U.S. energy firms this week cut the number of active oil and natural gas rigs for an eighth week in a row, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future production, fell by one to 631 in the week …
US Drillers Cut Oil and Gas Rigs for Eighth Week in a Row – Baker Hughes Read More »
By Aaron Foyer Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE How the growth happened The growth of wind and solar energy sources across the world since 2010 has been remarkable. Both wind and solar power have seen substantial increases in capacity, driven by falling costs, technological advancements, and a growing recognition of …
INFOGRAPHIC: The Growth of Wind and Solar – ENERGYminute Read More »
LONDON, Sept 1 (Reuters) – Oil prices jumped by more than 1% on Friday and were on track to snap a two-week losing streak, bouyed by expectations of tightening supplies. Saudi Arabia is widely expected to extend a voluntary 1 million barrel per day (bpd) oil production cut into October, prolonging supply curbs engineered by …
Summary Brent likely to stay above $80/bbl for the rest of 2023 China recovery key to demand growth For a table of crude price forecasts, click Aug 31 (Reuters) – Analysts have raised their 2023 oil price forecasts for the first time in four months with OPEC+ output cuts expected to keep supply tight, offsetting …
Oil price forecasts raised as OPEC cuts seen offsetting China gloom Read More »
(Reuters) – Norway’s Equinor and its partner BP are seeking a 54% increase for the price of power produced at three planned offshore U.S. wind farms, according to a filing made by a New York state regulatory authority. The two partners in recent years won the rights to build the Empire Wind 1, Empire Wind …
Wind Warning: Equinor, BP seek 54% hike in US offshore wind power price, filings show Read More »
NEW YORK, Aug 31 (Reuters) – U.S. field production of crude oil rose 1.6% in June to 12.844 million barrels per day, the highest since February 2020, before the coronavirus pandemic destroyed demand for fuel and other oil products, the Energy Information Administration said on Thursday. Production in Texas rose 1.1% to 5.518 million bpd, …
U.S. Crude Oil Output Rises in June to Highest Since Feb 2020, EIA Says Read More »
U.S. commercial crude oil inventories have depleted by 34 million barrels since the middle of July, contributing to a sense the market is tightening and driving a recovery in spot prices and calendar spreads. Commercial crude inventories have declined in five of the most recent six weeks, according to surveys conducted by the U.S. Energy …
Depleting U.S. Crude Inventories Lift Oil Prices: John Kemp Read More »
House Republicans are probing Hawaiian Electric Industries Inc.’s role in the deadly Lahaina wildfire amid a contentious blame game over the blaze that killed at least 115 people and caused more than $5.5 billion in damages. House Energy and Commerce Committee Chair Cathy McMorris Rodgers and other committee leaders said in a letter they are …
Hawaiian Electric’s Role in Maui Blaze Subject of GOP Probe Read More »
Orsted A/S’s potential $2.3 billion impairment on its US projects is just the latest in a string of recent setbacks for the nascent US offshore wind industry, which is struggling to fulfill ambitious goals set by President Joe Biden.Supply-chain issues, high interest rates and a so-far-unsuccessful bid for more federal tax credits threaten three planned projects off the US …
Wind Woes: Orsted’s $2.3 Billion Charge Exposes US Offshore Wind Woes Read More »
LONDON/WASHINGTON, Aug 31 (Reuters) – Iran’s oil output and exports jumped in August despite U.S. sanctions, according to consultants and companies that track tanker shipments, as Tehran sells to buyers including China. Analysts said the higher exports appear to be the result of Iran’s success in evading U.S. sanctions and Washington’s discretion in enforcing them …
Iran’s oil output, exports rise as Washington, Tehran talk Read More »
