Oil Price Since day one of President Joe Biden’s term in office, the U.S. oil and gas industry has been criticizing his energy policies, saying that these undermine America’s energy and national security with punitive and restrictive measures against fossil fuels. Yet, during President Biden’s tenure, American oil and gas production has hit record highs. But this achievement has come despite
World Oil (Bloomberg) – Shell Plc and TotalEnergies SE are among several global energy companies in talks to buy stakes in Abu Dhabi National Oil Co.’s next liquefied natural gas export project in the United Arab Emirates. The two oil majors, as well as Japanese trading house Mitsui & Co., are looking for equity in the Ruwais facility, as well
Oil and Gas 360 This week’s Baker Hughes Rig Count shows that U.S. had an increase of 2 over last week, resulting in a total count of 619 rigs. Canada had a decrease of 14 over last week, resulting in a total Canadian count of 127 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Ardmore Woodford,
Yahoo Finance LONDON – BP said on Thursday its head of natural gas and low carbon energy Anja-Isabel Dotzenrath will step down after just over two years, while CEO Murray Auchincloss announced plans to simplify its management structure. Dotzenrath, who joined BP in March 2022 from RWE Renewables to lead its efforts to rapidly expand in renewables and low-carbon energy,
World Oil (WO) – In the Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasted that U.S. liquefied natural gas (LNG) exports will keep leading the U.S. natural gas sector as three LNG export projects soon begin operations and reach full production by the end of 2025. The EIA also forecasted increased natural gas pipeline exports, mostly to
Natural Gas Inventories as of April 12, 2024 The EIA has released its natural gas inventory report, showing a net increase of 50 Bcf as of April 12, 2024. Working gas in storage was 2,333 Bcf as of Friday, April 12, 2024, according to EIA estimates. This represents a net increase of 50 Bcf from the previous week. Stocks were
Oil and Gas 360 The frontrunner in Mexico’s next presidential elections, Claudia Sheinbaum, will invest billions in new natural gas generation capacity and solar power, Bloomberg has reported, citing a plan presented to local business leaders. The plan also includes upgrading hydropower capacity and expanding Mexico’s grid with 3,850 km of new transmission lines. Sheinbaum will also continue supporting state-owned oil
Oil and Gas 360 PITTSBURGH, April 15, 2024 /PRNewswire/ — EQT Corporation (NYSE: EQT) (“EQT”) announced it has entered into an agreement with Equinor USA Onshore Properties Inc. and their affiliates to sell an undivided 40% interest in its non-operated natural gas assets in Northeast Pennsylvania, representing approximately 225 MMcf/d of forecasted 2025 net production. Consideration for the transaction is comprised of $500
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 617 rigs. Canada had an increase of 5 over last week, resulting in a total Canadian count of 141 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Ardmore Woodford,
Oil Price Natural gas prices at the Waha hub in the Permian basin in Texas slumped to a negative value of -$2.00 per million British thermal units (MMBtu) this week as the recent rise in oil prices prompts producers to bring drilled but uncompleted wells online. As the U.S. benchmark oil price, West Texas Intermediate, hit $85 per barrel—the highest level
World Oil (Bloomberg) – Enterprise Products Partners overcame the last regulatory hurdle to build a proposed deepwater oil port off the coast of Texas aimed at helping record oil exports to flow to markets in Asia and Europe. The United States Maritime Administration issued a license for the Sea Port Oil Terminal, which will allow Enterprise to move forward with
Oil and Gas 360 HOUSTON and CALGARY, AB, April 8, 2024 /PRNewswire/ — Chord Energy Corporation (NASDAQ: CHRD) (“Chord” or “Chord Energy”) and Enerplus (NYSE:ERF) Corporation (TSX: ERF) (NYSE: ERF) (“Enerplus”) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), in connection with the pending combination between Chord and Enerplus, expired on April 5, 2024. The expiration of the waiting
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