Here is a preview of what to watch this week in oil and gas markets.
(The views and opinions expressed in this article are those of the attributed sources and do not necessarily reflect the position of Rigzone or the author.)
A recently announced achievement by one Permian Basin operator could mark the ascendancy of U.S. oil and gas companies in the area of carbon offsets. Find out why, along with other projections, in this installment of what to watch this week in oil and gas markets.
Tom McNulty, Houston-based Principal and Energy Practice leader with Valuescope, Inc.: We will see more and more leadership from the U.S. Energy Complex on ESG (environmental, social, and corporate governance) initiatives that actually have teeth. Just see what Oxy Low Carbon Ventures, a subsidiary of Occidental Petroleum (NYSE: OXY), did. It delivered 2 million barrels of “carbon-neutral oil” to Reliance Industries (NSE: RELIANCE) in India. As far as I can tell, this was the industry’s first substantive petroleum shipment in which greenhouse gas emissions associated with the entire crude lifecycle, from well head to combustion, were offset. They call it “climate-differentiated crude oil,” produced via the capture and sequestration of carbon dioxide (CO