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  • French central bank to exit coal, cap oil and gas investments

    The Bank of France manages 22 billion euros ($26.6 billion) of its own portfolio investments separately from asset purchases related to its monetary policy operations.

  • Saudi Arabia makes four new oil and gas discoveries

    "The discovery of more reserves of Saudi extra light crude is especially beneficial for Aramco, as the grade trades at a premium to the heavier and more sulphurous barrels coming out of the kingdom," said Vandana Hari, founder and chief executive of Singapore-based Vanda Insights.

  • Carbon Dioxide Removal Industry Could Rival Oil and Gas in Climate Fight

    Vivid Economics’ revenue estimates are much higher than those of other experts. Julio Friedmann, a senior research scholar at Columbia University, thinks the carbon removal industry’s revenues in 2050 are likely to be closer to $500 billion. Noah Deich, executive director of Carbon 180, a non-profit that works on carbon removal, called predicting the value of a market 30 years from now a “highly speculative exercise,” especially when that market barely exists today.

  • Coincidence of Coronavirus, Climate Crises Accelerate Major Shifts in Oil and Gas Industries

    Regardless of when the global economy returns to growth and what shape the post-pandemic recovery takes, the crisis has exacerbated existing weaknesses in the energy system and may have a far-reaching impact on future demand for fossil fuels as a result of structural changes driven by the climate change agenda.

  • Rystad expects swift recovery in offshore oil and gas pipeline market led by Middle East

    Although it is set for a significant drop from last year’s 2,913 km, offshore trunkline demand is holding up much better now than during the previous downturn, when demand plummeted to just 938 km in 2016 from 2,488 km the year before.

  • Can the Oil and Gas Sector Reinvent Itself in a Post-COVID World?

    The energy sector is now only 2.5% of the S&P 500. And Exxon is out of the Dow. These things would have been unfathomable a few years ago.

  • Saudi Aramco discovers two new oil and gas fields: energy minister

    State oil company Saudi Aramco has discovered two new oil and gas fields in the northern regions, the kingdom’s energy minister said on Sunday, state news agency SPA reported. The energy minister Prince Abdulaziz bin Salman Al-Saud said the new Abraq al-Toloul oil field, which lies to the south east of the northern city of Arar, flows with a daily rate of 3,189 barrels per day (bpd) of Arab light crude oil, along with 3.5 million cubic feet of natural gas.

  • Saudi’s SPARK, Kuwait’s NAPESCO to invest $100m for oil and gas facility

    In a move to support the oil and gas upstream sector in the Kingdom, Saudi Arabia’s King Salman Energy Park (SPARK) and Kuwait’s National Petroleum Services Company (NAPESCO) — a private company offering pumping services to the energy secto — are planning to invest $100m (SAR375m) to develop an equipment facility. In a statement on its official Twitter account, SPARK said that the facility will manufacture downhole tools, gyroscope, in addition to several oilfield equipment.

  • Looming Peak Oil Demand Triggers Gulf Race for Natural Gas

    This dash for gas will have ramifications for economic and energy models of the region’s petrostates for years to come as environmental pressures mount within the region and beyond.

  • Wave of North American oil and gas bankruptcies to continue at $40/bbl crude: report

    A wave of oil and gas bankruptcies in North America is likely to continue this year as oil prices remain depressed and a new surge of COVID-19 cases threaten to stall any recovery in fuel demand, law firm Haynes and Boone said in a report released this week. Bankruptcies surged in the second quarter, including from major shale independents Chesapeake Energy and Whiting Petroleum, as oil prices collapsed due to the pandemic and a brief, unexpected price war between Saudi Arabia and Russia.