World Oil (Bloomberg) – Senator Joe Manchin blasted the Biden administration’s move to halt the approval of new licenses to export U.S. liquefied natural gas (LNG) and vowed to use his power as the chairman of the Senate Energy and Natural Resources Committee to investigate. “If the Administration has the facts to prove that additional LNG export capacity would hurt
Nasdaq Investors that use shareholder resolutions to pressure companies on environmental and social issues said they are worried that an Exxon Mobil XOM.N lawsuit bypassing the U.S. securities regulator could undermine their influence. Under appointees of U.S. President Joe Biden, the Securities and Exchange Commission (SEC) has made it more difficult for companies to prevent these resolutions from moving to a shareholder vote
Nasdaq WASHINGTON – President Joe Biden paused approvals for pending and future applications to export liquefied natural gas from new projects on Friday, a move cheered by climate activists that could delay decisions on new plants until after the Nov. 5 election. The Department of Energy (DOE) will conduct a review during the pause that will look at the economic
BOE Report Exxon Mobil Corp on Sunday filed a complaint in a Texas court seeking to prevent a climate proposal by activist investors from going to a vote during the company’s shareholder meeting in May. This is the first time Exxon is seeking to exclude a shareholder proposal by filing a complaint in court. It says the investors are “driven by
Oil Price The U.S. Environmental Protection Agency (EPA) could introduce new emissions fees for the production of methane in oil and gas projects across the country if approved. This month, the EPA proposed a new rule to encourage clean energy deployment and decarbonisation, as well as to reduce methane emissions, aimed at some of the country’s biggest emitters. Some companies
World Oil WASHINGTON – Independent Petroleum Association of America (IPAA) President and CEO Jeff Eshelman released a statement ahead of the House Energy and Commerce Committee hearing on Wednesday, Jan. 10 at 10:00 a.m. ET examining Environmental Protection Agency (EPA) actions affecting American oil and natural gas operations, particularly those regulations and programs related to methane emissions. IPAA President &
Nasdaq BRUSSELS – Global energy trader Gunvor Group has increased its provision for an expected fine from the U.S. Department of Justice (DOJ) to $650 million, while making just over $1 billion in the first nine months of the year, two sources familiar with the matter said. The DOJ and U.S. Commodity and Futures Trading Commission (CFTC) have been investigating
World Oil AUSTIN – The Railroad Commission of Texas issued a total of 639 original drilling permits in November 2023. The total includes 588 to drill new oil or gas wells, five to re-enter plugged wellbores and 37 for re-completions of existing wellbores. The breakdown of well types for total original drilling permits in November 2023 is: 138 oil, 33
World Oil AUSTIN – Railroad Commissioner Wayne Christian issued a statement regarding new onerous methane rules proposed by the Biden administration’s Environmental Protection Agency (EPA). “While costs for hard-working Americans are up nearly $11,000 this year everywhere from the gas pump to the grocery store, President Biden’s solution to inflation is to increase regulations that will make American oil and
World Oil (WO) – On Saturday, Dec. 2, the Biden administration unveiled a new methane emissions rule at COP28 aimed at “sharply reducing methane and other pollutants from the oil and natural gas industry” by “promoting the use of cutting-edge methane detection technologies,” according to a news release from the U.S. Environmental Protection Agency (EPA). The news release stated,
Nasdaq The Biden administration on Tuesday will auction off 35,000 acres (14,164 hectares) of land in Wyoming to oil and gas drillers, the first in a series of such sales that will coincide with a United Nations’ conference aimed at combating fossil fuel-driven climate change in Dubai. The Interior Department’s U.S. Bureau of Land Management (BLM) will offer 63 drilling
Oil Price In recent times, fears of a spillover in the conflict between Israel and Hamas, which could embroil Iran and its allies in the region, have offered considerable support to oil prices. Unfortunately for the bulls, the oil price momentum has fizzled out with the war risk premium that helped fuel an oil price rally in the early days
