Oil and gas sector news

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

Global Energy Market

• OPEC+ agrees to increase oil production by 400,000 barrels per day in July, despite concerns over rising COVID-19 cases and global economic uncertainty. (Source: Reuters)
• The International Energy Agency (IEA) warns that the global energy crisis is far from over, with oil prices expected to remain high due to supply chain disruptions and strong demand. (Source: Bloomberg)

Company News

• ExxonMobil reports a 21% increase in quarterly profits, driven by higher oil prices and improved refining margins. (Source: CNBC)
• Chevron announces a 15% increase in quarterly profits, citing strong oil and gas production and higher prices. (Source: The Wall Street Journal)
• Royal Dutch Shell reports a 10% increase in quarterly profits, driven by higher oil prices and improved refining margins. (Source: Financial Times)

Exploration and Production

• BP discovers significant oil and gas reserves in the Gulf of Mexico, with estimated reserves of up to 200 million barrels of oil equivalent. (Source: Offshore Magazine)
• TotalEnergies announces a major gas discovery in the Mediterranean Sea, with estimated reserves of up to 10 trillion cubic feet. (Source: Rigzone)
• ConocoPhillips discovers oil and gas in the Norwegian North Sea, with estimated reserves of up to 100 million barrels of oil equivalent. (Source: Upstream Online)

Infrastructure and Pipelines

• The US Federal Energy Regulatory Commission (FERC) approves the construction of the Mountain Valley Pipeline, a 303-mile natural gas pipeline project in West Virginia and Virginia. (Source: Natural Gas Intelligence)
• Enbridge announces plans to build a new oil pipeline from the US to Canada, with a capacity of up to 1.2 million barrels per day. (Source: Pipeline & Gas Journal)
• TransCanada Corporation (now known as TC Energy) announces plans to build a new natural gas pipeline from the US to Mexico, with a capacity of up to 2.6 billion cubic feet per day. (Source: Energy News Monitor)

Environmental and Regulatory

• The US Environmental Protection Agency (EPA) proposes new rules to reduce methane emissions from oil and gas operations, with a focus on reducing emissions from new and existing sources. (Source: The Hill)
• The European Union announces plans to phase out fossil fuel subsidies by 2025, as part of its efforts to reduce greenhouse gas emissions and transition to a low-carbon economy. (Source: EurActiv)
• The International Maritime Organization (IMO) sets new rules to reduce greenhouse gas emissions from international shipping, including a goal to reduce emissions by at least 50% by 2050. (Source: Maritime Executive)

These are just a few of the latest news updates from the oil and gas sector. If you're looking for more information or specific updates on a particular company or topic, feel free to ask!