Category Oil & Gas Blog

Exxon Keeps Up $35 Billion Annual Spending Despite Oil Rout

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

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Russian Resistance Hammers Oil Prices, Pushing OPEC to Brink

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

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Arctic Oil Drilling Plan Coming Soon, U.S. Interior Chief Says

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

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John Bolan, Unite’s regional industrial officer, described EnQuest proposals as “brutal” and said a series of strike action dates will be announced “imminently”. Enquest took over the running of the oil and gas terminal from BP in December 2017. A company spokeswoman said they had been notified of the results of the ballot and added: “Although disappointed with the results, we fully respect the outcome of the ballot and will be seeking further immediate dialogue to resolve this dispute without the need for industrial action. “It remains the company’s preference that EnQuest and Unite find a mutually acceptable resolution to this dispute, but we are focussed on readying our business continuity provisions to minimise any potential disruption to our operations at Sullom Voe Terminal.” The company added that its provisions include “using external service providers” and redeploying staff from other assets of the company, should industrial action take place. Source: news.stv.tv

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

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Travel restrictions, crew screenings – Service Companies Ramp Up Coronavirus Responses

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

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