Oil Price Defying earlier expectations of slowing growth, U.S. crude oil production has surged this year to extend America’s lead at the top of the ranking of the world’s biggest oil producers. In September, U.S. oil output surged to a record high for any month in history, and forecasts are that production will continue to increase. U.S. oil producers are set
World Oil (WO) — Block Energy Plc, the development and production company focused on Georgia, is pleased to provide the following corporate update. The company’s four-part project strategy is evolving to accelerate the significant commercial opportunity offered by Project III, focused on the multi-Tcf undeveloped gas resource within the Lower Eocene and Upper Cretaceous reservoirs of Blocks XIB and XIF to
World Oil (Bloomberg) — Shell Plc has begun cutting jobs beyond previously announced reductions in its low-carbon division as CEO Wael Sawan seeks to trim costs and be more competitive with U.S. rivals, people familiar with the matter said. Roles are being eliminated on a division-by-division basis, with those affected offered options including redundancy packages or applying for jobs elsewhere
Oil and Gas 360 This week’s Baker Hughes Rig Count shows that U.S. had a decrease of 3 over last week, resulting in a total count of 620 rigs. Canada had a decrease of 39 over last week, resulting in a total Canadian count of 146 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Ardmore Woodford,
Nasdaq WASHINGTON (Reuters) – The U.S. proposed rules on Friday for how energy companies can access billions of dollars in tax credits for producing low-carbon hydrogen using new clean energy sources but left thorny issues, such as how nuclear power could benefit, uncertain. The credit will be based on the life-cycle greenhouse gas emissions from the power source used in hydrogen production,
Oil Price Ford said on Thursday that half of all 1,550 Ford dealers chose to sell electric vehicles in 2024—down from two-thirds that said this time last year that they would opt in to sell EVs for 2023. The other half of Ford dealers will sell—and service—ICE and hybrid models. “EV adoption rates vary across the country, and we believe our
Nasdaq LONDON (Reuters) – Oil prices rose slightly on Friday as tensions persisted in the Middle East following Houthi attacks on ships in the Red Sea, although Angola’s decision to leave OPEC raised questions over the group’s effectiveness in supporting prices. Brent crude futures LCOc1 were up 40 cents, or 0.5%, to $79.79 a barrel at 1326 GMT. The Ice Brent minute
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