Category: Highlights

The Abu Dhabi National Oil Company (ADNOC) awarded a contract worth up to $519 million (AED1.9 billion) to further expand the scope of the world’s largest combined three-dimensional (3D) onshore and offshore seismic survey, which is currently taking place in the Emirate of Abu Dhabi. The expansion underscores the important role seismic surveying plays in enabling ADNOC to identify and explore new hydrocarbon resources as highlighted by the recent major discoveries of recoverable unconventional oil resources and conventional oil reserves announced by Abu Dhabi’s Supreme Petroleum Council (SPC) earlier this…

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In what appears to be a continuing spillover from Tesla’s recent contested recall of its Model S and Model X vehicles in China due to suspension issues, U.S regulators are now investigating the issue. The U.S. NHTSA announced on Friday it had opened an investigation into about 115,000 Tesla vehicles over front suspension safety issues, according to Reuters. It said it would be looking into 2015 to 2017 Model S and 2017 to 2017 Model X vehicles after having received “43 complaints alleging failure of the left or right front…

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Japan, South Korea and a fleet of international shipping groups have warned the European Union against its plan to add greenhouse gas emissions from the maritime sector to Europe’s carbon market. As the 27-country EU seeks to steer its economy towards “net-zero” emissions by 2050, the executive European Commission wants to expand its carbon market to shipping. Currently, the policy requires power plants, factories, and airlines running European flights to buy pollution permits to cover their emissions. The proposal, formally due by next summer, has already run into opposition. “The application…

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DNV GL, a Norwegian risk management and quality assurance firm, told Reuters on Thursday it had suspended work on the gas pipeline Nord Stream 2 to avoid sanctions under the recently expanded U.S. sanctions on the Russia-led project.   Last month, the U.S. Department of State said it was broadening the sanctions against service providers and those funding vessels involved in the construction of Nord Stream 2 in a fresh attempt to prevent the project from completing.  According to the new guidance in the Protecting Europe’s Energy Security Act (PEESA), the United States is including in the…

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TOM KOOL Tom majored in International Business at Amsterdam’s Higher School of Economics, he is Oilprice.com’s Head of Operations More Info SHARE Facebook Twitter Google + Linkedin Reddit PREMIUM CONTENT Oil Prices Are On Course For Another Weekly Gain U.S. Shale Production Continues Its Decline Iran’s Leading Nuclear Bomb Expert Assassinated Why OPEC Is Worried About The UAE Oil Markets Hopeful As OPEC+ Meeting Looms By Tom Kool – Nov 27, 2020, 2:00 PM CSTJoin Our Community Oil prices are set for a fourth consecutive weekly gain as positive vaccine news and…

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