Production & Industry news

• Oil Prices Close Lower as Chinese Stimulus Measures Disappoint

  08-11-2024 21:33 via rigzone.com
  Oil prices fell as weak Chinese stimulus and post-election uncertainty kept WTI trading in a tight range.
  
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• SBM Offshore Sells FPSO Prosperity to ExxonMobil Guyana

  13-11-2024 13:00 via rigzone.com
  ExxonMobil Guyana assumes ownership of the unit, while SBM Offshore will continue to operate and maintain the FPSO up to 2033.
  
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• EDP Board Member Flags 'Greatest Transformation of All Time' at Web Summit

  13-11-2024 12:20 via rigzone.com
  Rigzone attends the Web Summit event in Lisbon, Portugal.
  
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• Biden Imposes Levy on Methane Despite Trump's Election

  13-11-2024 10:17 via rigzone.com
  Oil and gas producers in the U.S. will for the first time be required to pay for some of their methane emissions.
  
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• Shell Wins Appeal in Dutch Climate Suit

  13-11-2024 09:38 via rigzone.com
  The Hague Court of Appeal agreed with Shell that the company could not be legally forced to set a specific emissions target.
  
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• Oil Prices Rangebound Amid Weak Demand Outlook

  12-11-2024 21:47 via rigzone.com
  Oil prices held near November lows as oversupply indicators and demand downgrades weighed on the market, with Brent ending below $72 amid a strong dollar and cautious trading on Middle East tensions and economic uncertainties.
  
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• Exxon CEO Pushes Back on Trump's Anti-Climate Agenda

  12-11-2024 17:10 via rigzone.com
  'The way you influence things is to participate, not to exit'.
  
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• USA Oil Production Unlikely to Surge Under Trump, StanChart Says

  12-11-2024 12:19 via rigzone.com
  'There is a recent media narrative that the second Trump administration will lead to a surge in U.S. oil production'.
  
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• CNOOC Starts Production at Long Lake Oil Sands Project in Canada

  12-11-2024 08:51 via rigzone.com
  The Chinese state-backed E&P company expects to achieve a peak production of 8,200 barrels of crude oil per day next year at the Alberta project.
  
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• COP29 Negotiators Agree on Global Carbon Market Mechanism

  12-11-2024 08:49 via rigzone.com
  Climate negotiators secured a breakthrough on day one of the COP29 climate summit.
  
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• Senegal to Commit to $2.7B Green Transition Plan

  11-11-2024 22:00 via rigzone.com
  Negotiations over the pact with some of the world's richest nations had been slowed by a change of government in Senegal this year.
  
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• WTI and Brent Drop on Soft China Demand

  11-11-2024 21:36 via rigzone.com
  Oil prices continued their decline as weak demand signals from China and easing market tightness pressured crude futures, with WTI settling near $68 and Brent below $72.
  
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• Trump Is Likely to Exempt Canadian Energy From Tariffs, Wilbur Ross Says

  11-11-2024 15:41 via rigzone.com
  Canada is the largest external supplier of energy to the United States.
  
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• Analysts Explain Why USA Natural Gas Price is Rising

  11-11-2024 15:13 via rigzone.com
  Why is the U.S. natural gas price rising today? That's the question Rigzone asked several analysts on Monday.
  
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• Oil Players Eagerly Anticipating What Lies Ahead After Trump Win

  11-11-2024 13:00 via rigzone.com
  'Regardless of geopolitical uncertainties and the recent election outcome, persistent trends in oil markets are likely to shape the outlook ahead', Rystad stated in a market update sent to Rigzone.
  
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• EMEA OFS Companies Will Continue to Report Strong Performance

  11-11-2024 11:15 via rigzone.com
  'We expect earnings growth of more than 10 percent in 2024 for oilfield services companies we rate as the industry benefits from rising upstream capital spending', a Moody's Ratings report stated.
  
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• Russia Mulls Merging Biggest Oil Companies, Reports WSJ

  11-11-2024 07:30 via rigzone.com
  Under one potential plan, state-backed Rosneft would take over Gazprom Neft and Lukoil, the newspaper said.
  
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• China Oil Imports Sink Again

  08-11-2024 07:30 via rigzone.com
  Year-to-date shipments are now running more than three percent behind last year's pace.
  
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• WTI and Brent Climb as Traders Weigh Mixed Market Signals

  07-11-2024 21:51 via rigzone.com
  Oil prices rose, buoyed by equities and a weaker dollar, as traders navigated the mixed effects of Trump's presidency, potential Iran sanctions, and geopolitical tensions on the crude market.
  
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• From Oil to EVs, Trump Return Set to Shake Up Energy Policy

  07-11-2024 13:39 via rigzone.com
  The election win positions Trump to deliver on his campaign pledges to go after climate policies he has dubbed the 'green new scam' while reorienting the federal government toward pumping more crude and building more power plants.
  
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• Oil Slips as Trump Victory Sparks Market Uncertainty

  06-11-2024 22:50 via rigzone.com
  Oil prices edged lower as Trump's win lifted the dollar and raised speculation of stricter Iran sanctions, while traders also monitored Gulf production threats from Hurricane Rafael.
  
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• API Hopes to 'Unleash American Energy' with Trump Win

  06-11-2024 14:54 via rigzone.com
  'We look forward to working with the incoming administration and leaders in both parties to advance bipartisan solutions that unleash American energy as a driver of economic prosperity, environmental progress and stability around the world'.
  
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• Trump Pulls Off White House Return in Polarized Election

  06-11-2024 13:56 via rigzone.com
  Trump, 78, won an unprecedented race during which he was convicted of felonies, survived two assassination attempts and crushed a challenge from Vice President Harris after she replaced the unpopular President Biden in the campaign's final months.
  
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• Wood Bags Contract for Aramco's Gas Project

  06-11-2024 13:00 via rigzone.com
  The project, which is expected to take one million engineering hours to execute, will support the country's goal of increasing natural gas production.
  
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• Libya Eyes Oil Exploration Tender by Early 2025, First since 2011 Civil War

  06-11-2024 07:30 via rigzone.com
  The OPEC member looks to bring back oil majors spooked by years of instability and production shutdowns.
  
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• Oil Prices Rise Amid US Election Uncertainty and Storm Threats

  05-11-2024 22:16 via rigzone.com
  Oil prices rose as election uncertainty and Tropical Storm Rafael threaten Gulf production, with potential policy shifts under either presidential outcome expected to impact the oil market further.
  
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• Kremlin Oil Revenue Down 29 Percent in October Amid Lower Prices

  05-11-2024 16:30 via rigzone.com
  Oil-related taxes, a key source of financing for Russia's war against Ukraine, shrank to $10.7 billion last month.
  
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• Tight US Election Polls Drive C-Suite Angst over Taxes

  05-11-2024 13:42 via rigzone.com
  Earnings calls have been filled with talk of uncertainty about the aftermath of Tuesday's election, which has delayed spending as potential policy changes loom large.
  
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• Oil Rallies on OPEC+ Decision and US Election Jitters

  04-11-2024 22:12 via rigzone.com
  A weaker dollar and election uncertainty support rising oil prices, as traders reassess market positions.
  
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• Trudeau to Order Oil, Gas Producers to Cut Emissions by 35 Pct

  04-11-2024 22:00 via rigzone.com
  Prime Minister Justin Trudeau's government will require Canada's oil and gas industry to cut emissions by 35 percent from 2019 levels.
  
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