The Oil and Gas Climate Initiative (OGCI) has announced a commitment of nearly $1 million to the Payne Institute for Public Policy (PIPP) at Colorado School of Mines to develop a web platform to support real-time mapping and tracking of global gas flaring data. The Global Gas Flaring Explorer platform will deliver improved monitoring, visibility and transparency
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Here are some of Rigzone’s top stories during the last week, just in case you missed them… Chevron’s Noble Deal Could Be New M&A Blueprint Chevron has struck a definitive agreement to acquire all outstanding shares of Noble Energy, Inc. in an all-stock transaction valued at $5 billion, or $10.38 per share. Read full article
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(Bloomberg) — Equinor ASA reported a surprise profit in the second quarter, helped by trading gains in chaotic markets and a tax change designed to help the Norwegian oil industry through the Covid-19 crisis. The state-controlled producer, among the first oil majors to report results for the period, could prove to be an outlier in
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(Bloomberg) — Schlumberger Ltd. posted its weakest sales in 14 years and is cutting one-fifth of its workforce while warning that new waves of Covid-19 could derail the nascent recovery in global energy demand. The second-quarter rout was so bad for Schlumberger that it’s spending $1 billion on job severance in a move that will
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(Bloomberg) — In March and April, as oil prices plunged to their lowest in a generation, Norwegian energy giant Equinor ASA was busy doing the opposite of what oil companies usually do: pumping as much crude as possible underground into giant caverns on the nation’s North Sea coast. Equinor also filled oil tankers with crude,
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A major independent operator in Argentina has awarded Weatherford International plc a two-year contract valued at $15 million, Weatherford reported Thursday. “This award is the result of years of experience and collaboration with the operator in Argentina,” Franklin Cueto, Weatherford’s vice president for Artificial Lift Systems, remarked in a written statement emailed to Rigzone. Under
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(The views and opinions expressed in this article are those of the attributed sources and do not necessarily reflect the position of Rigzone or the author.) The adage “timing is everything” seems to be particularly relevant nowadays among North American oil producers. That is one takeaway from this week’s recap of developments in the oil
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The number of rotary drilling rigs operating in the United States fell to 251 this week, Baker Hughes Co. reported Friday. The latest U.S. rig count represents a week-on-week decrease of two drilling units. It also reflects a smaller weekly decline compared to Baker Hughes’ figure for July 17, when the service company revealed the
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(Bloomberg) — A former head of Mexico’s state oil giant Petroleos Mexicanos is testifying that lawmakers were bribed to pass a 2014 reform that opened the energy sector to private investment, President Andres Manuel Lopez Obrador said on Friday. Lopez Obrador said that Emilio Lozoya, who was extradited from Spain this month to face corruption
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(Bloomberg) — Oil edged higher with a weaker dollar overshadowing signs of a slowing global economic recovery. U.S. crude futures flipped between gains and losses during Friday’s session, eventually closing higher and posting a 1.7% increase for the week. The dollar weakening to the lowest since January boosted the appeal of commodities priced in the
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July 24th, 2020 by Zachary Shahan  What’s the first country you think of when you think of battery production? UK? Of course not. But it is apparently getting a battery gigafactory. The name of the company, though I haven’t seen it before, isn’t all that surprising, though. Britishvolt will apparently build a 30 gigawatt-hour (GWh)
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July 25th, 2020 by Winter Wilson  When taking in patients for COVID-19, hospitals need ventilators. They need refrigeration for blood tests and potentially future vaccines. They need lights and monitors and running water and efficient communication. What powers it all? Electricity. “The COVID-19 pandemic has highlighted the deep inequalities around the world in terms of
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July 25th, 2020 by Saurabh  India is looking to expand its energy partnership with its southern neighbor Sri Lanka and to venture into the development of large-scale renewable energy projects in the island nation. According to media reports, India’s largest power generation company, NTPC Limited, proposed setting up a solar park in Sri Lanka. The
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