Industry News
BP scales back its energy transition, abandons oil and gas targets
BP has pulled back from its promise to cut oil and gas output by 40%, as a way to regain the confidence of investors.
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Industry News
Regional tensions prompt Iran’s oil tankers to leave Kharg Island
Several large oil tankers have been seen leaving the waters around Iran’s Kharg Island, as regional tensions escalate across the Middle East.
Carbon Capture
UK makes £22bn commitment to fund carbon capture and storage
Rachel Reeves, the UK Chancellor, has announced plans to commit almost £22bn to fund carbon capture and storage (CCS) projects.
Industry News
Investment and equipment issues prompt 9% fall in Venezuela’s oil exports
A series of equipment and investment issues in Venezuela has seen the country’s exports of crude oil fall 9% on the month.
Industry News
TC Energy subsidiary South Bow begins trading on TSX
On Wednesday, TC Energy subsidiary, South Bow Corp., began trading on the Toronto Stock Exchange.
Industry News
Israel may target Iran’s oil facilities as Middle East tensions escalate
Israel is said to be planning an attack on Iran’s oil infrastructure in a few days, as retaliation for a missile attack on Tuesday.
Industry News
Russia’s Deputy PM: OPEC+ losing market share will stabilise markets
Oil reductions by OPEC+ will results in an immediate loss in market share, but will eventually stabilise global markets, says Russia.
Gulf of Mexico
Gulf of Mexico’s oil and gas operations recover as Hurricane Helene moves northÂ
The US Bureau of Safety and Environmental Enforcement has provided its final update on oil and gas operations in the Gulf of Mexico.
Industry News
Expected growth in the developing world sees OPEC raise oil demand outlook
OPEC has upped its oil demand forecast for the medium-to-long term, citing Indian, African and the Middle East.
Industry News
Forties Pipeline System faces early closure, warns chief executive
The Forties Pipeline System may have to close in six years as Labour’s North Sea tax policies make the network financially unsustainable.