Following the publication of the energy industry’s first quarterly results since the Covid-19 outbreak, a Rystad Energy analysis reveals a surprising contrast. While the oilfield service (OFS) market has taken Continue Reading
American oil producers are reopening the spigots, complicating the crude market’s recovery. Scores of shale drilling companies turned off wells to reduce output when U.S. oil prices fell to negative territory in Continue Reading
Crushed by plunging oil prices and demand in the coronavirus pandemic, Canadian oil firms slashed budgets, dividends, and production to save their finances through one of the worst crises in Continue Reading
When public oil and gas companies are doing relatively well, many are happy to adopt a pay-for-performance model to reward CEOs and executives. However, the tables are quickly turned when Continue Reading
U.S. shale drillers are bringing back shut in production three months after the onset of the current downturn. But steep decline rates will increasingly take hold, dragging down overall U.S. Continue Reading
Energy producers shut down almost 35% of the US Gulf of Mexico’s crude oil production and more than 32% of natural gas supplies ahead of Tropical Storm Cristobal making a Continue Reading
As of June 7, workers have been evacuated from 185 production platforms in the U.S. Gulf of Mexico due to Storm Cristobol. As of June 7, workers have been evacuated Continue Reading
British Prime Minister Boris Johnson is considering giving drivers up to 6,000 pounds ($7,609.20) to swap their diesel and petrol cars for electric vehicles, under plans to relaunch the economy, Continue Reading
Investigators have determined that the leakage of of 20,000 tons of diesel (about 150,000 barrels) from a reservoir at a power plant in Russia’s Far North was caused by damage from thawing Continue Reading
The oil market collapse caused by the Covid-19 pandemic is set to delay several oil and gas developments in Western Europe, putting capital expenditure in the offshore sector on a Continue Reading
