NorthAmOil - North America Oil & Gas

Global heating could exceed 3°C by end of century, say researchers

Methane emissions are rising faster than ever before, says new research led by Stanford University. The problem is so dire that global heating could exceed 3°C by the end of century, a level at which there would be chaos at an unprecedented level.

Mexican billionaire Carlos Slim is now the largest investor in Houston-based Talos Energy

Shell accuses Venture Global of wrongfully earning $3.5bn in contracted cargoes dispute

US LNG upstart Venture Global has been accused by Shell of “wrongfully earning” $3.5bn through failing to supply contracted shipments to foundation customers.

Equinor continues exploring off Newfoundland

Norway’s Equinor is continuing to explore off Newfoundland despite in the spring of 2023 unexpectedly shelving the $12bn Bay du Nord project in the Flemish Pass for up to three years.

Venture Global’s Plaquemines gets approval to begin start-up

US Venture Global LNG has received the green light from federal regulators to commence preparations at its Plaquemines export terminal for the start-up of LNG equipment.

US federal court overseer seeks to block additional lawsuits in Citgo auction

The court-appointed officer overseeing the auction of shares in Citgo Petroleum's parent company has requested that the judge prevent creditors from pursuing additional lawsuits that could disrupt the sales process.

ADNOC buys stake in ExxonMobil's Baytown project

Abu Dhabi National Oil Co. (ADNOC) has signed an agreement to acquire a 35% equity stake in ExxonMobil’s proposed low-carbon hydrogen and ammonia production facility in Baytown, Texas.

OPEC+ delays planned unwinding of cuts amid pressures

In June, eight members, including Saudi Arabia, Russia, Iraq and the UAE, said that they would begin unwinding some of their “voluntary” cuts from October.

AEC attends AAPG conference to promote African oil and gas opportunities

Premium energy basins: Focus on emissions reduction as oil and gas demand persists [Energy Insights]

Despite the accelerating energy transition, oil and gas will remain central to the global energy mix for the foreseeable future as the key hydrocarbon sources continue to satisfy global primary energy demand.

Venezuela emerges as key US crude oil supplier

Venezuela has become a significant player in the US crude oil market, rising to fifth place among exporters to the United States in June, according to data from the US Energy Information Administration (EIA).

Shell to cut 20% of exploration staff as CEO expands cost-saving drive to core oil business

CEO Wael Sawan is targeting a 20% cut in these divisions, extending his cost-saving initiatives beyond the previously affected renewables and low-carbon segments.