World Oil (WO) — Shell Offshore Inc., a subsidiary of Shell plc, has made a final investment decision (FID) for Sparta, a deepwater development in the U.S. Gulf of Mexico that represents our competitive approach to simplifying and replicating projects. Owned by Shell Offshore Inc. (51% operator) and Equinor Gulf of Mexico LLC (49%), Sparta is expected to reach a
Oil and Gas 360 HOUSTON, August 17, 2023 – Flotek Industries, Inc. (“Flotek” or the “Company”) (NYSE: FTK) today announced three internal executive appointments, marking the final step in solidifying the Company’s leadership team as it focuses on strengthening its platform for continued growth and profitability. The promotions of Nathan Snoke to Senior Vice President – Global Business Lines, Shane
Oil Price Record increases in solar and wind installations in 2022 failed to cut into the massive 82% share of fossil fuels in global energy consumption amid turbulent energy markets and energy security concerns, the annual Statistical Review of World Energy showed on Monday. Moreover, despite the record growth of global solar and wind capacity additions last year, emissions rose again,
Nasdaq HOUSTON – Global demand for crude oil is continuing to rise but supply growth remains limited and will lead to higher prices later this year, a Pioneer Natural Resources PXD.N executive said on Thursday. The impact of recessionary fears on global crude oil also will be offset by stronger Chinese demand, Pioneer Executive Vice President Beth McDonald said at the RBN Energy crude
Oil Price New Mexico, home to part of the Permian basin, saw the highest crude oil production growth of any U.S. state last year, with output gains of 300,000 barrels per day (bpd) accounting for half of America’s oil production increase, the Energy Information Administration (EIA) said in a report on Thursday. Total U.S. crude oil production increased by 600,000 bpd in
World Oil Employment in the U.S. oilfield services and equipment sector rose by an estimated 4,999 jobs to 633,198 in June, according to preliminary data from the Bureau of Labor Statistics (BLS) and analysis by the Energy Workforce & Technology Council, and after adjustments to May numbers. May adjusted number of 628,190 is down from the preliminary of 628,793. Gains
SitePro Announces Additions To Management Team Focused On Growth
Sinopec’s Net Profit Up Over 20% to RMB 61.6 Billion in 2018
Upcoming projects in Russia, British Colombia and Texas could be worth nearly $2.5 billion in revenue From the Houston Chronicle The energy services company Baker Hughes is reaching beyond the oil field to a lucrative, growing market: liquefied natural gas. The Houston company recently landed deals to make turbines and other equipment for LNG export terminals planned along the Arctic
Encana Corporation (ticker: ECA) opened 2018 with Q1 net earnings of $151 million. This compares to Q1 2017’s net earnings of $431 million. Cash generated from operating activities reached $381 million, which compares to $106 million in Q1 2017. Encana’s first quarter production totaled 324,400 BOEPD, of which the company’s core assets contributed 307,500 BOEPD. Total liquids production grew by
Delaware Basin producer Centennial Resource Development, Inc. (ticker: CDEV) had average daily oil and total equivalent production volumes of 19,161 Bbls/d and 31,864 BOEPD, respectively. Centennial said that these production volumes represent an increase of 233% for daily oil and an increase of 278% for equivalents year-over-year. “In our first full year of operation, Centennial delivered on the 2017 goals
In 2017 China surpassed South Korea to become the world’s second-largest importer of LNG, according to data from IHS Markit and official Chinese government statistics, the EIA said. Driven by government policies designed to reduce air pollution, LNG imports increased by 1.6 Bcf/d in 2017, with monthly imports reaching 7.8 Bcf/d in December 2017. China has been striving to transition
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