Industry Trends

News
November 08, 2022
It became clear from speakers at last week's IADC meeting that publicly held operators continue to utilize technology to improve their efficiencies and bottom lines while pursuing careful paths toward E&P expansion, keeping a close eye on shareholder returns.
News
November 08, 2022
Senior executives from the most active majors and independents in the Gulf of Mexico will convene to discuss regional operations and outlook at next week's Deepwater Executive Summit in Houston.
News
November 08, 2022
The United States cut its forecast for the nation’s oil production growth next year, predicting that output will fall short of an all-time high.
News
November 08, 2022
Many of the world's oil refineries are rushing to secure supplies of Middle East crude for next year as nearly all European Union countries will be barred from purchasing seaborne cargoes from Russia within a month.
News
November 07, 2022
Global oil demand in 2023 will grow a million barrels per day lower than organizations such as the International Energy Agency and OPEC have forecast, according to a new report from Enverus Intelligence Research.
News
November 04, 2022
Employment in the U.S. oilfield services and equipment sector rose by an estimated 124 jobs in October to 640,282 — the highest since September 2021 — according to preliminary data from the Bureau of Labor Statistics
News
November 04, 2022
Unemployment in the U.S. oil industry plummeted to one of the lowest levels on record at 0.8% for October as shale explorers scramble for workers to keep production flowing.
News
November 04, 2022
The Czech Republic imposed its first windfall tax on some of the biggest businesses to help finance energy subsidies without boosting government borrowing. The 60% "surcharge" will be in place for three years.
News
November 03, 2022
As the International Association of Drilling Contractors gathered in New Orleans on Thursday, the drilling VP of the Permian Basin's largest operator described ongoing industry headwinds despite "good times."
News
November 03, 2022
Natural gas use is surging in Spain, offering an insight into the possible unintended consequences of capping fuel prices to shield the country’s households and businesses from the energy crisis.
News
November 03, 2022
US oil-supply growth is being hindered by “rapidly escalating” equipment costs and supply-chain snags, ConocoPhillips CEO Ryan Lance said Thursday.
News
November 03, 2022
The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) announced five successful bids of $238 million for offshore parcels in the Eastern Newfoundland Region by Canadian units of BP, ExxonMobil and Equinor. No bids were received for the South Eastern Newfoundland Region
News
November 02, 2022
President Joe Biden’s threat to slap a tax on oil-company profits is more bluster than threat as the clock runs out on the administration’s efforts to tame fuel prices ahead of midterm elections.
News
November 02, 2022
WASHINGTON – The American Petroleum Institute (API) on Wednesday published a first-edition document focused on species and habitat conservation for onshore natural gas and oil production facilities that will help boost the industry’s existing practices to enhance environmental performance.
News
November 01, 2022
“Once again, the Biden Administration is calling for punitive actions against the oil and gas industry for political purposes instead of working with the energy industry to produce real solutions for our nation’s energy security," Energy Workforce CEO Leslie Beyer said in response to President Biden's latest remarks on gas prices.
News
October 31, 2022
An excess of supply in the oil market was the main reason for OPEC+ opting to cut production in October, according to the group’s secretary-general.
News
October 31, 2022
Ahmed Al Jaber, chief executive of Abu Dhabi National Oil Company (ADNOC), called for maximum energy with minimum emissions to ensure global energy security in his opening address at the 38th edition of the Abu Dhabi International Petroleum Exhibition Conference (ADIPEC).
News
October 17, 2022
BP Plc agreed to acquire biogas producer Archaea Energy Inc. for about $4.1 billion including debt, the latest step in the UK energy giant’s expansion into lower-carbon fuels.
News
October 17, 2022
Billionaire wildcatter Harold Hamm boosted his offer for the Continental Resources Inc. stock his family doesn’t already own to $4.3 billion as he seeks “freedom to invest” and buck the disciplined-spending mantra adopted by rival shale drillers.
News
October 11, 2022
Exxon Mobil Corp. is considering a takeover of Denbury Inc., an oil and gas producer with the largest carbon dioxide pipeline network in the U.S., according to people familiar with the matter.
News
October 07, 2022
The job market in the U.S. shale patch is showing further tightness as drillers struggle to find enough workers to meet output targets this year, according to a Labor Department report released Friday.
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