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June 7, 2023

Exxon to continue producing oil, gas while pursing carbon capture technology, CEO says- oil and gas 360

Exxon to continue producing oil, gas while pursing carbon capture technology, CEO says

June 7, 2023

World Oil (Bloomberg) – European leaders looking to tackle climate change should look to U.S. policy and “let the market work” to avoid driving companies away with prescriptive regulations, ExxonMobil Corp. Chief Executive Officer Darren Woods said. “I think it’s a huge mistake to be picking winners and losers and focusing on specific technologies,” Woods told the CEO Norway’s Wealth

Chevron: Natural gas to play “long-term” role in curbing emissions- oil and gas 360

Chevron: Natural gas to play “long-term” role in curbing emissions

June 7, 2023

World Oil (Bloomberg) – Chevron Corp. said natural gas will play a long-term role in curbing emissions, bucking some environmental groups that see the fuel’s role as a temporary bridge to a low-carbon economy. To that end, European buyers are signing more gas-delivery contracts of a decade or more in duration as they seek replacement sources of the heating and

Canada’s TC Energy laying off staff- oil and gas 360

Canada’s TC Energy laying off staff

June 7, 2023

BOE Report Canada’s TC Energy is cutting some jobs to “optimize value” a company spokesperson said on Tuesday, without giving details of how many positions have been impacted. News of the job cuts at TC Energy comes a week after Suncor Energy told employees it would eliminate 1,500 jobs. Earlier this year, Imperial Oil cut the number of contractors working at its Kearl oil sands project.

Energy industry boosting cybersecurity spending in 2023, DNV report reveals- oil and gas 360

Energy industry boosting cybersecurity spending in 2023, DNV report reveals

June 7, 2023

World Oil (WO) – New research published by DNV reveals that the energy industry is boosting its cybersecurity spending this year, as heightened geopolitical tensions and the accelerating adoption of digitally connected infrastructure spark concerns over the sector’s vulnerabilities to emerging cyber threats. A majority (59%) of the 600 energy professionals surveyed by DNV say their organization is investing more

Oil prices edge higher as Saudi cut outweighs bearish backdrop- oil and gas 360

Oil prices edge higher as Saudi cut outweighs bearish backdrop

June 7, 2023

Yahoo Finance LONDON – Oil prices edged higher on Wednesday as Saudi Arabia’s surprise weekend pledge to deepen output cuts outweighed weak Chinese export data and rising U.S. fuel stocks. Brent crude futures were up 36 cents, or 0.5%, at $76.65 a barrel by 0949 GMT while U.S. West Texas Intermediate crude futures gained 37 cents, or 0.5%, to $72.11.

U.S. crude oil inventories increase by 0.5 million barrels- oil and gas 360

U.S. crude oil inventories decrease by 0.5 million barrels

June 7, 2023

Weekly Crude Oil Storage as of June 2, 2023     U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 0.5 million barrels from the previous week.  At 459.2 million barrels, U.S. crude oil inventories are 2% below the five year average for this time of year, according to the EIA crude oil and petroleum

The 3 most exciting oil and gas exploration plays in South America- oil and gas 360

The 3 most exciting oil and gas exploration plays in South America

June 7, 2023

Oil Price After Exxon’s string of high-quality oil discoveries in offshore Guyana delivered more than 11 billion barrels of oil resources South America started garnering considerable attention from energy investors.  This saw South America emerge big oil’s new favorite continent. While analysts describe Guyana as the world’s most exciting frontier oil play it is not the only South American country attracting

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