State oil giant Saudi Aramco has announced it will spend more than $133 billion on oil and gas drilling over the next ten years. “We will spend more than half a trillion Saudi Riyals ($133 billion) on drilling activities over the next decade,” the firm’s senior vice president for upstream Mohammed Al-Qahtani said. These plans are part of the company’s …

Royal Dutch Shell announced plans to limit methane emissions intensity, in its oil and gas businesses. With this, the company said it aims to keep emissions under 0.2 percent by 2025. In its press release, the company says that this methane target “complements Shell’s ambition to cut the Net Carbon Footprint of our energy products by around half by 2050, …

Energy company Naturgy announced the launch of its new brand, Unión Fenosa Distribución (UFD), which will be in charge of the company’s electricity distribution business in Spain. UFD will reunite all responsibilities related to electricity distribution activities in Spain. It will also handle the development, technification, and digitalization of its electricity network. According to the company’s press release, it will …

The austere tax plan created by the Macri administration has reached the rich and promising unconventional gas play Vaca Muerta. The reason for this is that gas prices set by former energy minister Juan Jose Aranguren are not in line with the Argentine government’s budget. Although Vaca Muerta is the country’s greatest investment asset, Macri will move forward with cuts …

Singaporean holding Temasek has reduced its stake in Repsol to 3.3 percent from the over 4 percent it held in late 2017, as the company announced in its website. Temasek, which at a point held a stake of over 6 percent in the Spanish oil company, has been reducing its holding by receiving the dividend in cash, Reuters reported. Repsol’s shares …

The global oil market has managed to overcome the crisis thanks to the agreement signed in Vienna in 2016; however, it is still fragile due to geopolitical conflicts, and production declines in countries like Venezuela, according to Russian Energy Minister Alexander Novak. “Today, the situation is quite fragile, of course, and it is related to the fact that not all …

According to a report prepared by the Energy Information Administration (EIA), US oil production has currently reached its highest levels and stands as the largest producer worldwide. With production averaged at 10.9 million bpd in August, production is expected to average 10.7 million bpd in 2018; up from 9.4 million in 2017, a rise of over one million barrels per …

Oil company Repsol has acquired Spanish solar power company Valdesolar Hive, a firm currently developing one of the most ambitious solar PV projects in Spain. With this purchase, Repsol now enters the solar energy market and will be in charge of managing the project that Valdesolar Hive is developing in Valdecaballeros, Badajoz. This 260 MW project with an approximate cost …

The US Energy Information Administration reported that the United States increased exports of crude oil and petroleum products in the first half of 2018, after exports of crude oil and hydrocarbon gas liquids (HGL) set record monthly highs. According to the official document, crude oil surpassed HGLs to become the largest U.S. petroleum export, with 1.8 million b/d of exports …

Mexico’s controversial president-elect Andres Manuel Lopez Obrador has committed to raising the country’s oil production to 2.6 million barrels per day during his mandate, which is set to begin on December 1. AMLO, as he is popularly referred to, has manifested his intention to recover the oil industry, which has been compromised over the past decade. “We already have a …

Russian crude production saw a slight increase in August, as compared to the previous month. The country thus continues to approach its record-high levels. The nation extracted an average of 11.21 million barrels of crude per day in August, according to the Russian Energy Minister. This production rise stems from the output surge seen last month in major Russian oil …

Colombia is promoting foreign investment in oil and gas after, in early August, the managing board of the country’s National Hydrocarbons Agency (NHA) approved the terms of reference for the so-called Permanent Competitive Process, which has modified the award procedure. The NHA has stated that this is unprecedented, as seven foreign companies nominated 42 O&G production areas in Colombia. These …