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...Before then gas was largely considered an unwanted byproduct of oil production and was usually flared on site. The LNG industry has been built on “reliability [and] long-term security” Sawan added....
...Venezuela boasts the world’s largest oil reserves, though economic mismanagement and corruption have throttled production....
...Oil and gas executives were the most likely to share this view....
...Turn2X’s modular production model could scale in sunny Italy, Greece, and Portugal, to avoid the hassle and costs of shipping, co-founder Benedikt Stolz said. Obstacles ahead . . ....
...Meanwhile, in the US, gas production has marched to new heights, depressing prices and tilting the market into oversupply. “We have too much gas....
...Last year, US production surged by 850,000 barrels of oil equivalent a day, according to Wood Mackenzie, helping to keep a lid on prices even amid swingeing Opec cuts....
...The bulk of Glencore’s emissions are classed as “scope 3” — arising from its customers’ use of commodities such as coal, oil and natural gas that it produces and trades....
...The changes reflect chief executive Wael Sawan’s plans to keep oil production flat and expand sales of liquefied natural gas while being more selective about the types of low-carbon energy products it sells...
...US production has smashed records in recent years: in November, oil output hit an unprecedented 13.3mn barrels a day, while natural gas topped 105bn cubic feet a day for the first time....
...Diamondback Energy’s $26bn deal for rival Endeavor Energy this week brought to almost $180bn the value of an oil and gas dealmaking spree that has reverberated across the US shale patch since the beginning...
...While BP insists that it is committed to cutting oil and gas production, the company has moved to slow its retreat in response to pressure from shareholders and as Russia’s full-scale invasion of Ukraine...
...co-ordination....
...Oil production is at historic lows of 1.5mn barrels a day and it is increasingly becoming a drag on the national budget....
...These have enjoyed less scrutiny than publicly traded oil majors such as ExxonMobil and Shell, though they account for more than half of global oil and gas production and nearly 60 per cent of reserves....
...The total level of emissions includes those from burning fossil fuels for energy, as well as industrial processes such as cement-making, and flaring from oil and gas....
...The rapid growth of the export industry has also provided an outlet for US gas as production breaks records....
...ExxonMobil plans to drive up capital spending over the next four years, increasing oil and gas production and raising outlays for its low-carbon energy division after a period of self-imposed austerity following...
...Brazil must consider capping oil production and exploration, the country’s environment minister has said, casting her in opposition to the government’s own plans of turning the nation into one of the biggest...
...Despite the boost in decarbonisation funding over the next six years, Adnoc aims to spend $150bn on capital expenditure mainly to expand its oil and gas production capacity over in a five year plan launched...
...“The key here is that for the very first time we will have empirical data for effectively the entire oil and gas production ecosystem,” Hamburg told journalists at a pre-launch event....
...Emissions can happen throughout the LNG value chain, from extraction and production of gas to liquefaction and shipping....
...For decades, Gulf states have built their wealth on plentiful oil and gas reserves, which have powered the global economy....
...It said the auditors assumed that Saudi Aramco could export all the refinery’s production, when in fact “any large-scale fuel exports cannot be carried out without co-operation with the state”....
...Production-line workers, quality-control assessors and machine operators seem most at risk of being replaced by AI....
...A further two companies that specialise in exploration and production have listed this year, making it the busiest year of listings in the broader oil and gas sector since 2018....
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