(Bloomberg) – Oil prices slid and volatility surged as traders fled risk and tried to come to grips with how the biggest U.S. bank collapse since 2008 would reverberate through the economy. Brent, the global benchmark, fell below $80 for the first time since early February as investors fled risk assets and poured into safer bets but recover...

(Bloomberg) — The World Bank will support the development of Mozambique’s giant natural gas resources if it’s the cheapest way to boost energy security in one of the world’s poorest nations, according to an official. The Washington-based lender in 2019 stopped financing oil and gas extraction projects, aside from “exceptional circum...

(Bloomberg) — President Joe Biden is limiting oil leasing in Arctic waters and sensitive areas of Alaska, taking steps to expand conservation as his administration prepares to approve a mammoth ConocoPhillips oil development in the region. Biden is expanding an Obama-era ban on new oil and gas leasing in U.S. Arctic waters and will write ne...

(Bloomberg) — India will not breach Western sanctions on Russia, including the price cap of $60 imposed on purchases of oil from Moscow, according to people familiar with the matter. Government authorities have asked banks and traders to adhere to the rules, the people said, declining to be identified as the information isn’t public. Indi...

(Bloomberg) — The Biden administration has decided to authorize a ConocoPhillips oil project in northwest Alaska, rejecting arguments from environmental activists who insist it will exacerbate climate change, according to people familiar with the matter. After weeks of deliberations, senior advisers have signed off on the move, which repres...

(WO) – Surus Inversa, through its specialized digital platform Escrapalia, has launched a public auction of 1,490 tons of pipes, casings and auxiliary material. This is surplus drilling material, which has not been used, from the Houston facilities of a Spanish global multi-energy company. The auction, digitally available at international l...

(Bloomberg) – Despite the exodus of almost every Western oil company, Russia can maintain crude oil production longer than many expect, according to S&P Global Vice Chairman Dan Yergin. “There’s going to be a decline but it’s going to be a slower decline,” Yergin told Bloomberg TV at the CERAWeek by S&P Global conference in Houston...

The Independent Petroleum Association of America (IPAA) is supportive of multiple House bills that will be marked up in hearings in the Energy and Commerce Committee and the House Natural Resources Committee. In the Energy and Commerce Committee, IPAA supports the “Protecting American Energy Production Act” sponsored by Congressman Duncan (R-SC...

(WO) – North Sea flaring has been cut in half following four consecutive years of reductions driven by tough measures to make UK oil and gas production cleaner, new analysis shows. Offshore flaring fell again in 2022, by 13% to 22 Bcf of gas, contributing to a total decrease of 50% since 2018, when volumes totaled 44 Bcf. Last year’s redu...

(WO) – Global controls technology company Proserv has signed a fresh agreement with Intelligent Plant, the Aberdeen based software engineering firm and data analytics experts. The new arrangement extends a previous alliance announced in late 2020. Proserv and Intelligent Plant agreement - Davis Larssen (L) and Steve Aitken (R) That tie-up fi...