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Exxon, Chevron begin pushing back against Warren’s fracing ban

Exxon, Chevron begin pushing back against Warren’s fracing ban

America’s two biggest oil companies are starting to push back against the fracing ban touted by the leading candidates. Capital & exploratory (C&E) expenditures of $19 to 22 billion from 2021 to 2023. Chevron U.S.A. Inc announced the launch of its 2018 Fuel program making up to $6 million. It may become one of the...

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DNV GL issues efficiency-minded recommended practices for subsea pumping systems

DNV GL issues efficiency-minded recommended practices for subsea pumping systems

A new DNV GL recommended practice has unlocked new opportunities for the oil and gas sector to deliver more cost-efficient. 43% of respondents put digitalization as a core part of their business strategy. Technical expertise helps fast-track Taiwan’s implementation of new offshore wind farms. It environmentally friendly subsea processing for improved hydrocarbons recovery. Singapore’s Maritime...

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Exxon’s former CEO says climate change ‘with us forever more’

Exxon’s former CEO says climate change ‘with us forever more’

Current or former leader of one of the world’s largest energy producers to testify under oath about climate change. It’s Continues status as a founding member for an additional five years. United Way of Beaumont and North Jefferson County to receive $200,000. That’s why a New York courtroom was packed on last Wednesday to see...

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Keystone pipeline shut after North Dakota spill

Keystone pipeline shut after North Dakota spill

The Keystone crude pipeline was shut on last Wednesday after leaking thousands of barrels of crude in North Dakota. The order by Donald Trump does not guarantee TransCanada will actually get Keystone XL built. The company expects to eventually rally enough commercial support. The third spill along the pipeline’s route in less than three years....

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Norwegian oil crews stigmatized in the “climate change” era

Norwegian oil crews stigmatized in the “climate change” era

Ole Lie, a drilling supervisor who’s worked for Norway’s oil giant Equinor ASA since the 1990s. The Norwegian offshore survey company EMGS has signed an $8 million multi-client contract. The feeling unloved as many are starting to turn their backs on an industry. Norwegian oil and gas giant Equinor slipped to a net loss in...

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BP invests in carbon-offset monetization firm

BP invests in carbon-offset monetization firm

BP Ventures has invested $5 million in Finite Resources Inc, parent company of Finite Carbon, a US-based forest carbon management company. BP recently announced a new joint venture with US agri-commodities company Bunge. Innovative enhanced recycling technology capable of processing PET plastic waste which currently goes unrecycled. The investment will enable Finite Carbon to grow...

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Marathon investors say shareholders back removal of CEO

Marathon investors say shareholders back removal of CEO

Two activist investors in Marathon Petroleum say there is now broad-based shareholder support for immediate changes. Company announced that it has completed three separate transactions. Company announced today that it sent an irrevocable notice of early redemption. Marathon Oil, through its wholly owned subsidiaries, is the operator and majority shareholder of the integrated gas. The...

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McDermott signs agreement for up to $1.7 billion of new financing

McDermott signs agreement for up to $1.7 billion of new financing

McDermott International announced that it has entered into an agreement with certain of its secured lenders. The scope will be performed by McDermott’s fabrication facility in Batam, Indonesia. McDermott’s Lummus Technology is the master licensor of multiple licensed units. The company will have access to up to $1.7 billion of additional financing, including letter of...

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Chevron wins 90-day Venezuela sanction waiver extension

Chevron wins 90-day Venezuela sanction waiver extension

The Trump administration extended Chevron’s waiver to operate in Venezuela, allowing the second-largest U.S. oil explorer. Company has established new goals to reduce net greenhouse gas (GHG) emission intensity. Chevron U.S.A. Inc. announced it will donate $500,000 to help support local public schools. Company announced the sanction of a waterflood project in the St. Malo...

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McDermott financing lifeline faces possible bondholder hurdle

McDermott financing lifeline faces possible bondholder hurdle

McDermott’s bondholders could make it difficult for the embattled energy-industry contractor. McDermott’s Lummus Technology is the master licensor of multiple licensed units. New facility underscores strong lender support for McDermott. The company said last week that it received an initial $550 million term loan. It awarded for FEED design competition by POSCO INTERNATIONAL Corporation. $100...