Rigzone Industry News

Oil and gas industry players should not rely solely on carbon capture, utilization, and storage technology to meet low carbon targets, the agency said.

'The projected scale and quality of these reserves give them the potential to generate huge cash flows'.

The 16 projects were selected for negotiation to support the development of new and expanded large-scale, commercial carbon storage projects.

'The ongoing geopolitical tensions and the unpredictable fluctuations in crude oil prices are significantly dampening the overall sentiment within the oil and gas sector'.

Devon saw net profit rise to $920 million for the third quarter.

Third-quarter oil and total production were both above the high end of their guidance ranges.

Demand for oil and natural gas is expected to be driven by population growth and industrialization in developing economies across Asia.

The 2.6-gigawatt CVOW project will generate enough clean, renewable energy to power up to 660,000 homes once fully constructed in late 2026.

DT Midstream logged $91 million in net income for the third quarter.

The projects seek to tap into the ocean's natural carbon trapping processes.