China, by contrast, has successfully integrated its EV strategy, leveraging state-backed initiatives, subsidies, and a robust supply chain to dominate the market. More than half of new cars sold in China are now EVs or plug-in hybrids, aided by competitive pricing and innovative in-car technology.
Litigation at court from environmental groups, a contractor bankruptcy, and President Joe Biden’s permit pause have combined to increase uncertainty for U.S. LNG project developers and exporters this decade.
Morgan Stanley expects Brent Crude prices to average $70 per barrel in the second half of 2025, up from a $66-$68 a barrel range expected previously, after OPEC+ delayed the beginning of its production increase and slowed the pace of the output hikes into 2026.
With Equinor’s endorsement, the Incremental Production Decree also aligns with broader strategies to extend the lifecycle of assets and maximize value. Koch added, “The new fiscal terms can work as a catalyst in our strategy to extend the longevity of our production outside Norway, while securing value for decades to come for our partnerships and the Angolan society.”
Aramco has signed a shareholders’ agreement with Linde and SLB, paving the way for development of a Carbon Capture and Storage (CCS) hub that is expected to become one of the largest globally. Under the terms of the shareholders’ agreement Aramco will take a 60% equity interest in the CCS hub, with Linde and SLB each owning a 20% stake.
Nigerian regulators approved the transaction in November after months of delay. It was completed through Project Odinmim, a special purpose vehicle owned by Chappal, at an undisclosed sum.
Rahul Dhir was on July 1, 2020 appointed as Chief Executive Officer of Tullow Oil, taking over from Dorothy Thompson . Before his appointment, he was CEO OF Delonex Energy, an African focused Oil and Gas Company.
The change compared with a build of 1.23 million barrels for the week, as estimated by the American Petroleum Institute a day earlier. It also compared with an EIA-estimated draw of 1.8 million barrels for the prior week.
The upstream oil and gas sector stands on the cusp of entering a new investment cycle — one that Rystad Energy has dubbed the ‘deliver in uncertainty’ cycle — where there is set to be an increased focus among players to deliver on sustainability targets while remaining financially robust.
Gas prices have declined amid forecasts of milder weather in mid-December, following a brief cold spell that had driven earlier gains. Utilities have stopped drawing heavily from storage, despite colder-than-usual weather recently boosting consumption. Meanwhile, U.S. gas production clocked in at a robust 101.5 billion cubic feet per day in November, but below last year’s peak of 105.3 bcfd. In contrast, European natural gas futures climbed to €48.7 per megawatt-hour, close to their one-year high, as colder weather is forecast to spread across the continent, increasing heating demand.