Oil and Gas 360 A first in decades for lower-48 electricity trade with the U.S.’ northern partner. Mobius Intel Brief: The Canadian power grid’s significant exposure to hydropower output means it’s particularly vulnerable to variable weather patterns. This Spring’s low water levels flipped the U.S.-Canada power relationship on its head, with the United States becoming a net exporter of electricity
Oil Price A district court in New Mexico has allowed a lawsuit to proceed against the state’s governor, legislature, and agencies for failing to uphold their state constitutional duty to protect against pollution from oil and gas drilling. The lawsuit, Atencio v. State, was filed by indigenous and environmental groups in 2023, claiming that the state of New Mexico and other
BOE Report U.S. liquefied natural gas (LNG) exporter Venture Global LNG this year became one of the country’s largest producers of the superchilled gas and the industry’s most contentious supplier, facing contract claims by six customers. The duo who founded the company, co-chairs Michael Sabel and Robert Pender, have turned the booming business upside down through strong contracts, good timing
Yahoo Finance HOUSTON/WILMINGTON – A U.S. court is weighing 12 initial bids from private investment funds and companies participating in an auction of shares of refiner Citgo Petroleum’s parent, a court officer said on Tuesday, a level of interest Citgo called “disappointing.” Creditors claiming billions of dollars for past expropriations in Venezuela and defaulted debt have flocked to U.S. courts
World Oil (WO) — The U.S. oil field services sector experienced a slight decrease of 2,926 jobs in May, according to preliminary data from the Bureau of Labor Statistics (BLS) after adjustments to April numbers and analysis by the Energy Workforce & Technology Council. As of May 2024, the sector’s employment stands at 645,345 jobs. Despite signals indicating the job
CNBC Oil prices were steady in early Asian trading on Tuesday as investors awaited inflation data to assess future U.S. monetary policy and the production policy decisions from the OPEC+ meeting on June 2. The Brent crude July contract dropped 3 cents to $83.07 a barrel by 0038 GMT. The more-active August contract slipped 4 cents to $82.85. U.S. West Texas Intermediate (WTI) crude futures
