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IEA - Oil and gas industry in energy transitions
2020-05-02 17:11:41| Oil IT Journal - www.oilit.com
International Energy Authority's (pre-coronavirus) analysis of the oil and gas industry shows stranded assets and stranded capital if the COP 2° warming scenario is to be realized. Solutions to global warming 'cannot be found within today's oil and gas paradigm'. Carbon capture is a means of mitigating the risks of stranded assets and capital. But CCUS investment is low and decreasing. On the positive side (for the industry) the risk of a mid-term supply shock means that 'continued investment in existing oil fields, as well as some new ones, remains a necessary part of the energy transition'.
What the Oil Price Plunge Means for Oilfield Services M&A
2020-05-01 21:00:00| OGI
Offshore drillers and North American shale producers most challenged in terms of debt, says analyst.
US Drillers Cut Oil Rigs for Seventh Consecutive Week
2020-05-01 19:25:45| OGI
Drillers cut 53 oil rigs in the week to May 1, bringing down the total count to 325, the lowest since June 2016, energy services firm Baker Hughes Co. said in its weekly report.
Tags: week
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Exxon Mobil, Chevron Slam Brakes on Shale as Oil Demand Tumbles
2020-05-01 18:07:12| OGI
Both companies on May 1 outlined deep cuts in output and investments in the Permian shale basin.
Mnuchin Says US Could Store Another Several Hundred Million Barrels of Oil
2020-05-01 15:33:13| OGI
President Donald Trump on April 29 said his administration will soon release a plan to help U.S. oil companies, which Treasury Secretary Steven Mnuchin said could include adding millions of barrels of oil to already-teeming national reserves.
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