Underperforming offshore wells rack up over $100 billion in abandonment liabilities worldwide

Aging offshore oil wells that once brought market prominence to Europe, the U.S. Gulf and Brazil are increasingly money losers that companies want shut down amid low oil prices and a struggling global economy. But the effort won’t be cheap.

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Oil price slide continues on OPEC+ strife, questionable demand data

Oil retreated from a three-month high as OPEC+ unity was threatened by a long-running feud over complying with production cutbacks, while U.S. data cast doubt on the strength of the demand recovery.

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COVID-19 Drives Reserves of Global Oil and Gas Assets for Sale Up

Oil and gas companies currently have assets for sale with recoverable reserves of more than 5 billion barrels of liquids and 7.5 billion barrels of oil equivalent (boe) of natural gas, Rystad Energy estimates.

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Satellite images reveal huge amounts of methane leaking from U.S. oil fields

Oil and gas operations in the Permian Basin, the largest oil-producing area in the United States, are spewing more than twice the amount of methane emissions into the atmosphere than previously thought

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Covid-19 Blows a $400 Billion Hole in Global Energy

Covid-19 has blown a $400 billion hole in global energy. How we fix it will determine our success or failure versus that other implacable force of nature: climate change.

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Pandemic Punches 1.7-Billion-Barrel Hole in Global Oil Demand

A fifth of global demand for oil will disappear this quarter. All three of the major forecasting agencies now agree that the world faces its biggest-ever slump in oil consumption, after governments imposed movement restrictions on billions of people to combat the coronavirus

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Remote work technology: The one services segment that has benefited, says Rystad Energy

There are no hard numbers yet to illustrate the extent to which the COVID-19 pandemic has affected the oil and gas industry’s digitisation. However, a Rystad Energy analysis of service companies’ earnings calls reveals a clear growth in cost-saving remote work technologies.

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Total aims to get to net zero emissions by 2050

France’s Total announced its ambition to get to net-zero emissions by 2050 across its global business, production and energy products used by its customers.

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