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World oil market may be tighter than it looks, IEA says

Oil & Gas 360º

(Investing) – VIENNA -The world oil market may be tighter than it appears despite a supply and demand balance pointing to a surplus, the International Energy Agency said on Friday, as refineries ramp up processing to meet summer travel demand. The IEA, which advises industrialised countries, expects global supply to rise by 2.1

IT
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How Canada’s oil sands transformed into one of North America’s lowest-cost plays

Oil & Gas 360º

(BOE Report) – Giant shovels, driverless trucks and a dog-like robot have all helped Canada’s oil sands companies including Imperial Oil and Suncor become some of North America’s lowest-cost oil producers, driving down overheads even as the worst inflation in a generation pushed U.S. shale costs up. tariff threats.

Oil
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Equinor Hits New Discovery in Johan Castberg

Rigzone

The majority state-owned energy major put preliminary estimates for well 7720/7-DD-1H, or Drivis Tubaen, at 9-15 million barrels of oil. Drivis Tubaen is the 14th exploration well drilled in production license 532, awarded 2009, according to Equinor. MORE FROM THIS AUTHOR Jov Onsat Editor OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX!

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The Iberian green industrial opportunity: Carbon capture and storage

McKinsey

10 “CO 2 storage projects in Europe,” International Association of Oil and Gas Producers, March 2024. This mature technology has a long operational history in the oil and gas industry and is the most commonly used option for short to medium distances. In addition, most of Europe’s depleted oil and gas fields are located at sea.

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Petrel Resources Updates on Iraqi Prospects

Iraq Business News: Oil & Gas

It adds: "Title to oil and gas assets in Ghana and Iraq can be complex. Regarding prospects in Iraq, the company said: " An early opportunity may lie in projects to recover and monetise flared gas with contained liquids in southern Iraqi oil-fields. The company's accounts show no assets or liabilities in Iraq.

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Idaho Power 20-Year Plan Aims to Add 2.15 GW of RE Capacity

Rigzone

“Idaho Power’s IRP analysis has shown consistent need for transmission dating back to 2009 and the 2025 IRP again includes transmission as a cost-effective way to facilitate regional energy exchange and provide capacity and energy for Idaho Power customers”, Idaho Power says. All comments are subject to editorial review.

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BP Appoints Shell Veteran to Board

Rigzone

During his over 35 years with Shell, Henry held senior finance and management positions worldwide, serving as chief financial officer and board member from 2009 to 2017, BP noted. MORE FROM THIS AUTHOR Paul Anderson Writer OIL, GAS & ENERGY NEWS STRAIGHT TO YOUR INBOX! There’s a reason 700K+ energy professionals have subscribed.