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U.S. crude oil production fell in January to 12.533 million barrels per day (bpd), a 6% decline from December following cold weather that froze in some production, data from the Energy Information Administration showed on Friday. Crude oil output in Texas also fell in January to 5.361 million bpd, down about 5% from the month …
U.S. Crude Oil Production Declined in January – EIA Read More »
SilverBow Resources Inc. says an offer by activist investor Kimmeridge Energy Management Co. to combine the Texas oil and natural gas producer with its own unit is far too low. The Houston-based company said in a letter to shareholders Thursday that Kimmeridge’s unsolicited offer to combine its Texas gas assets with SilverBow in exchange for 32.4 million shares priced at …
Gas Producer SilverBow Says Kimmeridge Offer Is Far Too Low Read More »
NEW YORK, March 27 (Reuters) – Fuel suppliers in Baltimore will face some trucking delays and other minor logistical issues after the collapse of a major bridge earlier this week shut the city’s port indefinitely, market participants said on Wednesday. A cargo ship smashed into the Francis Scott Key Bridge on Tuesday, causing parts of …
Baltimore Fuel Suppliers Face Logistical Challenges After Bridge Collapse Read More »
Canadian crude shipments to Los Angeles are surging, a possible preview of how an expanded pipeline that’s nearing startup may redraw flows along the Pacific Coast. Three tankers carrying a total of 1.74 million barrels have sailed from Vancouver to the biggest U.S. West Coast city in March, the most in at least four years, according …
Canadian Oil Flows to L.A. as Trans Mountain Pipeline Start Nears Read More »
Hess Corp on Thursday said in a securities filing that its board unanimously recommended shareholders vote in favor of the company’s sale to Chevron Corp, and that Exxon Mobil had initially supported the deal. The $53 billion deal’s closing has been delayed by a second request for information by the U.S. Federal Trade Commission and by contract arbitration …
Hess Board Recommends Shareholders Vote in Favor of Chevron Merger -Filing Read More »
Record oil production. Booming exports. Rapid jobs growth. Soaring CEO pay and shareholder returns. Almost no matter the metric, the U.S. oil and gas industry has flourished under President Joe Biden, even though his administration has pushed hard to transition the U.S. economy toward a carbon-free future to fight climate change. By Prinz Magtulis, Nichola …
Biden’s Oil Boom: How Fossil Fuels Thrived Despite the White House’s Climate Policies Read More »
Russia’s pledge to cut output has sparked talk of a return to triple digits, but there are obstacles ahead. Oil prices have the potential to rally to $100 a barrel by the end of the Northern Hemisphere’s summer, but there’s a lot that could send that forecast awry. Analysts at JPMorgan Chase & Co. have …
The $100 Oil Call Is Back – But There are Obstacles Ahead Read More »
Bloomberg US oil prices are more than high enough to make drilling new wells profitable but some shale bosses say they’re hesitant because of political and regulatory “uncertainty” that won’t be settled until the November election, according to the Federal Reserve Bank of Dallas. “Until the next administration is decided, we’re in a state of flux when …
(Reuters) – More than a fifth of global oil refining capacity is at risk of closure, energy consultancy Wood Mackenzie found in analysis published on Thursday, as gasoline margins weaken and the pressure to reduce carbon emissions mounts. Of 465 refining assets analysed, the consultancy ranked about 21% of 2023 global refining capacity at some …
More Than 20% of Global Oil Refining Capacity at Risk, Analysis Finds Read More »
The Biden administration on Wednesday awarded contracts to buy 2.8 million barrels of oil for the government’s emergency reserve for more than $81 a barrel, $2 above the target purchase price. The Department of Energy (DOE) said it will spent $225.6 million to buy oil to refill the Strategic Petroleum Reserve (SPR) from Atlantic Trading …
U.S. to Buy Oil for SPR Oil at Above $79 Target Price in Latest Round Read More »
