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Oil's Journey from Worthless in the Pandemic to $100 a Barrel

Feb 25, 2022

In July 2020, just a few months after the COVID-19 pandemic started to spiral out of control, Shell CEO Ben van Beurden declared world oil demand may have passed its peak - all but condemning his company's core business to eventual obscurity.'Demand will take a long time to recover if it recovers at all,' he told reporters after the Anglo-Dutch energy company reported a sharp drop in second-quarter profit…

Australia's LNG Industry Takes Risky Bet on Carbon Capture: Russell

May 18, 2022

Australia's vast liquefied natural gas (LNG) sector is betting its future on carbon capture and storage (CCS), a technology it says is vital to decarbonization and is proven.Convincing everybody else is going to be the tricky part, especially…

What’s Happened to Teras Offshore's Liftboat Fleet?

Feb 09, 2022

Teras Offshore, once a notorious ‘‘big boy’’ in Singapore’s offshore oil & gas market and owning a varied fleet of liftboats, jack-ups, and small AHTs, has recently been forced to close its doors for good and put an end to years of suffering and losses…

Inside OPEC, Views are Growing That Oil's Rally Could be Prolonged

Jan 19, 2022

Oil's rally may extend further in the next few months due to recovering demand and limited capacity in OPEC+ to add supply and prices could break $100 a barrel, OPEC officials have told Reuters.Oil last traded at $100 a barrel in 2014, after averaging $110 a barrel over the previous two years…

Asia’s Demand Engine Fires Up Global LNG supply

Dec 02, 2021

In announcing project sanction on the Scarborough and Pluto Train 2 project last week, Woodside CEO Meg O’Neill emphasized that as well as being both low carbon and globally cost-competitive, it was the strength of demand  “particularly in our…

Woodside's Giant Scarborough LNG Project May Be the Last of Its Type

Nov 23, 2021

For the first time in a decade, a massive new liquefied natural gas (LNG) project has been approved for construction in Australia, but the Scarborough venture's structure and market realities indicate it may well be the last of its kind.Woodside…

More Net than Zero: Do Carbon-cutting Promises Add Up for the Climate?

Nov 09, 2021

The growing avalanche of governments and companies committing to cut their climate-changing carbon pollution to net zero now covers 88% of global emissions, according to a tracker run by leading climate analysis groups.But those pledges do not…

BP Gambles Big on Fast Transition from Oil to Renewables

Sep 20, 2021

Deep in the Oman desert lies one of BP's more lucrative projects, a mass of steel pipes and cooling towers that showcases the British energy giant's pioneering natural gas extraction technology.The facility earned BP Plc more than $650 million in profits in 2019…

OPEC+ Deal to Boost Output to End Talks of $100 a Barrel Oil

Jul 20, 2021

The OPEC+ deal to boost crude oil output from August was always the most likely outcome to the producer group's earlier impasse, and it should be enough to end market talk of $100 a barrel oil, at least for now.OPEC+ ministers agreed on Sunday to boost production by 400…

China's CNOOC Dives into Uncharted Deep Waters in Bold Gas Pivot

Jul 09, 2021

When the first gas from CNOOC Ltd's new ultra-deep field in the South China Sea started flowing in late June to the world's largest customized floating platform 1,500 meters above the sea bed, it marked a key phase in China's gas drive.For CNOOC…

COLUMN - Crude Oil Industry is Starting to Hear Echoes of Coal's Demise

Sep 17, 2020

If 2020 had been anything close to a normal year, the oil and gas industry would have just wrapped up its annual gathering in Singapore, most likely reassured of its ongoing essential role in humanity's future.But this is far from a normal year…

How Will the Asia Pacific Upstream Sector Emerge from the Crisis?

Jun 17, 2020

The oil price crash has transformed the outlook for the region’s E&P sector. Globally, governments and operators have been forced into action to rework investment plans in response to the dual impact of the precipitous fall in both demand and oil prices…

Decommissioning Gets into Deep Water in GoM

Nov 08, 2018

LOC Group’s Houston office provides perspective on decommissioning developments in the Gulf of Mexico.The Gulf of Mexico basin covers approximately 1.6 million km2 and is one of the most important petroleum production regions in the world. A…

Current News

More Than Two Dozen Missing after Ship Snaps in Two, Sinks Off Hong Kong

More Than Two Dozen Missing after Ship Snaps in Two, Sinks Off Hong Kong

Russia's Control of Sakhalin Project Could Pose Upside Risk to LNG Prices

Russia's Control of Sakhalin Project Could Pose Upside Risk to LNG Prices

Portugal's EDP to Scale Up Offshore Solar Plants in Southeast Asia

Portugal's EDP to Scale Up Offshore Solar Plants in Southeast Asia

India Imposes A Windfall Tax On Oil Producers and Export Duties For Oil Products

India Imposes A Windfall Tax On Oil Producers and Export Duties For Oil Products

Russia to Replace Sakhalin-2 Project Operator with New Firm

Russia to Replace Sakhalin-2 Project Operator with New Firm

State Agency Wants Net-zero Carbon Emissions from Australia's Giant LNG Plant

State Agency Wants Net-zero Carbon Emissions from Australia's Giant LNG Plant

Gazprom Cancels Dividend for First Time Since 1998. Shares Drop

Gazprom Cancels Dividend for First Time Since 1998. Shares Drop
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