Articles by: Oil & Gas 360

Zephyr announces additions to senior management team

Zephyr announces additions to senior management team


RNS Number : 5939I
Zephyr Energy PLC
28 March 2024

28 March 2024

Zephyr Energy plc

(“Zephyr” or the “Company”)

Zephyr announces additions to senior management team

Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF), the Rocky

Source: Reuters

Oil prices up more than $1 a barrel on tighter supply outlook

Yahoo Finance


NEW YORK – Oil prices rose by more than $1 a barrel on Thursday, after falling for two consecutive sessions, as investors anticipated tighter supplies given the OPEC+ producer alliance is widely expected to stay the course on …

Weekly Gas Storage: Inventories increase by 36 Bcf

Weekly Gas Storage: Inventories increase by 36 Bcf

Natural Gas Inventories as of March 22, 2024

The EIA has released its natural gas inventory report, showing a net decrease of 36 Bcf as of March 22, 2024.

Working gas in storage was 2,296 Bcf as of Friday, March …

Source: World Oil

Shale CEOs hesitant to begin new Permian drilling campaigns due to political uncertainty, Dallas Fed says

World Oil


(Bloomberg) – U.S. oil prices are more than high enough to make drilling new wells profitable, but some shale bosses say they’re hesitant because of political and regulatory “uncertainty” that won’t be settled until the November election, according …

Source: Reuters

Western sanctions delay payments for Russia’s oil exports

Oil Price


Russia is seeing months of delays in payments for its oil exports as banks in its major trader partners, including China, the UAE, and Turkey, are now scrutinizing transactions wary of the tighter U.S. sanctions, numerous unnamed sources …

Source: Reuters

Netherlands’ $900 billion pension funds ready to invest big in renewables

Oil Price


The Netherlands’ five largest pension funds have said they are willing to invest billions in the country’s renewable energy sector and the electricity grid. The funds, with a combined 900 billion euros ($975 billion) in assets, have offered …

Source: World Oil

20 U.S. oil and gas trade groups unite against Biden’s “misguided” methane fee

World Oil


(WO) – The American Petroleum Institute (API) joined with 19 associations representing all segments of the U.S. oil and gas industry operating across the country in calling on the U.S. Environmental Protection Agency (EPA) to revise its misguided …

Source: Reuters

Baltimore coal exports blocked after bridge collapse

Oil Price


Baltimore Port’s coal exports are likely to be blocked for weeks after the collapse of the Francis Scott Key Bridge on Tuesday, according to a Pennsylvania coal trading firm.

The bridge collapsed early on Tuesday after a cargo …

Oil and gas production decreased in the first quarter – Dallas Fed

Oil and gas production decreased in the first quarter – Dallas Fed

BOE Report


Oil and gas production in Texas, Louisiana and New Mexico decreased in the first quarter of 2024, the Federal Reserve Bank of Dallas said on Wednesday in its quarterly survey of energy activity.

The survey of executives at …

U.S. crude oil inventories increase by 3.2 million barrels

U.S. crude oil inventories increase by 3.2 million barrels

Weekly Crude Oil Storage as of March 22, 2024

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 3.2 million barrels from the previous week.  At 448.2 million barrels, U.S. crude oil inventories …

OPEC: Oil industry needs $11 trillion in upstream investment by 2045

OPEC: Oil industry needs $11 trillion in upstream investment by 2045

Oil Price


The oil industry will need cumulative investments of $11.1 trillion in exploration and production by 2045 to keep pace with growing energy demand and ensure stable supply, OPEC Secretary General Haitham Al Ghais has told Emirati news agency …

The new era of power demand growth: How AI-driven power demand fits into a changing generation mix

The new era of power demand growth: How AI-driven power demand fits into a changing generation mix

Oil and Gas 360


Energy Shots By  Mobius Risk Group

Summary:

  • The New Era of Power Demand Growth: Two decades of sub-1% annual growth in electricity consumption is nearing its end as AI-fueled power demand sets a new course for
U.S. oil production to hit record amidst declining costs, drilling efficiencies, Macquarie predicts

U.S. oil production to hit record amidst declining costs, drilling efficiencies, Macquarie predicts

World Oil


(Bloomberg) – U.S. oil production is set to end the year at a record pace of about 14 MMbpd as falling costs and improved drilling efficiency overshadow subdued growth plans from publicly listed companies, Macquarie Group Ltd. analysts …

Source: Oil Price

U.S. gas producer optimistic despite very low natural gas prices

Oil Price


Despite multi-year low natural gas prices in the United States, domestic producers continue to be optimistic about the long-term prospects of gas as a fuel, both in America and abroad.

The current oversupply in the U.S. natural gas …

Source: World Oil

VAALCO Energy finalizes development plan for Venus-Block P discovery offshore Equatorial Guinea

World Oil


(WO) – VAALCO Energy, Inc. announced that all partners have signed the final documents and the Government of Equatorial Guinea has approved the Joint Operating agreement (“JOA”) related to the Venus-Block P Plan of Development (“POD”). The Block …

Oil steadies as markets weigh Russian supply woes

Oil steadies as markets weigh Russian supply woes

US News


LONDON – Oil was little changed on Tuesday after rising in the previous session as investors took a more mixed view toward the loss of Russian refinery capacity after recent Ukrainian attacks while a slightly weaker U.S. dollar

Source: World Oil

Court upholds 2022 offshore oil and gas lease sales following Biden’s “unlawful” leasing ban

World Oil


(WO) – Western Energy Alliance won a significant victory in court last Friday as the U.S. District Court for the District of Columbia upheld the first offshore oil and gas lease sales of the Biden administration, held in …

Source: Reuters

Brent crude tops $87 as geopolitics threatens tight supply

Oil Price


Brent crude oil surged past $87 on Monday as Russia’s war on Ukraine increasingly focuses on attacks on energy installations, and as mediation in the Israel-Gaza conflict fails.

On Monday at 10:14 a.m. ET, Brent crude was trading …

Source: Reuters

Shell sells interest in U.S. offshore wind joint venture as company refocuses on oil and gas

World Oil


(WO) – Shell New Energies US LLC has sold its 50% equity share in SouthCoast Wind Energy LLC to joint venture partner Ocean Winds North America LLC.

SouthCoast Wind is a 50-50 joint venture between Shell and Ocean

Source: Reuters

US awards record $6 bln to back industrial emissions reduction projects

Nasdaq


WASHINGTON – The U.S. Energy Department on Monday announced $6 billion in federal funding to subsidize 33 industrial projects in 20 states to cut carbon emissions, saying the investment would support well-paying union jobs and boost U.S. competitiveness.

Energy …

Source: Reuters

World’s top oilfield services provider not leaving Russia

Oil Price


SLB, the biggest oilfield services firm in the world, is not planning to abandon its business in Russia, chief executive Olivier Le Peuch told the Financial Times in an interview published on Monday.

Pressure has mounted on companies, …

Source: Reuters

EXCLUSIVE-Russia orders companies to cut oil output to meet OPEC+ target

Nasdaq


MOSCOW – Russia’s government has ordered companies to reduce oil output in the second quarter to ensure they meet a production target of 9 million barrels per day (bpd) by the end of June in line with its pledges …

Source: Reuters

World oil demand outpacing expectations, challenging peak crude predictions

World Oil


(Bloomberg) – The world is using more oil than ever and demand is outpacing expectations again this year, raising questions about how soon global consumption will peak.

The unabated thirst for crude contributed to an increasingly confident tone …

Source: Reuters

BlackRock dismayed by Texas Fund decision to divest $8.5 billion in assets

Oil Price


BlackRock has asked Texas authorities to reconsider the withdrawal of $8.5 billion in assets of the Permanent School Fund from the asset manager.

The decision to withdraw from BlackRock was announced earlier this week by the Texas State …

Source: World Oil

November presidential election critical to secure Alaska’s energy future, Gov. Dunleavy reports at CERAWeek

World Oil


(WO) – During CERAWeek by S&P Global’s fourth day in Houston, Texas, Vice Chairman Dan Yergin sat down with Mike Dunleavy, Alaska’s Governor, to discuss the future of Alaskan energy.

Alaska’s “extraordinary” resource potential. During the discussion …

Source: Reuters

Brazil exploring ways to import gas from Argentina’s Vaca Muerta play, energy minister says

Nasdaq


HOUSTON – Brazil is exploring ways to import natural gas from Argentina’s massive Vaca Muerta formation, including the possible reversal of a pipeline now used for transporting Bolivian gas, as it looks to ease its gas deficit, Mines and …

Source: Reuters

Department of the Interior proposes second offshore wind auction in Gulf of Mexico

World Oil


(WO) — The Department of the Interior announced its proposal for a second offshore wind energy auction in the Gulf of Mexico. The proposed lease sale includes four areas offshore Louisiana and Texas, totaling 410,060 acres, which the …

U.S. rig count had a decrease of 5 this week, at 624

U.S. rig count had a decrease of 5 this week, at 624

Oil and Gas 360


This week’s Baker Hughes Rig Count shows that U.S. had a decrease of 5 over last week, resulting in a total count of 624 rigs. Canada had a decrease of 38 over last week, resulting in …

Source: Reuters

EXCLUSIVE-Mexico’s Pemex put off repairs despite vast methane leaks: documents and sources

Nasdaq


MEXICO CITY – Mexican state energy company Pemex put off urgent repairs and maintenance at an important offshore platform for months, resulting in methane spewing into the atmosphere, according to internal documents and three sources familiar with the infrastructure.…

Source: Reuters

Exxon slightly ahead of schedule to double its LNG portfolio by 2030

Oil Price


ExxonMobil is slightly ahead of schedule in its work to double its LNG portfolio by 2030, Peter Clarke, senior vice president for global LNG, has told Reuters in an interview.

In 2020, Exxon said it aims to …