Industry News

ConocoPhillips Sells Australia-West Assets, Ops to Santos for $1.3B

29 May 2020, 12:06pm
Due to market volatility and deferring Barossa FID, the companies agreed to lower the initial upfront payment.
Read more... (source: www.rigzone.com)


June Could Bring Crude Oversupply Reversal

29 May 2020, 12:06pm
Check out this review of the most viewed downstream-related Rigzone articles from the past week.
Read more... (source: www.rigzone.com)


The recent decline in light-duty vehicle sales has affected cars more than light trucks

29 May 2020, 12:00pm
The 729,000 vehicles sold in the United States in April 2020 amounted to the lowest total since early 2010. The seasonally adjusted annual rate (SAAR) of light-duty vehicle sales in April is the lowest in the U.S. Bureau of Economic Analysis data series that dates back to 1976. Car sales have fallen by a larger percentage than light truck sales: in April, car sales were down 59% from the previous April, and light truck sales were down 42%. These changes in the makeup of vehicle sales have implications for fuel economy because cars tend to use less fuel per mile traveled than light trucks.
Read more... (source: www.eia.gov)


MRC Global's CEO to Retire in 2021

29 May 2020, 11:27am
The board of directors will begin a CEO selection process this year.
Read more... (source: www.rigzone.com)


KBR Wins Study for Australia LNG Facility

29 May 2020, 11:26am
Santos Ltd. has awarded KBR, Inc. an energy efficiency opportunities study at the Gladstone LNG liquefaction facility.
Read more... (source: www.rigzone.com)


Suttles to Take on Additional Role at Ovintiv

29 May 2020, 11:26am
Ovintiv CEO Doug Suttles will assume the responsibilities of president upon the retirement of Michael McAllister.
Read more... (source: www.rigzone.com)


BP America Names New Chairman, President

29 May 2020, 11:08am
Susan Dio, a 36-year veteran of the company, will retire later this year.
Read more... (source: www.rigzone.com)


Study Shows New Offshore Canada Oil Presence

29 May 2020, 11:08am
A detailed evaluation of the Southern Grand Banks petroleum system offshore Atlantic Canada has identified a new oil presence, Applied Petroleum Technology reported.
Read more... (source: www.rigzone.com)


Oxy Faces Investor Lawsuit Over Anadarko Acquisition

29 May 2020, 11:07am
Investors claim they lost billions when Oxy overleveraged itself after its Anadarko acquisition.
Read more... (source: www.rigzone.com)


Apache Listing Solely on Nasdaq

29 May 2020, 10:59am
Apache Corporation has revealed that it will list its common stock solely on the Nasdaq Stock Market from June 9.
Read more... (source: www.rigzone.com)


Chevron plans to reduce workforce by up to 15 per cent this year

29 May 2020, 10:35am

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EIA: U.S. LNG feedgas deliveries lowest since October 2019

29 May 2020, 10:30am

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More Industry Job Cuts Coming

29 May 2020, 10:16am
Here are some of Rigzone's top stories during the last week, just in case you missed them...
Read more... (source: www.rigzone.com)


DEME Offshore gets on board PosHYdon project

29 May 2020, 9:29am

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Wintershall Dea: Hydrogen from natural gas instrumental in decarbonisation of energy

29 May 2020, 9:22am

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Go-ahead for Neptune to use Deepsea Yantai rig for Gjøa production drilling

29 May 2020, 9:12am

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IEA Expects Biggest Ever Drop in Energy Investment

29 May 2020, 8:56am
The pandemic has set in motion the largest drop in global energy investment in history, according to the IEA.
Read more... (source: www.rigzone.com)


China Tensions Risk $52B in US Energy Sales

29 May 2020, 8:34am
China is already lagging behind its promise to buy $52 billion worth of U.S. oil, gas and other energy products.
Read more... (source: www.rigzone.com)


Oil Trims Biggest Monthly Gain on US-China Anxiety

29 May 2020, 8:25am
Oil trimmed its biggest monthly advance on record as crude was swept up in the broader negative sentiment around deteriorating U.S.-China relations.
Read more... (source: www.rigzone.com)


Aker BP taps into new Optime Subsea technology

29 May 2020, 8:08am

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Norway shows lowest and Canada highest upstream carbon footprint, Rystad says

29 May 2020, 7:46am

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Melbana granted extra time for Beehive work obligations

29 May 2020, 7:25am

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Oil Rallies on Demand Recovery, Output Cuts

28 May 2020, 7:58pm
Investors looked past an increase in US crude stockpiles to focus on tentative signs of a recovery in fuel demand.
Read more... (source: www.rigzone.com)


Equinor to restart Hammerfest LNG plant on June 18

28 May 2020, 1:11pm

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U.S. renewable energy consumption surpasses coal for the first time in over 130 years

28 May 2020, 1:00pm
In 2019, U.S. annual energy consumption from renewable sources exceeded coal consumption for the first time since before 1885, according to the U.S. Energy Information Administration's (EIA) Monthly Energy Review. This outcome mainly reflects the continued decline in the amount of coal used for electricity generation over the past decade as well as growth in renewable energy, mostly from wind and solar. Compared with 2018, coal consumption in the United States decreased nearly 15%, and total renewable energy consumption grew by 1%.
Read more... (source: www.eia.gov)


Aker BP gains consent to use Maersk Invincible rig on Valhall field

28 May 2020, 12:14pm

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Survey Tracks Health of Energy Transition Amid COVID-19

28 May 2020, 11:24am
Despite the upheaval from COVID-19, energy and industrial leaders will likely continue to commit their companies to decarbonization programs, according to Deloitte.
Read more... (source: www.rigzone.com)


Subsea 7 Expects to Slash Around 3,000 Jobs

28 May 2020, 11:16am
Subsea 7 expects to slash around 3,000 people from its global workforce of 12,000 by the end of the second quarter of next year.
Read more... (source: www.rigzone.com)


Gastech Postponed

28 May 2020, 10:20am
Gastech has been postponed to next year due to concerns around the global pandemic.
Read more... (source: www.rigzone.com)


UKCS Gas Creates Under Half the GG of Imported LNG

28 May 2020, 9:03am
The production of natural gas from the UK Continental Shelf creates less than half as much greenhouse gas as imported Liquefied Natural Gas, according to the OGA.
Read more... (source: www.rigzone.com)


Pandemic Will Hasten Demise of Many Oil Refineries

28 May 2020, 8:46am
Who needs a loss-making, inflexible oil refinery in a world where demand for petroleum has been obliterated?
Read more... (source: www.rigzone.com)


Oil Down on Signs US Stockpiles Swelled

28 May 2020, 8:35am
Oil extended its drop to trade near $32 a barrel after a U.S. industry report signaled crude inventories swelled for the first time in three weeks.
Read more... (source: www.rigzone.com)


North American crude oil prices are closely, but not perfectly, connected

27 May 2020, 1:00pm
The New York Mercantile Exchange (NYMEX) front-month futures contract for West Texas Intermediate (WTI), the most heavily used crude oil price benchmark in North America, saw its largest and swiftest decline ever on April 20, 2020, dropping as low as -$40.32 per barrel (b) during intraday trading before closing at -$37.63/b. Prices have since recovered, and even though the market event proved short-lived, the incident is useful for highlighting the interconnectedness of the wider North American crude oil market.
Read more... (source: www.eia.gov)


EIA forecasts lower U.S. natural gas consumption in 2020

26 May 2020, 12:00pm
In the latest Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts that decreases in natural gas consumption in the United States in 2020 will be driven by declines in natural gas used in the industrial, commercial, and residential sectors. In the U.S. electric power sector, EIA forecasts natural gas consumption to decline in the second half of 2020 after growing in the first half of the year.
Read more... (source: www.eia.gov)


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