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U.S. Energy Tax Credit Trading Grows to as Much as $9 billion, Study Finds

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NEW YORK, Jan 16 (Reuters) – Developers of renewable energy projects selling unused U.S. tax credits to other companies now account for a market worth between $7 billion and $9 billion, buoyed by legislation in 2022 that made these trades possible, a new study shows. President Joe Biden’s climate law aimed to stoke trillions of dollars of investment to …

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North Dakota Oil Output Drops up to 425,000 Bpd on Freezing Weather

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 North Dakota oil production has fallen by 400,000 to 425,000 barrels per day and gas output is down 1.0 billion to 1.1 billion cubic feet per day on extreme cold and related operational issues, the North Dakota Pipeline Authority estimated on Monday. Canadian gas continued to flow to the U.S. midcontinent through the Northern Border …

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North Dakota Oil Output Off by up to 280,000 Bpd Due to Cold Weather

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Reuters North Dakota oil production has fallen by an estimated 250,000 to 280,000 barrels per day due to freezing weather, while natural gas output in the state declined by 700 million to 800 million cubic feet per day, the North Dakota Pipeline Authority estimated on Sunday.An Arctic blast is blanketing much of the United States, …

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Frigid Temps Cut U.S. Natural Gas Supply as Demand Soars, Texas Faces Possible Shortfall

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A man stands outside a coffee shop after a blizzard left several inches of snow, in downtown Des Moines, Iowa, U.S., January 13, 2024. REUTERS/Marco Bello/File Photo Acquire Licensing Rights (Reuters) – U.S. natural gas output fell to a preliminary 11-month low on Sunday as frigid weather froze wells across the country, while gas demand for heating …

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Oil Drops More Than 1% Despite Middle East Conflict

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(Reuters) – Oil prices lost more than 1% on Monday as the Middle East conflict’s limited impact on crude output prompted profit taking after oil benchmarks gained 2% last week. Brent crude futures were down $1.14, or about 1.5%, at $77.15 a barrel by 1250 GMT and U.S. West Texas Intermediate crude lost $1.15, or …

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Natural Gas Export Projects Hang in the Balance as Biden Mulls Climate Test

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Environmental groups ramp up efforts to oppose LNG terminals. As the Biden administration weighs a tougher climate test for US natural gas export terminals, several projects and tens of billions of dollars in investments are hanging in the balance. Environmentalists are doubling down on efforts to oppose liquefied natural gas terminals seeking government approval, warning they’ll significantly prolong …

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Biden Cites Concern of Impact of War in Middle East on Oil Prices

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(Reuters) – U.S. President Joe Biden said he was concerned about the impact of war in the Middle East on oil prices, which rose on Friday after the U.S. and Britain launched dozens of air strikes across Yemen on Houthi targets. WHY IT’S IMPORTANT Oil rose 1% on Friday as an increasing number of oil tankers diverted …

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Oil Climbs 1% as Tankers Avoid Red Sea After Strikes on Houthis

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Oil prices jump as US, UK strike Houthi targets Summary Some tanker companies halt ships heading to Red Sea China buys record levels of crude oil in 2023 U.S. oil rigs fall by two this week – Baker Hughes Benchmarks close lower for the week HOUSTON, Jan 12 (Reuters) – Oil rose 1% on Friday …

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Oil Consumption and Prices Revert to Trend – John Kemp

Conventional Energy, Energy Topics & Technology, Gasoline, Latest, Natural Gas, Oil, US News / By

By John Kemp (Reuters) – Global consumption of petroleum and other liquids hit a record high last year and is forecast to increase further in both 2024 and 2025, but that does not necessarily mean prices must rise to ensure demand is met. Worldwide consumption averaged 101.1 million barrels per day (b/d) in 2023, narrowly beating …

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U.S. Proposes Fee on Methane from Big Oil and Gas Producers

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The U.S. on Friday proposed a fee on emissions of methane from big oil and gas producers as required under the 2022 climate law and as a backstop to wider regulations on the greenhouse gas from energy operations. The fee, proposed by the Environmental Protection Agency, applies to large oil and gas facilities that report …

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