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Aug 3 (Reuters) – The United States remains confident that the Group of Seven’s price cap on Russian oil is working to squeeze Moscow’s revenues and stabilize energy markets despite a recent upturn in prices, a senior U.S. Treasury official said on Thursday. In remarks prepared for a London conference, acting Assistant Secretary for Economic Policy …

U.S. sees price cap on Russian oil working despite upturn in prices Read More »

DALLAS, Aug. 02, 2023 (GLOBE NEWSWIRE) — Berry Corporation (bry) (NASDAQ: BRY) (“Berry” or the “Company”) announced second quarter 2023 results, including net income of $26 million or $0.33 per diluted share, Adjusted Net Income(1) of $12 million or $0.15 per diluted share, cash flow from operating activities of $63 million and Adjusted EBITDA(1) of $69 million. …

Berry Corporation Reports Second Quarter 2023 Results Read More »

HOUSTON, Aug 2 (Reuters) – U.S. oil and gas company Chesapeake Energy (CHK.O) on Wednesday said it expects deflation in oilfield service costs by 5% to 7% next year as weaker drilling and completions activity hurts demand, even as service providers have vowed to maintain prices. U.S. shale producers have cut spending on drilling and completing …

Chesapeake Energy Sees 5% to 7% Drop in Oilfield Service Costs in 2024 Read More »

U.S. crude stocks fell the most on record last week as exports topped 5 million barrels per day and refineries processed more crude, the Energy Information Administration said on Wednesday. Most of the fall in crude stocks came from a record drop in stockpiles held in the refining hubs of the U.S. Gulf Coast. Stocks …

U.S. Crude Stockpiles in Week Fall by Largest Amount on Record Read More »

Courtesy of the Telegraph Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE Sometimes in life, you must make decisions that you know people will disagree with. When it comes to energy policy in the UK, those decisions seem to happen every other day. What happened: On Monday, UK Prime Minster Rishi Sunak confirmed that hundreds of …

(The North Sea) Came in Like a Wrecking Ball – ENERGYminute Read More »

US President Joe Biden’s signature climate law, the Inflation Reduction Act, could slash US greenhouse gas emissions in half by 2050 but not come close to eliminating them, according to a new analysis from BlooombergNEF. The law’s $369 billion in financial incentives will speed up the transition to renewable power and electrified transportation, driving the country’s …

Biden’s Climate Law Only Halves US Greenhouse Gas Emissions by 2050: Study Read More »

The Biden administration has pulled back an offer to buy 6 million barrels of oil for the Strategic Petroleum Reserve because of conditions in the market, an Energy Department spokesperson said on Tuesday. The administration made the latest solicitation to buy the oil on July 7. After the administration released a record 180 million barrels …

U.S. pulls back offer to buy 6 million barrels of oil for emergency reserve Read More »

Tesla Inc. is seeking nearly $100 million from the US to build nine electric semi-truck charging stations along a route from the southern border of Texas to northern California, according to emails seen by Bloomberg News. The company proposed each be equipped with eight 750-kilowatt chargers for Tesla Semi vehicles and four chargers for trucks …

Tesla Wants to Build a Semi Truck-Charging Route From Texas to California Read More »

(Reuters) – Oil prices edged lower on Tuesday on signs of profit-taking after rallying in July when investors benefited from tightening global supplies and signs of growing demand in the second half of the year. Brent crude futures for October were at $85.89 a barrel at 0822 GMT, down 54 cents. Front-month Brent settled at …

Oil Dips on Signs of Profit-Taking After Rallying in July Read More »

The first thing that greets visitors entering the headquarters of billionaire Harold Hamm’s Continental Resources Inc. is a 9-foot-long statue of a snarling bull named Boe.Boe — short for barrels of oil equivalent — is an apt symbol for a veteran wildcatter who’s still betting big on more crude production in the US. Hamm is …

Billionaire Harold Hamm Sees a Great Oil Fortune Still Untapped in US Shale Read More »