Latest news in oil and gas industry

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

Global Oil Market

• OPEC+ agrees to increase oil production by 400,000 barrels per day (b/d) in July, despite concerns over rising COVID-19 cases and demand uncertainty. (Source: Reuters)
• Global oil demand is expected to recover to pre-pandemic levels by 2023, according to the International Energy Agency (IEA). (Source: IEA)

North America

• ExxonMobil announces plans to increase its Permian Basin oil production by 25% in 2022, as part of its strategy to boost output in the region. (Source: Bloomberg)
• Chevron announces a major discovery of oil and natural gas in the Gulf of Mexico, with estimated reserves of up to 200 million barrels of oil equivalent. (Source: Chevron)

Europe

• Total announces plans to invest €1 billion in its offshore wind farm project in the North Sea, which will generate enough electricity to power over 1 million homes. (Source: Total)
• Eni announces a major gas discovery in the Mediterranean Sea, with estimated reserves of up to 10 trillion cubic feet of natural gas. (Source: Eni)

Middle East

• Saudi Aramco announces plans to increase its oil production capacity to 13 million barrels per day (b/d) by 2027, as part of its strategy to meet growing global demand. (Source: Saudi Aramco)
• Abu Dhabi National Oil Company (ADNOC) announces plans to increase its oil production capacity to 5 million b/d by 2030, as part of its strategy to diversify its economy. (Source: ADNOC)

Technology and Innovation

• Schlumberger announces the development of a new artificial intelligence (AI) platform to optimize oil and gas production, which is expected to reduce costs and increase efficiency. (Source: Schlumberger)
• BP announces plans to invest in a new carbon capture and storage (CCS) project in the UK, which will capture and store up to 2 million tons of CO2 per year. (Source: BP)

Environmental and Regulatory

• The European Union announces plans to introduce stricter emissions standards for the oil and gas industry, as part of its efforts to reduce greenhouse gas emissions. (Source: EU)
• The US Environmental Protection Agency (EPA) announces plans to roll back regulations on methane emissions from oil and gas operations, sparking controversy and criticism from environmental groups. (Source: EPA)

These are just a few of the latest news and updates in the oil and gas industry. If you're interested in staying up-to-date with the latest developments, I recommend following reputable sources such as Oil & Gas Journal, Platts, and Reuters.