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Wednesday, April 8, 2026

June 2023

The grid needs a $20 trillion upgrade to support energy transition- oil and gas 360

The grid needs a $20 trillion upgrade to support energy transition

June 2, 2023

Oil Price For the energy transition to happen, the world needs massive grid overhauls. This message has been overlooked for years as wind and solar stole the limelight, but now it’s back on the agenda. Because no transition from baseload, dispatchable power generation to distributed, intermittent generation is possible without a massive grid overhaul. Back in 2020, BloombergNEF estimated the cost of

Suncor to cut 1,500 jobs by end of year – report- oil and gas 360

Suncor to cut 1,500 jobs by end of year – report

June 2, 2023

Nasdaq Canada’s second-biggest oil producer Suncor Energy Inc will cut 1,500 jobs by the end of this year, aiming to reduce costs and improve its financial performance, the Globe and Mail reported on Thursday, citing details from the Canadian Press. A Suncor spokeswoman confirmed to the Canadian Press that the job cuts would be spread across the organization and would affect both

OPEC+ unlikely to announce additional oil output cuts- oil and gas 360

OPEC+ unlikely to announce additional oil output cuts

June 1, 2023

Oil Price The OPEC+ group is not expected to announce another round of oil production cuts when ministers meet this weekend, OPEC+ sources told Reuters on Thursday. OPEC and its allies from several non-OPEC producers led by Russia are heading to the June 4 meeting amid market speculation whether the OPEC+ alliance will wrong-foot the short sellers again by announcing deeper

Cowboy Clean Fuels announces partnership with Puro.earth to generate CO2 removal certificates - oil and gas 360

Cowboy Clean Fuels announces partnership with Puro.earth to generate CO2 removal certificates

June 1, 2023

Oil and Gas 360 The Carbon Dioxide Removal Credits will be Listed on Puro.earth’s Highly Trusted and Reputable Crediting Platform  DENVER, Colo. – June1, 2023 – Cowboy Clean Fuels, LLC (“we,” “us,” “our,” or “the Company”), a premier energy technology company formed to produce carbon-negative, renewable natural gas (“RNG”) from readily available agricultural byproducts utilizing proprietary, patented technology, today announced

Exxon CEO says 5-year program could double its shale output- oil and gas 360

Exxon CEO says 5-year program could double its shale output

June 1, 2023

Nasdaq HOUSTON – Exxon Mobil XOM.N Chief Executive Darren Woods told an energy industry conference on Thursday he aims to double the amount of oil produced from its U.S. shale holdings over a five-year period using new technologies. “We are beginning to see the signs of some very promising new technologies” that will “significantly improve recovery” volumes, Woods said at the

Exxon, Chevron shareholders reject toughening climate goals- oil and gas 360

Exxon, Chevron shareholders reject toughening climate goals

June 1, 2023

Yahoo Finance (Bloomberg) — Exxon Mobil Corp. and Chevron Corp. shareholders soundly rejected activist demands to take responsibility for curbing emissions by motorists and industries that burn their fuels.Roughly 90% of investors in North America’s two largest oil producers shot down a proposal by environmental group Follow This that urged executives to set targets for reducing so-called Scope 3 emissions.

U.S. oil and gas output still rising in response to high prices last year: Kemp- oil and gas 360- oil and gas 360

U.S. oil and gas output still rising in response to high prices last year: Kemp

June 1, 2023

Nasdaq LONDON – U.S. oil and gas production continued to rise strongly in March – the delayed impact of very high prices that prevailed until the third quarter of 2022. Oil output increased by 171,000 barrels per day (b/d) in March compared with February, according to the U.S. Energy Information Administration (“Petroleum supply monthly“, EIA, May 31). The gains were

Weekly Gas Storage: Inventories increase by 88 Bcf- oil and gas 360

Weekly Gas Storage: Inventories increase by 110 Bcf

June 1, 2023

Natural Gas Inventories as of May 26, 2023 The EIA has released its natural gas inventory report, showing a net increase of 110 Bcf as of May 26, 2023. Working gas in storage was 2,446 Bcf as of Friday, May 26, 2023, according to EIA estimates. This represents a net increase of 110 Bcf from the previous week. Stocks were

Rosneft Q1 profit soars as Russian oil output cuts remain invisible- oil and gas 360- oil and gas 360

Rosneft Q1 profit soars as Russian oil output cuts remain invisible

June 1, 2023

Oil Price Russian state-run oil giant Rosneft saw its first-quarter 2023 net profit rise by over 45% to around $4 billion, beating analyst expectations as production increases despite Moscow’s 500,000 barrel-per-day output cuts that started three months ago.   In addition to a 45.5% jump in net profit, Rosneft, headed by Igor Sechin, said it saw EBITDA rise for the

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

U.S. crude oil inventories increase by 4.5 million barrels

June 1, 2023

Weekly Crude Oil Storage as of May 26, 2023     U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 4.5 million barrels from the previous week.  At 459.7 million barrels, U.S. crude oil inventories are 2% below the five year average for this time of year, according to the EIA crude oil and petroleum

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