U.S. oil stocks in the Strategic Petroleum Reserve (SPR) at year-end will be at or exceeding the level that would have existed prior to massive sales two years ago, U.S. Energy Secretary Jennifer Granholm said on Monday. Stocks will reach those levels in part on the cancellation of congressional-mandated sales of about 140 million barrels, …
U.S. to Return Emergency Oil Reserve to Prior Levels by Year-End Read More »
U.S. oil output from top shale-producing regions will rise in April to the highest level in four months, the U.S. Energy Information Administration (EIA) said in its monthly Drilling Productivity Report on Monday. Production from the top basins will climb by more than 9,000 barrels per day (bpd) to 9.77 million bpd, the strongest output …
U.S. Oil Output From Top Shale Regions to Rise in April, EIA Says Read More »
Europe and the U.S. will have to spend in excess of $1 trillion for building infrastructure to enable widespread use of hydrogen fuel, an executive at Mitsubishi Heavy Industries said on Monday. A wholesale move to hydrogen will need significant new demand, which could only come with investments in infrastructure to reduce the cost. European …
Hydrogen Adoption Will Cost Europe, US More Than $1 Trillion Read More »
Supplies on the Winnipeg regional line will be rerouted for three months.
On average, Stratas Advisors predicts that supply will be at a deficit of 840,000 bbl/d during 2024.
TotalEnergies’ acquisition targets Talos Energy’s Bayou Bend project, and the French company plans to sell off the remainder of Talos’ carbon capture and sequestration portfolio in Texas and Louisiana.
BP Plc’s 435,000 barrel-per-day (bpd) Whiting, Indiana refinery returned to normal operations for the first time since a February plantwide power outage, a company spokesperson said on Monday.Gasoline prices in the Chicago-area climbed by at least 20 cents a gallon in the days following the Feb. 1 power outage at the Whiting refinery. (Reporting by …
BP Whiting, Indiana Refinery Returns to Normal Ops, Says Company Read More »
Global oil demand will not peak for some time so policy makers need to ensure sufficient investment in oil and gas to meet consumption and abandon the fantasy of phasing out the fossil fuels, Saudi Aramco CEO Amin Nasser said on Monday. The head of the world’s largest energy company urged a re-set of global energy …
Saudi Aramco CEO Says No Peak in Oil Demand for Some Time to Come Read More »
Exxon Mobil CEO Darren Woods on Monday said his company is trying to secure preemption rights over Hess Corp’s Guyana assets in its dispute with Chevron, not buy the company itself. In his first public remarks on the company’s pursuit of an arbitration case that could block Chevron’s $53 billion deal for Hess, Woods said Exxon …
CNOOC said the Qinhuangdao 27-3 oilfield has been tested to produce approximately 742 bbl/d of oil from a single well.
