March 16, 2026 - Oil & Gas 360

U.S. Electricity Demand Surge: Forecasts and investment outlook: by Oil & Gas 360- oil and gas 360

The Power Behind the AI Boom: Why U.S. electricity demand is rising again: by Oil & Gas 360

March 16, 2026

(By Oil & Gas 360) – For nearly two decades, electricity demand in the United States remained largely unchanged. Efficiency improvements, slower industrial growth, and shifts in the economy kept overall power consumption relatively flat. That period may now be ending. Electricity Demand Outlook A combination of artificial intelligence infrastructure, data center expansion, electrified transportation, and the reshoring of manufacturing is beginning

Europe’s Natural Gas Price Spike: Structural Policy Choices Come Home to Roost

March 16, 2026

(Oil & Gas 360) By Greg Barnett, MBA – European natural gas prices have spiked sharply once again, underscoring that Europe’s energy vulnerability is structural rather than cyclical. After trading in a relatively narrow range through much of January and February 2026, prices surged abruptly in early March. The scale and speed of the move reinforce how exposed Europe remains

Eni discovers more than 1 Tcf of gas offshore Libya near Bahr Essalam field

March 16, 2026

(World Oil) – The discoveries were made at the Bahr Essalam South 2 (BESS-2) and Bahr Essalam South 3 (BESS-3) structures, located about 85 km offshore in roughly 650 ft of water and approximately 16 km south of the Bahr Essalam gas field. The wells—B2-16/4 and C1-16/4—encountered gas-bearing intervals within the Metlaoui Formation, the main producing reservoir in the area. According

BofA raises Brent oil price forecast for 2026 on Strait of Hormuz disruptions

March 16, 2026

(Investing) – Bank of America has raised its Brent oil price forecast for 2026 as disruptions in the Strait of Hormuz tighten global supply and accelerate inventory drawdowns. The bank now expects Brent crude to average $77.50 per barrel in 2026, up from a prior estimate of $61, reflecting the growing impact of the conflict on global oil flows. The new

Middle East war revives interest in Alaska LNG

March 16, 2026

(Oil Price) – Interest in the Alaska LNG export project has spiked since the war in the Middle East choked 20% of global LNG supply and sent Asian buyers scrambling for expensive spot cargoes. Glenfarne Group, the majority owner and developer of the Alaska LNG Project, aims to sign soon binding offtake agreements with buyers and advance final investment decisions to

California orders Sable offshore to remove Santa Ynez pipeline crossing state park

March 16, 2026

(World Oil) – California’s Natural Resources Agency has ordered Houston-based oil driller Sable Offshore Corp. to remove a pipeline crossing a state park days after the US government instructed the company to begin pumping crude through the conduit. US Energy Secretary Chris Wright, following an executive order signed by President Donald Trump, directed Sable on Friday to begin restoring operations

Mach Natural Resources: Q4 snapshot, KPIs in focus, and what management is signaling for 2026

March 16, 2026

(Oil & Gas 360) – Mach Natural Resources closed 2025 with a straightforward story: steady production, disciplined spending, and a cash distribution that remains front and center. In the fourth quarter, total volumes averaged about 154,000 BOE per day, with development drilling additions exceeding 2025 production by 18%. Adjusted EBITDA printed roughly $187 million against total revenue of nearly $388

ExxonMobil, Halliburton deploy closed-loop automated drilling in Guyana

March 16, 2026

(World Oil) – ExxonMobil and Halliburton have completed what the companies describe as the industry’s first fully automated closed-loop geological well placement system during offshore drilling operations in Guyana. The project integrated rig automation, automated subsurface interpretation and geosteering, and real-time drilling optimization into a single digital workflow designed to improve well placement accuracy and operational efficiency. Halliburton deployed its LOGIX™ orchestration platform alongside

Oil prices inch below $105 as Trump calls for Hormuz intervention help

March 16, 2026

(Investing) – Oil prices edged down from $105 a barrel on Monday, as markets assessed a request from U.S. President Donald Trump for other countries to help restore shipping through the Strait of Hormuz. Brent oil futures — the global benchmark — fell 1.2% to $101.91 a barrel, while U.S. West Texas Intermediate crude futures declined 2.8% to $94.09 a barrel by 11:20

Premium Content