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EU Abandons Proposal to Lower Price Cap on Russian Oil

Rigzone

The EU proposed lowering the cap to $45 per barrel from the current $60, but oil's surge following Israel's attack on Iran has complicated efforts to find unanimity among the bloc's 27 members.

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Repsol Taps Halliburton to Support UK North Sea Operations

Rigzone

“The company will deliver a rigless intervention framework that enables Repsol Resources UK to optimize well construction, production, and intervention to maximize plug and abandonment operations”, Halliburton added. announced a deal to consolidate their UK North Sea assets.

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Valor | Energy Connection – Feb. 24, 2025

Valor

per barrel, while WTI dropped 28 cents to $70.12 per barrel, following a $2 decline on Friday. Read more BP to abandon green energy target and ramp up oil Summary : BP will abandon its plan to expand renewable energy generation 20-fold by 2030, scrapping its target of reaching 50 gigawatts (GW) and maintaining its current 8.2

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BP and Chevron Hit Oil in Deepwater Gulf of America

Rextag

We are focused on delivering more affordable and reliable energy from this region, building our capacity to over 400,000 barrels of oil equivalent per day by the end of the decade. million barrels of oil equivalent per day globally by 2030, with approximately 1 million barrels expected from the U.S. BP is also targeting 2.32.5

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Taking Carbon Captive

Permian Basin Oil and Gas Magazine

This report will address some legal issues, a current CCUS project near Odessa, new technology to economically repurpose abandoned wells and formations, and a digital approach to unitizing and managing CCUS data, also with streamlining in mind. That being so, as Jones noted, it frequently has already beenplugged and abandoned.

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Oil and Gas 2025: How Will Companies Navigate a Year of Transformation—and Why It Affects Everyone?

Rextag

OPEC+ has kept 3 million barrels per day off the market, stabilizing prices and reinforcing its role as a key market regulator. THE END OF "DRILL, BABY, DRILL": A SHIFT TOWARD DISCIPLINE The industry has largely abandoned the "drill, baby, drill" mentality, favoring a disciplined approach to capital allocation.

IT 40
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BP’s Big U-Turn: Why Is the Energy Giant Returning to Oil and Gas? Shell, Equinor, and Exxon Are Making the Same

Rextag

million barrels per day by 2030. BPs Remaining Commitments to Renewables While BP is cutting back on renewable investments, it is not abandoning green energy entirely: Wind and Carbon Capture Projects BP continues work on three UK-based offshore wind farms and carbon capture initiatives. million and 2.5

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