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The key to challenging the global influence of OPEC+ is a small swath of the American Southwest where drilling costs are high and most flaring is illegal. Bloomberg News About 100 miles east of UFO-capital Roswell, a dusty corner of New Mexico with more cattle than people is quietly buttressing the US’s world oil dominance. After …
U.S. Oil Dominance Hinges on Quiet Corner of New Mexico Read More »
Norway must make more area available for hydrocarbon exploration and scale up the country’s nascent renewable sector in order to protect domestic suppliers of parts and services, according to the head of the country’s second biggest oil and gas company. “We need as much acreage as is possible and whatever is hindered by environmental assessments, …
Norway Oil Output, Renewable Push Go Hand-in-Hand, Aker BP Says Read More »
He will replace Dawn Farrell, who recently was appointed as Trans Mountain’s board chair, effective Sept. 1 Bloomberg News Trans Mountain Corp., the government-owned company operating Canada’s newest major oil pipeline, named Chief Financial and Strategy Officer Mark Maki as its next chief executive as it prepares for a sale to private owners. Maki will replace …
Trans Mountain Names Maki New CEO Before Government Sale Read More »
(Reuters) – Morgan Stanley has lowered its global oil demand growth forecast for 2024, mainly due to China’s slower economic growth, increased electric vehicle usage there, and a rise in the number of trucks in China powered by liquefied natural gas (LNG). The bank cut its global oil demand growth forecast for this year to …
Morgan Stanley Cuts 2024 Oil Demand Growth Outlook on China Factors Read More »
Summary U.S. Fed Chair Powell says inflation heading down Dollar index softens ahead of Powell’s speech Despite Friday gains, oil down for the week (Reuters) – U.S. light crude oil gained more than 2% a barrel on Friday after comments by U.S. Federal Reserve Chair Jerome Powell indicated the central bank was preparing to cut …
Oil Climbs Over 2% After Fed’s Powell Indicates U.S. Rate Cuts Read More »
(Reuters) – The U.S. has bought nearly 2.5 million barrels of oil to help replenish the Strategic Petroleum Reserve after the largest sale ever from the facility in 2022, the Energy Department said on Friday. About 800,000 barrels per month of the domestically produced sour, or relatively high in sulfur, oil will be delivered to …
US Buys Nearly 2.5 Million Barrels of Oil for Strategic Petroleum Reserve Read More »
.Vessel move follows Arctic plant sanctions by US last year Shadow fleet vessels have opaque ownership, unknown insurers The US has imposed sanctions on seven liquefied natural gas carriers linked to Russia, including vessels believed to have loaded at its newest export facility in the Arctic region. LNG vessels included Pioneer and Asya Energy, which loaded the …
U.S. Sanctions Seven ‘Dark Fleet’ Ships Linked to Russia LNG Read More »
Attack comes as oil industry increasingly relies on digital Energy Department says no sign attack has impacted services Halliburton Co., the world’s biggest provider of fracking services, said it’s alerting customers and other stakeholders after an unauthorized third party gained access to some of its systems. The Houston oilfield contractor has activated its cybersecurity response …
Halliburton is Warning Oil Clients After Cybersecurity Attack Read More »
U.S. natural gas futures slid about 2% to a two-week low on Friday on forecasts for lower demand this week than previously expected. In addition, energy analysts noted the oversupply of gas in storage has kept a lid on gas prices all year. There was still about 12% more gas in storage than normal for …
U.S. Natgas Prices Slide to Two-Week Low on Ample Storage, Lower Demand Read More »
Uinta assets could be valued at as much as $2 billion in sale Value of oil and gas deals has roughly doubled this year Ovintiv Inc. is considering a possible sale of its operations in the Uinta Basin, which could fetch as much as $2 billion, people with knowledge of the matter said. Denver-based Ovintiv is …
Ovintiv Explores Sale of Oil Operations in Uinta Basin Read More »
