Industry Trends
News
August 12, 2022
Oil & Natural Gas Corp.’s profit beat estimates to rise more than three times after oil prices surged in the wake of Russia’s invasion of Ukraine and an increase in local gas prices.
News
August 12, 2022
The World Oil judging team selected finalists for each of the 18 categories from a pool of 303 nominations. The winners will be announced at the 2022 World Oil Awards ceremony on Oct. 13 in Houston, Texas.
News
August 12, 2022
As the race to number 10 accelerates, Offshore Energies UK has written open letters to Rishi Sunak and Liz Truss asking them to help consumers over the short and long term by ensuring the next cabinet prioritizes reliable and cleaner energy produced in the UK.
News
August 10, 2022
The American Petroleum Institute announced a new initiative designed to attract more veterans and transitioning service members into meaningful and well-paying careers in the natural gas and oil industry.
News
August 05, 2022
Employment in the U.S. oilfield services, and equipment sector rose by an estimated 7,131 jobs to 643,092 in July, according to preliminary data from the Bureau of Labor Statistics and analysis by the Energy Workforce & Technology Council.
News
August 04, 2022
As oil prices continue to linger around the $100-plus/bbl price, mergers and acquisitions in the sector have been pushed to a three-year high, as well as private equity deals that may experience a record year.
News
August 02, 2022
Quarterly and annual results only give you a snapshot showing what has been happening in recent months, so they do not tell you much about longer-term trends, said Will Webster, energy policy manager at Offshore Energies UK.
News
August 01, 2022
Baker Hughes agreed to sell its Oilfield Services business in Russia to its local management team, and the business will operate independently going forward, the company announced.
News
July 29, 2022
As the U.S. experiences two straight quarters of negative GDP growth, which meets the common definition of recession, Railroad Commission of Texas Chairman Wayne Christian said high taxes, unnecessary regulations, and irresponsible deficit spending is what caused the mess we are in.
News
July 27, 2022
Baker Hughes has announced it is acquiring AccessESP, a provider of advanced technology for artificial lift solutions, to further transform core oil and gas operations by reducing costs and downtime for operators.
News
July 22, 2022
Schlumberger said annual sales will rise the most in 11 years as concern over inadequate energy supplies outweighs recessionary fears among major oil explorers.
News
July 22, 2022
Russia’s President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman discussed continued cooperation within OPEC+ in a phone call, according to a statement from the Kremlin.
News
July 21, 2022
Oil majors that want to reduce their carbon footprint will have to shift their activities to energy basins where drilling rigs can be powered by renewables and which have ample space for carbon sequestration, a report indicates.
Article
July 2022
On June 30, 2022, the U.S. Supreme Court ruling in the case of West Virginia vs. the EPA caused a panic amongst anti-oil activists. Some consider this the beginning of an ESG rollback, but I believe this is an overreaction.
Article
July 2022
We refer to things like poor, deliberately counterproductive energy policies in some countries; a lack of manpower resources from which to draw more technical talent; supply chain problems; shortages of certain raw materials; and inflationary costs for just about everything. Yet the pace of new technology development remains strong.
News
July 20, 2022
The world’s biggest provider of fracing services is banking on a “multi-year upcycle” outside of its North American base, according to a statement.
Article
July 2022
Faced with oppressively high prices at the pump and escalating energy costs that negatively impact our daily lives, one must wonder: what can be done to rectify this situation?
Article
July 2022
Although the call for significant change and transformation of the oil and gas industry was underway prior to the Covid-19 outbreak, the drive to develop new technology to increase efficiency, lower costs and reduce GHG emissions was accelerated by the pandemic.
Article
July 2022
Despite rising interest rates and fear of economic recession, crude prices climbed in July, as the war in Ukraine continued to restrict Russian supply. WTI surged 4.8%, hitting $114.84/bbl, with Brent trading at $122.71/bbl, up 8.3% compared to May.
News
July 19, 2022
Nigeria’s state-owned energy firm will now operate as a commercial entity without relying on government funding and direct controls, President Muhammadu Buhari said on Tuesday.
News
July 19, 2022
The inauguration of the Nigerian National Petroleum Company Limited initiates a monumental shift in active engagement, accountability and value that is expected to reshape Nigeria’s petroleum industry, while simultaneously acting as a model for other National Oil Companies on the continent.
