US Drillers Cut Oil, Gas Rig Count to Lowest Since January 2022
Baker Hughes said the total rig count is down 97 rigs, or 14%, below this time last year.
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TotalEnergies to Sell Subsidiary for $259MM to Malaysian E&P
TotalEnergies is selling its subsidiary TotalEnergies EP (Brunei) BV, which owns interests and is the operator for a mature field offshore Brunei.
Mountain Valley Pipeline Begins Operations
Natural Gas Transmission Line Enters Service to Meet Public Demand and Promote the National Interest CANONSBURG, Pa.–(BUSINESS WIRE)–The Mountain Valley Pipeline (MVP) entered service today after satisfying all applicable legal and regulatory requirements, including all applicable in-service conditions of the U.S. Pipeline and Hazardous Materials Safety Administration’s Consent Agreement for the project, and receiving all …
Valeura Purchases FSO Offshore Thailand
After initially leasing the Aurora FSO, Valeura Energy decided to purchase the vessel for $19 million.
Phillips 66 to Sell Interests in Rockies Express Pipeline to Tallgrass
Phillips 66’s sale to Tallgrass will generate $685 million in proceeds following debt and equity adjustments.
U.S. Election May Leave Parts of Inflation Reduction Act Vulnerable, KKR Says
The US election in November may leave certain Inflation Reduction Act programs and regulations vulnerable to repeal, according to KKR & Co.’s global head of infrastructure, Raj Agrawal. “Many of our clients are asking whether we think there is an electoral outcome that will result in the repeal of the Inflation Reduction Act, which is providing …
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Tech Firms Ask NextEra for Enough Electricity to Power Entire Cities
AI is fueling a boom in the development of US data centers CEO says NextEra would consider restarting a nuclear plant Technology companies are so desperate to build massive data centers in the US that they’re asking clean-energy giant NextEra Energy Inc. to find them locations with enough electricity to power entire cities. “We’ve had some come …
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Gas Markets Brace for NatGas Price Spikes During Turbulent Summer
Robust demand and supply disruptions are setting the stage for much higher — and more volatile — natural gas prices this summer. First off, Asian consumption is staying strong, leaving less liquefied natural gas for Europe. India keeps taking some shipments, even as the worst of a heat wave looks over. Hotter-than-normal weather looming in Japan …
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Oil and Corn Foes Unite to Battle Biden Policy Promoting EVs
Oil and ethanol advocates fight EPA pollution curbs in court Rule encourages electric vehicles chipping into fuel demand Bloomberg Advocates of rival petroleum- and plant-based fuels are joining forces to challenge new Biden administration pollution limits they say will unlawfully force automakers to sell electric cars while slashing demand for their own products. Nearly three dozen companies …
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U.S. Refining Margins Slump as Fuel Stocks Climb
By John Kemp U.S. oil refineries have been processing petroleum at the fastest rate for the time of year since before the pandemic, but rising fuel inventories have begun to weigh on crack spreads and likely signal a slowdown ahead. Refineries processed 17.5 million barrels per day (b/d) of crude and other feedstocks over the …
U.S. Refining Margins Slump as Fuel Stocks Climb Read More »