Ge oil and gas news

Here are some recent news articles and updates from the oil and gas industry:

Global Oil and Gas News

  1. OPEC+ agrees to increase oil production: The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, have agreed to increase oil production by 500,000 barrels per day (bpd) in July, despite concerns over the impact of the COVID-19 pandemic on global demand. (Source: Reuters)
  2. Global oil demand to recover slowly: The International Energy Agency (IEA) has forecast that global oil demand will recover slowly from the pandemic, with demand expected to return to pre-pandemic levels by 2023. (Source: Bloomberg)
  3. Renewable energy to surpass fossil fuels by 2050: A report by the International Renewable Energy Agency (IRENA) has predicted that renewable energy will surpass fossil fuels as the world's largest source of electricity by 2050. (Source: CNBC)

North American Oil and Gas News

  1. US shale production to increase: The US Energy Information Administration (EIA) has forecast that US shale oil production will increase by 120,000 bpd in July, driven by growth in the Permian Basin. (Source: S&P Global Platts)
  2. Canada's oil sands production to decline: The Canadian Association of Petroleum Producers (CAPP) has forecast that oil sands production in Canada will decline by 10% in 2022 due to pipeline constraints and environmental concerns. (Source: The Globe and Mail)
  3. US natural gas prices to remain low: The EIA has forecast that US natural gas prices will remain low in the coming months, driven by increased production and storage levels. (Source: Natural Gas Intelligence)

Company News

  1. ExxonMobil to invest $20 billion in low-carbon projects: ExxonMobil has announced plans to invest $20 billion in low-carbon projects over the next five years, including carbon capture and storage, hydrogen production, and biofuels. (Source: ExxonMobil)
  2. Chevron to acquire Noble Energy: Chevron has agreed to acquire Noble Energy in a deal worth $5 billion, expanding its presence in the Permian Basin and the Eastern Mediterranean. (Source: Chevron)
  3. BP to invest $500 million in US wind energy: BP has announced plans to invest $500 million in US wind energy projects, including a 300-megawatt wind farm in Texas. (Source: BP)

Regulatory News

  1. US EPA proposes new methane rules: The US Environmental Protection Agency (EPA) has proposed new rules to reduce methane emissions from oil and gas operations, including requirements for leak detection and repair. (Source: EPA)
  2. Canada proposes new oil sands regulations: The Canadian government has proposed new regulations to reduce greenhouse gas emissions from oil sands operations, including a carbon price and stricter emissions standards. (Source: Natural Resources Canada)
  3. EU proposes new climate targets: The European Union has proposed new climate targets, including a 55% reduction in greenhouse gas emissions by 2030 and a carbon-neutral economy by 2050. (Source: European Commission)