What’s Affecting Oil Prices This Week? (March 25, 2024)
On average, Stratas Advisors are forecasting that oil supply will be at a deficit of 840,000 bbl/d in 2024.
AI Advancing Underwater, Reducing Human Risk
Experts at CERAWeek by S&P Global detail the changes AI has made in the subsea robotics space while reducing the amount of human effort and safety hazards offshore.
Matador Completes NatGas Connections in Delaware Basin
Matador Resources completed natural gas pipeline connections between Pronto Midstream to San Mateo Midstream and to Matador’s acreage in the Delaware Basin.
Collaboration, not ‘Mythical’ Renewables will Solve Climate Crisis
Tinker Energy Associates CEO Scott Tinker is optimistic that a combination of passion, expertise and funding can solve the world’s existential crisis –if the right questions are asked.
Clean Harbors Closes $400MM Acquisition of HEPACO
Clean Harbors acquired HEPACO for $400 million, adding complementary services for environmental remediation and emergency response in the Eastern U.S.
Russia Orders Companies to Cut Oil Output to Meet OPEC+ Target
Russia plans to gradually ease the export cuts and focus on only reducing output.
Goldman Sachs Retains Bullish View for Commodities in 2024
Goldman Sachs held onto its view to go long on commodities in 2024 which have given a 9% return year to date, which is further expected to rise to 15% by year-end, on cyclical and structural support to demand, and geopolitical risks. The bank forecast a return of 20% in select sectors such as energy …
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US Oil Refiners’ Weekly Capacity Seen Up 8,000 bpd, IIR Says
U.S. oil refiners are expected to have about 809,000 barrels per day (bpd) of capacity offline for the week ending March 29, marking an increase in available refining capacity of 8,000 bpd, research company IIR Energy said on Monday. Offline capacity is expected to rise to 882,000 bpd in the week ending April 5, IIR …
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Financiers Grab Reins as New Energy Startups Struggle
(Reuters) – Private equity firms are increasing their direct oversight of energy transition companies in their portfolios, taking on added duties to address runaway costs from supply chain issues and preserve valuations, executives said at the CERAWeek energy conference last week. Excitement around new energy technologies saw billions of dollars of investment poured in the last four …
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JERA, Exxon to Explore Development of Hydrogen and Ammonia Production Project in U.S.
(Reuters) – JERA, Japan’s top power generator, said on Monday it has agreed with Exxon Mobil to jointly explore the development of a low-carbon hydrogen and ammonia production project in the United States. Exxon is developing what is expected to be the world’s largest low-carbon hydrogen production plant at its Baytown Complex east of Houston …
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