Nations may be working to transition to net-zero carbon, but recent events prove that it will be decades before oil and gas are replaced by alternative energies, according to IHS Markit Vice Chairman Daniel Yergin.
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Freeport LNG CEO Questions Growing Reliance on Spot Cargoes After Volatile Winter
The cold snap earlier this winter in Asia and Europe that sent prices skyrocketing and buyers scrambling for liquefied natural gas (LNG) cargoes was an indication that the global market is becoming too reliant on spot deliveries, said Freeport LNG CEO Michael Smith. “There’s been an overreliance on spot cargoes in our industry,” he said…
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Virus Infiltrating Energy Industry Beyond Slumping Natural Gas, Oil Price Forecasts
The global natural gas and oil industry, already reeling from a lack of demand and low commodity prices, is now taking a hit on the conference schedule because of the spreading coronavirus, with IHS Markit announcing Sunday it is canceling CERAWeek, the premier energy conference that draws thousands to Houston every year.
Big Oil, Gas Already Enlisting in Rise of the Machines
Data, considered by many to be the world’s most valuable resource, is offering the oil and gas industry more precise information to create better wells and safer operations, an Amazon executive said earlier this month.
Global LNG Trading Gaining Another Platform for Physical Cargoes
Australia-based GLX, an online trading platform for liquefied natural gas (LNG), plans to work with the energy price-reporting arm of IHS Markit to start up an end-to-end trading solution to transact physical cargoes.
Chevron Eyes Controlling Permian Ops Remotely as Machine Learning Expands
Drilling some Permian Basin wells from the confines of air-conditioned control rooms in Houston nearly 500 miles away is becoming a reality for Chevron Corp. as it integrates cloud computing into its operations.
ConocoPhillips Taking Turtle-Over-Hare Approach in Lower 48
Slow and steady wins the race, an approach that ConocoPhillips is using to develop the Eagle Ford Shale and Permian Basin to ensure it can keep up with ever evolving technology, CEO Ryan Lance said Tuesday.
GOP-Backed Border Adjustment Tax Draws Fire From Energy Execs, Lawmakers
The Trump administration has signaled it is eyeing a border adjustment tax (BAT) to give U.S. exports more leverage over goods imported into the country, but an increasing number of key lawmakers and stakeholders — including No. 1 trading partner, Canada — are throwing cold water on the plan.
IHS CERAWeek: ExxonMobil CEO Says ‘Historic’ Energy Makeover Under Way
ExxonMobil Corp. CEO Rex Tillerson on Friday said North America is in the midst of an “historic energy transformation.” And “the world is watching.”
IHS CERAWeek: CEOs Urge Industry Image Makeover
Global energy CEOs, who joined their brethren at the 31st annual IHS CERAWeek 2012 in Houston last week, urged their colleagues to dust up their images and become more proactive in exceeding regulatory safety standards.