April is typically a month with relatively low energy consumption in the United States, but this year in April, the pandemic and the lockdown led to the lowest monthly energy Continue Reading
The uncertainty surrounding the future operations of Dakota Access, the key pipeline carrying crude out of the Bakken, is stalling oil companies’ plans to invest in bringing back online the Continue Reading
Low oil prices have made the only large-scale commercial project for carbon capture in the United States uneconomical, E&E News reported on Tuesday. The Petra Nova project for capturing carbon Continue Reading
Highlights Bal-20 curve up 18%, or 32 cents, from late-June low Power burn, industrial recovery support demand Lower injection demand eases US storage surplus Balance-2020 forwards prices at the Henry Continue Reading
Hess’ Bakken Shale production jumped 39% year on year in the second quarter, and the potential shutdown of a major pipeline that takes oil from the North Dakota field to Continue Reading
US crude oil inventories moved sharply lower during the week ended July 24 as exports and refinery demand climbed to multi-month highs, US Energy Information Administration data showed July 29. Continue Reading
Canadian oil sands production is expected to decline by nearly 175,000 barrels per day (b/d) in 2020 as a result of COVID-19—the largest annual decline on record. However, the longer-term Continue Reading
Denbury Resources Inc. became the latest debt-laden oil producer to say it will seek bankruptcy and hand ownership to lenders in the aftermath of a pandemic-fueled plunge in crude prices. Continue Reading
General Electric Co. predicted slow gains in operations this year and next after the coronavirus pandemic battered results in the second quarter. The jet-engine division has tracked “early signs of improvement” Continue Reading
The U.S. economy likely contracted at its steepest pace since the Great Depression in the second quarter as the COVID-19 pandemic destroyed consumer and business spending, potentially wiping out more Continue Reading
