Management
The ruling means the state will take over permitting and enforcement of EPA regulations pertaining to all classes of wells, including injection wells for carbon dioxide storage.
Proposed and final notices of sale represent nearly 80 million acres in the Gulf of Mexico and approximately 1 million acres in Alaska’s Cook Inlet.
The US and UK sanctioned Russian independent Lukoil International and state-owned Rosneft in a bid to pressure Russia over Ukraine.
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Westwood Global Energy’s analysis looks at production, cost, and revenue estimates in the UK and Norway, should oil prices remain low. The research group also provided an outlook on drilling activity. -
Energy research groups Wood Mackenzie and Rystad Energy say improvements in operations costs since the last downturn 5–6 years ago have made it difficult for companies to make further reductions amid the current drop in demand.
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Results of the survey will provide support for the UK’s initiatives to help businesses affected by the industry downturn and the COVID-19 pandemic.
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ExxonMobil and Halliburton made additional cuts in spending and personnel.
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Golden parachutes typically pay executives big money if they are fired without cause. Whiting Petroleum executives found a way to collect theirs for staying on board after the company they led filed for bankruptcy.
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UK North Sea oil and gas production is set to be maintained at normal levels despite the industry moving to "minimal manning" of offshore facilities in the face of the COVID-19 pandemic, trade body Oil and Gas UK's health and safety director, Trevor Stapleton, said.
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Amid continued health and travel concerns, the OTC Board of Directors felt this decision was the most feasible and responsible.
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The drop in gas prices, although greater than forecast, will not be to the same extent as oil prices.
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The Denver-based shale producer is the first to cite the ongoing price war and COVID-19 pandemic as the triggers for its insolvency.
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Sandvik and SNC-Lavalin made similar announcements in late March and would take further action if necessary.
