Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE Today is the final day of the COP28 summit in Dubai, and the overused term of the week is “phase”. Not the type of phase that results in died hair, skinny jeans, and My Chemical Romance posters, but whether a “phase-out” or “phase-down” of fossil …
Tracking COP28’s Most Contentious Agreement – ENERGYminute Read More »
(Bloomberg) OPEC+ will need to carefully control oil supplies for another five years to avoid a “meltdown” in crude prices, according to Rapidan Energy Group. While global oil demand won’t peak for at least another decade, supplies from outside OPEC — particularly the US — are growing much faster than previously estimated, the Washington-based consultant said …
OPEC+ Faces 5-Year Fight to Avoid Price Meltdown, Rapidan Says Read More »
The value of U.S. oil and gas mergers and acquisitions in the Permian basin this year has reached a record of more than $100 billion after several multi-billion dollar deals, consultancy Wood Mackenzie said in a news release on Tuesday. Those include the blockbuster deals such as Exxon Mobil’s $60-billion proposed deal for Pioneer Natural Resources …
M&A Deals in Permian Basin Exceeds $100 Billion in 2023 Read More »
NEW YORK, Dec 11 (Reuters) – The Biden administration expects the Treasury to release guidance by the end of this week on whether to make it easier for sustainable aviation fuel made from corn-based ethanol to qualify for subsidies, multiple sources familiar with the administration’s thinking told Reuters. For months the administration has been divided …
Biden administration to release aviation fuel subsidy guidance by end of week Read More »
HOUSTON, Dec. 11, 2023 (GLOBE NEWSWIRE) — Apache Corporation (Nasdaq: APA) today announced a partnership with the Borderlands Research Institute (BRI) at Sul Ross State University in Alpine, Texas, to launch a well pad restoration research project. Through this multiyear partnership, researchers at BRI and Texas Native Seeds, a project of the Caesar Kleberg Wildlife …
U.S. natural gas futures slid more than 10% to a near six-month low on Monday, hurt by ample output while mild weather limited heating demand. Front-month gas futures for January delivery on the New York Mercantile Exchange fell 28.1 cents, or 10.9%, to $2.30 per million British thermal units (mmBtu) at 0941 a.m. EST (1441 …
U.S. Natgas Prices rop to Near 6-Month Low on Mild Weather, Ample Output Read More »
Summary Business executives outnumber government officials Deals on nuclear power, natural gas, renewables signed (Reuters) – A stand in the COP28 “startup village” has proved the arena to gain high level access and even clinch deals on the sidelines of U.N. climate talks that are striving for an agreement as countries argue over the future use of …
Summary Excess 2024 supply expected from growth in non-OPEC output China experiencing rising deflationary pressures Investors await central bank interest rate decisions (Reuters) – Oil prices dipped on Monday as worries persisted around crude oversupply despite OPEC+ cuts and softer fuel demand growth next year. Brent crude futures fell 43 cents to $75.41 a barrel …
(Bloomberg) The US plans to hold monthly tenders to buy oil for its strategic petroleum reserve through at least May as the Biden administration moves ahead with plans to refill the caverns that currently sit near the lowest levels in 40 years. The energy department on Friday issued a solicitation to buy as much as …
U.S. to Buy Oil for Strategic Reserve Monthly Through at Least May Read More »
(Bloomberg) At the world’s most important climate summit, the Organization of the Petroleum Exporting Countries — whose members supply almost 30% of the world’s oil — has a pavilion for the first time. There, staff were giving out a children’s book about oil. A grey-haired cartoon Professor named Riggs takes young readers through topics as …
Oil Is Everywhere at COP28, Vexing Those Seeking Its Demise Read More »
