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The U.S. issued two solicitations on Friday to buy a total of 6 million barrels of crude oil for the Strategic Petroleum Reserve as the administration of President Joe Biden replenishes the stockpile following a historic sale in 2022. The Department of Energy said the oil is for delivery to the SPR’s Bayou Choctaw site …
U.S. Seeks 6 Million Barrels of Oil for Strategic Petroleum Reserve Read More »
Wages for US oil workers set a fresh record in April as a wave of acquisitions in the shale industry has yet to impact the labor force. Average hourly earnings for front-line oil and gas workers rose 0.5% from March to $44.67, according to a Labor Department report released Friday. Compared with a year ago, oil pay …
Oil Paychecks Set a Record Even as Shale Industry Consolidates Read More »
Saudi Arabia is set to raise more than $11.2 billion after pricing its offering of Aramco stock toward the lower end of the targeted range, the Wall Street Journal reported on Thursday. Saudi Aramco’s bankers have told investors it plans to price the shares at 27.25 Saudi riyals, or $7.27 each, according to the report. …
Saudi Arabia Set to Raise More Than $11.2 Bln from Aramco Stock Offering – WSJ Read More »
Summary Russia defends OPEC+ oil pact, but ready to react UAE minister calls countries making voluntary cuts the ‘Great 8’ OPEC head rejects criticism over oil deal, says demand is good (Reuters) – OPEC+ could tweak its latest oil output agreement which calls for some output cuts to be reversed later this year if needed …
OPEC+ Could Tweak Oil Pact if Needed, Ministers Say Read More »
(Reuters) – U.S. oil and gas producer Devon Energy has lost bids to acquire at least three of its peers in the last 12 months because its shares were spurned as acquisition currency, according to people familiar with the negotiations. Devon missed out on the sector’s dealmaking boom by losing to ConocoPhillipsthe $22 billion deal to …
How Devon Energy Missed Out on the U.S. Oil and Gas Mega-Deal Wave Read More »
Three British energy companies have decided to delay by a year the planned start of oil production at their joint-venture oilfield in the North Sea, citing the need for clarity on the fiscal policies of the next government. Jersey Oil and Gas, which owns 20% of the Buchan field, gave the update on Wednesday on …
North Sea Firms Postpone Oilfield Opening After Early UK Election Called Read More »
The organizations, represented by environmental law non-profit Earthjustice, said they will bring a civil suit against Calgary-based Suncor over more than 1,000 emission violations that Earthjustice said Suncor reported to the state of Colorado between January 2019 and December 2023. Under the Clean Air Act, members of the public must give 60 days’ notice to …
Environmental Groups to Sue Canada’s Suncor Over Colorado Refinery Emissions Read More »
U.S. oil refiners are expected to have about 60,000 barrels per day (bpd) of capacity offline in the week ending June 7, increasing available refining capacity by 44,000 bpd, research company IIR Energy said on Wednesday. Offline capacity is expected to rise to 66,000 bpd in the week ending June 14, IIR added. The following …
U.S. Oil Refiners’ Weekly Capacity Seen up 44,000 Bpd, IIR Says Read More »
U.S. crude stocks, gasoline and distillate inventories rose last week, the Energy Information Administration (EIA) said on Wednesday. Crude inventories rose by 1.2 million barrels to 455.9 million barrels in the week ended May 31, the EIA said, compared with analysts’ expectations in a Reuters poll for a 2.3 million-barrel draw. Crude stocks at the …
U.S. Crude Ctocks, Gasoline and Distillate Inventories Rise – EI Read More »
Dive into Close The Divide, a compelling documentary now streaming on Apple TV, Amazon Prime, and YouTube Movies. This film masterfully explores the pressing issues of climate change amidst the global energy crisis, making it a must-watch for anyone involved in …
