Industry & Analysis
Article
May 2023
Despite reasonable oil price levels, U.S. upstream activity is being restrained by inflated equipment/supply costs, residual lags in the supply chain, and, perhaps most of all, manpower issues.
News
May 16, 2023
Order books for the IPO, which could raise as much as $607 million at the top end, were covered throughout the range and indicated demand exceeded deal size, according to a message to investors seen by Bloomberg News.
News
May 16, 2023
Deliveries into the emergency government stockpile are planned for August, with awards to be announced in June, the Energy Department said in its solicitation Monday.
News
May 11, 2023
The main driver of April’s dip was industrial action by Exxon employees that began on April 13 and caused the U.S. major to declare force majeure across its operations.
News
May 11, 2023
According to a co-published report, the stand-out consideration within the awkward ESG troika is governance (G). ‘E’ and ‘S’ create both risks and opportunities for organizations and those that invest in, or work for, them, while ‘G’ issues get to the heart of how opportunities are identified and risks are managed.
News
May 11, 2023
Scale-up companies specializing in carbon capture utilization and storage (CCUS), new energies, oil and gas emissions reduction, digital applications and advanced materials for decarbonization, and nature-based solutions are encouraged to apply.
News
May 10, 2023
“It makes absolutely no sense to not invest in the resources we have here at home, to import foreign fossil fuels, not create jobs here and import them at twice the carbon emissions as our local resources,” Prime Minister Sunak told lawmakers in weekly questions in the House of Commons on Wednesday.
News
May 09, 2023
Neptune’s industry-leading rating of 21.4 was awarded in recognition of its enhanced disclosure and performance across a range of areas including greenhouse gas risk management, equality, diversity and inclusion and community involvement.
News
May 09, 2023
“I’m not that worried about the very, very short term,” Suhail Al Mazrouei, the energy minister for the United Arab Emirates, told reporters in Abu Dhabi Tuesday. “Let’s wait. This is not a prediction that I can give now or a decision, this is a collective decision,” on whether further OPEC+ supply adjustments are needed, he said.
News
May 05, 2023
Back in 1973, Norwegian companies and personnel first participated in, and exhibited at, the Offshore Technology Conference (OTC) in Houston. And ever since, the Norwegian pavilion has been a fixture at OTC, as the nation’s companies have contributed mightily to the proliferation and sophistication of offshore upstream technology.
News
May 05, 2023
The April increase continues to bring the sector closer to pre-pandemic numbers of 706,528 in February 2020. Overall, U.S. employers added 253,000 jobs, the best gain since January and much higher than the 165,000 jobs added in March.
News
May 04, 2023
The acquisition of this business is part of the Motion business area’s profitable growth strategy. It strengthens ABB’s position as a leading industrial NEMA motor manufacturer, and it provides an even stronger platform from which ABB can better serve its global customers.
News
May 04, 2023
Late last year, the Texas House put forth their goals and priorities for consideration during the upcoming legislative session. Included among those priorities was House Interim charge #3, which directed the House to examine ways to increase the production of oil and gas and review state regulations that could directly impact the exploration or production of oil and gas and make recommendations for increasing Texas' energy independence.
News
May 04, 2023
WTI Midland joined the Dated Brent benchmark on Tuesday, in an effort to revamp a gauge that is used to set the price of more than two-thirds of the world’s crude. So far, that integration has proved successful.
News
May 03, 2023
During his thoughtful speech, Dr. Tinker highlighted three themes: 1) energy is vital for human advancement; 2) all forms of energy, including renewables, have pros and cons; and 3) energy security requires optionality.
News
May 03, 2023
Increased natural gas use is the leading cause of reductions in U.S. power sector emissions, and natural gas plays a critical role in maintaining grid reliability while complementing rising renewable energy generation. Between 2005-2021, about 60% of power-related CO2 emissions reductions came from fuel switching to natural gas.
News
May 01, 2023
Spaceports are marine or offshore assets that conduct spacecraft launch or recovery. The ABS Requirements for Building and Classing Offshore Spaceports addresses several vessel types including barge type units, column-stabilized, offshore installations and self-elevating units.
News
May 01, 2023
“European gas stocks are full and, even though the global economy has restarted, demand is not at the maximum levels because China hasn’t yet restarted activity at full speed, said Claudio Descalzi, CEO of Eni Spa.
News
April 29, 2023
As dealmaking starts to heat up in the industry, Pioneer, one of the dominant independent explorers in the prolific Permian Basin, will have a “high bar” to make acquisitions, Rich Dealy said in an interview with Bloomberg Television.
News
April 29, 2023
Exxon can afford to be choosy because of its “industry leading line up of organic opportunities,” Mikells said.
News
April 28, 2023
Upstream (exploration and production) jobs increased over the year by 20,000—or 11.2%. Since an industry low point because of COVID in September 2020, upstream employment has grown by a factor of 26 to 4 and has had an average growth of 1,390 jobs per month.
