Oil & Gas 360– Eighty-three years ago the United States pivoted its foreign policy attention to the Indo-Pacific following Japanese military attacks on US Territories of Hawaii and the Philippines. Shortly thereafter, it also found itself in a war in Europe as well. It could not pivot away from either Europe or the Indo-Pacific. Twenty-first century US foreign policy attention has
(World Oil) – A coalition of oil and gas trade associations, representing over 80% of U.S. domestic production, has issued an urgent call to House Speaker Mike Johnson for immediate action on permitting reform before the close of the 118th Congress. The coalition, comprised of Energy Workforce & Technology Council, Gulf Energy Alliance, International Association of Drilling Contractors, Independent Petroleum Association
(Oil Price) – U.S. clean energy investor Acadia Infrastructure Capital is launching a coalition with tech giant Microsoft as an anchor investor as part of plans to develop $9 billion worth of clean energy projects in the United States, Acadia’s Vice President Brian O’Callaghan told Reuters. Acadia is leading the Climate and Communities Investment Coalition (CCIC) to which other companies apart from
(World Oil) – INEOS with its partners Harbour Energy and Nordsøfonden, has made a Final Investment Decision (FID) on the first commercial phase of Project Greensand, with storage operations set to begin at the end of 2025/early 2026. This decision paves the way for expected investments of more than $150 million across the Greensand CCS value chain. As the first
(Investing) – LONDON – OPEC cut its 2024 global oil demand growth forecast for a fifth straight month on Wednesday and by the largest amount yet, a series of downgrades that highlights China’s sputtering role as the world’s demand growth engine. The weaker outlook underlines the challenge facing OPEC+, which comprises the Organization of the Petroleum Exporting Countries and allies such
Weekly Crude Oil Storage as of December 6, 2024 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 1.4 million barrels from the previous week. At 422.0 million barrels, U.S. crude oil inventories are 6% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,
