The U.S. oil and natural gas rig count fell this week to its lowest in nearly a year, as gas rigs slumped by the most in a week since February 2016, energy services firm Baker Hughes Co (BKR.O) said in its closely followed report on Friday. U.S. natural gas futures jumped over 5% shortly after Baker …
US Weekly Natgas Rig Count Falls by Most Since 2016 – Baker Hughes Read More »
(Reuters) – Sour crude oil supplies for U.S. Gulf Coast oil refiners will be squeezed in coming weeks, market participants said, as global demand rises following this month’s OPEC+ production cut. The oil producing group’s 500,000 barrel per day cut will reduce stocks of sour crudes as U.S. oil refiners ramp up purchases for summer …
Tight market for sour crude oil to squeeze U.S. Gulf Coast refiners Read More »
(Reuters) – U.S. Energy Secretary Jennifer Granholm told lawmakers on Thursday her department could start repurchasing oil for the Strategic Petroleum Reserve (SPR) after completing a congressionally mandated sale next month. “That congressionally mandated sale of 26 million barrels will be completed by June, and it’s at that point where we will flip the switch …
U.S. could start buying oil for reserve after June sale, energy secretary says Read More »
Accretive transaction strengthens Free Cash Flow outlook and adds ~100 high-value oil-weighted locations TULSA, OK, May 12, 2023 (GLOBE NEWSWIRE) — Vital Energy, Inc. (NYSE: VTLE) (“Vital Energy” or the “Company”) today announced the signing of a definitive joint purchase and sale agreement to acquire the assets of Forge Energy II Delaware, LLC (“Forge”), an …
Vital Energy Expands Permian Footprint with Delaware Basin Acquisition Read More »
U.S. natural gas futures were little changed on Thursday as the market waited for direction from a federal report expected to show a smaller-than-usual storage build last week when cold weather kept heating demand for the fuel high. Prices did not react to a bullish decline in output over the past few days or forecasts …
U.S. natgas futures little changed ahead of federal storage report Read More »
ROTTERDAM, May 11 (Reuters) – Saudi Arabia and the Netherlands on Thursday signed a memorandum of understanding to collaborate on the development of green energy and hydrogen. The Netherlands could be the main destination for the transport of hydrogen derived from renewable energy sources from Saudi Arabia to Europe, Saudi energy minister Prince Abdulaziz bin …
Saudi Arabia and Netherlands agree to collaborate on green energy Read More »
The soon-to-be chief executive of what will become the world’s third-biggest lithium producer says the new company will focus on building a supply chain in the Americas, as US automakers look for non-Chinese sources of the battery metal. “America-centric is a big differentiator for us with customers, with investors,” Paul Graves said in an interview …
Head of New Lithium Giant Building Supply Chain for Americas Read More »
Lawsuit says oil and gas development violates constitutional rights Oil, gas development has grown nearly tenfold in past 10 years May 10 (Reuters) – New Mexico residents on Wednesday sued the state seeking to suspend new permitting for oil and gas production, claiming the government’s approvals for fossil fuel projects, without proper oversight, violates a …
New Mexico residents sue seeking to block oil and gas permitting Read More »
By Geoffrey Cann Heavy industry has long known that intoxication and some kinds of work simply don’t mix. Digital technologies are helping overcome the risk of hard-to-detect intoxicants on the job site. Many years ago, I was travelling for work and my company credit card was declined at an airport for exceeding its very healthy credit limit. Being stranded …
Legal Drugs in the Energy Workplace — What Could Go Wrong? – Geoffrey Cann Read More »
LONDON, May 9 (Reuters) – Portfolio investors have dumped petroleum futures and options, reversing the buying frenzy inspired by the production cuts announced by Saudi Arabia and its OPEC⁺ allies at the start of April. Hedge funds and other money managers sold the equivalent of 145 million barrels in the six most important futures and …
Investors Dumped Oil, Curtailing OPEC⁺ Driven Rally – John Kemp Read More »
