Author hkrichiedistribution
America’s nascent status as a net petroleum exporter is already at risk as plunging oil prices threaten domestic production and give a leg-up to world’s biggest producers. The U.S. only in recent months began exporting more petroleum than it imports, a shift fueled by record shale production in fields such as the Permian Basin. Now,
Neptune Energy has reportedly halted all helicopter traffic to and from the Gjøa platform in the North Sea, off Norway, on suspicions that a crewmember aboard has contracted coronavirus. According to a report by NRK on Friday, a female offshore worker on the platform has been quarantined after being in contact with a person onshore,
U.S. supermajor ExxonMobil maintains its strategy for capital expenditures between US$30 billion and US$35 billion each year through 2025, chairman and CEO Darren Woods said at the company’s annual investor day on Thursday, even though oil prices have tumbled by 25 percent since the start of the year. This year, Exxon sees its investments at around US$33
Russia resisted pressure from OPEC allies to make deeper production cuts, pushing the cartel’s high-stakes diplomatic gamble to the brink of failure and sending prices plunging. Energy Minister Alexander Novak arrived from Moscow on Friday morning and told fellow ministers that he favored maintaining the group’s supply reduction at current levels until June, when they
Saudi Aramco is delaying the release of its monthly crude-pricing announcement, an exceptional step by the world’s biggest oil exporter, as it waits to see if the OPEC+ alliance will deepen cuts in global output. Aramco plans to announce on Saturday the official pricing for crude that will be exported in April, according to people
The Trump administration is moving to sell drilling rights in the Arctic National Wildlife Refuge, Interior Secretary David Bernhardt said Saturday. “We are about to finalize a leasing plan for that,” Bernhardt said at the Conservative Political Action Conference in Maryland, without providing a more specific timetable. His declaration comes amid delays in standing up
China National Petroleum Corp. has issued a force majeure on all prompt natural gas imports, according to people with knowledge of the situation, the second Chinese buyer to refuse shipments in a sign that global commodity flows may face a sustained impact from the coronavirus fight. CNPC, the parent of PetroChina Co., is taking the
The European Commission proposed on Wednesday enshrining the European Green Deal’s commitment for carbon neutrality by 2050 into legislation, as part of the European Union’s heightened focus on climate action and policy. Under a European Climate Law, the 2050 carbon neutrality target would become legally binding, and all EU institutions and member states will be collectively bound
Workers at the Sullom Voe Terminal in Shetland have voted in favour of strike action. Unite the Union said 94% of those who took part in a ballot have “taken an emphatic stand” following a dispute with operator EnQuest over terms and conditions, including the pensions. John Bolan, Unite’s regional industrial officer, described EnQuest proposals
As coronavirus cases multiply worldwide, oilfield service companies are stepping up their internal safeguards to protect the health of employees and contractors onshore and offshore. Defending employees from exposure to the coronavirus in the close confines of an offshore vessel presents its own set of challenges. Subsea engineering and service provider Oceaneering has implemented a