E&P Highlights: Jan. 21, 2025
Here’s a roundup of the latest E&P headlines, with Flowserve getting a contract from ADNOC and a couple of offshore oil and gas discoveries.
Latest
Extreme Cold and Record Snowfall to Test Texas Power Grid
Deep freeze threatens transportation and energy across the US Electric grids brace for surging demand as temperatures drop A cold blast gripping the US South threatens to bring record-breaking snowfall to New Orleans and Houston and a deep freeze that endangers oil and natural gas output and electrical grids. Snow and sleet began falling Monday …
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Aramco Chief Expects Additional Oil Demand of 1.3 Million Bpd This Year
Summary • Will wait and see impact of sanctions on Russia tankers • Kingdom takes market balance into account when setting output • Looking to expand LNG position globally (Reuters) – Saudi oil giant Aramco’s Chief Executive Amin Nasser said on Tuesday he sees the oil market as healthy and expects an additional 1.3 million …
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Oil Falls as Traders Digest Trump Tariff Reprieve, Stronger Dollar
Summary • Trump says he is considering 25% tariffs on Mexico and Canada from February • President declares sweeping plan to maximise US oil production • U.S. will “probably” stop buying Venezuelan oil, Trump says (Reuters) – Oil prices fell on Tuesday as investors assessed U.S. President Donald Trump’s plans to apply new tariffs later …
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Trump’s Energy Actions on His First Day
(Reuters) – U.S. President Donald Trump issued a flurry of orders within hours of his inauguration on Monday intended to boost the nation’s already record-high oil and gas production and unwind former President Joe Biden’s climate agenda. Here are some of the actions Trump took on his first day: ENERGY EMERGENCY Trump declared a national …
Trump Says He Will Stop Leasing Federal Land for Wind Farms
Trump has long criticized turbines as bird-killing eyesores President Donald Trump ordered a broad assault on US offshore wind development Monday, including a freeze in permitting the massive renewable power projects despite warnings from developers it imperiled jobs from coast to coast. Trump also ruled out the sale of new wind leases across all of the nation’s …
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Biden’s Ban on New Liquefied Natural Gas Exports Lifted by Trump
President Donald Trump has lifted a moratorium on new US licenses to export liquefied natural gas, making good on a campaign pledge to rescind the measure enacted by his predecessor. The directive, included in a broad executive order on energy, orders the Energy Department to resume reviewing applications for new permits. That was halted by …
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Trump Orders U.S. Waters Open to Oil Drilling, Reversing Biden
Action seen delivering on his vow to unleash American energy Biden had blocked new offshore oil leases in 625 million acres Photographer: Eric Thayer/Bloomberg US President Donald Trump revoked offshore oil and gas leasing bans that effectively blocked drilling in most US coastal waters as he made sweeping moves his first hours in office to unleash …
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Trump Plans to Enact 25% Tariffs on Canada, Mexico by Feb. 1 – Watch the Video Clip
President threatens duty for fentanyl, undocumented migration Trump speaks in first Oval Office comments after inauguration President Donald Trump said he planned to enact previously threatened tariffs of as much as 25% on Mexico and Canada by Feb. 1, reiterating his contention that America’s two immediate neighbors are allowing the flow of undocumented migrants and drugs …
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US to Withdraw from Paris Climate Agreement, White House Says
The announcement, in a document from the White House, reflects President Trump’s skepticism about global warming, which he has called a hoax.