Oil & Gas News


Oil Companies Sue Over Lease Changes Made to Protect Whales

Aug 24, 2023

An oil and gas industry trade group, the state of Louisiana and Chevron on Thursday sued the Biden administration over its decision to withdraw acreage from an upcoming oil and gas lease sale in the Gulf of Mexico to protect an endangered whale.The suit is the latest dispute between the oil and gas industry and the administration of President Joe Biden over leasing federal lands and waters for energy development…

Brazil to Reappoint Government Representatives to Petrobras Board - Sources

Feb 11, 2024

Brazil's government will reappoint its representatives to the board of state-run oil firm Petrobras, sources said on Friday, a sign energy minister Alexandre Silveira is maintaining his influence over an administration he has criticised.Silveira is in charge of Brazil's mining and energy ministry…

Exxon Raises Guyana's Oil Production

Feb 06, 2024

A consortium led by Exxon Mobil Corp which controls all oil production in Guyana is pumping about 645,000 barrels per day (bpd) in the South American country, up from about 400,000 bpd in late 2023, the U.S. producer said at a press conference on Tuesday…

What to Watch in '24: Global Exploration Outlook

Dec 27, 2023

Industry continues chasing big oil, key gas targets also on the radarGlobal exploration drilling is set for a boost in 2024 – we have line of sight on over 200 wells targeting over 30 bnboe of resource (unrisked). Several gas hotspots are on the industry agenda…

US Appeals Court Orders Gulf Lease Auction Within 37 Days

Nov 14, 2023

A U.S. appeals court on Tuesday ordered that a postponed federal auction of drilling rights in the Gulf of Mexico be held within 37 days, a setback for environmentalists seeking expanded protections for the endangered Rice's whale.According to court papers…

SLB Introduces Compact Methane Point Instrument

Oct 03, 2023

SLB’s End-to-end Emissions Solutions (SEES) business has introduced its next generation methane point instrument, a self-installed continuous methane monitoring system that uses IoT-enabled sensors to quickly and cost effectively detect, locate and quantify emissions across oil and gas operations…

California Sues Oil Giants

Sep 17, 2023

The state of California has sued major oil companies including Exxon Mobil, Shell PLC, and Chevron, accusing them of playing down the risks posed by fossil fuels, according to a court filing on Friday.The lawsuit, which also targets BP and ConocoPhillips…

Guyana Receives Bids for Eight Oil and Gas Blocks

Sep 13, 2023

Guyana on Wednesday received bids for eight of 14 offshore oil and gas exploration blocks offered in its first auction, including from groups formed by Exxon Mobil and TotalEnergies, according to the government and documents seen by Reuters…

Norway Oil and Gas Exploration Round Attracts Bids from 25 Companies

Aug 29, 2023

Norway's annual offshore exploration licensing round in mature areas attracted bids from 25 oil and gas firms, including Shell, ConocoPhillips, Aker BP and Equinor, the country's energy ministry said on Tuesday.In May, the ministry offered 92…

CNOOC, Petrobras Announce Strategic Cooperation Agreement

Aug 29, 2023

Chinese state-owned oil and gas giant CNOOC has signed a strategic cooperation agreement with Brazilian state oil firm Petrobras, Chinese government-backed media outlet The Paper reported on Tuesday, citing CNOOC.The agreement stated that the…

Exxon Says World Set to Fail 2°C Global Warming Cap by 2050

Aug 28, 2023

Oil and natural gas are still projected to meet more than half of the world’s energy needs in 2050, or 54%, Exxon Mobil Corp said on Monday, with the world failing to keep global temperature increases below 2 degrees Celsius.The largest U.S…

DeepOcean Awarded Riser Contract for Equinor’s Troll B

Aug 23, 2023

Ocean services provider DeepOcean has been awarded a contract by Equinor to support the Troll B – Increased Gas Export project, located in the northern part of the North Sea.Troll B is a floating processing and accommodation platform with a concrete substructure…

Equinor to Implement Heat Recovery at Statfjord C

Aug 22, 2023

Equinor and partners will replace two gas turbines with heat recovery to produce electric power at Statfjord C.A new steam turbine will produce electricity based on surplus heat from two gas compressors. This will make the energy consumption…

Oil and Gas Exploration Spending Expected to Recover from Historic Lows

Aug 16, 2023

Exploration spending (excluding appraisal) will recover from historic lows to an average of $22 billion per annum in real terms over the next five years, according to a new report from Wood Mackenzie.Tailwinds from attractive exploration economics…

BP Backs Green Hydrogen Start-Up

Aug 15, 2023

BP has invested in a start-up company developing technology seeking to use vapour from heavy industry to sharply reduce the production costs of zero-carbon hydrogen.BP Ventures, the British energy giant's venture capital arm, was among several investors in a $12…

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