Drillers Cut Oil, Gas Rigs for 7th Week to Lowest Since 2021, Baker Hughes Says
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a seventh week in a row to the lowest since November 2021.
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DNV: Turning Point Arrives for CCS
The Northern Lights joint venture and Occidental’s 1PointFive are among the companies moving CCS projects forward.
Oil Prices Jump Nearly 9% after Israel’s Strikes on Iran
Following Israeli attacks on Iran, analysts said the primary concern was possible affects on the Strait of Hormuz, through which about up to 19 MMbbl/d of oil, condensate and fuel are transported.
NRG Expects to Line Up New US Data Center Deals This Quarter
Bloomberg NRG Energy Inc. is working on deals to power US data centers “all over the country” and will reveal details with second-quarter results, according to the top executive of the independent generator. These are huge, complicated deals and it’s sensitive to figure out when to announce them, Chief Executive Officer Larry Coben said on Bloomberg TV. Data …
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US Energy Secretary Says Oil Output Drop in 2026 ‘Unlikely’
By Kevin Crowley and Kailey Leinz US Energy Secretary Chris Wright Photographer: Pete Kiehart/Bloomberg US Energy Secretary Chris Wright said it’s “unlikely” the country’s oil production will drop next year, contrary to the expectations released this week by a government agency. Much will depend on oil prices and whether producers will follow through on pledges …
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How Sparsely Populated Norway Amassed $1.8 Trillion
By Heidi Taksdal Skjeseth An offshore oil drilling platform in Norway. Photographer: Carina Johansen/Bloomberg Of all the world’s sovereign wealth funds, Norway’s is one of the most unusual. These giant, state-linked investment vehicles tend to pick and choose what assets they hold to manage risk, maximize returns and further national strategic interests. Not so with …
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COMMENTARY: With Friends Like Brazil, OPEC+ Doesn’t Need Enemies – Javier Blas
It’s clear that a boom is following the bust, and the timing couldn’t be worse for the Saudi-led oil cartel. By Javier Blas Moving right along. Photographer: Mauro Pimentel/AFP/Getty Images The Brazilian coffee and oil industries have something in common. Espresso connoisseurs know the country’s coffee production follows a natural biennial cycle, alternating periods of …
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Oil Prices Jump More Than 5% After Israel Strikes Iran
Oil prices jumped more than 5% on Friday to hit the highest in more than two months after Israel said it struck Iran, raising concerns of escalating tensions in the Middle East that could disrupt oil supplies. Brent crude futures rose $3.91, or 5.64%, to $73.27 a barrel by 0146 GMT, the highest since April …
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NextDecade Signs $9 Billion Contract With Bechtel for Construction of LNG Sites
U.S. liquefied natural gas producer NextDecade said on Thursday that its units have finalized contracts with Bechtel Energy to construct train 4 and train 5 at its Rio Grande LNG facility, with a combined value of about $9 billion. Under engineering, procurement, and construction (EPC) contracts, NextDecade agreed to pay Bechtel about $4.77 billion under …
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IPAA Seeking New CEO as Eshelman to Take New Role
IPAA’s chairman Mike Hillebrand told members in an email that the next CEO would be “a visionary, dynamic leader who understands the unique challenges and opportunities facing our diverse membership.”