(Oil & Gas 360) – After two years of industry opposition to the $740 billion Inflation Reduction Act (IRA), touted by its proponents as the single largest effort by the U.S. government to promulgate a federal-level climate change investments and tax credit policy, several of the country’s largest oil companies are finding elements of the law so attractive that they are
(World Oil) – Hilcorp Energy Co., the privately held oil producer run by billionaire Jeff Hildebrand, will pay a $9.4 million civil penalty for failing to reduce emissions of methane and volatile gases in New Mexico. It’s the first settlement to address violations from fracing under the Clean Air Act’s New Source Performance Standards, the Department of Justice and Environmental
(Oil Price) – The EU’s natural gas storage is already at 95% full, data from Gas Infrastructure Europe show, after the bloc reached in August its target to have 90% full storage well ahead of its self-imposed binding deadline, November 1. In the middle of August, the EU reached its target of filling gas storage facilities to 90% of capacity 10 weeks ahead of
(World Oil) – Phoenix Capital Group has announced significant results from its latest wells in the Williston Basin, North Dakota. Since becoming an operator in the region in September 2023, Phoenix has rapidly expanded its footprint, now managing 37 gross operated wells, with 26 currently in production. Most of the wells are less than a year old, marking Phoenix’s swift
(Oil Price) – Spanish energy giant Repsol has decided to pause green hydrogen development projects in its home country, citing an unfavorable regulatory regime with the idea of a permanent windfall tax on energy companies, a spokesperson for Repsol told Reuters on Monday. The Spanish firm has a pipeline of 350 megawatts (MW) of electrolysis capacity for green hydrogen projects across Spain, but
(Investing) – LONDON – Oil prices rose on Monday, recouping some of last week’s more than 7% decline on worries about demand in China, the world’s top oil importer, and easing concerns about potential supply disruptions in the Middle East. Brent crude futures were up $1.10, or 1.51%, at $74.16 a barrel at 1308 GMT. U.S. West Texas Intermediate crude futures were
(BOE Report) – CALGARY – Nearly six months after its opening, the Trans Mountain pipeline expansion is boosting Canada’s energy sector as promised — but questions still linger about who will pay for the project’s massive cost overruns. By a variety of measures, the expensive and contentious pipeline project is bearing fruit as more Canadian oil reaches the West Coast
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