December 12, 2024

Texas oil and gas producer fights back against $250M insurance demands

December 12, 2024

(World Oil) – An independent Texas oil and gas producer is striking back against a group of insurance companies, which collectively are seeking $250 million in collateral beyond what the oil company has already contracted for bonds backing its production activities. The energy company, Houston-based W&T Offshore, is asking a federal judge to declare insurers have colluded to damage the

Argentina to eclipse Colombia as oil production growth continues

December 12, 2024

(Oil Price) – Crude oil production in the Vaca Muerta shale formation in Argentina is about to hit 1 million barrels per day this decade. The forecast came recently from Rystad Energy, and on its heels came another forecast, from the EIA: Argentina will soon eclipse Colombia as the third-largest oil producer in South America. It’s time for a new shale boom. Crude oil

Summit carbon project would be reassessed if tax credits repealed, attorney says

December 12, 2024

(Investing) – The Summit Carbon Solutions’ massive carbon dioxide pipeline project proposal would need to be reassessed if the United States repeals tax credits for carbon capture and storage, a company attorney said on Thursday. Summit intends to capture carbon dioxide from 57 ethanol plants across the Midwest and transport it along a pipeline more than 2,000 miles (3,218 km)

Russian Rosneft, India’s Reliance strike biggest-ever oil deal

December 12, 2024

(Oil Price) – Russia’s state oil firm Rosneft has agreed to supply nearly 500,000 barrels per day (bpd) of crude to India’s Reliance Industries in the biggest oil supply deal between the two countries, Reuters reported on Thursday. The 10-year agreement is worth roughly $13 billion a year at current prices. Under the deal, Rosneft will deliver 20-21 Aframax-sized cargoes (80,000 to 100,000 metric tons)

Oil little changed as IEA surplus forecast offsets rate cut optimism

December 12, 2024

(Investing) – LONDON -Oil prices were little changed on Thursday as a forecast for ample supply in the oil market offset optimism stemming from rising expectations of a U.S. interest rate cut. Brent crude futures were down 23 cents, or 0.3%, at $73.29 a barrel by 1421 GMT. U.S. West Texas Intermediate crude futures were down 27 cents, or 0.4%, at $70.02.

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

Weekly Gas Storage: Inventories decrease by 190 Bcf

December 12, 2024

Natural Gas Inventories as of December 6, 2024 The EIA has released its natural gas inventory report, showing a net decrease of 190 Bcf as of December 6, 2024. Working gas in storage was 3,747 Bcf as of Friday, December 6, 2024, according to EIA estimates. This represents a net decrease of 190 Bcf from the previous week. Stocks were

Texas oil and gas producer fights back against $250M insurance demands

Argentina to eclipse Colombia as oil production growth continues

Summit carbon project would be reassessed if tax credits repealed, attorney says

Russian Rosneft, India’s Reliance strike biggest-ever oil deal

Oil little changed as IEA surplus forecast offsets rate cut optimism

Weekly Gas Storage: Inventories decrease by 190 Bcf

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