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U.S. energy firms this week added oil and natural gas rigs for the third time in four weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by 4 to 623 in the week to Feb. 9, its …
U.S. Drillers Add Oil and Gas Rigs for Third Time in Four Weeks – Baker Hughes Read More »
Export-Import Bank loan would finance more than 400 wells Plan runs counter to Biden’s pledge on fossil-fuel projects US Export-Import Bank leaders are moving forward with plans to underwrite the drilling of more than 400 oil and gas wells in Bahrain, even as President Joe Biden halts new liquefied natural gas export licenses over climate concerns. The …
U.S. Trade Bank Defies Biden to Expand Oil Drilling in Bahrain Read More »
The collapse of U.S. natural gas prices this week elevated the oil-to-gas ratio to its highest since May 2012, which should prompt energy firms to drill for more oil and less gas. Gas prices collapsed to a three-year low for a third day in a row on Friday, having fallen by 28% so far this …
Premium of U.S. Oil Over Natgas Hits 11-year high on Natgas Price Plunge Read More »
Courtesy of Visit Post Falls The Department of Energy (DOE) has opened the floodgates, awarding a hefty sum of $71.5 million in incentive payments to bolster 46 hydropower facilities scattered across nineteen states. Background: The cash infusion is designed to rev up the efficiency and operations for these chosen US hydropower hubs. The funds will be directed towards …
Of all the sources of supply to American refiners, domestic shale output is the least likely to be disrupted. America’s insistence on refilling the Strategic Petroleum Reserve with US crude is misguided. The political pressures on an administration seen as anti-oil to buy domestic supplies are huge. You can bet that President Joe Biden would be accused of …
Trump raised millions from oil donors in final months of 2023 Industry says production boom happened despite Biden policies Bloomberg Donald Trump is the oil and gas industry’s undisputed top pick for the Republican presidential nomination as energy sector donors shower his candidacy with nearly 10 times the amount of money as they gave his challenger Nikki …
Donald Trump Is the Oil and Gas Industry’s Top Choice for President Read More »
Bloomberg Texas passed two laws in 2021 that restrict government contracts with companies that take what state officials regard as punitive stances toward the fossil fuels and firearm industries. They’re among the many new laws pushed by Republicans in states across the US to oppose ESG investing and financing, which they’ve made into a culture …
Why Texas Is Banning Banks Over Their ESG Policies Read More »
(Reuters) – Pipeline operator Enbridge missed fourth-quarter profit estimates on Friday, hurt by lower tolls related to its Mainline crude pipeline system and a decrease in earnings from the company’s gas segment. Enbridge reached a toll agreement for Mainline with oil shippers last year, which was lower than the previous one, after scrapping earlier plans for …
Enbridge Misses Fourth-Quarter Profit Estimates on Lower Mainline Tolls Read More »
Summary Israeli forces intensify strikes on Rafah city Russia exports more crude in Feb after refinery attacks US sanctions firms, tanker over Russia price cap violation (Reuters) – Oil prices were on track for over 5% gains week-on-week on Friday, amid persistent tensions in the Middle East after Israel rejected a ceasefire offer from Hamas. …
Oil Heads For Weekly Gain as Middle East Conflict Rages Unabated Read More »
BP Plc is acting to restore its 435,000 barrel-per-day (bpd) Whiting, Indiana, refinery to normal operations following a full shutdown because of a Feb. 1 plant-wide power outage, a company spokesperson said on Thursday. “BP is making progress on the work to restore the refinery to normal operations,” company spokesperson Christina Audisho said in an …
BP Sees Progress on Restoring Indiana Refinery Operations Read More »
