The four-week rolling average of US crude oil export volumes has not fallen below 2 million bpd during the past three years, despite the COVID-19 pandemic.
ESAI has examined vaccination trends in the top 25 oil-consuming countries, looking at case load, vaccine access, vaccine hesitation and government actions, in order to forecast vaccination rates and determine when the likelihood of lockdowns and diminished economic activity should drop considerably.
The 23rd World Petroleum Congress continues to expand and build participation from key global energy leaders and companies, with the announcement of several new plenary speakers including Bernard Looney, CEO, bp, Amin H. Nasser, President and CEO, Saudi Aramco, and Anders Opedal, President and CEO, Equinor.
According to GlobalData’s latest report, ‘Bakken Shale in the US, 2021 – Oil and Gas Shale Market Analysis and Outlook to 2025’, Bakken Shale accounted for a mere 11% of oil and 2.8% of natural gas production in the US Lower 48 for 2020, which is a drop from 12% for crude oil and 3% for natural gas in 2019.
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The Petroleum Industry Bill aims to reposition Nigeria's petroleum sector as an attractive investment destination as the energy transition intensifies competition for capital.
Rystad Energy expects FPSO awards to reach a total of 10 units in 2021, with another 10 following next year.
The European oil majors benefited dramatically from elevated oil and gas prices in 1Q21 as income returned to near pre-pandemic levels, says GlobalData.
Global oil demand is set to return to pre-pandemic levels by the end of 2022, according to the International Energy Agency's latest monthly oil report.
Wood Mackenzie’s Ed Crooks has commented on the issues facing Big Oil as investor pressure and court challenges over climate change grow.
With the East African Oil Pipeline project recently getting the go-ahead, Uganda is set to produce its first oil as early as 2025 and production in the next five years is expected to jump to 230 000 bpd, from zero in 2021, according to GlobalData.
In order to maintain the same level of production in the mid-term, the country needs to stimulate the exploration sector and pour investments in less explored areas such as deepwater offshore T&T, says GlobalData.