HOUSTON (Reuters) -Oil prices dipped during the first session of 2024, with economic headwinds from interest rate jitters unraveling gains from worries that tensions in the Red Sea could disrupt supplies.
Brent crude was down 62 cents, or …
Chevron and Spain’s Repsol have quit exploration at two offshore blocks in Mexico waters after early work suggested there are not enough resources to make it worthwhile to continue. The two had won the rights to explore the …
WASHINGTON, July 11, 2023 — The American Petroleum Institute (API) joined with over 100 other trade groups representing diverse businesses across the transportation sector in urging the Biden administration to reverse course on its proposed tailpipe emissions standards …
LONDON – OPEC on Thursday further raised its forecast for Chinese oil demand growth in 2023 following the relaxation of the country’s COVID-19 curbs, although it left the global total steady citing potential downside risks for growth in other …
Russia’s Deputy Energy Minister Pavel Sorokin held a call this month with Western analysts about country’s oil production, trying to convince them that Russia had reduced output as targeted, three sources with knowledge of the call told Reuters …
FIRST QUARTER HIGHLIGHTS
LONDON – BP reported on Tuesday a record profit of $28 billion for 2022 and hiked its dividend, but infuriated climate activists by rowing back on plans to slash oil and gas output and reduce carbon emissions by …
Banks arranged and underwrote more capital for the development of renewable energy projects than for oil, gas, and coal firms for the first time ever last year. Last year’s slump in capital raised by the fossil fuel industry …
The Biden administration has approved plans to build the nation’s largest oil export terminal off the Gulf Coast of Texas, which would add 2 million barrels per day to the U.S. oil export capacity, The Texas Tribune and …
HIGHLIGHTS
(Bloomberg) — Democratic Senator Joe Manchin is enlisting the help of energy-industry executives to marshal Republican support for his plan to speed up the process of getting federal approvals for energy projects, according to people familiar with the …
Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long projects including some in the remote iceberg waters far off Canada’s Atlantic coast.
Surging oil prices are …
Oil prices were slightly down on Friday, but are seeing signs of improving fuel demand, although further gains were capped as the market awaited clues from the U.S. Federal Reserve chairman on the outlook for rate hikes in …
(Bloomberg) — U.S. crude futures fell below $90 a barrel for the first time since February, the month Russia invaded Ukraine.
Futures dropped as much as 1% to $89.80 a barrel. Prices have given up all of …
The Texas power grid will be tested again early next week as another early spring heatwave blankets the state this weekend, prompting homes and businesses to crank up their air conditioners.
The Electric Reliability Council of Texas (ERCOT), …
Here is the response by countries regarding purchases of Russian oil following Moscow’s invasion of Ukraine on Feb. 24, and how companies have acted.
COUNTRIES’ RESPONSES
Australia, Britain, Canada and the United States have imposed outright bans on …
LUXEMBOURG – The European Union’s executive is drafting proposals for an EU oil embargo on Russia, the foreign ministers of Ireland, Lithuania and the Netherlands said on Monday, although there is still no agreement to ban Russian crude.
“They …
Global oil output was already hard pressed to meet the sharp rebound in economic activity in the wake of the COVID pandemic – then came Russia’s invasion of Ukraine.
The International Energy Agency on Tuesday said sanctions and wary …
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(Bloomberg) — The chorus is growing from America’s oil executives for President Joe Biden to throw the federal government’s weight behind an industry he once deliberately shunned: U.S. shale.
The Biden administration, which has made climate one of …
Carbon capture and storage, (CCS) clean hydrogen and floating offshore wind are all low-carbon technologies that are on the cusp of mass commercialisation and where the oil and gas sector could achieve leadership and massive scale. Keen to …
OSLO – DNV, the independent energy expert and assurance provider, is working with Wintershall Noordzee (Wintershall) and the OTH Regensburg University of Applied Sciences to explore how existing natural gas pipelines in the southern North Sea can be …
LONDON – Oil prices rose on Thursday, supported by growing fuel demand and a draw in U.S. crude inventories as production remained hampered in the Gulf of Mexico after two hurricanes.
Brent crude was up 28 cents, or 0.4%, …
Sarawak Shell Berhad, a subsidiary of Royal Dutch Shell plc, announced that it has taken a final investment decision on the Timi gas development project and, together with its partners PETRONAS Carigali Sdn Bhd and Brunei Energy Exploration, …
In its quest to build one of the largest lithium mines in the United States, Piedmont Lithium Inc has overlooked one crucial constituency: its North Carolina neighbors.
Piedmont last autumn signed a deal to supply US electric automaker Tesla 
The province of Alberta said on Thursday it will allow oil sands mining companies to change how they calculate environmental liabilities this year, to take into account the wild swings of 2020, when oil prices turned negative.
Producers …
April 27 – Chesapeake Energy Corp said on Tuesday that Chief Executive Officer Doug Lawler would leave at the end of April, just months after the company emerged from a highly watched bankruptcy reorganization.
Once the second-largest U.S. …
LONDON – Oil slipped for a fourth day on Wednesday as concerns about weaker demand in Europe outweighed an industry report that showed U.S. crude inventories fell unexpectedly last week.
Several European countries have paused the use of AstraZeneca’s …
