World Oil's round up of the day's Oil & Gas news; just in time for your commute home.
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Russia ready to open the OPEC+ taps as the U.S. dials back its Arctic drilling plans
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In this episode, World Oil editors discuss The North Face doubling down on its principled stand against well-paying American jobs, Russia wants to see OPEC+ production rise in February, and U.S. land regulators shrink Alaskan oil lease acreage.Por Cameron Wallace, Digital Editor at World Oil
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Biden prepares to tackle fossil fuels in the U.S. and abroad
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Joe Biden's cabinet picks, and his interest in working with China to stage elections in Venezuela, will make 2021 a transformative year for fossil fuels. Wall street is already looking at ex-U.S. energy producers take up the mantle of growth from domestic shale plays, and an increasing drilling rig count suggests operators are trying to get ahead o…
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As the world focuses on climate change targets, the Middle East doubles down on oil (with U.S. producers' help)
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With the Paris Agreement's decarbonization plans suddenly not ambitious enough for the West, key Middle East producers see an opportunity, and are putting serious money down to cover their bet. In this episode, World Oil editors take a look at how ambitious renewable energy programs will depend on oil and gas technology to come to fruition, review …
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There's something rotten in the state of Denmark's grand energy plans
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It's a tale of two cities with the EU's largest oil producer swearing off production by 2050, as OPEC+ stalwarts Saudi Arabia and the UAE grapple over who will lead the group's drive to meet the world's future oil demand. World Oil editors discuss Denmark's grand plan to lead other oil-producing nations into OPEC's pocket, and how a climbing rig co…
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Internal divisions and a historic demand split complicate OPEC's oil production plans
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When OPEC+ meets this week in Vienna to decide how and when to increase oil output, impatient member states, surging Libyan production, and Chinese demand splitting off from the West will create headaches for ministers. Also, World Oil editors discuss how Arctic drilling plans in the U.S. and Norway are being motivated less by economics and more by…
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From chess match to street fight: The world's courtrooms are the battleground for the future of fossil fuels
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In Alaska, Michigan and Norway, partisans on the left and right are sparring in the courtrooms to implement their vision for the future of energy. Operations from small shale plays to multi-billion-dollar offshore installations suddenly hang in the balance as the regulatory outlook becomes increasingly cloudy. World Oil editors discuss a few of the…
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Climbing rig counts may signal a turnaround, but that's no comfort for Exxon Mobil
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Despite increased drilling activity and strong Q3 results across the board for the supermajors, Exxon Mobil spent the week slashing headcount and planning major asset sales to meet its dividend commitments. In this week's podcast, World Oil editors take a look at where drilling activity is picking up, and what that means for the timeline of a turna…
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What the drilling rig count's ongoing climb says about the future of crude oil production
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While opinions differ on oil demand and production rates, a fourth week of growth in the rig count appears to prove some projections right, while invalidating others. World Oil editors discuss how the rig count reflects the magazine's recent Mid-Year Drilling Forecast outlook, and what more drilling means for some other industry leaders' ideas on t…
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Will a flurry of oilfield M&A activity spur innovation in fossil fuels?
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The past few weeks have seen extensive merger and acquisition activity in oil and gas, from new operators consolidating legacy field holdings to new, up-and-coming oilfield services providers. In today's podcast, World Oil editors review how these companies are positioning to drive a step change in how fossil fuels are explored and produced.…
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Despite traders' weak demand outlook, oil and gas drilling activity continues to rise
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This week, World Oil editors discuss a seeming disconnect as drilling activity across the board continues to rise, while oil traders are expecting a long road to demand recovery. Also, Venezuela and Iran flout U.S. trade sanctions with more crude and refined product shipments; and Libya's post-civil-war oil export recovery looks set to create chall…
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Political moves, both current and projected, are placing outsized influence on U.S. and Canadian oil markets
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While Canada's leaders promise measures to protect oilfield livelihoods, shale drillers in the U.S. are working to minimize the effects of a potential Biden victory. In this week's podcast, World Oil editors discuss the scope and viability of a plan in Newfoundland and Labrador to ensure a future for the offshore oil and gas sector, as well as the …
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BP makes its peak oil demand prediction amid historic drilling trends in the U.S. and abroad
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BP has boldly claimed that global oil demand will peak in the next ten years in its 2020 Energy Outlook. In this week's episode, World Oil editors discuss that prediction, BP's track record on such models in the past, and take a look at some emerging trends in the upcoming World Oil 2020 Drilling Forecast reveal how future production capacity may m…
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Are the oil industry's opportunities for post-coronavirus recovery dwindling in North America?
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In this week's podcast, World Oil editors discuss how legislative activities, a smaller labor pool, and harsh economic realities are impacting options for oil and gas sector growth in North America's post-coronavirus economy.Por Cameron Wallace, Digital Editor at World Oil
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In a post-Schlumberger world, how will the new frac services landscape change the way shale explorers operate?
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Between Halliburton and Liberty Oilfield Services, hydraulic fracturing's two major players have fundamentally different field capabilities and technology ambitions. World Oil editors Kurt Abraham and Cameron Wallace discuss how the differing strategies these two companies offer will change how operators large and small will approach future shale p…
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Are oil prices stable enough to support a U.S. shale drilling recovery?
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World Oil Editor-in-Chief Kurt Abraham and Digital Editor Cameron Wallace discuss how recent land drilling activity, and the oil price's resilience to external factors suggest that pieces may be coming into place to support the start of a U.S. shale recovery.Por Cameron Wallace, Digital Editor at World Oil
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How "lower for longer" has become the new baseline for the oil and gas industry
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As forecasts show no near-term end in sight for depressed oil demand, operators are making dramatic adjustment to meet the new oil and gas industry reality. World Oil's Kurt Abraham and Cameron Wallace discuss how another record low rig count, projections for continued demand weakness across the board, and dramatic CAPEX budget cuts demonstrate a c…
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Negative impacts of record-low drilling activity reverberate across the oil and gas industry
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From bankruptcies and asset fire sales to job losses and record declines in crude production, drilling activity levels not seen since 1940 are affecting every corner of the oil and gas industry. In today's podcast, Kurt and Cameron explore this new low-output reality, how companies large and small are maneuvering to survive, and the potential effec…
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With oil's supermajors in distress, can smaller independents step up and lead a recovery?
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A disconnect between drilling activity and supermajors' earnings may reveal a shift in industry leadership, as evidence that the oil and gas industry is reaching a bottom emerges.Por Cameron Wallace, Digital Editor at World Oil
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As the oil industry struggles, are national leaders waiting until it's too late to intervene?
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As major service companies present their Q2 earnings results, they are offering what is perhaps the industry's leas-politically-biased assessments of future oil and gas demand - and it contradicts where OPEC+ and the IEA want to lead the market in the coming quarters. In Canada, the industry's hardest-working trade association puts Ottawa's Seamus …
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What lessons are oilfield service companies applying from downturns past to succeed today?
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Using the differing fates of BJ Services and Halliburton as an example, in today's podcast Kurt and Cameron discuss how the last major downturn of the early 1990's taught service companies some harsh lessons, and their survival may hinge on how those lessons are applied in today's Covid-19 fueled downturn.…
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Is Warren Buffett's $10B natural gas spend a bet against decarbonization?
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Buffett sees a longer future for natural gas in the U.S., encouraging signs of a recovery in drilling continue to emerge, and the UK seeks to put an expiration date on internal-combustion vehicles.Por Cameron Wallace, Digital Editor at World Oil
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How might Joe Biden and his new $2 trillion climate plan affect the energy industry?
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A billion here, a billion there, and soon enough you're talking about real money... Kurt and Cameron explore Joe Biden's multi-trillion-dollar climate change plan, what it means for the energy industry, and how it compares to his previous large-scale infrastructure programs. (Spoiler: there's a reason you won't hear him say "shovel-ready jobs" on t…
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As the U.S. drilling decline continues, Canada's offshore industry puts Ottawa on the spot
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In today's episode, World Oil Editor-in-Chief Kurt Abraham and Digital Editor Cameron Wallace review new drilling rig count numbers that look like they need to get a little worse before they get better; take a look at now Canada's offshore Newfoundland & Labrador trade association, Noia, is offering a textbook example of how to push for government …
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Warren Buffet picks up the pieces as the U.S. oil industry is battered by legal, regulatory and financial challenges
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World Oil Editor-in-Chief Kurt Abarham and Digital Editor Cameron Wallace discuss the near- and longer-term effects of the Dakota Access pipeline shutdown on U.S. shale, legal precedents being set and who stands to benefit. Also, Pemex appears to be tightening its grip around the neck of the golden goose that is Mexico's oil and gas industry.…
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Is the drilling rig count finding a bottom?
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As the working rig count reaches historic lows, World Oil Editor-in-Chief Kurt Abraham and Digital Editor Cameron Wallace take a look at what it means for future production and inevitable consolidations to follow. Can technical innovation lead the industry out of the wilderness?Por Cameron Wallace, Digital Editor at World Oil
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As oil demand sentiments diverge on a national and an operator level, are production plans evolving to keep pace?
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From OPEC stalwarts down to individual producing companies, oil price and demand projections are dividing into two separate camps. World Oil's editors review some of these key differences, and what they mean for crude production plans.Por Cameron Wallace, Digital Editor at World Oil
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Are crude production models ignoring rig count and oil price realities?
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World Oil Editor-in-Chief Kurt Abraham and Digital Editor Cameron Wallace review the Dallas Fed's recent oil production survey, and discover a "split personality" between production estimate and pricing models that could lead to an oil supply shock in 2021. Service companies' role in record-breaking U.S. oil production rates, as well as Russia's mo…
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U.S. crude finds new markets as shale producers enter a critical phase
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A key element of Australia's LNG ambitions is up for grabs, OPEC+ compliance drives buyers to U.S. crude, Deloitte projects a challenging earnings season for shale, and New Mexico's state budget feels the sting of low oil prices.Por Cameron Wallace, Digital Editor at World Oil
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As oilfield job losses mount, is a resurgence in U.S. shale production on the horizon?
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Kurt and Cameron explore PESA's research into oil and gas job losses and their impact on the economy, what new rig count numbers mean for oilfield service companies, and the potential for Continental Resources to lead another U.S. shale production trend.Por Cameron Wallace, Digital Editor at World Oil
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Kurt and Cameron explore the potential impact of gas flaring reforms in Texas, what a "new normal" might be for global demand, and why IEA and EIA projections diverge.Por Cameron Wallace, Digital Editor at World Oil
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Weekly Preview: Are Chesapeake's fortunes the end of an era in U.S. shale?
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A new green energy era begins in the North Sea as the U.S. shale market transforms, and slumping rig counts question the industry's ability to respond to an increase in oil demand.Por Cameron Wallace, Digital Editor at World Oil
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Kurt and Cameron review the impact of the new OPEC+ deal on oil prices, suppliers, buyers, U.S. shale operators and more.Por Cameron Wallace, Digital Editor at World Oil
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Weekly Preview: Risks and rewards in the new OPEC+ deal
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On Saturday. the OPEC+ alliance ratified its agreement to extend oil production cuts through the end of July. That agreement has a lot of moving parts, and it relies on strict compliance from countries that don’t have a good track record of adhering to quotas. The deal also represents a new, more sophisticated approach by the cartel to proactively …
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Kurt and Cameron discuss some bold hypotheses for an accelerated OPEC+ meeting this week, along with potentially troubled waters for the global natural gas market.Por Cameron Wallace, Digital Editor at World Oil
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Our look ahead the coming week, including how drillers' ability to react to a demand increase could be impacted by technical and human capital limitations.Por Cameron Wallace, Digital Editor at World Oil
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We discuss how talent acquisition, career development and diversity will evolve in the energy sector post-pandemic, with Airswift CEO Janette Marx.Por Cameron Wallace, Digital Editor at World Oil
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World Oil Editor-in-Chief Kurt Abraham reviews Canadian trade associations' proactive efforts to support oil and gas operations, and that strategy's importance in the face of new IEA comments.Por Cameron Wallace, Digital Editor at World Oil
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Key trends for the coming week, including how industry groups' response to low oil prices differ dramatically in the U.S. versus other producing nations, China's big plans for its economy, and investment analysts turning their backs on key sectors of the industry.Por Cameron Wallace, Digital Editor at World Oil
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Mr. Arindam Das, head of consulting at Westwood Global Energy Group, discusses where energy sector companies must focus to meet capital markets' new expectations, both to survive the downturn and to act advantageously as stabilizing markets present new opportunities. Understanding how capital markets gauge companies' investment value after the oil …
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Analyst and author Simon Watkins discusses the real result of Saudi Arabia's production cuts, how recovering global markets impact large and small shale players differently, and what that means for the future of the industry. What were the Saudis' true motivations for production cuts; The cuts' financial impacts to the kingdom, and dwindling option…
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Oil reaches its highest price since March, which could lead to a new production imbalance, and Oxy is left holding the bag on a major asset sale.Por Cameron Wallace, Digital Editor at World Oil
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Key trends for the coming week, including a couple of wild cards that could threaten the recovering global oil price and production balance. View the EIA's projections of depressed U.S. oil production and rig counts through 2021. View Craig Fleming's summary of Noia's town hall on threats to Canadian offshore production.…
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In today’s oil and gas operations, remote connectivity is not only making operations more cost effective, but it’s also making significant improvements in the health, safety, and well-being of personnel in the field. Thanks to new developments in satellite connectivity, advances that were once only technically and financially feasible for offshore …
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We look at the emerging evidence that production cuts are working, and how this is impacting oil prices.Por Cameron Wallace, Digital Editor at World Oil
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A look at the trends for the coming week, including how production cuts are affecting near-term supply worldwide, where we can anticipate demand growth to start taking place first, and just what it will take from an operational standpoint to restart production.Por Cameron Wallace, Digital Editor at World Oil
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Arindam Das, Head of Consulting at Westwood Global Energy Group shares his insights on the near-term outlook for M&A activity in the oil and gas sector on today's show.Por Cameron Wallace, Digital Editor at World Oil
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Kurt and Cameron discuss more service company layoffs in Texas, the final outcome on prorationing, and what is likely to happen in shale plays as the crude demand decline levels off. Find the Texas Railroad Commission's Blue Ribbon Task Force report here: http://freepdfhosting.com/783dce9154.pdfPor Cameron Wallace, Digital Editor at World Oil
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OTC announces its Spotlight on New Technology winners for 2020, Russia's ship has come in for Nord Stream 2, Shell finds a cash buyer for its Appalachian shale assets, plans to limit production in Texas are pronounced dead, and oil prices start the week off on a slightly-higher note.Por Cameron Wallace, Digital Editor at World Oil
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In today's episode, Kurt and Cameron discuss OPEC's record-breaking output right before its vaunted production cuts take effect, Brazil finds itself in an enviable position relative to storage and demand, Texas Railroad Commission chair Wayne Christian releases an op-ed that would seem to render their upcoming vote on proration moot, and supermajor…
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The worldwide coronavirus pandemic is affecting how oil and gas companies do business day-to-day, from dealing with social distancing challenges to maintaining efficient operations in the face of whipsawing commodity prices. Perhaps one of the biggest obstacles lies in the need to protect employee health by respecting quarantine rules, while keepin…
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