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A new report shows that the worst of the ongoing downturn may be soon over. A gradual recovery to global oil markets is expected to begin in the next few weeks.

The planned JV is for one of three LNG terminals GCL is planning to build in China.

Even some free-market advocates are calling for regulators to step in and try to help pull them out of what feels like a chasm by setting production limits.

The deal is part of the company’s divestment program targeting proceeds of $5 to 10 billion between 2018 and 2020.

Not everybody suffers when US oil producers slash production. Among the beneficiaries could be US gas producers who will benefit because less oil production will mean a lot less gas on the US market.

Exploration commitments are expected to dwindle in the current market environment.

The Colorado Oil and Gas Conservation Commission approved an $18.25 million fine against Kerr-McGee, a subsidiary of Anadarko Petroleum, which has now been acquired by Occidental Petroleum. The money will go to establish the Mark Martinez and Joey Irwin Memorial Public Projects Fund. 

A preliminary estimate from the US National Oceanic and Atmospheric Administration finds that levels of atmospheric methane, a potent heat-trapping gas, have hit an all-time high.

The bow tie concept of safety was on display at a recent live podcast presented by SPE, where representatives from Equinor, NOV, SOS International, and the Energy Institute discussed efforts to keep offshore workers safe during the current pandemic.

Subsea 7’s installation services contract is the latest Chevron award for its Anchor field project. First oil from the project is expected in 2024.

As studies point to increased emissions, ExxonMobil is stepping up efforts to detect and mitigate methane release.

A new video by IOGP mixes animations with personal stories to illustrate the benefits of using standardized specifications in the oil and gas industry.