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 …
(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 …
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 …
(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 …
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 …
(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 …
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 …
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.…
HOUSTON, March 21, 2024 /PRNewswire/ — Independence Contract Drilling, Inc. (the “Company” or “ICD”) (NYSE: ICD) previously disclosed that ICD’s Board of Directors (“Board”) has initiated a formal review process to begin evaluating …
(Bloomberg) – Oil prices likely will trade at about $85-$90 a bbl in the third quarter even if OPEC+ producers and allies decide not to extend current supply cuts, said Gunvor Group Ltd.’s global head of research and …
(Bloomberg) – The chief of the largest U.S. producer of natural gas has warned that a lack of pipelines and storage facilities will trigger dramatic price swings in the years ahead, causing them to surge as much 350%.…
LONDON – Oil prices were broadly steady on Thursday, shored up by a surprise U.S. crude stock drop and the U.S. Federal Reserve sticking to its outlook on rate cuts for the year.
Brent crude futures for May
(Bloomberg) – Exxon Mobil Corp. won’t move forward with one of the world’s largest, low-carbon hydrogen projects if the Biden administration withholds tax incentives for natural gas-fed facilities, Chief Executive Officer Darren Woods said during an interview.
Under …
(WO) – Following news that the Texas State Board of Education (SBOE) and Chairman Aaron Kinsey would terminate an $8.5 billion contract with BlackRock, Texas Railroad Commissioner Wayne Christian applauded the SBOE’s decision, which protects Texas’ Permanent School …
(WO) – During a discussion titled, “Energy security in a volatile world: The importance of markets” at CERAWeek by S&P Global in Houston, Texas, Hess Corp. CEO and namesake John Hess made an impassioned call to refill the …
A total of 70% of passive funds passed off as “sustainable” by five of the largest asset managers in the U.S. and Europe are exposed to companies developing new oil and gas projects, environmental organization Reclaim Finance said …
WO) – During CERAWeek by S&P Global’s second day, ConocoPhillips’ CEO Ryan Lance announced that his firm’s highly-anticipated Willow project in Alaska is making developmental headway.
Sitting down with S&P Global’s Dan Yergin, Lance also discussed Biden’s controversial …
Oil prices fell on Wednesday after hitting multi-month highs in the previous session, as investors braced for the U.S. Federal Reserve’s interest rate policy announcement later in the day.
Brent crude futures for May were down $1.20 or 1.4% …
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.0 million barrels from the previous week. At 445.0 million barrels, U.S. crude oil inventories …
U.S. oil and gas exploration and production companies spent as much as $234 billion on mergers and acquisitions (M&A) last year—the highest such spend in real dollar terms since 2012, the Energy Information Administration (EIA) said in an …
(Bloomberg) – Chevron Corp.’s discussions with Exxon Mobil Corp. and China’s Cnooc Ltd. over a prolific oil field off the shores of Guyana ended “abruptly” a few weeks ago, Chief Executive Officer Mike Wirth said.
Chevron held constructive …
HOUSTON – The United States should not flip-flop on its gas export policy, Hess CEO John Hess said on Tuesday.
U.S. President Joe Biden’s administration has hit pause on permits for new liquefied natural gas (LNG) export plants …
(Bloomberg) – Exxon Mobil Corp. is open to talking to Chevron Corp. about its proposed takeover of Hess Corp. as the oil giants spar over the deal’s implications for a massive offshore oil project in Guyana, Chief Executive …
LONDON -Oil prices hit four-month highs on Tuesday after breaking above range-bound trading last week, but gains were capped by the prospect of rising exports from Russia as Ukrainian attacks on oil infrastructure curb domestic refining activity.
The …
ExxonMobil announced yet another discovery in its coveted Stabroek block in Guyana. The Bluefin well encountered 197 feet of hydrocarbon-bearing sandstone in 4,244 feet of water, adding to Exxon’s growing list of over 30 oil discoveries …
Global oil demand will not peak for some time so policy makers need to ensure sufficient investment in oil and gas to meet consumption and abandon the fantasy of phasing out the fossil fuels, Saudi Aramco CEO Amin …
Liberty Energy Inc. comments on stay of SEC climate rule and need for affordable, reliable energy to better human lives
Oil and Gas 360
Publisher’s Note: Liberty Energy Chief Executive Officer Chris Wright will be a keynote speaker at EnerCom Denver-The Energy Investment Conference on August 18-21, 2024.
March 20, 2024