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US upstream news

Total ends membership of API

Total has said that API's climate positions were only "partially aligned" with its own.

 

EIA expects US fossil fuel production to increase through 2022

The US Energy Information Administration expects production of all fossil fuels – crude oil, coal, dry natural gas, and natural gas plant liquids – to increase in 2022, but forecast fossil fuel production will remain lower than the 2019 peak.

 
 
 
 
 
 

Oil back to gains on Covid-19 vaccine confidence

Oil prices reversed early losses on Wednesday as some confidence that the existing vaccines can counter the new Covid-19 strain offset concerns over President Trump’s stimulus package pushback.

 
 

Shell writes down assets again

Shell has said it will write down the value of oil and gas assets by US$3.5 billion to US$4.5 billion.