After a surprising cut by OPEC and allies, European markets end the day lower, while oil and gas stocks rise by 4 percent.

Monday's slight decline across Europe's stock markets came as investors focused on the oil market in the wake of a surprise production cut by the OPEC+ alliance.

After being flat for most of the afternoon, the pan-European Stoxx 600 index ended up 0.1%.

Brent crude fut...

Companies in the oil and gas industry are taking Los Angeles to court over the city's ban on oil and gas drilling.

Legal action has been taken against the City of Los Angeles by an oil business with operations in the Wilmington area as a result of the City's statute prohibiting the construction of new wells and phasing out drilling altogether. Warren Resources, the company that runs the 10-acre oil-extrac...

Europe must commit fully to diversifying its oil and gas sources

Energy-related decisions made in the past by Berlin and Brussels were terrible decisions that made Europe more reliant on Russian gas. Through this dependence, the Kremlin has been able to persuade certain countries—and occasionally the European Union (EU) as a whole—to support develo...

Environmental groups battle the Bay du Nord oil project in court and before the Norwegian public

In May, several protesters gathered in front of the Equinor offices in Newfoundland and Labrador to voice their opposition to the Bay du Nord oil project's approval.

Even after the federal government approved the Bay du Nord offshore oil project in Newfoundland months ago, environme...

Unites States DOE to Invest 165million USD in Geothermal

The Geothermal Energy from Oil and Gas Demonstrated Engineering (GEODE) will receive 165 million USD from the U.S. Department of Energy for its initiative to leverage expertise from the gas and oil industry to fill the gaps in the knowledge and technology of geothermal energy.

Firstly a...

BP sells Jadestone an interest in oil-producing areas off the coast of Australia

Oil and gas company Jadestone Energy, which is listed on AIM and has its headquarters in Singapore, is growing its presence offshore Australia as a result of an agreement it reached with BP to purchase the oil major's stake in oil-producing fields that are a part of a project run by Australia...

What will happen next given the extreme volatility of the world's oil and gas prices

World oil and gas prices have been impacted by supply and demand shocks over the past two and a half years, occasionally both at once. Energy market volatility as a result is a microcosm and mirror of a faltering world economy.

As the Covid-19 pandemic expanded over the globe, the price...

Scope 3 emissions divide European and US oil and gas businesses on the path to net-zero emissions

By mid-century, all European oil firms have pledged to achieve net-zero emissions of any type, a timeframe that scientists think will keep global warming to less than 2 degrees Celsius.

Customers, on the other hand, say that they should be held responsible for the carbon they emit by pa...

The US Interior Department must consider the climatic consequences of oil and gas leasing

After Judge Rudolph Contreras of the United States District Court for the District of Columbia denied industry groups' motion to dismiss three previous settlements from lawsuits brought by western US conservation groups against the Interior Department's Bureau of Land Management, the requ...

The ban on oil and gas production in rich fishing areas off the coast of Nova Scotia has been extended until 2032

The moratorium on oil and gas development on rich fishing grounds south of Nova Scotia has been extended until 2032.

The prohibition on Georges Bank was set to terminate at the end of the year. The prolongation was officially announced on Wednesday morning.

From January 1, 202...

PTT, Thailand's state-owned oil and gas company, has backed 'Team Thailand' in its efforts to grow the EV industry

PTT Public Co Ltd, the state-owned oil and gas conglomerate, has proposed that the government and private sector form "Team Thailand" to promote the Electric Vehicle (EV) segment. The goal would be to market Thailand as the "Detroit of Asia" in terms of EV production.

According to a high-ranking politician, Pavel Zavalny, Russia is considering accepting Bitcoin as payment for its oil and gas exports

"Friendly" nations might be permitted to pay in cryptocurrency or their local currencies.

Earlier this week, Russian President Vladimir Putin stated that he would want "unfriendly" countries to purchase Russian gas in roubles.

The action is said to be inten...

The resistance rises in tandem with Australia's resource pipeline

Just a few years ago, the Australian resource industry was under a cloud amid a worldwide campaign to diversify away from oil and gas businesses.

During a global energy crisis, the pipeline of new resource projects is increasing, and returns are hovering around record levels.

...

As it ramps up its oil and gas investment, Adnoc wins a significant contract for the enormous Bab oilfield

According to the company, the project is another step toward increasing Abu Dhabi's oil production capacity to 5 million barrels per day by 2030. Abu Dhabi National Oil Company (Adnoc) has awarded a $227 million contract to RobtStone of the United Arab Emirates for work on a key enhanced oil ...

Russia Agrees to Supply Oil and Gas to China

As tensions with Europe continue to increase over the Ukraine conflict, Russia agrees to supply gas to China through a new pipeline.

Russian President Vladimir Putin has announced that the country has signed new deals with neighboring China that are worth 117.5 billion dollars. The lead...

ExxonMobil Increasing Oil and Gas Projects in Singapore

Last week, oil and gas company, ExxonMobil, announced that it was adding two more discoveries of oil and gas to the Stabroek block.

The energy major has said that the first well, the Fangtooth-1, was drilled in 6,030 feet of the sea and had found 164 feet of sandstone reservoirs that bo...

ICL to Supply Clear Brine Fluids to the UAE

Israel’s specialty minerals company (ICL) is one of the very few companies in the world that can meet the tight demands of clear brine fluids by the oil and gas industries.

After the United Arab Emirates formally recognized the state of Israel, trade, and collaboration were made e...

Exploration of Oil and Gas in Australia in July-September

According to the latest available official data, Oil and gas exploration spending edged higher in July-September from the last and a year-earlier quarters, whereas offshore exploration continued to stay at subdued levels and has also been lower than the onshore upstream sector of exploration for ...

PETROCHINA AIMS TO SUPPLY ZERO-CARBON PRODUCTS BY 2035

Highlights –

• PetroChina aims to supply zero-cabon products by 2025.
• It also expects its carbon emissions to peak by 2025.
• In 2025, the company aims to produce between 150 billion and 160 billion cubic metres of natural gas.

QUANTZIG NEW ANALYTICS FEATURE WILL HELP OIL AND GAS INDUSTRY

Highlights

• Challenges faced by oil and gas companies
• Key features of oil and gas analytics

Quantzig company is an international analytics and advisory firm with offices located in the ...