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Permian methane emissions dropped 50% in two years, analysts say

Oil & Gas 360º

oil production and one fifth of natural gas—declined by more than 50% during the 2022-2024 period as improved operations, better equipment and the utilization of AI and other advanced technologies led to reductions across all observable plume rates (large and small), according to a new analysis by S&P Global Commodity Insights.

E&P 130
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Global LNG production will drive supply surge in 2026, says IEA

Oil & Gas 360º

Since the energy crisis in 2022 — when Europe lost most pipeline flows from Russia — countries across the globe have competed for a relatively tight pool of global LNG supply. 2026 will be marking the first year of the LNG wave and it will be also in a way a test how demand responds to the stronger growth, especially in Asia.”

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Investor confidence fuels nuclear fusion frenzy

Oil & Gas 360º

billion in the year to July, the most since 2022, the Fusion Industry Association said in a new report on Tuesday, noting that the growth in funding for fusion energy companies “is the most striking indicator of the industry’s accelerating trajectory.” (Oil Price) – Investments in fusion technology have jumped by $2.6

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The First Oil Well in the World – Bibi Heybat

Aresco

This ancient oil field is widely regarded as the location of the first mechanically drilled oil well in the world, predating Drake’s well by several years. Some of the world’s most prominent families and business magnates – including the Nobel brothers and Rothschilds – invested heavily in Baku’s oil fields.

Oil 111
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TotalEnergies, QatarEnergy Win Exploration License in Algeria

Rigzone

“This Memorandum of Understanding outlines the realization of a work program for the appraisal and development of gas resources in the North-East Timimoun region, in synergy with existing processing facilities for production from the Timimoun field, to reduce costs and emissions”, TotalEnergies said in a press release April 8, 2024.

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Petronas to Cut 10 Pct of Workforce on Profit Slump

Rigzone

“The margins are shrinking, the fields are getting smaller,” Taufik said. billion) in dividends this year, down from 50 billion ringgit in 2022. To achieve that, Petronas is looking for opportunities abroad as fields at home shrink. Petronas will also freeze hiring until December 2026, he said. WHAT DO YOU THINK?

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The Iberian green industrial opportunity: Carbon capture and storage

McKinsey

In 2022, the three main HtA industries—cement, steel, and chemicals—contributed over 8 percent of the industrial sector’s total direct gross value added (GVA) for Iberia and provided 300,000 direct jobs. “Gross value added and income by detailed industry (NACE Rev.2),” 2 two digit level)—1000,” Eurostat, accessed June 2024.