( Oil & Gas 360) – TotalEnergies CEO Patrick Pouyanne has cautioned that Europe is facing a new energy reality and “must find a way to restore its energy competitiveness.” The head of the French oil giant based his assessment of the continent’s energy squeeze on the loss of Russian gas from its war with Ukraine and steep production drops from
(World Oil) – As the political landscape shifts with the election of President-elect Trump, the promise of American offshore energy remains unwavering. From the robust oil and gas production in the Gulf of Mexico to the burgeoning offshore wind projects, carbon capture and storage investments, and critical minerals sectors, American energy production continues to benefit every citizen, transcending political affiliations.
(Oil Price) – Tropical storm Rafael has strengthened to hurricane intensity in recent hours and is still set to continue its path toward the U.S. Gulf of Mexico, where oil and gas producers have shut-in production at platforms and evacuated personnel to shore. The late-season hurricane could threaten about 4 million barrels per day (bpd) of oil production in the Gulf of Mexico, according
(Investing) – HOUSTON – Oil prices turned positive on Wednesday after falling by more than $2, despite U.S. crude stocks rising by more than expected, according to the Energy Information Administration (EIA). Brent crude oil futures were up 38 cents, or 0.5%, at $75.91 per barrel by 11:07 a.m. EDT. U.S. West Texas Intermediate (WTI) crude rose by 57 cents or 0.79%, to
(Yahoo Finance) – Shares in renewable energy firms plunged after Donald Trump won a second term as president of the United States on a platform that promises to boost fossil fuels and undo the green agenda of his predecessor. US clean energy stocks suffered in pre-market trading in New York, especially solar firms. Sunnova Energy International Inc. (NOVA) was down
Weekly Crude Oil Storage as of November 1, 2024 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 2.1 million barrels from the previous week. At 427.7 million barrels, U.S. crude oil inventories are 2% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,
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