Friday, August 8, 2025
Ban on federal drilling leases would cost eight U.S. states billions, study finds-oil and gas 360

Ban on federal drilling leases would cost eight U.S. states billions, study finds

Reuters A ban on new oil and gas drilling leases on federal lands would cost eight Western states $8.1 billion in tax revenue and $34.1 billion in investment in the next five years, according to a study released on Tuesday by the state of Wyoming. The report, commissioned by one of the nation’s top oil and gas-producing states, aims to

Biden team close to announcing picks for core climate and energy jobs- oil and gas 360

Biden team close to announcing picks for core climate and energy jobs

Reuters President-elect Joe Biden is close to announcing a slate of Cabinet nominees who will be central to his administration’s sweeping plan to fight climate change, according to sources familiar with the matter. For the interior secretary post, Biden appears to favor U.S. Representative Deb Haaland of New Mexico, three informed sources said, a pick, that if confirmed by the

U.S. crude oil inventories increase by 0.5 million barrels- oil and gas 360

U.S. crude oil inventories decrease by 3.1 million barrels

Weekly Crude Oil Storage as of December 11, 2020   U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.1 million barrels from the previous week. At 500.1 million barrels, U.S. crude oil inventories are about 10% above the five year average for this time of year, according to the EIA crude oil and petroleum

Brent oil hovers around $50/bl on vaccine optimism and weaker dollar- oil and gas 360

Brent oil hovers around $50/bl on vaccine optimism and weaker dollar

Reuters LONDON -Oil prices edged lower on Wednesday after a surprise gain in U.S. crude inventories and tighter coronavirus lockdowns in Europe but a weakening dollar and progress on the rollout of COVID-19 vaccines offered support. Brent crude futures were down 13 cents, or 0.26%, to $50.63 a barrel by 1421 GMT. U.S. West Texas Intermediate (WTI) crude futures fell