Oil and gas industry news
Here are some recent news articles and updates from the oil and gas industry:
Global Energy Market
- OPEC+ agrees to increase oil production by 400,000 barrels per day in July, despite concerns over global demand (Source: Reuters)
- Global oil demand is expected to recover to pre-pandemic levels by 2023, according to the International Energy Agency (Source: Bloomberg)
North America
- US oil production reaches record high of 12.2 million barrels per day in March, according to the Energy Information Administration (Source: CNBC)
- Canada's oil sands production is expected to decline by 10% in 2023 due to pipeline constraints and environmental concerns (Source: The Globe and Mail)
Europe
- The European Union is considering a ban on new fossil fuel exploration and production to meet its climate goals (Source: The Guardian)
- Norway's oil and gas production is expected to decline by 10% in 2023 due to natural decline and reduced investment (Source: Reuters)
Middle East
- Saudi Arabia is planning to increase its oil production capacity to 13 million barrels per day by 2027, according to the Saudi Energy Ministry (Source: Bloomberg)
- Iran's oil production is expected to increase by 100,000 barrels per day in the second half of 2023, according to the country's oil minister (Source: Reuters)
Technology and Innovation
- ExxonMobil and Equinor are partnering to develop a new carbon capture and storage technology that could reduce emissions from oil and gas production (Source: Oil & Gas Journal)
- Schlumberger is launching a new digital platform to help oil and gas companies optimize their operations and reduce costs (Source: Upstream)
Mergers and Acquisitions
- Occidental Petroleum is acquiring Anadarko Petroleum for $38 billion, creating one of the largest oil and gas companies in the US (Source: The Wall Street Journal)
- Royal Dutch Shell is acquiring a 26.5% stake in the Permian Basin's Midland Basin from ConocoPhillips for $1.3 billion (Source: Reuters)
Environmental and Regulatory
- The US Environmental Protection Agency is proposing new rules to reduce methane emissions from oil and gas operations (Source: The Hill)
- The European Union is considering new regulations to reduce the carbon footprint of oil and gas production and transportation (Source: EurActiv)
These are just a few examples of the latest news and updates from the oil and gas industry. If you're interested in staying up-to-date on the latest developments, I recommend following reputable sources such as Oil & Gas Journal, Upstream, and Bloomberg Energy.