In December 2022, the U.S. Department of Energy committed to spending $3.7 billion USD on carbon capture projects to remove carbon from the atmosphere. Since then the U.S. government has also committed $14 billion in federal investments in energy communities. The Canadian government has also announced a refundable investment tax credit of $2.6 billion over …
Carbon Capture and Storage – the answer to climate change? Read More »
U.S. natural gas futures held near a three-month high on Tuesday on a drop in output and forecasts that hot weather over the next two weeks will force generators to burn lots of gas to produce power for air conditioning, especially in Texas. Prices held steady despite forecasts for less demand over the next two …
US Natgas Futures Hold Near 3-Month High on Hot Forecasts Read More »
This Old House has to do some renovating first By Geoffrey Cann With Apple’s new Vision Pro hitting the news, and changing the perception of computing to include a spatial dimension, it’s worth reflecting on where and how this clever new technology could be used in oil and gas. In Case You Missed It I …
Spatial Computing Should Find A Welcoming Home in Oil and Gas – Geoffrey Cann Read More »
HOUSTON, June 20 (Reuters) – U.S. sweet and sour oil differentials narrowed significantly this month, pricing data showed, as demand for higher sulfur crudes climbed from refineries and exporters while supplies tightened. The spread between Light Louisiana Sweet and Mars sour crude, both priced in Louisiana, narrowed to $1.70 a barrel last week from about …
U.S. Sweet, Sour Oil Price Spread Narrows on Strong Sour Demand Read More »
June 19 (Reuters) – Civitas Resources Inc (CIVI.N) is nearing a deal to acquire oil and gas operations in the Permian basin from private equity firm NGP Energy Capital Management LLC for close to $5 billion, including debt, people familiar with the matter said on Monday. The deal would transform Civitas, currently valued at $5.6 billion, expanding …
Civitas Resources Nears $5 Bln Deal to Expand into Permian Read More »
Woodside Energy Group Ltd. gave the go-ahead for a $7.2 billion oil field off Mexico, the Australian producer’s first major fossil fuel investment since acquiring BHP Group Ltd.’s petroleum business last year. The Trion oil field, a joint venture with state-owned oil company Petroleos Mexicanos, will be Mexico’s first offshore deepwater oil project, according to …
Woodside Greenlights $7.2 Billion Mexico Deepwater Oil Project Read More »
Reuters NEW YORK, June 15 (Reuters Breakingviews) – The approach of peak oil demand is bad for oil producers, but it’s worse for companies that help dig and service new wells. A $5 billion merger between Patterson-UTI Energy (PTEN.O) and NexTier Oilfield Solutions (NEX.N), two small oil field services firms, offers a way out. Touted as a merger of equals, …
Oil Servicers Patterson-UTI and NexTier Sweeten the Pill Read More »
Oil held steady as investors tracked China’s plans to support its economy while a prior rally in wider markets ran out of steam. Benchmark Brent futures traded near $76.50 a barrel after climbing more than 2% last week as China cut interest rates and hinted that further support would be delivered. Still, Friday’s State Council meeting in …
Oil Steadies as Focus Returns to China Stimulus on U.S. Holiday Juneteenth Read More »
LAKE CHARLES, Louisiana, June 16 (Reuters) – The global battle to reshape the lithium industry is sucking in oil producers, tech startups and entrenched mining giants, each jockeying to be the first to reinvent how a metal key to the green energy transition is produced. A fleet of direct lithium extraction (DLE) technologies are on …
Inside the Race to Remake Lithium Extraction for EV Batteries Read More »
June 17(Reuters) – A U.S. judge has ordered Canadian energy company Enbridge (ENB.TO) to shutter portions of an oil pipeline that runs through tribal land in Wisconsin within three years and to pay the tribe nearly $5.2 million for trespassing plus a portion of its profits until the shutdown is completed. U.S. District Judge William Conley …
