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March 8, 2024

IPAA: Biden fails to recognize importance of U.S. oil and gas in State of the Union address- oil and gas 360

IPAA: Biden fails to recognize importance of U.S. oil and gas in State of the Union address

March 8, 2024

World Oil (WO) – In response to President Joe Biden’s comments on climate and oil and gas in his State of the Union address on Thursday night, Jeff Eshelman, President & CEO of the Independent Petroleum Association of America (IPAA) issued the following statement: “We are disappointed President Biden didn’t recognize the importance of America’s oil and gas global leadership.

Petrobras loses over $10 billion in market cap after dashing dividend hopes- oil and gas 360

Petrobras loses over $10 billion in market cap after dashing dividend hopes

March 8, 2024

Yahoo Finance Petrobras has been a major cash cow for its shareholders in recent years, including the Brazilian government, with the prior management paying out far more than Western oil major peers. Under new management picked by President Luiz Inacio Lula da Silva, the company had pared back its payouts, but an extraordinary dividend was still widely expected in the

Biden’s pause on new LNG export permits could last for months- oil and gas 360

Biden’s pause on new LNG export permits could last for months

March 8, 2024

Oil Price The U.S. Administration’s pause on approvals of new LNG export projects could last for several months until the U.S. Department of Energy reviews the grounds for authorizations, a DOE official told Bloomberg in an interview on Friday. At the end of January, the Biden Administration said it was pausing all pending decisions on U.S. LNG export projects until the Department of Energy

U.S. rig count had an increase of 1 this week, at 585- oil and gas 360

U.S. rig count had a decrease of 7 this week, at 622

March 8, 2024

Oil and Gas 360 This week’s Baker Hughes Rig Count shows that U.S. had a decrease of 7 over last week, resulting in a total count of 622 rigs. Canada had a decrease of 6 over last week, resulting in a total Canadian count of 235 rigs. Breakdown by region Of the regions tracked by Baker Hughes, no regions experienced

New gas discoveries offer glimmer of hope for Colombia's energy sector- oil and gas 360

New gas discoveries offer glimmer of hope for Colombia’s energy sector

March 8, 2024

Oil Price Despite significant potential, Colombia’s oil and gas industry has had a variety of highs and lows due to political disruption, varying international interest and other determining factors. With a more stable political outlook for the coming years, Colombia hopes to get its oil output back on track, but it is still uncertain whether the South American country will

EXCLUSIVE-Gulf oil giants Saudi Aramco, Adnoc set sights on lithium- oil and gas 360

EXCLUSIVE-Gulf oil giants Saudi Aramco, Adnoc set sights on lithium

March 8, 2024

Nasdaq LONDON/DUBAI – Saudi Arabia and the United Arab Emirates’ national oil companies plan to extract lithium from brine in their oilfields, in line with efforts to diversify their economies and profit from the shift to electric vehicles (EVs), three sources told Reuters. Other oil companies, including Exxon MobilXOM.N and Occidental PetroleumOXY.N, plan to take advantage of emerging technologies to filter lithium from

Oil prices may yet end the week on a high note- oil and gas 360

Oil prices may yet end the week on a high note

March 8, 2024

Oil Price Crude oil prices have been stuck between bearish and bullish news this week, booking a modest decline over the four days to Thursday. This could yet change later today, resulting in another week of gains for benchmarks. On the other hand, the bearish sentiment may prevail. On that side, the focus has been on Chinese demand, which CNPC said this

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