Oil & Gas

There’s a disconnect in the energy market, and it could lead to future supply shortages, Daniel Yergin, vice chairman of IHS Markit, told CNBC. International oil companies are under pressure to cut investments in traditional energy production at a time when demand for oil is growing — and that’s leading to a “preemptive underinvestment” in
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The Center for Offshore Safety (COS) has announced the winners of the 2021 Safety Leadership Awards: Baker Hughes and Shell Offshore Inc. Baker Hughes was recognized for its Time 2 Refocus – mindfulness techniques program, which is said to have been developed to enhance situational awareness when preforming routine tasks. The program was implemented using
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Heidi Gutman | CNBC Projections for oil prices to hit $100 per barrel overlook key questions over the future of demand, according to Mohamed El-Erian, chief economic advisor at Allianz and chair of Gramercy Fund Management. Both international benchmark Brent crude and U.S. crude prices have spiked above $80 in recent weeks as post-pandemic demand
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Oil logged its biggest weekly drop since August as Europe’s worsening Covid-19 crisis renewed the prospect of lockdowns just as key consuming nations look to add emergency supply to the market.  West Texas Intermediate for January delivery tumbled 3.2%, while the expiring December contract lost 3.7%. Europe’s Brent skidded 2.9%. The wave of infections in
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President Joe Biden is working hard to do something about the sky-high gasoline prices facing Americans. But it’s already too late to lower costs for travel over Thanksgiving. All eyes in the oil market have been on Biden to see whether his administration will announce a release from the national Strategic Petroleum Reserve in a bid to
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OPITO has announced the agreement of a memorandum of understanding (MOU) with the Acorn Project and Scottish Cluster to develop a blueprint of industrial skilling and reskilling training for the low carbon economy. The global safety and skills body for the energy industry said it will provide standards and skills competency training support to the
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Energy transition company Technip Energies and Malaysia’s Petronas have signed an agreement that created a collaboration framework for the further development and commercialization of carbon capture technologies. Technip Energies said that the technologies mentioned include Petronas’ Rotating Pack Bed assisted cryogenic CO2 recovery technology or CryoMin and membrane-based CO2 recovery technology – PN2. The two
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A ConocoPhillips refinery in Wilmington, California. Jonathan Alcorn | Bloomberg | Getty Images The world needs to reduce carbon levels, and one way is through a carbon tax, a strategy the U.S. has been debating for decades.    With urgent calls to lower greenhouse gas emissions globally, putting a price on carbon was one of the major points of discussion among world leaders at the COP26 conference in
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Senate Majority Leader Charles Schumer urged President Joe Biden to tap the U.S. government’s reserves of emergency fuel to help lower gasoline prices. “Consumers need immediate relief at the gas pump, and so I am urging the administration to approve fuel sales from the nation’s Strategic Petroleum Reserve,” Schumer, a Democrat who is New York’s
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Oil prices notched the longest stretch of weekly losses since March with U.S. President Joe Biden keeping investors guessing about whether he’ll act to tame higher energy prices that are driving a surge in inflation. Futures in New York fell 1% on Friday, yet pared some losses near the end of the session after White
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HollyFrontier Corporation (NYSE: HFC) has announced the promotion of Tim Go to the position of president and chief operating officer (COO), effective immediately. As president and COO, Go’s responsibilities will include oversight over HollyFrontier’s refining and lubricants and specialty products segments. Mike Jennings, who previously served as chief executive officer and president of HollyFrontier, will
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