BP now says it will reduce its oil and gas production by 40 percent by 2030 as part of its pivot to low-carbon operations. But many will wonder why natural gas–the bridge between our fossil fuel present and renewable energy future–is being included on the chopping block. Despite its much lower emissions footprint, natural gas […]
The Trump administration is seeking to ease more rules for oil and gas drilling that were adopted under the Obama administration. The latest changes are projected to save energy companies more than $130 million over the next decade. The U.S. Bureau of Land Management proposal would streamline requirements for measuring and reporting oil and gas […]
The worst of the shock to oil markets and economies stemming from the COVID-19 pandemic is already behind us, the top executive of one of the largest commercial banks in Qatar told Bloomberg TV in an interview on Wednesday as the Middle East countries are reeling from the double shock of the coronavirus and oil […]
The oilfield has historically been a place where brawny men, and mighty machines came together to bore holes deeply into the earth to wrest stores of oil and gas from the depths. This model, which developed over many decades of exploration and production activity carried huge costs, particularly as the focus of this activity moved […]
North Dakota produces more crude oil per capita than other any large oil-producing state in the country, including nearly 10 times more than Texas. So on Friday, when the state released new oil production data for May, it hurt. Between January and May North Dakota’s crude oil production plummeted 40%, according to data released late […]
In industries where data is key to gaining competitive advantage, artificial intelligence and machine learning have become necessities. This is most definitely the case in the oil and gas industries that ebb and flow over time as market demand waxes and wanes for critical resources we’ve come to depend on. In a recent AI Today […]
Italian major Eni plans to exit traditional refining activities within the next decade as it is focused on bio-refineries and accelerating its transition to low-carbon energy, chief executive Claudio Descalzi told Bloomberg in an interview. The top executive spoke a month after Eni announced in June a “new business structure to be a leader in […]
In retrospect, it’s impressive that it lasted as long as it did. Four months after OPEC cobbled together a record production cut to offset the demand destruction unleashed by the COVID-19 lockdowns, R-OPEC+ (i.e., OPEC plus Russia and a bunch of non-OPEC exporters) is set to slowly resume pumping more after an alliance of producers […]
Last month, OPEC and its non-OPEC allies, known as OPEC+, agreed to extend their deep production cuts through July in an effort to rebalance oversupplied markets in the face of pandemic-hit demand. The cuts were supposed to take ~10% off the markets with July’s cut clocking in at 9.6 million bpd. But now there are […]
For defence and prevention, cybersecurity in the time of Covid has involved contracts with software companies and considerations in planning. For mitigation and eliminating risk, this has come back to the insurance industry. Insurers have changed their policies to encompass cyber threats, but now BRIT Insurance is offering an individual cyber-insurance policy. James Bright, senior […]
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