CNOOC at risk of delisting in US as sanctions bite
Chinese oil majors may be next in line for delisting in the US after the New York Stock Exchange said last week it would remove the Asian nation’s three biggest telecom companies.
US
North Sea oil gets a jolt from Asian demand
North Sea oil prices are finally strengthening, catching up with other markets that already rallied on the back of rising buying interest from Asia, where demand in many places has already recovered from Covid-19.
CNOOC targeted by US after years of South China Sea tension
CNOOC, China’s third-biggest oil company faces a US blacklist, which could spur major outflows from its Hong Kong-listed unit, after years of involvement in offshore drilling in disputed South China Sea waters.
Costa Azul hits first LNG FID of the year
Backers of the Costa Azul LNG export plant in Mexico have reached a final investment decision (FID), the first to be taken globally this year.
Oil rises with China economic recovery, US ruling out lockdown
Oil has risen on optimism over China’s recovery from a virus-led demand crash and as advisers to President-elect Joe Biden ruled out a national lockdown to curb the spread of Covid-19.
Shell wants Biden to reverse methane emissions rollback
Shell will push for the reversal of President Donald Trump’s rollback of methane emissions rules and the introduction of carbon pricing when Joe Biden moves into the White House next year.
Plexus lands Schlumberger deal for wellhead tech through to 2030
Schlumberger will grant Aberdeen-headquartered Plexus Holdings royalties and a $500,000 lump sum payment after agreeing a multi-year licensing deal for its tech.
Biden win may curb US oil drilling, super-charge renewables
Biden’s victory could end up reshaping the US energy sector in years to come, although the president-elect may have limited room to maneuver given that control of the Senate remains unclear.
Trump’s Iran policy can be an opportunity for Biden
The next U.S. president will have to come to terms with “the will of the Iranian people” and end the economic war against the Islamic Republic, Iranian President Hassan Rouhani said in a speech Thursday. Bluster aside, there is a kernel of truth to his prediction — and President Donald Trump’s Iran policy may make negotiations easier for President-elect Joe Biden.
What’s ahead under President Biden, industry by industry
Now that the campaigning is over, the work begins for Joe Biden to start making good on the policy changes he promised. Here’s a breakdown of how a Biden presidency may affect some two dozen U.S. industries and what might rise to the top of his agenda as he takes over from Donald Trump in January. A few giant tech companies -- practically industries unto themselves -- are included for good measure.
Biden will take a clear climate mandate into White House
Joe Biden will take office with something no U.S. president has had before: robust popular support for climate action, borne out in polling data and election results from a hard-fought campaign.
Shell to shut Louisiana refinery after failing to find a buyer
Royal Dutch Shell Plc will begin shutting its Convent refinery in south Louisiana mid-month while it continues to seek a buyer for the facility, part of a plan to reduce its global sites and focus on combined oil refining and chemical plants.
US launches new Iran sanctions as election looms
The US Department of the Treasury has imposed new financial sanctions on Iran’s oil industry.
Cenovus to create Canada oil giant with $2.9bn Husky deal
Cenovus Energy Inc. agreed to buy Husky Energy Inc. in a C$3.8 billion ($2.9 billion) all-stock deal that will combine two of the largest players in Canada’s beleaguered oil-sands industry, which is struggling after the slump in crude prices.
Halliburton ‘executing on priorities’ after workforce reduced by 15,000
The chief executive of Halliburton has said “strong results” show it is “effectively executing on its strategic priorities” after the firm cut 15,000 jobs since the start of the year.
Traders talk peak demand and an upstream shift
Demand in Europe and the US may have peaked already, the heads of three trading companies have said, but growth will be sustained by Asia.
As rubble is cleared, legal cloud hangs over Marathon Oil building collapse
The aftermath of the deadly construction collapse inside the Marathon Oil building in west Houston is expected to result in complex and lengthy litigation with numerous companies involved in the project where three construction workers were killed Monday.
US oil production has already passed its peak, Occidental says
America’s oil production will never again reach the record 13 million barrels a day set earlier this year, just before the pandemic devastated global demand, according to Occidental Petroleum Corp.
Trump attempts to swing wrecking ball
I like this. Despite Donald Trump’s vitriolic hatred of turbines. In August, more than 100 governors, mayors and government officials across 40 American states declared their support for the wind industry during American Wind Week 2020.
Israel, Lebanon talks raise prospect of gas developments
Israel and Lebanon have begun discussions on shared boundaries, under an agreement brokered by the US.
Gas faces narrower, shorter bridging role
Natural gas demand fell only 3% in 2020 as a result of COVID-19 but its future is looking bleaker, a new report from S&P Global has warned.
Oil project approvals to recover and exceed pre-Covid levels from 2022
The Covid-19 pandemic has devastated global oil and gas project sanctioning this year and will cause total committed spending to drop to around $53 billion from 2019’s $190 billion, Rystad Energy says.
Accord sets stage for Israel, UAE, Bahrain energy co-operation
Israel, the United Arab Emirates and Bahrain have signed a peace agreement that marks a step towards normalising diplomatic relationships in the Middle East.
Turkey maintains Med stance with seismic move
Turkey’s Oruç Reis seismic ship has returned to port to resupply, the country’s energy ministry has said.
Oil edges higher ahead of OPEC+ meeting with demand in focus
Oil has climbed ahead of an OPEC+ meeting this week that will assess the group’s production cuts as the recovery from virus-driven demand destruction falters.