October 25, 2024 – Oil & Gas 360

Big tech’s nuclear gamble could change the course of the energy transition

October 25, 2024

(Oil Price) – Microsoft recently struck a deal to restart of the Three Mile Island nuclear power plant. Google partnered with small modular reactor developer Kairos to build 500MW of generation capacity. Amazon bought stock in another SMR developer, X-energy. Big Oil loves nuclear. This could change the course of the energy transition. Until quite recently, Big Tech was fully dedicated to the energy transition

Energy majors team up with Techouse to cut emissions from offshore installations

October 25, 2024

(World Oil) – Technology company Techouse has teamed up with several energy companies, including TotalEnergies and Equinor, plus SINTEF Energy Research, to develop and test a compact, lightweight once-through steam generator (OTSG) that can enable substantial reduction in fuel consumption and CO2 emissions from power and heat production at offshore installations. “Previous research and development has proved that implementing gas turbine

New Mexico studies oil drilling restrictions that would hit output, revenue

October 25, 2024

(Investing) – NEW YORK – New Mexico, the second-largest oil-producing state in the U.S., is studying new restrictions on drilling that would hit up to 5.4% of its future crude output and result in billions of dollars in lost revenue, the state’s chief economist said this week in a report. The study examined proposed setbacks – or restrictions on how close

Suriname will not consider loan offers against $26 billion oil patch

October 25, 2024

(World Oil) – Suriname, which is on the verge of becoming a major South American energy producer, is ruling out more borrowing against future oil production, according to its finance minister. TotalEnergies SE and APA Corp. earlier this month announced a $10.5 billion offshore project that will begin pumping crude as soon as 2028. Minister of Finance and Planning of

Biden Administration approves its first lithium mining project

October 25, 2024

(Oil Price) – The Biden Administration has granted a final federal permit to a lithium-boron project in Nevada in the first such project approved by the Administration as part of its efforts to support America-produced lithium and reduce dependence on Chinese supply, the project developer said on Friday. The U.S. Bureau of Land Management has issued the federal permit for the Rhyolite Ridge

U.S. rig count had an increase of 1 this week, at 585- oil and gas 360

U.S. rig count had no change this week, stays at 585

October 25, 2024

This week’s Baker Hughes Rig Count shows that U.S. had no change over last week, resulting in a total count of 585 rigs. Canada had a decrease of 1 over last week, resulting in a total Canadian count of 216 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Barnett, the Eagle Ford, and the Utica regions

The main takeaways from the BRICS summit

October 25, 2024

(BOE Report) – KAZAN, Russia – Here’s a brief summary of the outcome of the BRICS summit: * XI AND MODI – Chinese President Xi Jinping and Indian Prime Minister Narendra Modi met just two days after New Delhi announced that it had reached a deal with Beijing to resolve a four-year military stand-off on their Himalayan frontier. * LOTS

Oil heads for weekly gain as Middle East keeps market on edge

October 25, 2024

(CNBC) – Oil prices were heading for a weekly gain of more than 2%, with Friday’s prices were little changed on the day as traders were kept on edge by simmering tensions in the Middle East ahead of a planned resumption in Gaza ceasefire talks in the coming days. Brent crude futures rose 71 cents, or 0.95%, to $75.09 a barrel,

Premium Content