Petroleum Economist
Discover the best of Calgary with the WPC leisure tours
Situated in the foothills east of the Canadian Rockies, Calgary is home to beautiful scenery, festivals and a variety of fun and interesting activities. The 24th World Petroleum Congress will be running an Accompanying Person and Leisure Tour programme so that delegates can make the most of their trip.
Dwindling feedgas threatens Brunei LNG
The decades-long project needs new sources of gas, but territorial disputes with Malaysia are complicating matters
ADNOC and Occidental collaborate on CCS and DAC
Strategic agreement includes evaluation of first megaton direct air capture project outside US
Canberra stokes Tokyo’s LNG concerns
Talks between the trading partners reveal growing tension over the potential impact on LNG flows of domestic Australian policies
California LCFS market braced for stricter targets
Low Carbon Fuel Standard credit prices bottoming out despite continued surge in renewable diesel supply
Wood secures new global agreement with Shell
Scotland-based consulting and engineering firm to support oil major’s global energy transition projects under new three-year deal
China pumps record crude despite economic headwinds
Record domestic production and high imports contrast with weak economic growth to raise the question of how much more crude China can store
Eni banks on gas for transition future
The Italian major continues to reorientate its portfolio to focus on gas
Olympus deal is key first for RSG market
Long-term deal signed by Olympus Energy marks breakthrough for emerging market for responsibly sourced gas
Eni and Stanlow study CO₂ import potential
Open access terminal in northwest England would receive CO₂ shipped in from multiple locations
Shifting sands alter balance of power in Middle East
The region’s political situation and internal relationships are changing amid the growing influence of Russia and China
Optimism despite setbacks in NL offshore
The province’s government remains positive about the future of its offshore industry despite recent difficulties
UK CCS strategy moves forward
But concerns over storage and the government’s long-term plans still need to be ad-dressed, say industry bodies
US selects DAC projects for $1.2b funding
Climeworks and Occidental subsidiary 1PointFive among developers set for talks with US Department of Energy over first tranche of funding for large-scale projects
Denmark pauses North Sea storage tender
Second-round tender put on hold amid uncertainty over Danish state’s shareholding in future licences
Explorers return to Libya despite fragile security
Peace means progress for Libya’s upstream, but disruption is never far away
Wintershall breaks into UK CCS market
German independent oil and gas firm secures licence to develop storage in Camelot area of North Sea in breakthrough for its growing carbon management business
Occidental to buy DAC specialist Carbon Engineering for $1.1b
US oil company agrees to acquire Canadian developer in move to accelerate cost reductions and deployment of direct air capture technology
Forecasts of oil sands’ demise greatly exaggerated
Canadian regulator the CER’s Global Net-Zero scenario paints a gloomy picture for the oil sands, but the analysis may be fundamentally flawed
Europe’s gas pivot and Asian demand boost global midstream
Europe has been hastily building out LNG and pipeline capacity since Russia’s invasion of Ukraine, while demand is rising in Asia
African lenders back Angolan refinery
Efforts by African institutions and others to push development in the continent appear to be gaining momentum
Porthos counts costs of construction delays
Netherlands’ flagship CCS project targets 2026 start up after legal challenge derails original construction timetable
Green steel at scale 'decades away' – BHP
High cost of hydrogen and CCS will hamper uptake by the steel sector, Australian mining group says
Finalists announced for WPC Energy Excellence Awards
The triennial awards will be presented at a lunched during the 24th World Petroleum Congress on 21 September 2023 in Calgary, Canada
US Gulf continues to refine hurricane response
Another Atlantic hurricane season is well underway and expected to peak in September, while the oil and gas industry on the US Gulf Coast continues to watch the weather with caution
US eyes funding to scale up CO₂ transport system
Buildout of infrastructure over next decade needed to keep pace with rapid growth of country’s CCS sector
LNG industry’s faith unwavering on Asian demand
The number of supply projects under construction around the world suggests developers and buyers believe in decades of future growth
Asia’s LNG approach evolves
Asia learns energy security lessons after counting the costs from the destination flexibility of LNG
Maurel & Prom acquires independent Assala
The French firm confirms its position in Gabon