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Oil Producer
Ugandas Ambitious Plan for Worlds Longest Heated Oil Pipeline Targets 2027 Launch Despite…
Uganda's contentious £4 billion heated oil pipeline project remains on track for a 2027 operational launch, despite facing significant delays attributed to environmental activism and financing challenges, according to the country's energy…
US Oil Sector Anticipates Regulatory Relief Under Trump Leadership
The American oil industry stands poised for significant changes as Donald Trump's electoral victory signals a potential wave of deregulation, though experts suggest production surges may remain constrained by Wall Street's demands for…
Azerbaijan Plans New Oil and Gas Expansion Despite Hosting UN Climate Summit COP29
The Azerbaijani state oil and gas enterprise is set to significantly boost its fossil fuel production whilst simultaneously serving as the host nation for the UN COP29 climate summit, according to fresh analysis.
Data examined by…
Deltic Energy Boosted by North Sea Gas Discovery as it Eyes International Expansion
Deltic Energy, the AIM-listed oil and gas explorer, received a major boost to its plans for international expansion with a significant new gas discovery in the UK North Sea. Coming on the heels of the UK government's latest budget, which…
BP abandons its target to reduce oil production
BP plans to abandon an ambitious goal to reduce its oil and natural gas production by the year 2020 as it fights to close a valuation difference with competitors in the energy sector.
Bernard Looney, the CEO of FTSE 100 Oil Company, set…
Treasury Pledges Low Carbon Investment Relief to Appease Oil and Gas Industry
The Treasury has moved to quell a heated dispute with the North Sea oil and gas industry by committing to maintain investment reliefs on low-carbon projects. This decision aims to safeguard jobs and mitigate the impact of the expanded…
Green flying will lead to higher prices. Can it takeoff?
Anthony Nolan, pointing to the royal warrant emblazoned on one of the 23 green-and white trucks at Olleco’s depot near Heathrow Airport, points out the procession of British Airways aircraft shaking the roof tiles.
The commercial…
SLB and Halliburton See Strong International Demand Amid Earnings Reports
SLB and Halliburton, two of the world’s leading oilfield service providers, reported strong international demand for crude drilling after posting earnings that met or exceeded expectations, supporting their shift into overseas markets.…
Labour faces legal challenges over its plan to ban all new North Sea licenses immediately
The Labor government faces a legal dilemma in its plans to ban new North Sea oil exploration and gas before the latest licensing round for the industry closes.
After sweeping to power with a pledge that it would end the granting of new…
BP says that global oil demand is expected to peak in 2025. This will bring an end to rising…
BP predicted that global carbon emissions will stop rising by mid-2020 due to a boom in wind and solar energy.
In its influential outlook report, the energy company found that oil consumption will rise by approximately 2m barrels per day…
The world’s largest oil company is betting on the power of petrol
Saudi Aramco, the world's biggest oil company, is betting that the internal combustion engines will last for "a very, very long time". The company sees a potential business opportunity in the growth of electric cars.
Last month, the…
Energy watchdog warns of a’staggering oil glut’ by the end of the decade
International Energy Agency warns that the world will face a "staggering surplus" of oil by the end decade. This is equivalent to millions of barrels per day as oil companies continue to increase production.
The IEA's annual report on…
New Zealand lifts oil drilling ban amid fears of blackouts, a blow to Starmer’s plan
On Saturday night, New Zealand's government was expected to lift a ban on oil and gas drilling amid fears of blackouts. Labour also plans to implement a similar crackdown in the North Sea.
The coalition government of the country is…
Weekly Industry Highlights: Key Updates in Oil, Gas, and Mining Sectors
The weekly highlights in both the oil and gas industry and the mining sector feature significant updates from various companies, shedding light on ongoing activities and advancements within these industries.
North Sea oil project delayed due to tax uncertainty ahead of election
Three oil and natural gas companies delayed making a decision about a new project in the North Sea, due to uncertainty regarding whether a possible Labour government would increase windfall tax penalties.
The Buchan project, worth £900…
ConocoPhillips buys Marathon Oil for $22.5 billion
ConocoPhillips agreed to purchase rival Marathon Oil, valuing the Houston-based firm at $22.5bn including debt. This is part of a wave that continues to sweep across the US oil patch.
Conoco, one of the largest independent oil and…
US oil giant pulls out of North Sea following industry meeting with Hunt
Chevron, the US oil giant, has announced that it will leave the North Sea after more than 55 years. This announcement comes just a day after Jeremy Hunt rejected industry requests for support in a private meeting.
Chevron announced that…
BP Reports Lower-Than-Expected Profits in First Quarter
London-listed oil major BP PLC recently announced its first-quarter financial results, which fell below market expectations. The company reported a profit of $2.72 billion, missing the forecasted $2.87 billion and significantly lower than…