Sunday, February 23, 2025
Texas congressmen ask Interior to cut Gulf oil, gas royalties

Texas congressmen ask Interior to cut Gulf oil, gas royalties

Houston Chronicle WASHINGTON – Texas congressmen are asking the Interior Secretary to reduce royalty collections on oil and natural gas produced in the Gulf of Mexico.   The combined effect of the coronavirus pandemic and the price war led by Saudi Arabia and Russia has crashed oil prices, leaving many U.S. producers vulnerable, Rep. Dan Crenshaw, R-Kingswood,  said in a

U.S. rig count had an increase of 1 this week, at 255- oil and gas 360

U.S. rig count decreased by 20 this week, at 772

This week’s Baker Hughes rig count shows that U.S. had an decrease of 20 over last week, resulting in a total count of 772 rigs. Canada had a decrease of 77 over last week, resulting in a total Canadian count of 98 rigs. Breakdown by region Of the regions tracked by Baker Hughes, only the Granite Wash regions saw an

'Demand destruction' - analysts race to lower outlooks for oil-

‘Demand destruction’ – analysts race to lower outlooks for oil

Reuters LONDON  – Traders and analysts are struggling to revise down their forecasts for oil demand fast enough, as government lockdowns to contain the coronavirus outbreak have rapidly cut fuel consumption. At the start of the year, forecasters had expected demand to edge up or stay flat. But, in the space of a few months or even weeks, the most