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U.S. oil and gas drilling has slowed in response to the fall in prices over the last 18 months, but that has not yet translated into slower production, keeping prices under pressure. Exploration and production firms have continued to increase output despite drilling fewer wells, by concentrating on the best sites, accelerating drilling times and …
Rising U.S. Oil Production Frustrates OPEC+ Cuts: John Kemp Read More »
Summary OPEC+ JMMC panel meeting keeps 2.2 mln bpd cuts Brent crude trades above $81, Middle East tensions support Next JMMC meeting to be held on April 3 LONDON/DUBAI/MOSCOW, Feb 1 (Reuters) – OPEC+ will decide in March whether or not to extend voluntary oil production cuts in place for the first quarter, two OPEC+ …
OPEC+ to Review Oil Cut Extension in March, Ministers Leave Policy Unchanged Read More »
U.S. oil refiners are expected to have about 1.8 million barrels per day (bpd) of capacity offline for the week ending Feb. 2, decreasing available refining capacity by 225,000 bpd, research company IIR Energy said on Wednesday. Offline capacity is expected to fall to 1.6 million bpd in the week ending Feb. 9, IIR added. …
U.S. Oil Refiners’ Weekly Capacity Seen Down 225,000 bpd – IIR Read More »
Reuters (Reuters) – Phillips 66 said it has shut a section of a natural gas pipeline it operates in the Oklahoma Panhandle after fire and rupture that occurred on Tuesday morning. The company said it is responding to the rupture and fire, while it has not yet determined the cause of the incident. “There have …
Phillips 66 Shuts Section of Oklahoma Panhandle Pipeline After Fire Read More »
The United States is seeking to buy about 3 million barrels of U.S.-produced sour crude for the Strategic Petroleum Reserve for delivery in June, Department of Energy documents showed on Tuesday. The administration of President Joe Biden is slowly replenishing the emergency stash after selling 180 million barrels in 2022 following Russia’s invasion of Ukraine. …
U.S. Seeks to Buy About 3 Million Barrels of Oil for SPR for June Delivery Read More »
Baker Hughes Expects North America Oilfield Spend to Decline in 2024 (Reuters) – U.S. oilfield technology firm Baker Hughes said on Wednesday it expects spending on drilling and well completion in North America to fall in 2024 as commodity prices remain volatile. Shale producers have looked to reduce drilling to counter weak prices. Many U.S. …
Baker Hughes Expects North America Oilfield Spend to Decline in 2024 Read More »
The cost of electric trucks and complications of charger installation hamper progress. The appetite for speedy package delivery is skyrocketing around the planet. Americans do more than 15% of their shopping online, with digital purchases of groceries, shoes, pet food and other goods quadrupling over the past decade to $1 trillion a year. Global e-commerce is expected …
Moves could appeal to cost-sensitive voters in tight contests Pause on LNG export permits could stoke fresh outcry Vulnerable Democrats in swing states are increasingly sounding the alarm about Biden environmental policies that risk turning off cost-conscious moderate voters they need to win at the ballot box. The warnings pose an election year challenge for US President Joe …
Biden Power Plant and EV Plans Hit a New Obstacle: Vulnerable Democrats Read More »
Golden State drivers paid highest gas premium in last quarter Refinery renewable fuel conversions reduce overall supply Chevron Corp. warns its home state of California’s climate policies are a “dangerous game” that risk causing gasoline price spikes and shortages. The premium California drivers pay for gasoline over the national average is likely to rise significantly if …
Chevron Says California Plays a Risky Game With Climate and Gasoline Read More »
New hydrogen testing facility at Florence, Italy, manufacturing site unveiled as part of the company’s strategy to further support the deployment of hydrogen-ready technologies, such as the optimized NovaLT™16 turbine delivered to Air Products’ Net-Zero Hydrogen Energy Complex in Edmonton Progress follows delivery of advanced hydrogen compression technologies for NEOM green hydrogen company in Saudi Arabia, …
