World oil and gas news

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

Oil

  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. US oil production reaches record high: The United States has reached a record high in oil production, with the Energy Information Administration (EIA) reporting that the country produced an average of 12.2 million barrels per day (bpd) in March. (Source: CNBC)
  3. Saudi Arabia to increase oil exports: Saudi Arabia, the world's largest oil exporter, has announced plans to increase its oil exports in July, despite the OPEC+ agreement to increase production. (Source: Bloomberg)

Gas

  1. LNG demand surges in Asia: Demand for liquefied natural gas (LNG) has surged in Asia, driven by strong economic growth and increasing use of the fuel for power generation and industrial applications. (Source: Platts)
  2. US natural gas production reaches record high: The United States has reached a record high in natural gas production, with the EIA reporting that the country produced an average of 93.2 billion cubic feet per day (bcfd) in March. (Source: Natural Gas Intelligence)
  3. Russia's Gazprom to increase gas exports: Russia's state-owned gas company, Gazprom, has announced plans to increase its gas exports to Europe and Asia, despite concerns over the impact of the COVID-19 pandemic on global demand. (Source: TASS)

Industry Trends

  1. Renewable energy to surpass fossil fuels by 2050: A report by the International Energy Agency (IEA) has predicted that renewable energy will surpass fossil fuels as the world's largest source of electricity by 2050. (Source: IEA)
  2. Electric vehicles to drive demand for lithium: The growing demand for electric vehicles is expected to drive demand for lithium, a key component in the production of electric vehicle batteries. (Source: Bloomberg)
  3. Oil and gas companies invest in digital transformation: Many oil and gas companies are investing in digital transformation, including the use of artificial intelligence, blockchain, and the Internet of Things (IoT), to improve efficiency and reduce costs. (Source: Oil & Gas Journal)

Company News

  1. ExxonMobil to invest $20 billion in low-carbon technologies: ExxonMobil has announced plans to invest $20 billion in low-carbon technologies, including carbon capture and storage, over the next five years. (Source: ExxonMobil)
  2. BP to invest $500 million in renewable energy: BP has announced plans to invest $500 million in renewable energy, including wind and solar power, over the next five years. (Source: BP)
  3. Shell to invest $1 billion in electric vehicle charging infrastructure: Royal Dutch Shell has announced plans to invest $1 billion in electric vehicle charging infrastructure over the next five years. (Source: Shell)