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BP’s carbon-neutral pledge puts pressure on Exxon, Chevron

BP’s carbon-neutral pledge puts pressure on Exxon, Chevron

BP’s pledge to zero out all its carbon emissions by 2050 deepens the divide between major European and American oil producers on climate change. BP set a new ambition to become a net zero company by 2050 or sooner. BP, as operator and on behalf of co-venturer Shell, today announced encouraging early production from the...

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Oil snaps a five-day losing streak on possible OPEC+ cuts

Oil snaps a five-day losing streak on possible OPEC+ cuts

Oil reversed five days of losses as the potential for an OPEC+ production cut overshadowed an uptick in U.S. crude inventories. Oil headed for the biggest quarterly advance in seven years as falling US supply added to speculation the global surplus is easing. Iraq and Libya are the two countries most at risk of political...

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Pemex rejects Talos claim to majority of 670 MMboe Zama field

Pemex rejects Talos claim to majority of 670 MMboe Zama field

Mexico’s government-owned oil company just laid claim to most of the country’s biggest private discovery. Mexican President Andres Manuel Lopez Obrador said that the replacement of 10 executives at the Petroleos Mexicanos arm that sets. Petroleos Mexicanos will use a new $5 billion capital injection from the Mexican government. Company putting it on a collision...

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OPEC sees growing supply threat from rivals beyond U.S. shale

OPEC sees growing supply threat from rivals beyond U.S. shale

OPEC’s latest forecasts suggested a weaker outlook for global oil markets this year as surging supplies from competitors from Norway. They still committed to meeting in March to decide on future production policies. OPEC set to further lose market share in 2020. Brent gives up all gains made after Iranian general killed. Angolan output posts...

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Hedge fund that won big shorting U.S. shale is bullish on Canada

Hedge fund that won big shorting U.S. shale is bullish on Canada

After big wins shorting U.S. shale companies last year, one energy hedge fund is turning its sights on the beaten-down Canadian oil sector. The Taiwan Futures Exchange (TAIFEX) is set to provide real-time market data feed from 23 March 2020. Akram & Associates, a boutique Public Accounting Firm specialising in accounting, audit and tax services....

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TGS adds U.S. unconventional log databases from Petrophysical Solutions

TGS adds U.S. unconventional log databases from Petrophysical Solutions

TGS announced the purchase of all U.S. onshore petrophysical log database and associated intellectual property from Petrophysical Solutions, Inc. TGS announced the completion of a new multibeam and coring program covering over 213,0000 square kilometers. The Liberia Petroleum Regulatory Authority (LPRA) has announced the launch of the next licensing round, expected to commence in April...

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Russia’s energy minister says OPEC+ cuts can’t last forever

Russia’s energy minister says OPEC+ cuts can’t last forever

OPEC+ output cuts have stabilized the global oil market but can’t last forever. OPEC+ will adjust its output target and redistribute production cuts between its members under pressure. Oil production in the US has continued to expand and now stands at a record level of 12.9 million barrels a day. The uncertainty persists over the...

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Saudi Arabia, Kuwait agree to resume oil output at shared fields

Saudi Arabia, Kuwait agree to resume oil output at shared fields

Saudi Arabia and Kuwait agreed to resume oil production in a shared border region more than four years after halting output. Kuwait has said it is ready to host Yemen’s opposing factions for UN-sponsored talks. Former Kuwaiti lawmaker Walid Al Tabtabaie, convicted for storming parliament in 2011. The government submitted its resignation to Kuwait’s Emir...

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Analysts see few surprises in 2020 as OPEC+ cuts trim surplus

Analysts see few surprises in 2020 as OPEC+ cuts trim surplus

Oil prices are likely to remain in check during 2020 as OPEC+ production cuts are offset by higher output from other countries. Oil prices were little changed on last Monday as Russia said an OPEC-led producer group may consider easing output cuts next year. The Trump administration on last Thursday renewed a waiver for companies...

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Talos Energy to spend $640 million acquiring Gulf of Mexico acreage and prospects

Talos Energy to spend $640 million acquiring Gulf of Mexico acreage and prospects

Talos Energy has entered into a series of definitive agreements to acquire a broad portfolio of U.S. Gulf of Mexico producing assets. Company announced that the Company has entered into a series of definitive agreements to acquire a broad portfolio of U.S. Gulf of Mexico producing assets. Company announced its financial and operational results for...

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