A multibillion-dollar project to tap virgin oil fields in east Africa is expected to get the green light this weekend, highlighting an uncomfortable truth about the energy industry. Even as Total SE, Continue Reading
The EIA publishes reserve data for the USA, usually in December of the following year – so that the figures presented here are for 2019. Only proved category reserves are Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 2 this week, bringing the total rig count to 432. Last Continue Reading
A stronger global economy this year is set to accelerate oil demand growth to 5.5 million barrels per day (bpd), the U.S. Energy Information Administration (EIA) said in its Short-Term Continue Reading
The US oil and natural gas rig count jumped nine to 528 in the week ending April 7, rig data provider Enverus said, as drilling activity pulled back slightly in Continue Reading
Fracking crews are increasing their activity in U.S. shale basins, finishing off a slew of DUC wells, according to the EIA’s latest Monthly Drilling Report. As oil and gas companies Continue Reading
OPEC and partners are betting on a significant boost in oil demand over the coming months as member states get ready to ramp up oil production. OPEC, Russia, and their Continue Reading
A stronger global economy this year is set to accelerate oil demand growth to 5.5 million barrels per day (bpd), the U.S. Energy Information Administration (EIA) said in its Short-Term Continue Reading
The bulk of gasoline imports head to USAC Texas refiners returning from February outages RBOB crack spread weakens on stock build US gasoline inventories climbed 4.04 million barrels to 234.59 Continue Reading
U.S. crude oil refinery inputs averaged 15.0 million barrels per day during the week ending April 2, 2021 which was 103,000 barrels per day more than the previous week’s average. Continue Reading
In Texas and New Mexico, state regulators are already on the hook for cleaning up more than 7,000 orphaned oil and gas wells, which can leak contaminants into nearby air Continue Reading
The April Short-Term Energy Outlook (STEO) remains subject to heightened levels of uncertainty because responses to COVID-19 continue to evolve. Reduced economic activity related to the COVID-19 pandemic has caused changes in Continue Reading
U.S. oil production remains about 2 million bpd lower than its pre-pandemic levels. Still, methane emissions are already back to their levels from before the coronavirus. Worrying as this is Continue Reading
For more than a century, the oil and gas industry has played a central role in almost every geopolitical development of consequence. Now that the fossil fuels’ days finally seem Continue Reading
Pioneer Natural Resources, one the biggest independent oil operators in the US, is to buy rival Texan producer DoublePoint Energy in a $6.4bn cash and stock deal, as consolidation in Continue Reading
Pioneer Natural Resources has inked a deal to acquire energy independent DoublePoint Energy for a consideration of $6.4 billion, including the assumption of some $900 million in debt, Pioneer said Continue Reading
Oil drilling expanded in the U.S. at its fastest pace since the start of the pandemic amid rising prices and an increasingly optimistic demand outlook. The total number of rigs searching for Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 13 this week, adding another bearish element to the market after Continue Reading
Canada’s biggest oil sands producers are generating billions more in free cash flow thanks to a faster-than-expected pandemic rebound, but their cautious approach to spending it is disappointing environment-minded investors. Continue Reading
Despite recent signs of weakening oil demand as Europe grapples with a new wave of COVID cases, the crude oil futures market structure still points to demand beginning to outpace Continue Reading
US crude oil inventories edged lower in the week ended March 26 as refinery demand tested one-year highs, US Energy Information Administration data showed March 31. Not registered? Receive daily Continue Reading
The deployment used Halliburton’s intelligent fracturing system. Halliburton Co. (NYSE: HAL) reported Tuesday that it has given a major operator real-time automated control of fracture placement while pumping on a Continue Reading
U.S. shale was among the biggest victims of the demand destruction caused by the coronavirus pandemic. But the sector has already proved resilient once, and now this resiliency is coming Continue Reading
In 1939, studies began to suggest that smoking might not be that great for you, sullying a great American pastime and a key United States economic industry. What was once Continue Reading
Highlights But power demand, prices down on year February storm hit businesses hard New orders, business outlook improving Houston — Texas manufacturing activity in March reached the highest level in Continue Reading
The United States shale industry’s era of “newfound prudence” could be coming to an end. After a devastating 2020 for U.S. oil, the mood in the shale sector has been Continue Reading
Exxon Mobil and Chevron Corp have scaled back activity dramatically in the top U.S. shale oil field, where just a year ago the two companies were dominating in the high-desert Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 6 this week, after an increase of 9 last week. The Continue Reading
Noble Corp.’s acquisition of Pacific Drilling announced this week in a merger of drillers points to the troubled state of the oilfield service sector, even with more activity expected this Continue Reading
In parts of Texas where Texas are not dealing with crippling cold temperatures and power outages, many are dealing with gas stations that have no gas. They also have long Continue Reading
The largest U.S.-based crude oil lobby has voted to support a measure that would tax or otherwise levy a price on carbon dioxide emissions. While surprising that the American Petroleum Continue Reading
The oil industry’s top lobbying group will push Congress for legislation to price carbon emissions across the economy, in a sharp policy turnabout a decade after the industry helped kill Continue Reading
U.S. oil drillers are no longer sitting in the trenches, waiting for the pandemic storm to pass. They are once again in growth mode, according to the first-quarter energy survey Continue Reading
A backlog of pre-drilled shale wells is rapidly shrinking as oil prices rise, signaling that producers are ready to put drilling crews back to work as the industry rebounds from Continue Reading
Below are a number of oil (C + C ) production charts for Non-OPEC countries created from data provided by the EIAʼs International Energy Statistics and updated to December 2020. Continue Reading
After last year’s lowest spending on new field developments in 30 years, the offshore oil and gas sector is set to significantly increase capital expenditures this year to around US$44 Continue Reading
One rather grim data point in the economic recovery from the pandemic: Methane emissions from America’s largest oil field have rebounded. Pollution from the Permian Basin dropped 60% from March to Continue Reading
US crude inventory builds extended in the week ended March 19, US Energy Administration data showed March 24, as refinery runs continued to see lingering effects from the mid-February polar Continue Reading
After a challenging 2020, the oil and gas demand recovery – supported by vaccination efforts and OPEC+ supply cuts – is proving good for drilling activity. Rystad Energy expects around Continue Reading
Houston — The ExxonMobil-operated Liza Phase 1 development offshore Guyana achieved its nameplate capacity output of 120,000 b/d in December and continues to produce at that rate, the top executive Continue Reading
U.S. junk energy cost of funds plunged after 2020 spike It hasn’t been this cheap for shale explorers to raise money on the high-yield bond market since oil was at Continue Reading
As one of his first acts in office, President Biden revoked TC Energy Corp.’s (NYSE:TRP) license on the controversial Keystone XL pipeline project. The project ran into trouble soon after Continue Reading
Argentina’s YPF said March 19 that it plans to invest more than $1.5 billion this year to ramp up oil and natural gas production in the Vaca Muerta shale play, Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 9 this week. The total number of active oil and gas Continue Reading
New York — US refinery crude inputs are expected to rise to about 14.4 million b/d for the week ended March 19, according to estimates from S&P Global Platts Analytics Continue Reading
The stone age didn’t end due to a lack of stones, and the oil age will end long before the “world runs out of oil”. This quote, often attributed to Continue Reading
World oil demand is expected to rebound by 5.5 mb/d in 2021 after contracting by 8.7 mb/d in 2020. Consumption appears to be slightly higher than expected in 1Q21, supported Continue Reading
The world’s thirst for gasoline isn’t likely to return to pre-pandemic levels, the International Energy Agency forecast, calling a peak for the fuel that has powered personal transportation for more Continue Reading
The International Energy Agency published its latest medium-term oil market outlook on March. 17 containing closely-watched forecasts for oil supply and demand fundamentals to 2026. Below are the main projections Continue Reading
The world’s growing thirst for oil, combined with lackluster upstream investment, will require OPEC to pump close to maximum capacity in the coming years, leaving the market more vulnerable to Continue Reading
