He noted Baker Hughes’ decision to reduce its carbon footprint by 50% by 2030, with the goal of being net zero by 2050, and urged others to take on their carbon footprints
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Oil & gas industry far from carbon footprint reduction goals: Aramco CEO
Amin Nasser noted that while climate change concerns increase the complexity of business for Aramco, the company s taking a “pragmatic” approach to the energy transition
North America to contribute 51% of global new-build crude oil trunk/transmission pipeline length additions by 2023, says GlobalData
The Middle East is the third-highest contributor to this segment in the same timeframe
Increased swaption activity may present financial reporting challenges for oil & gas companies
An increased use of swaptions may help upstream oil and gas producers weather lower natural gas prices, but they present financial reporting challenges, says Matt Smith, director in Opportune LLP’s financial instruments group
Oil prices poised for slide as tensions cool
Dramatic initial price reaction to US-Iranian hostilities in Persian Gulf, although less than before the US shale revolution
New technologies speed up plug and abandonment of oil and gas wells
GlobalData outlines a few key technologies aiding in decommissioning old wells
Global oil and gas discoveries reach four-year high in 2019
Oil and gas companies discovered 12.2bn barrels of oil equivalent in 2019
OPEC secretary-general says Iraq oil production unaffected by regional instability
He noted that he was optimistic that Iraq, which has lagged on its OPEC productions cuts, would reach full compliance in time
Could US-Iran tensions push oil prices over $100?
As tensions between the US and Iran escalate, our sister title Arabian Business brought together industry experts to discuss the potential impact on oil prices
OPEC oil production drops in December as compliance grows: Reuters survey
Iraq and Nigeria notably cut their production in December, edging closer to compliance with the OPEC+ agreement to curb output