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CAPP: A strong offshore oil and natural gas industry benefits all of Canada

CAPP: A strong offshore oil and natural gas industry benefits all of Canada

Newfoundland and Labrador has an opportunity to become one of the most competitive offshore oil and natural gas industries in the world. The Canadian Association of Petroleum Producers (CAPP) would like to congratulate Jason Kenney. Canada can achieve significant domestic and global benefits if company resolve current market access challenges. Alberta has an opportunity to...

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Strong oil & gas sectors benefits Colorado with $1 billion revenue

Strong oil & gas sectors benefits Colorado with $1 billion revenue

A study on the economic impact from Colorado’s oil and gas upstream. Colorado’s attorney general testified has occurred on last week. Colorado left little doubt that it harbored hostility toward religious people like Jack. Colorado’s congressional leaders responded to the news about the Department of Justice’s. Colorado’s Democratic-controlled state Senate advanced a bill late on...

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OPEC strategy still a winner for members despite oil slump

OPEC strategy still a winner for members despite oil slump

A meeting of the world’s biggest oil producers is shaping up to be a contentious event. OPEC’s commitment to market stability was clear from our two-day Ministerial Conference, which ended in Vienna. OPEC’s strategy to stabilize the market might look a bust. OPEC and other exporters including Russia appear poised to ease voluntary production limits. As...

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Venezuela taps obscure driller to replace big-name oil firms

Venezuela taps obscure driller to replace big-name oil firms

An agreement with US-based Erepla Services, created in 2018, to boost production at the Tia Juana and Rosa Mediano fields. Schlumberger and Halliburton announced over $2 billion in combined write-offs for unpaid bills in Venezuela since the second quarter of 2017. Erepla will supply rigs and crews in the onshore fields for 25 years. Short-term...

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ADNOC CEO says oil and gas industry a critical enabler of economic growth in 4th industrial age in ADIPEC keynote address

ADNOC CEO says oil and gas industry a critical enabler of economic growth in 4th industrial age in ADIPEC keynote address

Saudi Arabian Oil Company (Saudi Aramco) today signed two separate Memorandums of Understanding with Abu Dhabi National Oil Company (ADNOC) and with Masdar, Abu Dhabi’s renewable energy Company, covering energy and technology collaboration, renewables, and carbon management. The global oil and gas will be a critical enabler of economic growth in the 4th Industrial Age,...

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With Trump’s Iran hammer about to fall, who may seek a waiver?

With Trump’s Iran hammer about to fall, who may seek a waiver?

The last time the U.S. imposed similar sanctions, during the Obama administration, China, Japan, South Korea, Turkey, Taiwan and India won exemptions. President Donald Trump’s administration announced that it would reinstate sanctions on Tehran after it withdrew from the Iran deal. Iran has responded with military threats, but backed it up with very little real...

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Colombia plans Mexico-style oil hedge after recent volatility

Colombia plans Mexico-style oil hedge after recent volatility

Mexico pocketed a record payout of $6.4 billion after crude prices crashed. For next year, the country has already spent $1.2 billion on hedging. Oil capped its worst month in more than two years as concerns mount that the global economy will slow down. Colombia is planning to hedge its oil exports to protect the...

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Halliburton releases first fluid efficient, dissolvable frac plug

Halliburton releases first fluid efficient, dissolvable frac plug

Halliburton, founded in 1919 is one of the world’s largest providers of products and services to the energy industry. With over 50,000 employees, representing 140 nationalities in approximately 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir from locating hydrocarbons and managing geological data, to drilling and formation evaluation,...

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OPEC should boost crude production at next meeting, the IEA says

OPEC should boost crude production at next meeting, the IEA says

OPEC and its allies appear to have accomplished their mission of reducing global oil stocks to desired levels, the International Energy Agency said on Friday, signalling that the market could become too tight if supply remains restrained. OPEC must decide to boost oil output at its next meeting to “comfort” a tightening market, said the...

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Oil slump highlights anxiety over weak emerging markets in 2019

Oil slump highlights anxiety over weak emerging markets in 2019

Traders have pointed to a broader selloff in equity markets as putting pressure on oil prices, spurring concerns about sluggish global economic growth. For emerging markets, that’s especially painful. Just weeks after oil traders were touting $100/bbl, those predictions now seem a distant memory. Oil benchmarks weakened a second week running as concerns over supply...