Supermajors Ramp Up Biofuel Investments, Rystad Says
Between BP, Chevron, Shell, TotalEnergies, Exxon Mobil and Eni, the projects could add 286,000 bbl/d of production capacity, Rystad analysts said.
US Natgas Prices Climb 4% to 5-Month High on Colder Forecast, Jump in LNG Feedgas
(Reuters) – U.S. natural gas futures climbed about 4% to a five-month high on Wednesday on forecasts for colder weather over the next two weeks than previously expected, which should cause utilities to start pulling gas out of storage to meet rising heating demand around the U.S. Thanksgiving day holiday next week. In addition, the …
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US Crude Stocks and Gasoline Inventories Rise, Distillate Stocks Fall, EIA Says
(Reuters) – U.S. crude stocks and gasoline inventories rose while distillate stockpiles fell in the week ending November 15, the Energy Information Administration said on Wednesday. Crude inventories rose by 545,000 barrels to 430.3 million barrels last week, the EIA said, compared with analysts’ expectations in a Reuters poll for a 138,000-barrel rise. Crude stocks …
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US Gulf Coast Crude Oil Imports Rise to Over Four-Year High, EIA Says
(Reuters) – U.S. Gulf Coast commercial crude oil imports rose to 2 million barrels per day (bpd) last week, the highest since July 2020, data from the U.S. Energy Information Administration showed on Wednesday. The data, which excludes purchases made for the country’s Strategic Petroleum Reserve, showed Gulf Coast crude oil imports rose by about …
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OPEC+ May Stick With Deep Oil Cuts for Longer Due to Weak Demand
(Reuters) – OPEC+ will have little room to manoeuvre on oil policy when it meets in December: it would be risky to increase output because of weak demand, and difficult to deepen supply cuts because some members want to pump more, sources and analysts said. The Organization of the Petroleum Exporting Countries and its allies …
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Gulf Coast, Midwest Hydrogen Hubs Land up to $2.2B in DOE Funding
The funding, awarded by the Department of Energy, is part of up to $7 billion the U.S. allocated to establish hydrogen hubs across the country.
Coterra Takes Harkey Sand ‘Row’ Show on the Road
With success to date in Harkey sandstone overlying the Wolfcamp, the company aims to make mega-DSUs in New Mexico with the 49,000-net-acre bolt-on of adjacent sections.
National Renewable Solutions Raises $145MM for Solar, Storage Project in New Mexico
National Renewable Solutions’ Shallow Basket Project’s construction, financed by Deutsche Bank, is currently underway.
Expand Foresees Drilling U-Turns in Appalachia
As Expand Energy leans into its newly combined Chesapeake-Southwestern acreage, Tim Beard, the company’s vice president of drilling, would be “surprised” if Expand did not drill U-turn wells in the Appalachian Basin.
Asia’s Dark Fleet Hub Highlights Trump’s Oil Sanctions Headache
The US president-elect wants to apply “maximum pressure” on Iran to curb revenue going back to Tehran. That’s easier said than done. Bloomberg News US President-elect Donald Trump wants to ratchet up sanctions pressure on Iran in order to curb oil revenue and thus the regime’s ability to fund proxy militias. A flotilla of aging …
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