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OPEC Demands Consistency After Another IEA U-Turn

OilPrice

This weeks call from the International Energy Agency (IEA) for continued investment in existing oil and gas fields is another moment of truth for the Paris-based agency, highlighting its inconsistent messages about upstream investment, OPEC says.

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Exxon bets big on natural gas in its eighth Guyana oil project

Oil & Gas 360º

(Oil Price) –ExxonMobils eighth oil project offshore Guyana will also be the biggest natural gas development of the Exxon-led consortium in the prolific Stabroek Block. Exxon and its partners in Guyanas oil projects, U.S. Exxon announced the first Longtail discovery in June 2018.

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Are we back to fundamentals as oil prices tank further?

Oilholics Synonymous Report

For the second successive session this week oil prices have slid further and faster. Then came a revelation that OPEC - deemed the most bullish of the crude oil demand growth forecasters - had revised its prediction lower for 2024 below 2 million bpd. Photo: Oil production site. jplenio / Pixabay , 2018.

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Crude oil extraction may be well past peak

Energy Central

World crude oil extraction reached an all-time high of 84.6 million barrels per day in late 2018, and production hasn’t been able to regain that level since then. World monthly crude oil production based on data of the US Energy Information Administration (EIA).

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$80 is looking like Brent's price ceiling not the floor

Oilholics Synonymous Report

The second day of the fresh trading week has heaped yet more misery on the oil market. It means that as things stand - at least from the Oilholic's perspective - a $80 oil price is now the ceiling, and not the floor! Photo: Oil production site. Jplenio / Pixabay , 2018. More musings to follow soon.

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United States Court of Appeals Finds BOEM Environmental Impact Statement Deficient, But Declines to Vacate Leases Issued in 2018 Offshore Lease Sales

The Energy Law

In a recent opinion released by the United States Court of Appeals for the District of Columbia Circuit, the court declined to vacate a deficient environmental impact statement (“EIS”) prepared in connection with two offshore lease sales held in 2018, the records of decision announcing the sales, or the leases issued. NRC , 988 F.2d

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Real time onshore visibility on your offshore assets – digital twins in oil and gas

IFS: Oil & Gas

According to a recent report from EY analysing the Norwegian Oilfield Services in 2018, all oil and gas sectors will. The post Real time onshore visibility on your offshore assets – digital twins in oil and gas appeared first on IFS Blog.