Industry News

Norway Activity Level Remains High Despite Covid

1 August 2021, 9:33am
The activity level on the Norwegian continental shelf was high in the first six months of the year, despite the Covid-19 situation, the Norwegian Petroleum Directorate has revealed.
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Shell and Chevron Sanction GOM Project and More

31 July 2021, 6:43am
Here are some of Rigzone's top stories during the last week, just in case you missed them...
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Oil Prices Rose and Completed Fourth Consecutive Monthly Gain on Friday

30 July 2021, 7:51pm
Oil Prices finished up for the week ending July 30, 2021 and concluded a run of four consecutive positive months.
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TC Energy Corp Targets Military Site for New Project

30 July 2021, 5:58pm
The owner of Keystone Pipeline has struck a deal with Canada's Department of National Defence.
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Who Wins and Loses from Commodity Price Surge?

30 July 2021, 3:50pm
The world's recovery from the coronavirus pandemic has sent prices for energy, metals, and food soaring.
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In focus: The pursuit of low-carbon business prospects

30 July 2021, 2:31pm
This week’s focus was on making vessels greener, low-carbon strategies, green hydrogen, and building a sustainable future. The post In focus: The pursuit of low-carbon business prospects appeared... ...
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ExxonMobil and Chevron reverse losses amid higher oil prices

30 July 2021, 2:29pm
U.S. oil majors ExxonMobil and Chevron both returned to profit in the second quarter of the year driven by higher oil and gas prices. The post ExxonMobil and Chevron reverse losses amid higher oil... ...
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The number of producing U.S. coal mines fell in 2020

30 July 2021, 1:00pm
By the end of 2020, the number of producing coal mines in the United States fell to 551 mines, the lowest number since U.S. coal production peaked in 2008. In 2020, 40 coal mines were opened or reactivated, and 151 mines were idled or closed. This overall decrease resulted in an 18% annual decline in the total number of producing coal mines from 2019 and a 62% decline since 2008. Shutting down less efficient mines while adding relatively few new mines and reactivating few idled mines resulted in the reduction in 2020.
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Exxon Posts Highest Profit in More Than 2 Years

30 July 2021, 12:44pm
Exxon Mobil Corp. posted the highest profit in two years as prices for commodities and chemicals surged amid strong consumer demand for plastics.
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KCA Deutag Creates New Business Unit

30 July 2021, 12:17pm
KCA Deutag has announced the creation of a new business unit named Kenera.
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TotalEnergies and Apache Corp Make Oil Find

30 July 2021, 11:59am
TotalEnergies (NYSE: TTE) and Apache Corporation (NASDAQ: APA) have encountered oil in the Sapakara South-1 well on Block 58 off the coast of Suriname.
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Chevron Revives Buyback of Up to $3B

30 July 2021, 11:17am
Chevron Corp. is reviving share buybacks that were suspended more than a year ago.
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First oil flows from Petrofac’s Malaysian oilfield

30 July 2021, 10:30am
The Petrofac-operated East Cendor field in Block PM304 located offshore Peninsular Malaysia has achieved its first oil production. The post First oil flows from Petrofac’s Malaysian oilfield... ...
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Pharos wraps up 3D seismic survey offshore Vietnam, seeks drilling partner

30 July 2021, 10:22am
Pharos Energy has concluded a 3D seismic survey on the western part of Block 125 in the Phu Khanh Basin offshore Vietnam. The post Pharos wraps up 3D seismic survey offshore Vietnam, seeks drilling... ...
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Eni Delivers Exceptional Results

30 July 2021, 10:17am
Eni delivered exceptional results in the second quarter of the year, according to the company's chief executive officer.
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USA Vehicle Miles Quietly Eclipse Pre-Pandemic Levels

30 July 2021, 10:03am
An informed market watcher highlighted a significant milestone in demand this week, which is all the more noteworthy considering the continuation of certain Covid-19 related restrictions.
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Kent completes takeover of SNC-Lavalin’s oil and gas division

30 July 2021, 9:29am
Dubai-based energy services firm Kent has completed the acquisition of SNC-Lavalin's oil and gas division. The post Kent completes takeover of SNC-Lavalin’s oil and gas division appeared... ...
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Oil Trims Weekly Gain as Delta Lingers Over Market

30 July 2021, 8:06am
Oil declined, trimming a second weekly advance, as the latest Covid-19 comeback continued to cloud the short-term outlook ahead of the OPEC+ alliance adding more barrels to the market next month.
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Xodus in electrification study for Harbour’s North Sea assets

30 July 2021, 7:46am
Xodus is assessing the infrastructure and modifications required to enable electrification of Harbour Energy’s Central North Sea assets. The post Xodus in electrification study for Harbour’s... ...
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PetroRio granted royalty rate reduction for Brazilian field

30 July 2021, 7:02am
PetroRio has been granted a royalty rate reduction for the Tubarão Martelo field in an effort to incentivise investment in revitalization. The post PetroRio granted royalty rate reduction for... ...
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Subsea 7 installs pipeline bundle at Buzzard

30 July 2021, 6:58am
Subsea 7 has completed the installation of a five-kilometre pipeline bundle for the CNOOC Buzzard International Phase II (BPII) project. The post Subsea 7 installs pipeline bundle at Buzzard... ...
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Oil Increases as Signs of Demand Strength Continues

29 July 2021, 8:27pm
Oil rose the most in a week as investors see strong demand growth that should continue to whittle down oil supplies following positive signals from broader markets.
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Shell Hikes Dividend and Starts $2B Share Buyback

29 July 2021, 4:27pm
Royal Dutch Shell raised its dividend by almost 40 percent and said it will buy back $2 billion of shares.
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Total and Equinor Are Said to Exit Venezuela Oil JV

29 July 2021, 2:20pm
TotalEnergies and Equinor are exiting a key venture in Venezuela, adding to an exodus of foreign firms in recent years as the country's energy industry has withered.
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More red ink for Sembcorp Marine as Covid-19 disruptions linger

29 July 2021, 1:42pm
Sembcorp Marine saw its profit and revenues dip in 1H2021 due to project delays and increased costs caused by the Covid-19 disruptions. The post More red ink for Sembcorp Marine as Covid-19... ...
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Big Oil Shows Confidence That Big Profits Era Is Back

29 July 2021, 1:25pm
Europe's largest oil and gas companies showed confidence that the era of big profits is back by significantly boosting returns to shareholders.
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Suncor Cuts Fort Hills Oil Output Guidance

29 July 2021, 1:13pm
Suncor Energy Inc. cut its full-year production guidance at its Fort Hills oil sands mine.
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Chevron makes leadership changes in push for lower carbon strategy

29 July 2021, 1:08pm
Oil major Chevron has made leadership changes as it's working on its lower carbon strategy amid an ongoing energy transition. The post Chevron makes leadership changes in push for lower carbon... ...
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USA Refiners Miss Out on American Fuel Boom

29 July 2021, 12:27pm
Americans are burning through gasoline and diesel like Covid-19 never happened, but U.S. fuel refiners aren't cashing in as previously expected because of a confluence of headwinds.
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TotalEnergies Announces Amazon Partnership

29 July 2021, 12:02pm
TotalEnergies (NYSE: TTE) has announced a new strategic collaboration with Amazon (NASDAQ: AMZN).
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U.S. renewable diesel capacity could increase due to announced and developing projects

29 July 2021, 12:00pm
U.S. production capacity for renewable diesel could increase significantly through 2024, based on several announcements for projects that either are currently under construction or could be in development soon. This growth is driven by higher state and federal targets for renewable fuel, favorable tax credits, and the conversion of existing petroleum refineries into renewable diesel refineries.
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Transocean Awarded 2 Contracts in USA Gulf of Mexico

29 July 2021, 11:31am
Transocean (NYSE: RIG) has been awarded two contracts, which, on aggregate, contribute approximately $55.5 million in backlog.
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Renewables became the second-most prevalent U.S. electricity source in 2020

28 July 2021, 12:00pm
In 2020, renewable energy sources (including wind, hydroelectric, solar, biomass, and geothermal energy) generated a record 834 billion kilowatthours (kWh) of electricity, or about 21% of all the electricity generated in the United States. Only natural gas (1,617 billion kWh) produced more electricity than renewables in the United States in 2020. Renewables surpassed both nuclear (790 billion kWh) and coal (774 billion kWh) for the first time on record. This outcome in 2020 was due mostly to significantly less coal use in U.S. electricity generation and steadily increased use of wind and solar.
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U.S. liquefied natural gas exports grew to record highs in the first half of 2021

27 July 2021, 12:00pm
U.S. exports of liquefied natural gas (LNG) continued to grow in the first six months of 2021, averaging 9.6 billion cubic feet per day (Bcf/d). This average marks an increase of 42%, or 2.8 Bcf/d, compared with the same period in 2020 (according to the U.S. Department of Energy's LNG Monthly reports and our estimates for June 2021, based on shipping data from Bloomberg Finance L.P.). During the summer months of 2020, U.S. LNG exports fell to record lows, but they set consecutive record highs in November and December.
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In 2020, the United States produced the least CO2 emissions from energy in nearly 40 years

26 July 2021, 12:00pm
In 2020, as the country responded to the COVID-19 pandemic, CO2 emissions from energy consumption in the United States fell to the lowest level since 1983. The 4.6 billion metric tons (Bmt) of CO2 emitted in 2020 was an 11% decrease from 2019, the largest annual decrease on record, according to our Monthly Energy Review. Our new U.S. CO2 emissions from energy consumption by source and sector chart illustrates CO2 emissions by energy source and sector.
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