The Biden administration on Wednesday awarded contracts to buy 2.8 million barrels of oil for the government’s emergency reserve for more than $81 a barrel, $2 above the target purchase price. The Department of Energy (DOE) said it will spent $225.6 million to buy oil to refill the Strategic Petroleum Reserve (SPR) from Atlantic Trading …
U.S. to Buy Oil for SPR Oil at Above $79 Target Price in Latest Round Read More »
Summary Brent forecast raised to $82.33 a barrel for 2024 WTI projection lifted to $78.09 a barrel First upward revision in 2024 price forecasts since October (Reuters) – Oil prices will gain some momentum this year as demand picks up and output curbs by the OPEC+ producer group continue to squeeze supply that is already …
Firmer Oil prices Expected as Demand Builds and Supply Curbs Persist Read More »
(Reuters) – Oil prices edged up on Thursday, following two consecutive sessions of decline, as investors reassessed the latest data on U.S. crude oil and gasoline inventories and returned to buying mode. Brent crude futures for May were up 40 cents, or 0.5%, at $86.49 a barrel while the more actively traded June contract rose …
Oil Prices Advance as Investors Reassess U.S. Inventories Data Read More »
Breakeven costs in America’s hottest oil play continue to rise, but crude producers are still making money, according to the first-quarter Dallas Fed Energy Survey. The situation is more dire for natural gas producers.
The U.S. interior department on Wednesday said it had finalized rules aimed at limiting methane leaks from oil and gas drilling on public lands. The policy complements efforts the Biden administration has made at other agencies to reduce emissions of methane, a potent greenhouse gas that tends to leak from drill sites and pipelines. Nearly …
New U.S. Rules Seek to Curb Leaks From Oil and Gas Drilling on Public Lands Read More »
The energy transition hasn’t really begun given record levels of global demand for oil, natural gas and coal, Liberty Energy Chairman and CEO Chris Wright said during the DUG GAS+ Conference and Expo.
Enlight Renewable Energy said it received a $101 million loan for its second windfarm project in Serbia, which will help the country reduce its dependency on coal-fired power generation.
One Equity Partners said TechnipFMC’s measurement solutions business will be rebranded as Guidant and specialize in measurement technology, automation solutions and global systems.
Acteon Group, a U.K.-based subsea services provider serving customers in offshore oil, gas and renewables, was acquired by new private equity backers.
Regulators could pivot as “market signals that may come may be worse than regulators are looking for,” Sempra Infrastructure’s president of LNG said.
