Rigzone Industry News

According to a new analysis by the Carbon Tracker Initiative, the oil and gas industry is utterly without standardized policies shaped by climate science.

Rigzone's regular market watchers focus on oil's rollercoaster ride, commercial crude stocks, gasoline prices and more.

Odfjell Drilling has agreed with SFL Corporation to provide marketing and management services for the West Hercules rig.

Oil managed a slim gain with the IEA highlighting the precariously tight state of global fuel stockpiles, while the EU signallled its members may not yet be able to agree on a Russian oil ban.

Oil rallied as the European Union continued to haggle with holdouts over a Russian crude ban while a US government report showed fuel inventories plunging ahead of the summer driving season.

The oil ministers of Saudi Arabia and the United Arab Emirates warned that spare capacity is decreasing in all energy sectors.

The so-called Nopec bill has been introduced many times over the past two decades.

Oil settled at the highest in nearly three weeks after a volatile session that saw the market eventually pivot back to supply concerns stemming from a European Union's proposal to sanction Russian oil.

Oil rallied as supply concerns took center stage with the EU threatening to ban Russian supplies this year and U.S. regional fuel inventories dropping to record lows.

The OPEC cartel effectively failed to increase output at all in April.