Exxon accused Bonta, the Sierra Group and others of making “false accusations” about its advanced recycling process. Exxon said in a suit filed in federal court in Texas Monday that the process works and the claims have damaged its relationship with customers.
Oil and gas company Aker BP ASA has partnered with PXGEO Equipment Ltd., a geophysical service provider, to enhance its subsurface exploration and development activities. In a media release, Aker BP said it plans to maximize value creation and flow efficiency through a LEAN operations philosophy.
Halliburton said that the initial rollout of this service led to a 17 percent increase in stage efficiency. Based on the result, Coterra deployed the Octiv Auto Frac service to its remaining completion programs that Halliburton executes in the Permian Basin.
Veolia said then the power plant “plays a crucial role in regulating and balancing the Hungarian power grid, thanks to cutting-edge technologies that make its production capacities flexible”.
Drilling in the ANWR, the largest national wildlife refuge, was off-limits for decades and the subject of fierce political fights between environmentalists and Alaska’s political leaders, who have long supported development in the coastal plain.
Sanctions have become the main news in 2025 so far, with this week seeing a tightening of US sanctions against China as the Pentagon targeted state-backed oil and shipping firms. Rumors are circulating that the outgoing Biden administration will slap further sanctions on Russia and Iran, inadvertently lifting oil prices before Donald Trump takes office on January 20. For the time being, ICE Brent futures are hovering around $77 per barrel, with a potential spike above $80 per barrel becoming an increasingly likely outcome.
The Foreign Ministry in Chisinau said it “strongly refutes the dangerous disinformation spread by the embassy of the Russian Federation in the Republic of Moldova, which seeks to deflect responsibility for a crisis that Moscow itself has created.”
Oil and gas will remain crucial to the global energy mix for the foreseeable future despite the growth of renewables. Oil demand is expected to peak within the next decade, but projections indicate that more than half of today’s oil consumption – of around 105 million barrels per day – will persist until 2050. This enduring demand provides stability for NOCs, but they must navigate a market shaped by price volatility, geopolitical shifts and growing pressure to decarbonize.
Trump has called for opening up the UK North Sea to oil and gas and getting rid of windmills in response to the recent announcement by Texas-based Apache that it would cease oil and gas production in the region due to the uneconomical windfall tax.
“By the end of 1859 wells sprouted throughout the oil country,” writes the American Chemical Society (ACS). “In 1860 wells in northwestern Pennsylvania produced several hundred thousand barrels and by 1862 production reached three million barrels. The nation’s oil bonanza had begun, and huge fortunes would soon be made.”