Russia expects to get a huge inflow of energy revenue by the end of this year despite an oil price cap imposed by Group of Seven nations, and may channel it toward spending as the government continues to pour resources into the war in Ukraine. In the last five months of 2023, total extra proceeds …
Russia Expects $11 Billion Energy Windfall in 2023 Despite Cap Read More »
About 15 miles south of Martha’s Vineyard, Massachusetts, a massive structure emerges from the Atlantic Ocean. Nearby it will have the biggest turbines in the Atlantic, as tall as the Washington Monument with the Statue of Liberty stacked on top. It’s the first offshore power substation in the US and in October it is expected …
Atlantic’s Biggest Offshore Wind Turbine to Rise Next Week in U.S. Read More »
Summary Saudi, Russia pledge output cuts ahead of OPEC+ meeting OPEC+ unlikely to tweak overall oil output policy LONDON, Aug 4 (Reuters) – Oil prices were on track for a sixth week of gains after Saudi Arabia and Russia, the world’s second and third-largest crude producers, pledged to cut output through September. Brent crude futures …
Oil Prices Rise, Set for Sixth Weekly Gain on Extended Supply Cuts Read More »
By Alex Epstein It is crucial to have powerful criticisms of President Biden’s terrible energy policies, as they are an existential threat to our country. But we must avoid inaccurate criticisms. Introduction It is crucial to have powerful criticisms of President Biden’s terrible energy policies, as they are an existential threat to our country. However, it …
The U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA) on Wednesday announced $64.4 million in funding to states to improve the safety of pipeline and underground natural gas (UNGS) operations. “These grants provide states with resources to inspect pipelines and UNGS facilities, ensuring they are complying with federal and state regulations,” the …
U.S. Regulator Grants $64.4 million to Improve Pipeline Safety Read More »
(Reuters) – U.S. manufacturers reported another decline in activity in July 2023, but industrial electricity and especially diesel consumption have declined less than expected in recent months, explaining why prices remain relatively firm. The Institute for Supply Management’s purchasing managers index increased slightly to 46.4 (13th percentile for all months since 1980) in July from …
Column: U.S. Manufacturing Slowdown Fails to Rebuild Diesel Stocks – John Kemp Read More »
Aug 3 (Reuters) – The United States remains confident that the Group of Seven’s price cap on Russian oil is working to squeeze Moscow’s revenues and stabilize energy markets despite a recent upturn in prices, a senior U.S. Treasury official said on Thursday. In remarks prepared for a London conference, acting Assistant Secretary for Economic Policy …
U.S. sees price cap on Russian oil working despite upturn in prices Read More »
DALLAS, Aug. 02, 2023 (GLOBE NEWSWIRE) — Berry Corporation (bry) (NASDAQ: BRY) (“Berry” or the “Company”) announced second quarter 2023 results, including net income of $26 million or $0.33 per diluted share, Adjusted Net Income(1) of $12 million or $0.15 per diluted share, cash flow from operating activities of $63 million and Adjusted EBITDA(1) of $69 million. …
Berry Corporation Reports Second Quarter 2023 Results Read More »
HOUSTON, Aug 2 (Reuters) – U.S. oil and gas company Chesapeake Energy (CHK.O) on Wednesday said it expects deflation in oilfield service costs by 5% to 7% next year as weaker drilling and completions activity hurts demand, even as service providers have vowed to maintain prices. U.S. shale producers have cut spending on drilling and completing …
Chesapeake Energy Sees 5% to 7% Drop in Oilfield Service Costs in 2024 Read More »
U.S. crude stocks fell the most on record last week as exports topped 5 million barrels per day and refineries processed more crude, the Energy Information Administration said on Wednesday. Most of the fall in crude stocks came from a record drop in stockpiles held in the refining hubs of the U.S. Gulf Coast. Stocks …
U.S. Crude Stockpiles in Week Fall by Largest Amount on Record Read More »
