Plus, Australia finally tops world LNG stage, a new offshore exploration lawsuit emerges in the U.S. and 25 Influential Women in Energy announced.
The global oil market could move into deficit sooner than expected, thanks to OPEC’s output agreement with Russia and others and to Canada’s decision to cut supply, the International Energy Agency said on Dec. 13
Total remains committed to the Australian Ichthys LNG project and the French company would be holding on to its remaining 26% stake in Ichthys, says a company exec.
The U.S. is primed for what many have called “energy independence,” but at what cost?
Oil producer cartel OPEC and its partners will need to keep production lower than their agreed target through 2019 for benchmark Brent crude to come back to $70 a barrel (bbl), oil and gas consultancy Rystad Energy said.
A shale revolution has helped the U.S. produce a record amount of oil this year and topple Russia and Saudi Arabia as the world's biggest producer.
Chevron made several leadership changes on Dec. 10 including naming Dale Walsh as the company’s next vice president of corporate affairs and Navin Mahajan as vice president and treasurer.
Average world temperatures are on course to far exceed the main goal set in the 2015 Paris Agreement on limiting global warming, a study showed on Dec. 11.
Brent rose $1.88/bbl last week to average $61.41/bbl. WTI rose $1.47/bbl last week to average $52.64/bbl.
Benchmark Brent oil edged up on Dec. 7 after indications Russia would contribute a bigger output cut than previously suggested to an OPEC and non-OPEC deal, although prospects for an overall agreement still hung in the balance.