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The tribal and city councils in Nuiqsut withdrew their support for a joint letter they sent last year blasting the “endless expansion of oil development and the complete encirclement of our village.” ConocoPhillips’ CD-5 project was built before construction on Willow started, some seven miles from the Iñupiat village of Nuiqsut on Alaska’s North Slope. …
(Reuters) – China’s status as the colossus of renewable energy is set to be cemented in the next five years, with the world’s second-biggest economy adding more capacity than the rest of globe combined. The International Energy Agency said in its Renewables 2023 report, released on Thursday, that China will account for 56% of renewable …
China Dominates Renewable Energy and Coal Power Forecasts Read More »
Country seeks to maintain position as a key supplier to Europe As many as 50 wells are expected to be drilled: directorate Norwegian oil and gas companies will drill more exploration wells this year as the country seeks to maintain its position as a key supplier to Europe. Between 40 and 50 wells are expected to be …
Norway’s Oil and Gas Companies to Step Up Exploration This Year Read More »
Production is breaking records, but employment and real pay are down. By Justin Fox Justin Fox is a Bloomberg Opinion columnist covering business, economics and other topics involving charts. A former editorial director of the Harvard Business Review, he is author of “The Myth of the Rational Market.” Even amid record production, oil and gas …
U.S. Oil and Gas Boom Doesn’t Feel Like One to Workers Read More »
Summary Brent and WTI up about $1 Armed individuals board tanker off Oman Signs of weakening oil demand cap gains LONDON, Jan 11 (Reuters) – Oil prices rose on Thursday after an oil tanker was boarded by an armed group in Oman, raising the prospect of escalating conflict in the Middle East. Brent crude futures …
Barclays lowered its Brent crude prices forecast for this year by $8 to $85 per barrel due to higher supply, but noted that oil looks undervalued. Barclays in a note on Thursday said the cut in forecasts is primarily due to “a higher starting point for inventories and a potentially longer path to OPEC spare …
Barclays Cuts 2024 Brent Price Forecasts on Higher Supply Read More »
(Reuters) – Chesapeake Energy (CHK.O) said on Thursday it would buy smaller rival Southwestern Energy (SWN.N) in an all-stock transaction valued at $7.4 billion, a deal that would enable the second-largest U.S. natural gas producer to take the top spot. The move extends a recent spate of multi-billion deals in the U.S. energy sector including Exxon Mobil’s (XOM.N) $60-billion Pioneer Natural …
U.S. crude oil stockpiles rose unexpectedly last week while fuel inventories grew by more than expected, with gasoline building to its highest level in nearly two years, the Energy Information Administration (EIA) said on Wednesday. Crude inventories rose by 1.3 million barrels in the week ended Jan. 5 to 432.4 million barrels, the EIA said, …
U.S. Oil Stockpiles Rise More Than Forecast, Gasoline Builds to Feb 2022 High – EIA Read More »
U.S. oil and gas production continued to climb in October, but there were indications of both starting to flatten and turn down in response to lower prices since the middle of 2022. Oil production from the Lower 48 states excluding Alaska and federal waters in the Gulf of Mexico rose to a record 10.9 million …
COMMENTARY: U.S. Oil and Gas Production Growth Starts to Decelerate: Kemp Read More »
Declaration comes after US oil production hit a record in 2023 Head of industry trade group Mike Sommers spoke in interview By Jennifer A Dlouhy – Bloomberg US oil and gas production is booming, but policies being imposed now could jeopardize the country’s energy might, the industry’s top trade group is warning Washington. That sobering outlook …
Biden’s Oil Policies Threaten the Next Energy Crisis, Trade Group Warns Read More »
