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Record U.S. Oil and Gas Production Keeps Prices Under Pressure: Kemp

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Natural Gas, Oil, US News / By

U.S. production of oil and gas set new seasonal records in December, capping off an unprecedented year, according to data published by the U.S. Energy Information Administration (EIA) on Thursday. Production continued to climb even as prices slumped from the very high levels seen in mid-2022 after Russia’s invasion of Ukraine, contributing to the accumulation …

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Energy Firms Boost Gas Exploration in Southeast Asia to Meet Growing Demand

CDN and International News, Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Natural Gas / By

(Reuters) – Energy companies are ramping up exploration activities in Southeast Asia to boost natural gas output and meet long-term demand growth, drawn by recent discoveries and improved investment policies, company executives and analysts said. Malaysia and Indonesia have recently seen successful upstream discoveries, including a major discovery by Mubadala Energy in the South Andaman Block, following years …

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ExxonMobil, Shell to Work with Singapore on Carbon Capture and Storage Project

Carbon Capture, Energy Topics & Technology, Latest, US News / By

March 1 (Reuters) – Global energy majors Exxon Mobil and Shell will work with Singapore to develop a cross-border carbon capture and storage (CCS) project, both companies said on Friday. The Singapore-based units of the two companies, ExxonMobil Asia Pacific Pte. Ltd. and Shell Singapore Pte. Ltd., have formed the S-Hub consortium to work with the Singapore …

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OPEC Oil Output Rises by 90,000 Bpd in February, Survey Finds

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC / By

OPEC oil output rises by 90,000 bpd in February, survey finds (Reuters) – The following table shows crude output by the Organization of the Petroleum Exporting Countries (OPEC) in millions of barrels per day (bpd) in February and January, according to a Reuters survey published on Thursday. OPEC and allies, together known as OPEC+, announced …

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US EPA Removes Existing Natgas Plants From Proposed Carbon Rule

Conventional Energy, Latest, Natural Gas, US News / By

The U.S. Environmental Protection Agency on Thursday said it will exclude existing natural gas power plants from its proposed carbon regulations that it plans to finalize in April, narrowing the scope of the initial proposal that would have required stringent controls on those facilities. The electric sector had questioned whether the EPA had authority to …

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Marathon Oil Corporation announces key Officer promotions

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HOUSTON, Feb. 29, 2024 /PRNewswire/ — Marathon Oil Corporation (NYSE: MRO) announced today that Rob L. White has been promoted to Executive Vice President and Chief Financial Officer, effective May 1, 2024, and that Zach Dailey, Vice President, Internal Audit, will succeed Mr. White as Vice President, Controller and Chief Accounting Officer, effective May 1, 2024. …

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The Importance of Canadian Crude Oil to Refineries in the U.S.

Latest, US News / By

Oil from Canada supplies more than 23% of U.S. refinery feedstock, helping bolster North American energy security By Ven Venkatachalam   Aerial view of an oil refinery in Los Angeles, California. Getty Images photo Introduction The refining industry¹ in the United States is one of the world’s largest, with capacity to process 18 million barrels of …

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Natgas Prices Face 4th Straight Monthly Decline on Storage Surplus

Conventional Energy, Latest, Natural Gas, US News / By

U.S. natural gas futures edged lower on Thursday ahead of a storage report that is likely to show a smaller-than-normal withdrawal, further adding to the excess supplies that drove prices on a path for their fourth consecutive monthly decline. Front-month gas futures for April delivery lost 1% to $1.869 per million British thermal units (mmBtu) …

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Apple’s Electric-Vehicle Wind Down Offers Reprieve to Tesla, Detroit Rivals

Electric Vehicles, Energy Topics & Technology, EnergyNow News and Press Releases, Latest, US News / By

Automakers now have one fewer competitor to worry about in a crowded and uncertain arena Bloomberg News The sudden demise of Apple Inc.’s electric-vehicle program is a bleak sign for the car market. It’s also a welcome boon for automakers themselves. Apple Pulls Plug on Electric Car Plans Apple Inc. is canceling a decade-long effort to build an …

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NRG Targeting $900 Million From Texas for New Gas Plants

Conventional Energy, Latest, Natural Gas, US News / By

Bloomberg Power provider plans to apply for state loan to build plants Loan would come from $5 billion energy fund approved by voters NRG Energy Inc. plans to apply for as much as $900 million in loans from Texas to build power projects that would run on natural gas, according to its top executive. The loans would cover …

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