Steve
Toon
Oil and Gas Investor
Latest Exclusives
Oil and Gas Sustainability Strategies: ESG Fact and Follies
As the hydrocarbon industries face intensifying pressure from stakeholders to emit less, nine oil and gas leaders share their viewpoints on how the industry should deal with expectations versus reality and why that might cut across the grain.
Expro Launches World's First Fully Autonomous Well Intervention System Galea
The system reduces the impact of operations on the environment around the well site. Galea has several fail-safe features to ensure containment and eliminate potential wire-breaks during interventions.
Lancium Closes $150 Million in Financing to Grow Clean Energy Business
Hanwha Solutions leads financing round, with participation from other leading strategic energy investors.
No Small Spill: Small-caps Versus Big Oil
Oil and Gas Investor Executive Editor-at-large Leslie Haines explores how the recent small oil spill offshore California raises huge concerns.
Energy Transition Spells Trouble for High-cost Oil Producers
High-cost fossil fuel producers like the U.S., Canada, Russia and Brazil need to plan for a rapid decline in exports in the coming years, or they risk being left in the lurch as the energy transition takes hold.
DNV, Applied Risk Partner to Build World’s Largest Industrial Cybersecurity Practice
The two companies aim to to safeguard critical infrastructure in energy, maritime, manufacturing, chemicals, healthcare and other sectors.
Cheniere to Sell US LNG to China's Foran Group
The deal is one of several announced in recent weeks as LNG buyers seek to lock in long-term prices and supplies of natural gas.
Japan's JERA Buys on LNG Spot Market to Ensure Winter Power Supply
To ensure fuel supply, JERA plans to keep its LNG inventory level at 1.7 million tonnes during December and February, 0.2 million tonnes higher than usual, Noguchi said.
Pinched by Energy Crisis, Spanish Coal Plant Slated for Closure Fires Up
To help the grid cope, Spain's power company restarted operations at one unit of its 1,400-megawatt coal plant in the northwestern Galicia region.
Equinor Awards Contracts to Aibel for Norwegian Offshore Fields
The Krafla field development will be one of the biggest development projects on the NCS in the planned realization period.
China to Release Oil Reserves According to its Needs
President Biden urged nations to coordinate oil release from Strategic Petroleum Reserve (SPR), in coordination with other countries, as part of efforts to tamp down high gas prices.
Goldman Sachs Says Global Oil Reserves Release 'a Drop in the Ocean'
Global oil prices climbed to a one-week high after the move to release oil from strategic petroleum reserves to cool the market fell short of some expectations.
Survey: Oil and Gas Price Expectations Bolster Bankers’ Confidence
Haynes and Boone survey shows that a primary indicator leans toward favorable borrowing for producers in 2022.
US Senator Warren Lashes Out at Energy Companies Over Natural Gas Prices
Warren said she was concerned about "the extent to which these price increases are being driven by energy companies’ corporate greed and profiteering."
Shale Oil's Slower Investment Sparks New Tension with White House
The rate at which U.S. shale producers put cash from operations into drilling for oil and gas fell to a record low last quarter, data from consultancy Rystad Energy showed.
Private Equity Investor Lime Rock Closes $203 Million Acquisition Fund
The acquisition fund, in which the Goldman Sachs Asset Management Vintage Funds served as the lead investor, received $134 million in new capital commitments to it and a separate co-investment vehicle.
Cheniere Partners Produces First LNG at Sabine Pass Train 6
Cheniere Partners expects completion of Train 6 to be achieved in the first quarter of 2022, approximately 1 year ahead of the guaranteed completion date.
How California is Using Hydrogen to Reach Carbon Neutrality Goals
The state has added light and heavy-duty fuel cell trucks to the market, setting it closer to a self-sustaining hydrogen economy, says California Fuel Cell Partnership’s Bill Elrick.
ProPetro, SEC Settle Charges on Ex-CEO’s Undisclosed Perks
Redman resigned last year in the wake of an investigation.
Carbon Footprint Matrix: Reducing CO2 in Upstream Development
New chemicals and technologies are helping upstream oil and gas developers operate more sustainably and minimize their carbon footprint in their infrastructure.
Woodfibre LNG Awards Contract to McDermott
EPFC contract moves green LNG export facility forward.
Shell Builds Pyrolysis Oil Unit to Convert Plastic Waste to Chemicals
The move reflects the oil major's shift from fossil fuels to renewables and low-carbon energy.
UAE Sees No Logic in It Pumping More Oil Now, Says Energy Minister
The minister said OPEC+ would meet on Dec. 2 and base decisions on "balance of supply and demand".
TotalEnergies Wins New Deals in Libya
These agreements aim to develop solar projects supplying electricity to the Libyan people and to invest in projects reducing gas flaring in oil fields.
US Natgas Jumps 4% as Soaring Global Prices Keep LNG Exports Strong
Data provider Refinitiv said output in the U.S. Lower 48 states averaged 96.1 Bcf/d so far in November, up from 94.1 Bcf/d in October and a monthly record of 95.4 Bcf/d in November 2019.
US Releases 50 Million Barrels of Crude from Strategic Oil Reserve
The move is a coordinated effort between energy-consuming nations including China and Japan to combat the rapid rise in energy prices.
The Guardians of Orphaned Wells
Industry executives, environmental leaders and elected officials are among those working to plug millions of wells left abandoned throughout the country.
New Fortress' US Permit to Ship LNG by Rail Could Expire Soon
Even if LNG by rail does not work, New Fortress could still transport LNG to the port by truck.
Oil Slips on US Plans to Tap Emergency Crude Reserves
Prices have dropped below $80 a barrel from a three-year high amid talks of a coordinated release and potential hit to energy demand from a fourth wave of COVID-19 cases in Europe.
International Highlights (Week of Nov. 22, 2021)
Check out these E&P and drilling activity highlights from around the world.