(Investing) – HOUSTON – A U.S. federal judge trying to move ahead with an auction of shares in the parent of Venezuela-owned U.S. refiner Citgo Petroleum is dealing with a fresh dispute between creditors after a lowball starting bid was recommended in a reboot of the sale. The complex auction meant to repay 18 creditors for debt defaults and expropriations by
(BOE Report) – U.S. natural gas producers and investment firms are gearing up for more activity in Louisiana’s Haynesville shale basin, positioning themselves for a boom in liquefied natural gas exports boosted by new approvals from President Donald Trump. Gas prices are rising as LNG producers in the United States, already the world’s largest LNG exporter, bring new projects online
(Oil Price) – Saudi Arabia, the world’s top crude oil exporter, is expected to slash the price of its oil loading for Asia in May to the lowest level in three months amid a slide in regional benchmarks, a Reuters survey of Asian refining and trading sources showed on Friday. Saudi oil giant Aramco is set to slash its official selling price (OSP)
(World Oil) – A federal district judge on Thursday ruled against a Biden administration sale of oil and gas drilling rights in the Gulf of America, faulting the government with failing to sufficiently analyze its possible effects on the climate and endangered whales. However, U.S. District Judge Amit P. Mehta in Washington left open the question of what to do about
(BOE Report) – Oilfield service providers will face modest hits to earnings from U.S. President Donald Trump’s decision to impose tariffs on steel imports, Liberty Energy Chief Executive Ron Gusek said on Thursday. Trump imposed 25% tariffs on steel and aluminum on March 12, and more could be coming April 2. A Dallas Federal Reserve survey on Wednesday showed executives
This week’s Baker Hughes Rig Count shows that the U.S. decreased by 1 over last week, resulting in a total count of 592 rigs. Canada had a decrease of 17 over last week, resulting in a total Canadian count of 163 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Granite Wash, Haynesville, and Utica regions experienced
(Investing)– WASHINGTON – U.S. President Donald Trump said he had a productive call on Friday with Canadian Prime Minister Mark Carney and that the two leaders would meet after Canada’s election, which is scheduled for next month amid increased tensions between the neighboring allies. “It was an extremely productive call, we agree on many things, and will be meeting immediately after
(Investing) – NEW YORK – Global commodities trader Vitol is exploring a sale of its VTX Energy Partners business, in a deal that could value the U.S. shale oil and gas producer at as much as $3 billion, including debt, people familiar with the matter said. The move aims to capitalize on the fact that the VTX oil and gas business
(Oil Price) – The United States’ Department of Justice has filed a civil lawsuit at a district court in D.C. for the forfeiture of $47 million in proceeds from the sale of some 1 million barrels of Iranian oil that went to Iran’s Islamic Revolutionary Guard Corps and the Qods Force. The U.S. seized the oil last year and sold it, making $47
(World Oil) – The RRC’s long history of common sense, science-based regulation of the oil and gas industry has safeguarded Texas communities and the environment while also fostering responsible production benefitting the state economy and America’s energy independence. The Texas oil and gas industry continued a hot streak in 2024 with production volumes surpassing records that were set in 2023. The
(Oil Price) – In recent years, interest in developing the U.S. nuclear power capacity has grown. Under the Biden administration’s push for a green transition, more companies were encouraged to invest in clean energy. In addition, the power demand is expected to grow much more rapidly than previously thought, as the tech sector drives demand with plans to construct huge data centres. This,
(BOE Report) – U.S. oil producers are grappling with geological limits to production growth as the country’s top oilfield ages and produces more water and gas and less oil – and may be nearing peak output. The Permian basin was the centerpiece of the shale revolution that began nearly two decades ago and spurred the U.S. to become the world’s
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