Renewable energy has surged to capture a record share of global electricity generation, seizing more market share during the coronavirus downturn. The steep drop in electricity demand, down by more than a fifth in some parts of the world, has hit energy producers everywhere.
Neptune Energy announced the safe and successful installation of subsea oil and gas production flowlines and gas lift flowlines for its Duva & Gjøa P1 developments in the Norwegian sector of the North Sea.
The Interstate Oil and Gas Compact Commission (IOGCC) this week passed Railroad Commission Chairman Wayne Christian's (R - Texas) resolution urging the federal government to investigate excessive dumping of crude oil by Saudi Arabia and Russia and take appropriate action.
Australia's Santos said on Tuesday it will book non-cash impairments of up to $560 million after tax, joining a number of global energy majors forced to write down assets after a coronavirus-induced slump in oil prices.