Norwegian oil and gas company Equinor has discovered gas and condensate in the exploration well 30/2-5 S Atlantis, in the North Sea, offshore Norway.

With a projected budget breakeven oil price of US$69.1 per barrel of Brent this year, according to IMF figures, but accounting for around 96.8 per cent of the UAE’s 98 billion barrels of proved oil reserves (the seventh-largest in the world), Abu Dhabi’s post-oil war position is not quite as bad as many of its OPEC and OPEC+ fellow members.

It was once the center of America’s shale boom -- a vast reservoir of crude unleashed by hydraulic fracturing and horizontal drilling, turning North Dakota into the second-largest oil producer in the U.S. and helping transform the nation into the world’s largest supplier.

The shale industry is getting at least $2.4 billion in loans from the U.S. government’s Paycheck Protection Program aimed at helping businesses that are struggling with the impact of the coronavirus pandemic.

Eni SpA became the latest oil company to cut its long-term price assumptions, saying the coronavirus pandemic would have a lasting impact on the industry.

Italian energy group Eni said it would write off around 3.5 billion euros ($4 billion) from the value of its assets after revising down its long-term outlook for oil and gas prices due to economic fallout from the COVID-19 crisis.

Europe’s oil giants came into 2020 promising shareholders they can “do it all” -- maintain generous dividends, keep the crude flowing and make a historic shift toward clean energy. Only one of them may succeed.

Six years after scarring price collapse, reduced demand is placing very different pressures on the sector.

In the panorama of renewable energy technologies, hydrogen’s potential is seen in several sectors. It is what the IEA calls an ‘integration’ technology. It promises to play a cross-sectoral role throughout the energy system, contributing simultaneously to decarbonization in various ways. It can make clean energy sources more efficient and increase overall system flexibility.

BP Plc said it completed the sale of its Prudhoe Bay oil and gas producing properties to closely-held Hilcorp Energy, ending 60 years as a top Alaskan oil producer.