Crude oil prices moved lower today, after the U.S. Energy Information Administration reported a sizeable inventory build of 8.7 million barrels for the week to November 17.
The costs of decommissioning oil and gas platforms in the UK’s North Sea could overtake capital expenditure in the industry by 2040, a new report from Offshore Energies UK has suggested.
The Federal Government has warned gas producers to stop discouraging awardees in the gas flare commercialisation programme from embarking on the project
The top three emitters are Saudi Arabia’s Aramco, Russian government-owned Gazprom, the National Iranian Oil company, and the top investor-owned companies are ExxonMobil, Shell, BP and Chevron. The list also includes the company led by the president of this year’s international climate negotiations: the Abu Dhabi National Oil Company.
FPSO leasing specialist firm MODEC and drone firm Terra Drone have signed a Memorandum of Understanding for the technical development of inspection drones for floating production, storage, and offloading systems.
The energy sector is poised for a moderately lower start, pressured by low conviction weakness in the underlying commodities and in the broader equity futures. Equity sentiment steadied this morning following the recent run up in the benchmark indices as the markets assessed some disappointing retail results and looked ahead to the release of the Federal Reserve meeting minutes.
RM Parks Inc. California-based US fuel distribution company signed an agreement with the BOI with an investment of U$ 100 million. The company will serve the Sri Lankan petroleum sector, in collaboration with Shell Plc.
TotalEnergies has completed today the sale to Suncor of the entirety of the shares of TotalEnergies EP Canada Ltd., comprising notably its participation in the Fort Hills oil sands asset and associated midstream commitments. The consideration for the transaction is C$1.47 billion (about US$1.1 billion), with an effective date on April 1st, 2023. Including adjustments, TotalEnergies received a cash payment at closing of C$1.83 billion (about US$1.3 billion).
Fifty years after the Trans-Alaska Pipeline, U.S. energy independence is threatened by attacks on resource development projects.
Europe’s gas storage is full, but rising winter demand and Asian market competition could drive prices up.