(World Oil) – (Bloomberg) – Diamondback Energy Inc. is in talks to form a power joint venture that would solve some of the shale giant’s own needs in the Permian Basin while also selling electricity to artificial intelligence data centers in West Texas. Diamondback says it’s looking for an equity stake in a gas-fired power plant that would be built on
(BOE Report) – Crude oil exports by Mexican state energy company Pemex plunged 44% year-on-year in January to 532,404 barrels per day (bpd), its lowest in decades, official numbers show, as the company has admitted it is struggling with crude quality. The monthly level is the lowest since records in their current form began in January 1990. Last year, exports
(Investing) – CALGARY – The Canadian government would have to play a significant role in any project to build new oil pipelines in Canada to overcome regulatory, financial and political hurdles and activist opposition, industry experts said. With U.S. President Donald Trump threatening tariffs on Canadian oil exports, several Canadian politicians have called for new pipelines to coastal export terminals to
(World Oil) – The energy transition will be more difficult, costly, and complicated than expected, according to a new article by Daniel Yergin, Vice Chairman, S&P Global; Peter Orszag, CEO and Chairman, Lazard; and Atul Arya, Chief Energy Strategist, S&P Global. Writing in the March-April edition of Foreign Affairs, they say that it is time to rethink priorities, polices and
(Investing) – NEW YORK -Oil prices held at two-month lows on Wednesday as a surprise build in U.S. fuel stockpiles signalled demand weakness and a potential peace deal between Russia and Ukraine continued to weigh on prices. Brent crude was down 31 cents, or 0.42%, at $72.71 a barrel by 11 a.m. EST (1600 GMT) and U.S. West Texas Intermediate crude oil futures fell
Weekly Crude Oil Storage as of February 21, 2025 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.3 million barrels from the previous week. At 430.2 million barrels, U.S. crude oil inventories are 4% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,
(Oil & Gas 360) – According to Martin Purvis, CEO of Westmoreland Mining, rumors of coal’s death are vastly premature. Purvis delivered his worldview on the mineral’s future at the Colorado Mining Association’s 127th National Western Mining Conference in Denver; the conference concludes on February 26. A central premise of Purvis’ remarks was that global competition in the 21st century
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