December 8, 2023 – Oil & Gas 360

API calls on Biden administration to remove barriers to energy production in Alaska

December 8, 2023

World Oil The American Petroleum Institute (API) has called on the Biden administration to recognize the important role that Alaska plays in U.S. energy security and support the continued development of energy resources in the National Petroleum Reserve (NPR-A). In comments submitted to the Department of the Interior’s Bureau of Land Management (BLM), API expressed concern over proposed regulatory changes that

Canadian oil & gas lashes out over ‘de facto production cuts’

December 8, 2023

Oil Price Canadian Prime Minister Justin Trudeau’s announcement on Thursday that the fossil fuel industry will have to slash emissions by 35% to 38% below 2019 levels beginning in 2030 has led to an industry backlash warning that this policy will result in a significant reduction of output and high energy prices for consumers. “No sector of the economy should

EXCLUSIVE-Energy trader Gunvor raises U.S. DOJ fine provision to $650 mln – sources

December 8, 2023

Nasdaq BRUSSELS – Global energy trader Gunvor Group has increased its provision for an expected fine from the U.S. Department of Justice (DOJ) to $650 million, while making just over $1 billion in the first nine months of the year, two sources familiar with the matter said. The DOJ and U.S. Commodity and Futures Trading Commission (CFTC) have been investigating

Texas regulator issued 639 drilling oil, gas drilling permits in November 2023

December 8, 2023

World Oil AUSTIN – The Railroad Commission of Texas issued a total of 639 original drilling permits in November 2023. The total includes 588 to drill new oil or gas wells, five to re-enter plugged wellbores and 37 for re-completions of existing wellbores. The breakdown of well types for total original drilling permits in November 2023 is: 138 oil, 33

U.S. rig count had an increase of 1 this week, at 582- oil and gas 360 oil and gas 360

U.S. rig count had an increase of 1 this week, at 626

December 8, 2023

Oil and Gas 360 This week’s Baker Hughes Rig Count shows that U.S. had an increase of 1 over last week, resulting in a total count of 626 rigs. Canada had an increase of 2 over last week, resulting in a total Canadian count of 194 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Barnett, the

Oil trading giant Trafigura triples dividends after record-high profit

December 8, 2023

Oil Price Commodity trader Trafigura paid its highest-ever dividends for its 2022/2023 financial year, after posting another record-high profit amid volatile markets. Trafigura, one of the biggest independent oil and commodity traders in the world, said in its 2022/2023 fiscal year results on Friday that its net profit jumped to about $7.4 billion for the year to September 30, 2023, up from $7

Ukraine says 500 settlements without power as energy consumption hits record

December 8, 2023

Nasdaq Ukrainian energy consumption hovered near record highs on Friday, increasing strains on the fragile power sector as nearly 500 settlements faced blackouts due to Russian shelling, air strikes and bad weather, officials said. Ukraine, an exporter of electricity before Russia’s invasion in February 2022, has been forced to turn to emergency power imports from neighbouring Romania and Poland this

Oil heads for seven week decline for first time in five years

December 8, 2023

Today LONDON :Oil benchmarks were on track for a seven-week decline on Friday, their first in half a decade, on worries about a supply surplus and weak Chinese demand, though prices rebounded after Saudi Arabia and Russia lobbied OPEC+ members to join output cuts. Brent crude futures were up US$1.46, or 2per cent, at US$75.51 a barrel at 1431 GMT,

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