U.S. drillers add oil & gas rigs for record 18th month -Baker Hughes
U.S. energy firms added oil and natural gas rigs for a record 18th month in a row after boosting the rig count again this week as oil prices soared to Continue Reading
Analysis: Biden gets climate win with court loss on Gulf of Mexico oil leases
A U.S. judge’s surprise decision this week to annul the Biden administration’s first Gulf of Mexico oil lease auction because of its climate change impact has raised questions about the Continue Reading
Explainer: Why U.S. natural gas prices spiked by a record 70% on Thursday
U.S. natural gas futures soared over 70% during the last half hour of trade on Thursday and closed up 46% in their highest daily percentage gains on record. The move Continue Reading
Chevron kicks off oil industry’s Q4 results with a miss
Chevron reported $2.65 earnings per share, below estimates Shares post biggest once-day drop since August after results Profit miss driven by weaker output and downstream margins Flat to down 2022 Continue Reading
Chevron to Boost Permian Output 10% in Major Lift for U.S. Shale
Chevron CEO Sees $100 Oil on Geopolitical Risks, Demand Chevron Corp. plans to increase Permian Basin production by about 10% this year from 2021 levels, among the biggest growth forecasts Continue Reading
U.S. Rig Count Rises Along With Crude Prices
Oil-directed rigs rose 4 to 495. Oil production in the U.S. last week fell to 11.6 million bpd for week ending January 21 Gas-directed rigs were up by 2 to Continue Reading
Federal Judge Annuls Massive Gulf Of Mexico Lease Sale
Federal judge: Bureau of Ocean Energy Management broke the environmental law Plaintiffs, including the Sierra Club, Earthjustice, the Center for Biological Diversity, and Friends of the Earth, praised the ruling Continue Reading
Futures Market Shows Tight U.S. Gasoline Supply Ahead
On top of $90 oil prices, the futures market also points to further pain at the pump for American consumers. Gasoline futures at NYMEX are trading at their highest premium Continue Reading
U.S. Natural Gas Prices Climb Most Ever In Single Day
U.S. natural gas futures surged 72% just ahead of expiration of the February contract The huge spike in the February contract is a clear sign that bearish bets were being Continue Reading
US coal generation share falls to 18-month low in November: EIA
Highlights Coal capacity factor drops to 39.1% Stocks at 21-year low for corresponding month Subbituminous days of burn flat to five-year average Power sector coal stockpiles were 32.3% lower at Continue Reading