Oil and gas executives polled by the Dallas Fed in a survey released Wednesday fear recession and supply shortages, with optimism waning this quarter despite solid business activity. Oil and Continue Reading
If there is one thing the oil and coal industries can agree upon, it’s that the solution to the current global energy crisis is more fossil fuels. This was the Continue Reading
Highlights Gasoline stocks draw 2.42 million barrels Demand jumps 6% on week Refinery utilization drops 3 points amid unplanned outages A steep decline in refinery utilization and rising demand contributed Continue Reading
The U.S. Gulf of Mexico may be one of the world’s most mature deepwater basins, but it still has a lot of potential to expand. The deepwater U.S. Gulf of Continue Reading
The American Petroleum Institute (API) reported a build this week for crude oil of 4.150 million barrels, while analysts predicted a build of 333,000 barrels. According to API data, U.S. Continue Reading
About 11% of oil production in the U.S. Gulf of Mexico was shut on Tuesday as a powerful Hurricane Ian forced oil companies to evacuate workers and the storm took Continue Reading
Pump Jacks extract crude oil in Midland, Texas. Photographer: Angus Mordant/Bloomberg The US is on track to grow oil production faster than the government is forecasting, according to a BloombergNEF Continue Reading
A vessel leaves the Orlan oil plattform at Sakhalin-1’s off-shore rig at the Chaivo field, some 11 km (7 miles) off the east cost of Sakhalin island October 10, 2006. Continue Reading
BP Plc (BP.L) and Chevron Corp (CVX.N) on Monday said they have shut-in production at offshore oil platforms in the Gulf of Mexico, as Hurricane Ian bore down on the Continue Reading
U.S. exports of petroleum products jumped by 11% to a record 6 million barrels per day (bpd) in the first half of 2022, with exports growing at their fastest pace Continue Reading
Global oil flows are changing ahead of the coming embargo on Russian oil, with a growing amount of Russian crude heading east. Meanwhile, the amount of fuel and oil flowing Continue Reading
The number of total active drilling rigs in the United States rose by 1 this week, according to new data from Baker Hughes published on Friday. The total rig count Continue Reading
The Strategic Petroleum Reserve, which was established in 1975 as a reaction to the 1973 oil embargo, is now at its lowest level since December 1984. Ultimately, the SPR is Continue Reading
Moody’s: energy sector remains a strong performer in 2023, but earnings won’t be as good as in 2022. Moody’s: Energy prices are expected to remain cyclically strong through 2023. Moody’s Continue Reading
The CEO of JP Morgan, Jamie Dimon, said that banks refusing to fund new oil and gas projects would be “the road to hell for America”. An unnamed senior executive Continue Reading
The American Petroleum Institute (API) reported a build this week for crude oil of 1.035 million barrels, while analysts predicted a bigger build of 2.321 million barrels. The build comes Continue Reading
Highlights Bill calls for regularly updated emissions reduction strategy Republicans say it ‘triples down’ on high energy costs Democratic US House members Sept. 20 sought another pause on federal oil Continue Reading
U.S. Senator Joe Manchin will unveil his full energy permitting bill on Wednesday to speed fossil fuel projects and offer incentives for renewable energy electricity transmission, legislation that faces an Continue Reading
Growth in shale production has brought with it growing public awareness of the environmental impact of oil and gas extraction from hydraulic fracturing operations. Improved water treatment technology and in-basin Continue Reading
Oil and gas permitting in the United States slowed down last month, with the decline particularly marked in the Permian. This is according to data from Evercore ISI, cited by Continue Reading
Fitch Solutions expects to see an increase in gas-to-oil switching for use in heating during the winter season in the northern hemisphere, the company’s associate director, Emma Richards, told Rigzone. Continue Reading
Private companies in the Permian Basin of West Texas and New Mexico emerged from the pandemic-induced oil downturn as a growth engine for U.S. shale. Dozens of small drillers helped Continue Reading
The number of total active drilling rigs in the United States rose by 4 this week, according to new data from Baker Hughes published on Friday. The total rig count Continue Reading
LONDON, Sept 16 (Reuters) – demand for gas from domestic generators as well as customers in Europe and Asia scrambling for replacement supplies following Russia’s invasion of Ukraine. Working inventories Continue Reading
Saudi Arabia and the United Arab Emirates as part of the OPEC+ pact led to a 790,000-barrel-per-day rise in global oil production in August, the International Energy Agency (IEA) said Continue Reading
Crude oil prices inched higher today after the Energy Information Administration reported an inventory increase of 2.4 million barrels for the week to September 9. This compared with a sizeable Continue Reading
The Biden administration on Wednesday issued oil and natural gas leases to companies that nabbed the Gulf of Mexico drilling rights in a government auction later invalidated by a federal Continue Reading
The American Petroleum Institute (API) reported a build this week for crude oil of 6.035 million barrels, while analysts predicted a draw of 200,000 barrels. The build comes as the Continue Reading
Analysts had hoped that oil production at the Permian Basin would hit record highs in October, with the EIA forecasting a 66,000-bpd increase. As the active rig count drops in Continue Reading
Onshore crude oil inventories have been tightening. Onshore crude oil inventories have been tightening and seem to be at an inflection point, according to energy and environmental geo-analytics company Kayrros. Continue Reading
Global employment in the energy sector has risen above its pre-pandemic levels, led by increased hiring in clean energy, the IEA said in its latest report. Global employment in the Continue Reading
Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 66,000 barrels per day (bpd) to a record 5.413 million Continue Reading
U.S. inventories of diesel and other distillate fuel oils are now critically low after failing to recover during the summer driving season. The shortage will keep upward pressure on diesel Continue Reading
The number of total active drilling rigs in the United States dropped by 1 this week, according to new data from Baker Hughes published on Friday. The total rig count Continue Reading
Crude oil prices eased from their earlier gains after the Energy Information Administration reported inventories had added 8.8 million barrels for the week to September 2. This compared with an Continue Reading
Highlights Permian adds most rigs: up 3 to 347 Even Permian growth may be slow in H2-22 The US oil and gas rig count rose by three to 871 on Continue Reading
The number of total active drilling rigs in the United States dropped by 5 this week, according to new data from Baker Hughes published on Friday. The total rig count Continue Reading
Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long projects including some in the remote iceberg waters far off Continue Reading
Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long projects including some in the remote iceberg waters far off Continue Reading
Gail Tverberg is a writer and speaker about energy issues. She is especially known for her work with financial issues associated with peak oil. Prior… Citizens around the world can Continue Reading
The global diesel market looks set to get even tighter. The global diesel market looks set to get even tighter as power generators and industrial users seek relief from surging Continue Reading
US shale producers are on course to make nearly $200 billion this year, enough to make the industry debt-free by 2024 and potentially fund a pivot toward more natural gas Continue Reading
The American Petroleum Institute (API) reported a large draw this week for crude oil of 5.632 million barrels, while analysts predicted a draw of 448,000 barrels. The build comes as Continue Reading
Oil storage tanks in Cushing, Oklahoma. Photographer: Daniel Acker/Bloomberg Oil rallied for a second day as an industry report signaled another drawdown in US crude inventories, adding to a tightening Continue Reading
The United States’ Strategic Petroleum Reserve (SPR) now has only 453.1 million barrels in its inventory, following another significant drop in the past week that puts the emergency reserve at Continue Reading
U.S. energy firms this week cut the number of oil and natural gas rigs for a third week in a row even as they slowly increase production to pre-pandemic levels Continue Reading
The number of total active drilling rigs in the United States fell by 1 again this week, according to new data from Baker Hughes published on Friday. It is the Continue Reading
New injunction narrowed in scope to 13 states Platts Analytics sees no immediate oil supply impacts Little to no new leasing activity expected in the Western US A new permanent Continue Reading
Crude oil prices moved higher today, after the Energy Information Administration estimated a draw in oil inventories of 7.1 million barrels for the week to August 12. This compared with Continue Reading
JODI: global crude inventories fell by 21.8 million barrels to 915.8 million barrels in June. The low level of crude inventories coincided with record-high gasoline prices in the U.S. in Continue Reading
