(WO) – The Forties Pipeline System moves 40% of the UK’s oil from the North Sea through Grangemouth where it is processed for distribution throughout the UK. Over the 6 years of INEOS ownership, oil flows through the …
A government shutdown could slow down U.S. clean energy investments as it could delay billions of dollars worth of incentives under the Inflation Reduction Act (IRA) for which the Administration is still fine-tuning the details, according to senior …
LONDON – Shell SHEL.L CEO Wael Sawan has come under pressure over his strategy from within the energy company after two employees issued a rare open letter urging him not to scale back investments in renewable energy, sparking an …
(Bloomberg) – Occidental Petroleum Corp. plans to keep its production steady even as oil prices have surged in recent weeks above $90 a barrel. “We don’t increase oil significantly in a market where we don’t see the balance,” …
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.2 million barrels from the previous week. At 416.3 million barrels, U.S. crude …
LONDON (Reuters) – Oil prices surged more than $1 on Wednesday, as markets focused on low global supply in the run-up to winter, throttled by OPEC+ production cuts. Brent crude futures broached $95, up $1.55 to $95.51 a …
(Bloomberg) — Oil is headed as high as $150 a barrel unless the US government does more to encourage exploration, according to Continental Resources Inc., the shale driller controlled by billionaire Harold Hamm.
Crude output in the Permian …
BIRMINGHAM, AL / ACCESSWIRE / September 26, 2023 / Diversified Energy Company PLC (LSE:DEC) (“Diversified” or “the Company”) is pleased to announce its completion of the semi-annual borrowing base redetermination for the Company’s revolving credit facility, …
(Bloomberg) – U.S. oil production is being held back by inconsistent energy policy, Chevron Chief Executive Officer Mike Wirth said. “I hear people say, ‘We’re back up to record levels of production,’” Wirth said during the American Energy …
DENVER–(BUSINESS WIRE)– Sitio Royalties Corp. (NYSE: STR) (“Sitio” or the “Company”) today announced that its subsidiaries, Sitio Royalties Operating Partnership, LP (the “Partnership”) and Sitio Finance Corp. (the “Co-Issuer” and together with the Partnership, the “Issuers”), …
Energy Transfer LP shuttered its Centurion Pipeline on Monday after it was struck by a road worker, the pipeline company said in an email to Bloomberg. Energy Transfer LP acquired the pipeline earlier this year when it acquired …
The Canada Energy Regulator (CER) approved a route change request for the Trans Mountain oil pipeline expansion on Monday, clearing a major hurdle and avoiding months of delay for the Canadian government-owned project.
Trans Mountain Corp (TMC), the …
(Bloomberg) – Devon Energy Corp. expects to spend less next year to sustain oil and natural gas production as record oil field inflation begins to abate. Costs for drilling rigs and steel used to line the inside of …
Earlier this week, Morgan Stanley said in a note that all signals for crude all were “flashing tightness”. The investment bank joined a growing number of forecasters expecting Brent crude to top $100 per barrel before the year’s …
(Bloomberg) –Shale billionaire Harold Hamm, who has backed several Republican presidential candidates for election in 2024, called for the end of back-and-forth U.S. energy policy that raises costs from one administration to the next.
The founder of Continental …
An advisor to President Biden is the latest to call on the U.K. and Europe to follow in the footsteps of the U.S. and increase their investment in green technology. The U.K. and the rest of Europe have …
LONDON – Oil prices may be near $100 a barrel, but a range of factors could prevent a sustained rally above that level, analysts say. They include a projected rise in non-OPEC production, in addition to Russia’s need to …
HOUSTON – Chevron Corp (CVX.N) plans to add 65,000 barrels per day (bpd) of Venezuelan oil output by the end of 2024 through its first major drilling campaign in the nation since Washington allowed it to restore production …
ATLANTA, Sept. 21, 2023 (GLOBE NEWSWIRE) — After discussions with shareholders and potential suitors for Pipestone I am providing you with my final update before the shareholder vote on the Strathcona Pipestone merger. …
PARIS, Sept 22 (Reuters) – TotalEnergies TTEF.PA is expected to lay out the potential for its oil discoveries in Namibia at an investor day next week as the French energy firm continues to bet on oil and gas to …
(Bloomberg) – Oil ministers and fossil-fuel company executives descended on Canada’s energy capital this week for the World Petroleum Congress. And even as oil prices threatened to break the $100-per-barrel mark, it was the global transition to cleaner …
(Bloomberg) – The Biden administration has been ordered by a federal judge to expand its sale of Gulf of Mexico oil leases later this month. The Louisiana-based judge concluded that the Interior Department probably moved wrongly at “the …
(WO) – There are currently more than 4,500 orphan oil wells in Louisiana. Nearly 450 of these wells were tagged “orphan” in 1994, which means they have been dormant, and have possibly been leaking methane gas for nearly …
This week’s Baker Hughes Rig Count shows that U.S. had a decrease of 11 over last week, resulting in a total count of 630 rigs. Canada had no change over last week, resulting in a total …
Phasing out fossil fuels is unrealistic as oil, natural gas, and coal will continue to play a crucial role in global energy supply and energy security, China’s special climate envoy Xie Zhenhua said this week in a speech …
Oil prices rose on Friday as renewed global supply concerns from Russia’s fuel export ban counteracted demand fears driven by macroeconomic headwinds and high interest rates. Brent futures were up 80 cents, or 0.86%, at $94.10 a barrel by …
NEW YORK – Contrarian investors were rewarded for betting on the beaten down U.S. energy sector earlier this year with a blazing rally. Some believe a tight oil market and resilient U.S. growth will keep energy stocks rising for …
OKLAHOMA CITY–(BUSINESS WIRE)– Gulfport Energy Corporation (NYSE: GPOR) (“Gulfport” or the “Company”) announced today that its board of directors expanded its common stock repurchase authorization by 63 percent to $650 million. This increased authorization extends the …
Iraq’s Prime Minister Mohammed Shiaa al-Sudani is meeting this week in New York with representatives of dozens of U.S. energy companies to pitch potential investments in the Iraqi natural gas sector.
“My government is serious about investment in …
(Bloomberg) — Oil resumed its breakneck rally on Thursday after Russia banned gasoline and diesel exports, further tightening an already stressed global fuel market. The measures, designed to stabilize Russia’s domestic fuel prices, will remove supplies from the …
