US Drillers Add Most Oil, Gas Rigs in a Week Since September
The oil and gas rig count, an early indicator of future output, rose by seven to 629 in the week to March 15.
Orange Basin Serves Up More Light Oil
Galp’s Mopane-2X exploration well offshore Namibia found a significant column of hydrocarbons, and the operator is assessing commerciality of the discovery.
U.S. Natgas Prices Head for Weekly Fall on Mild Weather Outlook
U.S. natural gas futures fell more than 3% on Friday and were poised for a second straight weekly fall, pressured by forecasts for mild weather leading to lower gas demand for heating. Front-month gas futures for April delivery on the New York Mercantile Exchange fell 5.4 cents, or 3.1%, to $1.69 per million British thermal …
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NZT Power, NEP Pick Contractors for Teesside-based Decarbonization Projects
About $5.1 billion in work will go to the contractors once projects reach FID, which is expected in September.
Baker Hughes’ Emissions Abatement Technology Enables bp to Achieve Flare Emissions Monitoring Breakthrough
bp is using Baker Hughes’ flare.IQ technology to quantify methane slip emissions from its flaring operations Enhancing the accuracy of monitoring helps bp to reduce emissions from flaring Baker Hughes flare.IQ successfully implemented in multiple regions HOUSTON and LONDON, March 14, 2024 (GLOBE NEWSWIRE) — Baker Hughes (NASDAQ: BKR), an energy technology company, has announced …
Biden’s LNG Freeze Delaying Projects and Risking U.S. Market Share
At least two exporters have pushed back investment decisions Asian buyers are becoming reluctant to sign on to US plants The Biden administration’s pause on new licenses for liquefied natural gas exporters is already stalling progress for projects that were aiming to come online later this decade. Several LNG buyers have delayed signing new long-term …
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Strained Texas Power Grid Is Poised to Lose a Big Gas Plant
The Texas power grid is poised to lose a big natural gas-fired power plant, potentially straining a system that’s already grappling with an exodus of fossil fuel generation. CPS Energy plans to “indefinitely suspend operations” of three units of the V.H. Braunig facility totaling 859-megawatts by March 31, 2025, according to a notice posted by the Electric …
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AI Promises Faster Oil Drilling and Even More U.S. Crude Supply
Companies use AI to run drill rigs and predict broken pumps Technology could slash costs and squeeze more oil from wells From a dark Houston control room, Rafael Guedes watched on a monitor as a robot took charge of a drilling rig in a North Dakota oil field, locking out the human operator. Glowing red …
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Oil Prices Edge Lower but Set to End Week Over 3% Higher
(Reuters) – Oil prices edged lower on Friday but were on track to gain over 3% for the week, boosted by the International Energy Agency raising its 2024 oil demand forecasts and an unexpected decline in U.S. stockpiles. Brent crude oil futures were down 45 cents or 0.6% to $84.83 a barrel at 1155 GMT, …
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Argentine Court in Key Lithium Region Halts New Permits Over Environmental Concerns
Argentina, inside South America’s so-called “lithium triangle”, is one of the world’s top producers of the metal that is key for the batteries needed to power electric vehicles. A local company spokesperson declined to comment. The ruling, shared with Reuters on Thursday, comes after a case presented in 2021 by a chief of the Atacameños …
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