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Shell CEO Ben van Beurden to step down, renewables boss Wael Sawan to take the helm
Sept. 21, 2022
Source: CNBC

Shell CEO Ben van Beurden to step down, renewables boss Wael Sawan to take the helm

Oil giant Shell on Thursday announced that CEO Ben van Beurden will step down at the end of the year after nearly a decade at the helm. Wael Sawan, currently Shell’s director of integrated gas, renewables and energy solutions, will become its next chief executive on Jan. 1.

UN secretary general says ‘polluters must pay,’ calls for extra tax on fossil fuel profits
Sept. 21, 2022
Source: CNBC

UN secretary general says ‘polluters must pay,’ calls for extra tax on fossil fuel profits

The U.N. secretary general said Tuesday that developed economies should impose an extra tax on the profits of fossil fuel firms, with the funds diverted to countries affected by climate change and households struggling with the cost-of-living crisis.

North America Sees Double Digit Rig Rise
Sept. 20, 2022
Source: RIGZONE

North America Sees Double Digit Rig Rise

North America added 10 rigs week on week, according to Baker Hughes’ latest rotary rig count, which was published on September 16. Six of the 10 weekly additions came from Canada, with the remaining four coming from the U.S., the rig count highlighted. Canada added six oil rigs week on week, whereas the U.S. added eight oil rigs, and dropped four gas rigs, week on week, Baker Hughes’ count showed.

Aramco Jafurah Gas Field as Energy Game Changer
Sept. 20, 2022
Source: RIGZONE

Aramco Jafurah Gas Field as Energy Game Changer

As the world increases efforts to transition to a low-carbon economy, the issue of carbon management has become urgent for the oil and gas sector, which faces the dual challenge of meeting growing energy needs with fewer emissions. From new technologies to cleaner energy sources, Aramco has sought to tackle this challenge by investing in key areas that advance sustainability.

Shell and unions put dispute behind them as production resumes at mighty Prelude FLNG
Sept. 19, 2022
Source: upstream

Shell and unions put dispute behind them as production resumes at mighty Prelude FLNG

Production has restarted and liquefied natural gas cargoes have resumed from Shell’s Prelude foating LNG facility offshore Western Australia following a near three-month outage.The outage was due to a workers' industrial action that lasted 76 days, with Shell halting the loading of LNG cargoes on 28 June.

Beetaloo bombshell: Aussie operator exits high-potential shale gas play
Sept. 19, 2022
Source: upstream

Beetaloo bombshell: Aussie operator exits high-potential shale gas play

Australian LNG producer Origin Energy has agreed to sell its interest in the high-potential shale gas play of the Beetaloo sub-basin as part of a process of exiting the upstream exploration business.The move is part of a strategic shift to grow cleaner energy and customer solutions, and deliver reliable energy through the transition, Origin said today.

U.S. Department Of Energy To Slash Costs Of Geothermal Power
Sept. 13, 2022
Source: RIGZONE

U.S. Department Of Energy To Slash Costs Of Geothermal Power

U.S. Secretary Jennifer M. Granholm has announced a new Department of Energy goal to make enhanced geothermal systems (EGS) a widespread renewable energy option in the U.S. by cutting its cost by 90 percent to $45 per megawatt hour by 2035.

North America Drops Rigs
Sept. 13, 2022
Source: RIGZONE

North America Drops Rigs

North America dropped four rigs week on week, according to Baker Hughes’ latest rotary rig count, which was published on September 9.

Greek Coast Guard Fires Warning Shots Near Turkish Island
Sept. 13, 2022
Source: RIGZONE

Greek Coast Guard Fires Warning Shots Near Turkish Island

The Greek coastguard confirmed that it fired ‘warning shots’ as the captain of the cargo vessel refused to allow an inspection after it was observed ‘moving suspiciously’ in Greek territorial waters off the island of Lesbos, the MSTA noted.

Gas Prices May Spike Again This Winter As Europe Cuts Off Russian Oil, Yellen Says
Sept. 12, 2022
Source: FORBES

Gas Prices May Spike Again This Winter As Europe Cuts Off Russian Oil, Yellen Says

Gas prices could jump again this winter following a months-long decline in the United States, Treasury Secretary Janet Yellen warned Sunday, as the European Union plans to largely stop buying Russian oil in December over the war in Ukraine.

New Study in "Earth Science Frontiers" Explores an Untapped Reserve of Oil and Gas Resources
Sept. 12, 2022
Source: PR NEWSWIRE

New Study in "Earth Science Frontiers" Explores an Untapped Reserve of Oil and Gas Resources

Modern societies are still very much dependent on oil and gas resources for their smooth functioning. However, natural oil and gas resources are limited and non-renewable. In order to keep up with the growing demand for hydrocarbons, we need to find and secure alternate sources of natural oil and gas. Fortunately, a massive and mostly untapped reserve of oil and gas waits beneath us.

Saudi Aramco launches tender for expansion of giant Manifa offshore field
Sept. 9, 2022
Source: upstream

Saudi Aramco launches tender for expansion of giant Manifa offshore field

Saudi Aramco, the world’s largest oil exporter, has fired the starting gun for the expansion of its giant Manifa offshore oilfield. Two people familiar with the bid process told Upstream that Aramco recently issued tender documents for the Manifa project to its select group of long-term agreement (LTA) players, which together compete for all of the country’s offshore brownfield and expansion projects.

Will energy crisis take toll on decarbonisation drive?
Sept. 9, 2022
Source: upstream

Will energy crisis take toll on decarbonisation drive?

As carbon capture and storage (CCS) becomes an increasing focal point for governments’ energy transition plans around the world, there is growing optimism that the UK’s first two industrial decarbonisation schemes will be in place by the mid-2020s.

Petrobras eyes carbon capture and storage solutions for Brazilian industry in change of stance
Sept. 9, 2022
Source: upstream

Petrobras eyes carbon capture and storage solutions for Brazilian industry in change of stance

Petrobras is considering the potential of offering carbon capture and storage solutions for third-party industrial emissions in its native Brazil as part of a potential diversification strategy from the company’s key upstream oil and gas operations.

As Elon Musk backs fossil fuels, one strategist sends a warning over EV sales
Sept. 7, 2022
Source: CNBC

As Elon Musk backs fossil fuels, one strategist sends a warning over EV sales

European economies are facing an energy crisis and soaring prices over the coming months. There have been concerns in some quarters that the increasing cost of charging an EV will disincentivize uptake among consumers. “The cost advantage for electric vehicles versus a gasoline car is fast diminishing here in Europe, and I’m really wondering to what degree that will begin to impact sales for EVs,” Saxo Bank’s Peter Garnry tells CNBC. Recent comments from Elon Musk about the need for more oil and gas reflect a broader concern that the uptake of electric vehicles will be hampered by rising electricity prices, according to the head of equity strategy at Saxo Bank.

Water is now seen as a precious, vital and scarce resource in the global energy sector
Sept. 7, 2022
Source: CNBC

Water is now seen as a precious, vital and scarce resource in the global energy sector

The water energy nexus refers to the close relationship between the two resources. This link has been thrown into sharp relief over recent months, especially in Europe. In an interview with CNBC last week, the CEO of Snam spoke about why it was important to value water. The link between energy production and water is of crucial importance and we need to value the latter resource far more going forward, according to the CEO of a leading gas infrastructure firm.

Karnataka: Civil contractors seek payment of dues
Sept. 5, 2022
Source: Economic Times

Karnataka: Civil contractors seek payment of dues

Contractors Dinesh Pai, Dawood, Selvam, Yogish and Prathap told reporters here on Saturday that a sum of Rs 2.56 crore is due and is yet to be paid to contractors, whose services were utilised for various work as part of the project

EU's Michel to discuss energy on Qatar trip this week: Qatari official
Sept. 5, 2022
Source: Economic Times

EU's Michel to discuss energy on Qatar trip this week: Qatari official

European governments have been seeking alternatives to gas from main supplier Russia since Moscow ordered troops into Ukraine in late February, with Europe's power costs surging as Russian flows dropped

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