Current news in oil and gas industry

Here are some current news and updates in the oil and gas industry:

Global Oil Market

• OPEC+ agrees to increase oil production by 400,000 barrels per day (bpd) in July, despite concerns over the impact on the global oil market (Source: Reuters)
• The International Energy Agency (IEA) warns that the oil market is facing a "perfect storm" of supply disruptions and demand destruction due to the COVID-19 pandemic (Source: IEA)

North America

• The US Energy Information Administration (EIA) reports that US crude oil production has fallen to its lowest level since 2018, due to the impact of the pandemic on demand and production (Source: EIA)
• ExxonMobil announces plans to reduce its greenhouse gas emissions by 20% by 2030, as part of its efforts to transition to a lower-carbon future (Source: ExxonMobil)
• Chevron announces a major discovery of oil and natural gas in the Permian Basin, one of the largest oil-producing regions in the US (Source: Chevron)

Europe

• The European Union (EU) agrees to reduce its greenhouse gas emissions by at least 55% by 2030, as part of its efforts to combat climate change (Source: EU)
• Royal Dutch Shell announces plans to cut its carbon footprint by 20% by 2035, as part of its efforts to transition to a lower-carbon future (Source: Shell)
• Total announces a major discovery of oil and natural gas in the North Sea, off the coast of Norway (Source: Total)

Middle East

• Saudi Aramco announces plans to increase its oil production capacity to 13 million barrels per day (bpd) by 2027, as part of its efforts to meet growing global demand (Source: Saudi Aramco)
• The United Arab Emirates (UAE) announces plans to increase its oil production capacity to 5 million bpd by 2030, as part of its efforts to diversify its economy (Source: UAE)
• Iran announces plans to increase its oil production capacity to 4 million bpd by 2025, as part of its efforts to recover from US sanctions (Source: Iran)

Technology and Innovation

• BP announces plans to invest $500 million in a new low-carbon energy business, as part of its efforts to transition to a lower-carbon future (Source: BP)
• Schlumberger announces plans to invest $1 billion in a new digital oilfield technology, as part of its efforts to improve efficiency and reduce costs in the oil and gas industry (Source: Schlumberger)
• The US Department of Energy announces plans to invest $100 million in a new advanced oil and gas technology research program, as part of its efforts to improve energy efficiency and reduce greenhouse gas emissions (Source: US Department of Energy)

Environmental and Social Impact

• The oil and gas industry faces growing pressure to reduce its environmental impact, with many companies announcing plans to reduce their greenhouse gas emissions and improve their environmental sustainability (Source: Various)
• The oil and gas industry also faces growing pressure to improve its social impact, with many companies announcing plans to improve their community engagement and social responsibility (Source: Various)

These are just a few examples of the current news and updates in the oil and gas industry. The industry is constantly evolving, and there are many other developments and trends that are shaping the future of the industry.