Oil & Gas

BP (NYSE: BP) has announced that it and Aker are exploring a potential block sale of some of the shares they hold in Aker BP ASA through a private placement.  Aker and BP, which currently control approximately 40 percent and 30 percent of the shares outstanding in Aker BP, respectively, are said to be contemplating

President Joe Biden’s administration is targeting one of the tougher sources of climate-warming greenhouse gases with a plan that calls for the U.S. aviation sector to reach net-zero emissions by 2050. Aviation has been more challenging to decarbonize than automobiles, which can essentially run on batteries, but Biden’s 40-page plan released Tuesday calls for increasing

In this article XOM Oil giant Exxon Mobil, once the most valuable company in the U.S., is fighting for its future. Over the summer, investors forced a change on Exxon’s board. Since then, the company has been speeding up plans for its green economy pivot, which includes carbon capture and storage. Carbon capture is the

Oil and gas producer Occidental Petroleum Corp.’s move to hedge its output has been a roller coaster over the past two years.  Occidental, one of the Permian Basin’s biggest producers, lost an estimated $339 million from its oil and gas hedges this year through Sept. 30, the latest quarterly filing showed. That includes losses not

ADNOC distribution service station pumps with logo in daylight. ADNOC Energy experts say a plan by the Abu Dhabi National Oil Company (ADNOC) to power its operations using solar and nuclear energy beginning next year is a “groundbreaking” move, but more information is needed to understand the real impact on emissions.  ADNOC, which exports more

Methane emissions intensity in the Permian Basin has dropped almost 70 percent between 2011 and 2020, even as oil and gas production rose by over 320 percent. That’s according to an analysis by Texans for Natural Gas (TNG), a project of the Texas Independent Producers and Royalty Owners Association (TIPRO). The analysis also highlighted that flaring intensity in the basin decreased by more than 50 percent

U.S. Senator Joe Manchin (D-WV) walks through the U.S. Capitol in Washington, U.S., October 21, 2021. Elizabeth Frantz | Reuters Sen. Joe Manchin has been working to shrink or eliminate key elements of President Joe Biden and the Democratic Party’s massive social spending and climate proposal as several of his former advisors lobby Congress for

Here are some of Rigzone’s top stories during the last week, just in case you missed them… Shell CEO Talks Shell Break Up at Web Summit  Royal Dutch Shell plc chief executive officer Ben van Beurden responded to a question about breaking up Shell during an on-stage interview at the Web Summit conference in Lisbon,

              Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al-Saud speaks via video link during a virtual emergency meeting of OPEC and non-OPEC countries, following the outbreak of the coronavirus disease (COVID-19), in Riyadh, Saudi Arabia April 9, 2020. Saudi Press Agency | Reuters Forgive senior Saudi officials for their head-scratching in response to

Oil pared its weekly loss as Saudi Arabia cranked up prices for its global crude exports and the U.S. demurred on a potential release of oil from the strategic reserve. Crude in New York shaved its weekly loss to 2.8%, rising sharply late in the session Friday after Saudi Arabia raised the official selling price

British Prime Minister Boris Johnson and U.S. President Joe Biden react during the “Accelerating Clean Technology Innovation and Deployment” session during the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain November 2, 2021. Jeff J Mitchell | Reuters GLASGOW, Scotland — Climate campaigners and environmental activists have sharply criticized the organization of the COP26

Suez Canal Authority will increase transit tolls by 6% for nearly all ships passing through the critical waterway from February, despite posting a banner year with record revenue during the coronavirus pandemic. The authority, in a statement published on its website Thursday, cited an International Monetary Fund and World Trade Organization estimate that global trade traffic

Oil pumping jacks, also known as “nodding donkeys,” operate in an oilfield near Almetyevsk, Tatarstan, Russia, on Wednesday, March 11, 2020. Andrey Rudakov | Bloomberg | Getty Images Oil prices have hit their highest levels since 2014, and crude importing countries are feeling the pain. But despite diplomatic pressure, OPEC and its allies are unlikely

Oil and gas company Wintershall Dea has started the last part of the Nova drilling campaign following a year-long incident-induced break. The drilling was done in the North Sea from the Scarabeo 8 semi-submersible rig. Wintershall Dea said that the rig would drill three production wells and three water injection wells through two subsea templates.

In this article @LCO.4 A Saudi female employee serves a customer at a hypermarket, newly launched by the operator LuLu and run by a team of women, in the Saudi Arabian port city of Jeddah, on February 21, 2021. Amer Hilabi | AFP | Getty Images DUBAI, United Arab Emirates — Business activity for major

CVR Energy Inc., the oil refiner controlled by billionaire investor Carl Icahn, may split off its renewable-fuels business to tap a broader universe of capital.  “We are taking a long-term view and want to prepare for the future,” CVR Chief Executive Officer Dave Lamp said during a conference call with analysts on Tuesday. “This could

In this article BLK LONDON — Larry Fink, chair and CEO of BlackRock, says the so-called energy transition toward greener power has to be radically rethought and blasted oil firms for selling out to private companies. Speaking at the Green Horizon Summit chaired by CNBC’s Julianna Tatelbaum during the COP26 climate conference in Glasgow, Scotland,

Oil and gas company Neptune Energy has for the first time measured methane emissions on a working UK offshore platform using advanced drone technologies. The measurement was completed in collaboration with the Environmental Defense Fund (EDF). Methane is the primary component of natural gas and is a potent greenhouse gas. Fixed-wing and rotary drones equipped

Bureau Veritas (BV) has been awarded a three-year contract by Ithaca Energy to deliver verification certification and classification services, and environmental verification and audit services for six assets in the UK North Sea. The six assets comprise the Captain platform, the Captain FPSO, the Alba North Platform and a namesake FSO, the normally unmanned installation

As part of the US plan to deploy 30 gigawatts (GW) of offshore wind energy by 2030, the Department of the Interior has announced three major milestones to advance commercial offshore wind energy development. The DOI will propose a lease sale for wind energy development in the Carolina Long Bay area offshore the Carolinas, initiate