavily relies for its revenues, New Mexico's financial strategy is to build a considerable financial buffer. This financial defense will ensure the continued provision […]

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February 13, 2024
Q4 2023 Sees $71.7bn in Global Oil & Gas Sector M&A Deals

The oil and gas industry has been quite active on the global M&A scene in Q4 2023, with a total of 26 merger and acquisition deals being officially announced. According to the sophisticated data analysis by GlobalData, the cumulative worth of these deals reached an impressive value of $71.7 billion. This remarkable amount indicates a […]

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February 13, 2024
Oil Firms, Environmental Groups File Opposing Legal Challenges Against Biden's Policies

On Monday, oil and gas companies and environmental groups both filed opposing legal challenges to the Biden Administration's ongoing policies. Representing contradictory interests, these businesses and environmental advocates aim to influence the future of energy and environmental regulations. This dual confrontation underscores the tension between industries reliant on fossil fuels and those pushing for more […]

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February 13, 2024
Indonesia's Oil Palm Plantation Growth and Forest Conversion 2001-2023

This article provides a comprehensive analysis of the alarming expansion of industrial oil palm plantations in Indonesia from 2001 to 2023, shedding light on the rate and implications of this plantation increase, particularly the associated forest conversion. A statistical review is used to illustrate the growth trajectory, with white bars symbolising the growing oil industry's […]

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February 13, 2024
Global Oil & Gas Industry Sees 13 M&As Worth $3.8bn in Q4 2023

The final quarter of 2023 witnessed a noteworthy surge in merger and acquisition (M&A) activities within the global oil & gas industry. Data collated by GlobalData reveals a total of 13 M&A deals were announced during this period, amounting to a staggering cumulative value of $3.8 billion. This impressive figure underscores the dynamic nature of […]

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February 13, 2024
Carlos Slim Aims to Expand Oil Investments in US

Mexican billionaire Carlos Slim has expressed interest in expanding his investment portfolio within the oil sector. Notably, Slim has his sights set on U.S-based company, Talos Energy, as well as its range of promising projects. As one of the richest men in the world, Slim's potential move into the energy sector signals confidence in the […]

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February 13, 2024
Potential Sale of Exxon, Chevron Shares by State Pension Fund

In an impending decision that could send shockwaves through the energy sector, the manager of the state's largest pension fund is currently deliberating on whether to divest from Exxon, Chevron, and other oil industry giants. This possible change in investment strategy, which is anticipated to be announced soon, comes amidst growing concerns over the environmental […]

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February 13, 2024
American Petroleum Institute Petitions Over Interior Department's Plan

The American Petroleum Institute (API) has launched a petition challenging a recent plan released by the Interior Department, causing a stir within the industry. This move comes four months after the unveiling of a congressionally mandated plan by the Interior Department, marking an ongoing debate between fossil fuel and conservation interests in the United States. […]

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February 13, 2024
Canada's New TMX Pipeline Revives Struggling Industry

After enduring years of crippling hardship, Canada's oil and gas industry is inching towards a significant recovery, courtesy of the costly, newly built Trans Mountain Expansion (TMX) pipeline. A beacon of hope for the beleaguered sector, this ambitious project promises to bolster the country's energy infrastructure, offering a much-needed lift after years of stagnation. The […]

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February 13, 2024
US Oil, Gas Industry Sues Biden Administration Over Offshore Drilling Restrictions

The US oil and gas sector has launched a legal attack against the Biden administration, challenging its move to drastically limit offshore drilling activities. This measure forms part of a mounting industry-wide backlash against the government’s ambitious climate change policies, aimed at drastically cutting fossil fuel use. Industry representatives argue that the restrictions threaten their […]

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February 13, 2024
Oil Firms and Green Groups Contest Biden's 5-Year Plan

(Reuters) - Conflicts are escalating as oil and gas firms and environmental activists launch opposing legal threats against the five-year plan unveiled by the Biden administration. This contentious plan pertains to lease millions of acres in the Gulf of Mexico for fossil fuel exploration, leading to an intense clash of industrial and environmental interests. 1. […]

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February 13, 2024
Shale Industry Consolidation Signifies Maturation

The recent consolidation of Oil Corp. and Devon Energy Corp. signifies a significant evolution in the traditionally fragmented shale industry. As publicly traded companies face increasing pressures from various fronts, this merger marks a strategic attempt to unify resources and strengthen market position. This move underscores a broader trend towards consolidation as a means of […]

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February 13, 2024
Oil Industry's Max-Out Strategy in Gulf Faces Legal Challenge

In a maneuver that denotes a heightened urgency in fossil fuel extraction, the oil industry has adopted an aggressive max-out strategy in the Gulf region by bringing forth a new legal challenge. This move comes with several concerning implications and has sparked deep concern among environmental advocates. The alarming foreground of this approach throws into […]

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February 13, 2024
Funds Optimistic on Gasoil as Europe's Industrial Slump Wanes

Investors are gradually adopting a less pessimistic stance on gasoil as key indicators suggest that Europe's industrial downturn may be approaching a conclusive end. This outlook is further shaped by the ongoing disruption of east-west trade routes, which is creating new dynamics in the market. As trends and forces shift, funds have grown less bearish, […]

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February 13, 2024
New Mexico Funds Future Government Spending with Oil Revenue

New Mexico, widely renowned for its oil production, is taking a strategic move towards maintaining its economic health in the future. The state is gearing up to set aside billions of dollars to sustain government spending in the potential scenario that the current oil production bonanza fades. This financial maneuver illustrates a keen foresight to […]

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February 13, 2024
Diamondback Energy Ranks No. 1 for Revenue Growth

Diamondback Energy, a leading oil and gas exploration company, remains a prominent figure in the energy sector. With a firm commitment to supplying the ever-growing demand for energy, they have continuously evolved their strategies, demonstrating adaptability and resilience in an industry characterized by sporadic changes and unpredictability. This post will further explore the strategies employed […]

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February 13, 2024
Lompoc Oil Field: A Major Discovery in 1903

The Lompoc Oil Field, a prominent oil field that lays nestled in the Purisima Hills north of Lompoc, embodies a significant part of American history. This expansive field was discovered in 1903, a solid two years subsequent to the revelation of the.... The story of this field shines a light on the intricacies of the […]

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February 13, 2024
New Mexico Plans $1B Fund for Tuition-Free College, Government Spending Sustainability

In an unprecedented move, the government of Santa Fe, New Mexico, is planning to reserve more than $1 billion to introduce tuition-free higher education. This initiative not only aims at ensuring accessibility of education to all, but also looks forward to sustain government spending in unforeseen crises. The bold and progressive endeavor, if enacted, could […]

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February 13, 2024
Oil and Gas Sector Boosts Global Deal Values

Welcome to our post! We're Fareed Sahloul, based in sparkling New York, and Kiel Porter, hailing from the windy city of Chicago, here to guide you through an insightful exploration of the oil and gas sector's pivotal role in driving global deal values. Looking across the business landscape from our respective coasts, we’re delving into […]

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February 13, 2024
Nate Bridges on Combatting Ineffective Tech in Oil & Gas Sector

In his latest insightful piece, expert Nate Bridges delves into the reasons behind the current stagnation in innovation, chiefly highlighting the role of ineffective technology. He believes that the persistent use of outdated or ill-suited tech solutions is significantly hampering progress not just in general, but quite notably in the oil and gas sector. Taking […]

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February 13, 2024
Joint Ventures with State Oil Companies Face Terror Concerns

In our current global petroleum industry landscape, energy corporations have increasingly turned towards extracting oil and gas through collaborative joint ventures together with state-owned oil companies. These partnerships have, however, not been free from complexities. Interestingly, some of these state-owned entities were previously targeted by terrorists, adding a layer of geopolitical risk that cannot be […]

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February 13, 2024
Shell to Continue Oil Production in Offshore Sector

Royal Dutch Shell, simply known as Shell, has expressed its intention to sustain its oil production activities in the country's lucrative offshore sector, commensurate with its gas supply to the general consumer market. The multinational oil and gas company currently touts a notable 25.6% stake in the industry. 1. Royal Dutch Shell, also known as […]

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February 13, 2024
February 2020 Oil and Gas Lease Sale Details

In our continuous effort to promote sustainable energy development while also protecting our environment, we bring your attention to the February 2020 Competitive Oil and Gas Lease Sale scheduled by the Rio Puerco Field Office. We welcome stakeholders, concerned citizens, and industry members to participate in the shaping of our energy future. For diving deeper […]

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February 13, 2024
UK Awards Oil & Gas Licenses, Woodside Expands Portfolio

In this latest industry update, we delve deeper into several key activities reshaping the Oil & Gas sector. These include an increase in offshore assignments, expansion of oil & gas portfolios through strategic acquisitions, the UK government's aggressive streak in awarding exploitation licenses and Woodside's new market maneuverings. Each of these developments is creating intriguing […]

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February 13, 2024
Draft Language Sparks State Capitol Conflict in Denver

In a significant move, draft language finding common ground on environmental policies has been reviewed and explored in vigorous discussions with both industry leaders and environmental advocates. This development is paving the way for asserting a grand arena for debate and contention at the State Capitol in Denver. 1. A draft language addressing environmental policies […]

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February 13, 2024
Oil Companies Rank Third in Q4 Production Volume

One of the most noteworthy developments in the global oil industry surfaced last year as two major companies jointly produced an impressive 816,000 barrels of oil equivalent per day in the fourth quarter. Coming up just behind giant corporations such as Exxon and Chevron, their collaborative venture marked a significant move within the competitive energy […]

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February 13, 2024
Texas Energy Industry Continues Strong Growth

ODESSA - According to a recently published report by the Texas Oil and Gas Association, the Lone Star state's energy industry is demonstrating unwavering strength. With record-breaking figures being the recent trend, it's clear that the oil and gas sector in Texas is not showing any signs of waning. 1. The Texas Oil and Gas […]

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February 13, 2024
Diamondback Energy: The Silicon Valley of Oil Industry

Diamondback Energy Inc. is setting unprecedented records in the Permian petroleum industry. It mirrors what can be best described as the closest the gas and oil sector has ever come to replicating the success of a Silicon Valley startup. This has been demonstrated through its rapid and innovative growth strategy, pushing the boundaries of what […]

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February 13, 2024
West Virginia House Passes Enhanced Oil Recovery Bill

In an impactful legislative move, the West Virginia House of Delegates has passed House Bill 5268, paving the way for a more progressive energy sector. This noteworthy bill is designed to enable enhanced oil and gas recovery for horizontal well drilling, marking a significant shift towards increased energy production in the state. This proposed law […]

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February 13, 2024
Oil and Gas Group Challenges Biden's Gulf Drilling Plan

The American Petroleum Institute (API), a prominent oil and gas industry organization, announced on Monday that it has initiated a legal battle against the Biden administration. The group contends the recent government plan to auction drilling leases in the Gulf. The move marks a significant escalation in the industry's response to President Biden's policies, which […]

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February 13, 2024
Trade Group Sues Biden Administration Over Oil Plan

In a landmark dispute, the leading fossil fuel industry trade group lodged a legal challenge on Monday against the Biden administration's five-year plan for oil and gas leasing and development. The group argues that the plan could potentially drive up energy costs and eliminate jobs while not significantly addressing climate change concerns. The move is […]

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February 13, 2024
Palm Oil: A Key Ingredient in Consumer Goods and Industrial Lubricants

Fatty acids, bearing palm oil as a primary raw ingredient, permeate an eclectic mix of consumer and industrial products. From everyday items such as cosmetics and medicine to the mechanical world of industrial lubricants, these fatty acids have a widespread usage. They have uniquely cemented themselves as a crucial element of a varied spectrum of […]

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February 13, 2024
US Oil Industry Grows with Diamondback, Endeavor Merge

In a move highlighting the increasing consolidation in the US oil industry, onetime Texas rivals Diamondback Energy and Endeavor Energy recently made waves in the market. Keeping in line with the dynamic nature of the petroleum sector, this blog post will delve into the details of this intriguing development and shed light on what it […]

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February 13, 2024
Devon Energy, Oil Corp Consolidation Signals Shale Industry Maturation

In a significant move that signals the maturation of the once fragmented shale industry, Oil Corp. and Devon Energy Corp. are consolidating their operations. This strategic pivot comes at a time when publicly traded companies are grappling with multifaceted industry challenges and increased pressure for operational efficiency and sustainability. The merger reinforces the ongoing transformation […]

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February 13, 2024
Diamondback Energy Acquires Endeavor Energy for $26B

Diamondback Energy Inc. has entered into a multi-billion dollar agreement to purchase Endeavor Energy Resources LP, a peer company also based in Texas. The deal, valued at $26 billion, will be paid in both cash and stock and cements Diamondback's place as one of the leading oil-and-gas producers in the region. 1. Diamondback Energy Inc. […]

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February 13, 2024
Two Major Oil-Drilling Firms in West Texas to Merge

In the heart of the oil- and gas-rich Permian Basin in West Texas, a major merger has taken place. Diamondback, a publicly held oil-drilling company, and its undisclosed counterpart, also a major player in the oil industry, announced their unison on Monday. The merger of these two big oil-drilling companies marks a significant development in […]

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February 13, 2024
Man Set to Become America's Wealthiest Oil Tycoon

Having experienced every aspect of the oil industry - from the gritty work of a trucker to the technical precision of an engineer, even the demanding rigors of a driller - one man now stands on the precipice of a significant achievement. At the cusp of an illustrious chapter in his career, he is all […]

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February 12, 2024
Intensified Examination of Brazil's Fossil Fuel Impact

As Brazil's fossil fuel industry strategizes plans for expansion, the implications this growth may have on the environment are necessitating a closer look. Of particular concern is the anticipated surge in air pollution from the combustion of oil, gas, and coal. This issue is of utmost importance, especially considering the potential havoc these pollutants can […]

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February 12, 2024
Barclays Overhauls Funding Policies for Oil, Gas Projects

In a bold move indicative of the growing prioritization of sustainability, Barclays, a prominent figure in the global banking sector, has unveiled a series of substantial amendments to its financing protocols in relation to oil and gas initiatives. These wide-ranging modifications highlight the increasing focus on environmental responsibility within the financial sector, and underscore the […]

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February 12, 2024
Galp Reports 14% Annual Net Income Boost in 2023

Portugal's premier oil and gas powerhouse, Galp, has revealed a robust 14% surge in its annual net income for the year 2023, with total earnings amounting to €1 billion ($1 billion). The company's... 1. Portugal's leading oil and gas company, Galp, has reported a strong 14% growth in its annual net income for 2023, reporting […]

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February 12, 2024
Oil Minister Discusses Industry Events with International Companies

The oil minister engaged in talks with international oil companies in a bid to initiate strategic improvements in the oil industry. These discussions, including key industry events, were also directly communicated to consumers, making them aware of the ongoing industry dynamics. The summaries of these meetings were shared on the Thomson Reuters platform, enabling followers […]

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February 12, 2024
Potential Diamondback-Endeavor Tie-Up Could Dominate Permian Basin

The potential collaboration between energy powerhouses, Diamondback Energy and Endeavor Energy Resources, could make significant waves in the energy industry, particularly in the Permian Basin region. If things go according to plan and this joint venture finds success, a new and powerful player can be anticipated to emerge within the gigantic Permian Basin oil and […]

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February 12, 2024
Latest Megadeal Rocks Oil-and-Gas Industry

Endeavor is yet to issue a response in the wake of a request for comment early Monday regarding a potential large-scale deal. This potential transaction is the newest in a string of substantial mergers and acquisitions within the oil-and-gas sector, rounding off a series of strategic industry moves that began with the mega-deal between Exxon […]

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February 12, 2024
Diamondback Energy and Endeavor Resources Boost Permian Basin Operations

Diamondback Energy and Endeavor Energy Resources have established themselves as major players in the thriving Permian Basin oil field, which stretches across New Mexico and Texas. Both companies have made significant contributions to the region's increasing energy output, reinforcing the status of the Permian Basin as one of the most prolific oil and gas producing […]

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February 12, 2024
Russian Exports to Europe Drop by 68% in 2023

In a striking testament to the impact of geopolitical frictions and shifts in energy sourcing, Russia's exports to Europe saw a stark nosedive of 68% in 2023 compared to the previous year. This significant drop can largely be attributed to a substantial reduction in the European Union's import of oil and gas from Russia, underlining […]

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February 12, 2024
Nilgiris Eucalyptus Oil Industry Facing Extinction

As the cold, gentle winds of the Nilgiris roll over a landscape dotted with towering, majestically green eucalyptus trees, nature quietly whispers an unspoken sorrow. The scent of eucalyptus oil, commonly celebrated as a potent aromatic pick-me-up with a multitude of health benefits, fills the air. However, a closer look reveals a disheartening reality - […]

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February 12, 2024
Endeavor Takeover Targets Increased US Oil Production

The recent deal, along with the imminent takeover of Endeavor, spearheads the concentrated effort to tap into more oil and gas reserves nestled within the extensive Permian oilfield in the US. This expansive frontier, spreading across multiple states, serves as the country's significant source of these natural resources. The business moves reinforce the strategic goal […]

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February 12, 2024
Montana-Dakotas BLM Announces April Oil, Gas Lease Sale

The Bureau of Land Management Montana-Dakotas State Office in Billings, Montana, recently disclosed plans for an oil and gas lease sale. The much-anticipated auction, which features exciting opportunities for prominent players in the oil and gas industry, is set to take place on April 16. 1. The Bureau of Land Management Montana-Dakotas State Office in […]

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February 12, 2024
Diamondback CEO Forecasts Industry-Leading Inventory Post-Merger

Diamondback Energy's top executive, CEO Travis Stice, has expressed his confidence in the consolidated firm's future, asserting that their oil and gas inventory will surpass that of competitors. This statement suggests a promising trajectory for the new entity created from the merger, with an implication of a strong influence over the energy industry. This news […]

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February 12, 2024
Gazprom Secures Nasiriyah Oil Field Contract in Iraq

In a significant development, Russian gas behemoth Gazprom has secured the developmental contract for Nasiriyah, a supergiant oil field located in the strategically crucial southern eastern sector of Iraq. The deal is seen as a massive boost for Gazprom project portfolio, marking their expanded footprint in the global oil sector. 1. Russian gas company Gazprom […]

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February 12, 2024
Prominent Global Oil Industry Players: Exxon, Shell, Chevron

In the international petroleum sector, some of the most influential and distinguished companies include Exxon Mobil Corporation (NYSE:XOM), Shell plc (NYSE:SHEL), and Chevron Corporation. These giants have an imposing presence within the global oil industry, commanding vast influence over production, exploration, refining, and sales. They are the engines driving the fossil fuel industry and play […]

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February 12, 2024
North America's Weekly Oil and Gas Rig Count

This week's report sees an alteration in the number of oil and gas rig count, reflecting the ever-changing dynamic of the energy industry. The total North America rig count, a valuable metric for gauging the health of the industry, has experienced significant fluctuation. Baker Hughes, a prominent company delivering transformative solutions to the energy industry, […]

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February 12, 2024
Company Cancels Plans to Boost Oil Production Capacity

In a significant move that caught the oil industry off guard, the company last month disclosed a decision to halt its plans to boost production capacity. Originally, the company aimed to increase output by a notable margin of approximately 8%, targeting a staggering total of 13 million. The sudden U-turn in strategy has stirred conversations […]

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February 12, 2024
Bank Ends Direct Funding for Oil, Gas Projects

The bank has recently issued a statement where it pledges to terminate any direct financial support for oil and gas projects situated in environmentally vulnerable regions, including areas like the Amazon. This declaration showcases a progressive turn in its investment strategies, indicating a shift towards more planet-friendly policies. The bank's new stance signifies a promising […]

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February 12, 2024
$26 Billion Deal Transforms Oil Industry Landscape

In a significant move triggering oil industry consolidation, a whopping $26 billion deal that includes Endeavor's oil and gas projects has been announced. This mammoth transaction promises to not only reshape the landscape of the oil industry but also add an interesting new dynamic to the existing fraternity of experienced and innovative industry professionals. It's […]

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February 12, 2024
Firm Criticized for Lack of Emissions Disclosure

Recently, a wave of criticism has hit a certain corporation as it faces backlash for failing to reveal details of its greenhouse gas emissions. This is a vital component of its impending capital markets strategy, especially considering it involves oil and gas companies. The company's apparent lack of transparency in such an essential environmental aspect […]

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February 12, 2024
Diamondback Set to Announce Major $50 Billion Deal

In what could potentially be a major move in the oil and gas industry, sources revealed on Sunday that a company valued at over $50 billion is expected to make a strategic transaction. The company in question may be Diamondback Energy, with insiders hinting that the significant announcement could occur as early as Monday. 1. […]

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February 12, 2024
Oil Price Drops Amid China's Weak Consumption and Delayed US Interest Cuts

In a swift market reaction, oil prices sharply declined and erased earlier gains amid worsening conditions in China's consumption market, delays in proposed interest rate cuts by the US Federal Reserve, along with other socio-economic factors. These geopolitical developments have cast a shadow over the global energy market, diverting expected growth trajectories and sparking concerns […]

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February 12, 2024
Oil and Gas Research Findings Useful in Other Fields

In a groundbreaking discovery, prominent research conducted by SINTEF, traditionally aimed at the oil and gas sector, now appears to bear incredible implications for other industries as well. Written by Silje Grytli Tveten, this extensive study holds the potential to significantly alter our approach to various industrial processes and procedures, underscoring the versatile applicability of […]

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February 12, 2024
BofA Selects Phillips 66, Exxon, Marathon as Top Energy Stocks

In the robust arena of the energy sector, Bank of America has made its selections for the most promising stocks. Their attention is particularly drawn towards Phillips 66 (NYSE:PSX), Exxon Mobil Corp. (NYSE:XOM), and Marathon Petroleum Corp. (NYSE:MPC). BoFA analysts have identified these stocks as showing remarkable potential for growth and profit, driven by meticulous […]

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February 12, 2024
Nestle, Kellogg's Oil Supplier Tied to Peru Deforestation

Major oil suppliers linked to household names such as Nestle and Kellogg's have been implicated in def