U.S. – Oil & Gas 360

US grants $428 million to clean energy projects in communities that relied on coal

October 22, 2024

(Investing) – WASHINGTON – The U.S. on Tuesday announced $428 million in grants to build or expand battery manufacturing and recycling plants and other clean energy manufacturing in communities that have been hit hard by recent closures of coal mines and power plants. WHY IT’S IMPORTANT The administration of President Joe Biden and Vice President Kamala Harris, the Democratic candidate in

The U.S. Is the world’s top gasoline exporter

September 24, 2024

(Oil Price) – The United States is exporting gasoline more than any other nation in the world, supplying more than 16% of all exports of the fuel globally, the U.S. Energy Information Administration (EIA) said in an analysis on Tuesday. Last year, U.S. motor gasoline exports (finished gasoline plus gasoline blending components) averaged 900,000 barrels per day (bpd). This is equivalent to

Canada and Mexico boost competition for U.S. LNG exports to Asia

September 16, 2024

Oil Price The U.S. North American neighbors are emerging as the latest competitors of the United States to ship LNG to Asia, the world’s biggest and most important LNG-importing region. While U.S. LNG development has suffered a series of setbacks in recent months, Canada and Mexico are looking to tap the growing Asian market for the super-chilled fuel, analysts tell

U.S. plans to allocate $775 million for orphaned well cleanup

August 15, 2024

World Oil (WO) — The Department of the Interior has issued final guidance for states on applying for the first $775 million in grant funding available this year to address orphaned oil and gas wells under President Biden’s Bipartisan Infrastructure Law. The total funding allocated for this program amounts to $4.7 billion, aimed at mitigating environmental and safety hazards, generating

Qatar to invest in U.S.-backed critical minerals initiative

August 7, 2024

Oil Price Qatar will invest $180 million in a Europe-based critical minerals investment company, joining the U.S. development bank in supporting the firm that invests in key metals for the energy transition outside China. Qatar Investment Authority (QIA), the Gulf nation’s sovereign wealth fund, said on Wednesday it would invest $180 million in TechMet, an investment company focused on building businesses across

US oil and gas mergers continue at furious pace in Q2, says Enverus

July 30, 2024

U.S. News HOUSTON – U.S. oil and gas patch deals continued to run hot in the second quarter, topping $30 billion with big dollar tie-ups pushing values higher, according to data released on Tuesday by energy researcher Enverus. Blockbuster mergers, such as ConocoPhillips’ $22.5 billion offer for Marathon Oil, remain a mainstay even as U.S. lawmakers call on regulators to

U.S. trailing China’s next-generation nuclear power by 10 to 15 years

June 17, 2024

Oil Price The United States is likely 10 to 15 years behind China in deploying fourth-generation nuclear reactors at scale, as Chinese authorities are strongly backing the domestic industry with policies and financing, a new report by Washington-based research institute Information Technology & Innovation Foundation showed on Monday. China supports its domestic nuclear power development with extensive financing at low rates from

U.S. turns power exporter?

June 11, 2024

Oil and Gas 360 A first in decades for lower-48 electricity trade with the U.S.’ northern partner. Mobius Intel Brief: The Canadian power grid’s significant exposure to hydropower output means it’s particularly vulnerable to variable weather patterns. This Spring’s low water levels flipped the U.S.-Canada power relationship on its head, with the United States becoming a net exporter of electricity

US may revive some shut nuclear plants to help meet emissions goal, energy chief says

June 5, 2024

U.S. News WASHINGTON – The United States could revive some of its recently retired nuclear power plants to help meet rising demand for zero-emissions electricity, or add reactors to existing sites, Energy Secretary Jennifer Granholm said in an interview. The administration of President Joe Biden believes nuclear power is critical to meeting greenhouse gas reduction goals and decarbonizing the economy

U.S. set to secure critical domestic rare Earths supply chain by 2027

May 22, 2024

Oil Price The United States is on track to meet its goal to have by 2027 a domestic supply chain of rare earth elements for its defense needs, according to a senior official at the Department of Defense. The U.S. looks to cut its reliance on Chinese rare earth materials and has classified close allies Australia, Canada, and the UK

U.S. imposes first sanctions for Russian oil price cap violations

October 13, 2023

World Oil (Bloomberg) – The U.S. imposed the first sanctions for violations of the price cap on Russian oil introduced by the Group of Seven nearly a year ago, as signs mount the restriction is failing to cut Kremlin revenues as hoped. The Treasury Department called the steps a new phase in the enforcement of a policy aimed at limit

U.S. throws weight behind construction of EastMed gas pipeline

December 17, 2020

Reuters ATHENS – The United States is backing the construction of a subsea pipeline that would supply Europe with natural gas from the eastern Mediterranean, U.S. Energy Secretary Dan Brouillette said on Thursday. Greece, Cyprus and Israel have approved an agreement for the Eastmed pipeline, which has been in planning for several years. The countries aim to reach a final

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