The energy transition is showing signs of losing momentum over the past few months. EV sales are slowing, wind and solar capacity additions are not expanding fast enough, and electricity is getting more instead of less expensive.
With …
WASHINGTON – The Biden administration is seeking input on whether to add more areas for protection from oil and gas drilling in Alaska’s National Petroleum Reserve, the Interior Department’s Bureau of Land Management announced on Friday.
The BLM
China, Japan and South Korea are set to receive cargoes of oil imports from Canada’s newly expanded Trans Mountain pipeline in September, becoming the first Asian countries to benefit from the facility since it became operational in May.…
(WO) – With details for Angola’s 2025 licensing round announced earlier this week, African exploration markets are making a push for upstream investment by deploying more attractive terms and offerings for global investors.
Angola’s upcoming bid round offers …
Chinese state-held oil and gas giant CNOOC said on Monday it had achieved an exploration breakthrough in medium-to-deep Mesozoic plays in the Bohai Bay offshore China.
CNOOC, which specializes in offshore exploration and production in China and abroad, …
Publisher’s Note: EnerCom Denver-The Energy Investment Conference is accepting applications from start-up companies focused on innovation in alternative energy, advanced oil and gas technology, environmental sustainability, and carbon solutions to participate in The Energy Transition and …
Top U.S. independent oil producer ConocoPhillips said on Friday it received a second request from the U.S. Federal Trade Commission for information on its proposed acquisition of rival Marathon Oil.
ConocoPhillips said both companies received the requests on …
Oil and gas energy activity in Oklahoma, Colorado and the northern part of New Mexico fell in the first quarter of 2024, the Federal Reserve Bank of Kansas City said on Friday in its quarterly survey of energy activity.…
The Department for Energy Security and Net Zero has denied reports that Ed Miliband has banned the North Sea oil regulator from issuing any outstanding drilling and exploration licences, calling them “a complete fabrication”.
Earlier today, The Telegraph…
(WO) – The Energy Workforce & Technology Council released its monthly jobs report, indicating signs of continued improvement in employment growth across the oil and gas industry.
In June 2024, the U.S. oil field services sector experienced an …
This week’s Baker Hughes Rig Count shows that U.S. had a decrease of 1 over last week, resulting in a total count of 584 rigs. Canada had an increase of 14 over last week, resulting in …
LONDON – Brent crude oil has been trading in a tight range of $75-$90 a barrel since late 2022 as OPEC+ cuts keep a floor under prices while sizeable spare capacity, demand uncertainty and sanctions policy prevent the
(Bloomberg) – The U.S. Federal Trade Commission plans to delay its decision whether to block Chevron Corp.’s $53 billion takeover of Hess Corp. until after an arbitration case with Exxon Mobil Corp. is settled, according to people familiar …
ERBIL, Iraq – Heading for Turkey to the north and Iran to the east, hundreds of oil tankers snake each day from near Kurdistan’s capital Erbil, clogging the Iraqi region’s often winding and mountainous highways.
The tankers are …
Global oil demand growth will slow to just under a million barrels per day (bpd) this year and next, the International Energy Agency (IEA) said, as Chinese consumption contracted in the second quarter due to economic problems.
Global …
The EIA has released its natural gas inventory report, showing a net increase of 65 Bcf as of July 5, 2024.
Working gas in storage was 3,199 Bcf as of Friday, July …
Publisher’s Note: Diversified Energy will be a presenter at EnerCom Denver-The Energy Investment Conference on August 18-21, 2024. Register to attend and book your room at the Westin Denver Downtown.
Accretive Acquisition of Contiguous …
(Bloomberg) — Saudi Arabia raised $1 billion more than previously expected from the sale of a stake in oil producer Aramco after a so-called stabilization period of the company’s shares ended.
The government netted a total of $12.35 …
About 1.7 million customers remained without power in Texas on Wednesday morning, two days after Hurricane Beryl made landfall, as progress to restore power was slow during the night, hampering efforts to quickly restart critical oil infrastructure.
The …
(Bloomberg) – Oil giant Occidental Petroleum Corp. clinched a record carbon removal deal with Microsoft Corp. amid the software titan’s push to reduce its expanding emissions.
Occidental, which is building a carbon-capture portfolio through its subsidiary 1PointFive, plans …
MOSCOW/LONDON – OPEC stuck to its forecast for relatively strong growth in global oil demand in 2024 and next year, saying on Wednesday that resilient economic growth and air travel would support fuel use in the summer months.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.4 million barrels from the previous week. At 445.1 million barrels, U.S. crude oil inventories …
Energy companies in Texas began restoring operations on Tuesday after some ports were shut and refineries reduced output ahead of hurricane Beryl, which made landfall on the U.S. Gulf Coast in Texas earlier this week.
Early on Monday, …
U.S. power consumption will rise to record highs in 2024 and 2025, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday.
EIA projected power demand will rise to 4,099 billion kilowatt-hours …
Shares in BP fell by as much as four percent this morning after it warned it was expected to post an impairment of up to $2bn (1.6bn) and was operating under “significantly” lower refining margins.
(WO) – Eni has made a new discovery on the Yopaat-1 EXP exploration well in Block 9, approximately 63 km off the coast in the mid-deep water of the Cuenca Salina in the Sureste basin offshore Mexico. The …
Publisher’s Note: Ring Energy will be a presenter at EnerCom Denver-The Energy Investment Conference on August 18-21, 2024. Register to attend and book your room at the Westin Denver Downtown.
