Auto Added by WPeMatico
Operators in North Dakota’s Bakken oilfield reduced their rig count to 36 in April, down from 40 in March, marking the lowest number this year as a wave of consolidation has swept through the oil patch, state regulators said on Friday. “Their drilling budgets are disrupted especially if both are active in the Bakken. They …
North Dakota’s Rig Count Drops as Consolidation Sweeps Oil Patch Read More »
Oil and gas energy activity in Oklahoma, Colorado and the northern part of New Mexico fell in the first quarter of 2024, the Federal Reserve Bank of Kansas City said on Friday in its quarterly survey of energy activity. Drilling and business activity contracted for a fifth straight quarter and will likely continue to fall …
Oil and Gas Activity in U.S. Midwest, Rockies Fell in Q1, Kansas Fed Says Read More »
U.S. natural gas futures held near a two-week low on Friday on worries about a huge storage surplus and forecasts for lower demand over the next two weeks than previously expected due primarily to a drop in feedgas to the Freeport LNG export plant in Texas. Analysts forecast gas stockpiles were about 36% above normal …
U.S. Natgas Prices Hold Near 2-Week Low on Lower Demand Forecasts Read More »
(Reuters) – An Exxon Mobil arbitration case that could block the sale of Hess Corp to Chevron could drag on until year-end, Hess said in a U.S. securities filing on Friday. The filing signals any closing of its $53 billion sale to Chevron could fall into next year, at least six months later than a prior goal of …
Hess Signals Exxon Arbitration Could Push a Sale into Next Year Read More »
(Reuters) – President Joe Biden’s administration on Friday finalized a range of reforms designed to boost returns and address environmental harms from oil and gas drilling on public lands. The new rules follow years of criticism from green and taxpayer groups that federal oil and gas development was not benefiting the public. Many of the …
U.S. Finalizes Big Reforms to Federal Oil and Gas Drilling Read More »
(Reuters) – The International Energy Agency (IEA) trimmed its forecast for 2024 oil demand growth on Friday, citing lower than expected consumption in OECD countries and a slump in factory activity. The Paris-based energy watchdog lowered its growth outlook for this year by 130,000 barrels per day (bpd) to 1.2 million bpd, adding that the …
IEA Trims Oil Demand Forecast on Weakness in Wealthier Countries Read More »
Exxon Mobil has made a final investment decision for its sixth oil development project in offshore Guyana after receiving the required government and regulatory approvals, the company said on Friday.A consortium led by Exxon began crude output in Guyana in 2019, and has ramped up production to some 650,000 barrels per day (bpd) this year. …
Exxon Moves Forward with Sixth Oil Project in Guyana, Targets 1.3 million Bpd Output Read More »
Bloomberg The latest market forecasts from the world’s oil producer and consumer groups might as well be describing two different planets. Which one OPEC+ ministers believe they inhabit will be crucial for their production decision in June. The International Energy Agency is relatively downbeat on the outlook for demand. On Friday, it trimmed its 2024 forecast by …
OPEC Makes the Case for Oil Supply Restraints to Ease Read More »
Summary Crude near six-month high Concern of fewer U.S. rate cuts weighs Market pares gains after IEA cuts 2024 demand growth view LONDON, April 12 (Reuters) – Oil rose over 1% on Friday as heightened tensions in the Middle East raised the risk of supply disruptions from the oil-producing region, though the market is set …
Oil Rebounds on Mideast Tensions but Set for Weekly Loss Read More »
Half of National Petroleum Reserve-Alaska could be off-limits Companies say plan would violate leases, kill investment The US set aside 23 million acres of Alaska’s North Slope to serve as an emergency oil supply a century ago. Now, President Joe Biden is moving to block oil and gas development across roughly half of it. The initiative, set …
Biden Election Energy Politics: Biden Plans Sweeping Effort to Block Arctic Oil Drilling Read More »
