(Oil Price)– The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a build of 1.7 million barrels in the week ending December 26. Crude oil inventories rose by 2.4 million barrels in the week prior. Crude oil inventories in the United States are so far showing a net decrease of 5.1 million barrels for
(Oil Price)– The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a build of 2.4 million barrels in the week ending December 19. Crude oil inventories shrank by 9.3 million barrels in the week prior. Crude oil inventories in the United States are so far showing a net decrease of 6.7 million barrels for
(Investing) – U.S. power outages could increase by 100 times in five years if suppliers fail to add capacity during peak demand, the Department of Energy said on Monday. Blackouts could increase by 100 times in 2030 if the U.S. continues to shutter reliable power sources, DOE noted in a report on grid reliability and security. It cited green policies of
(Investing) – WASHINGTON – U.S. President Donald Trump’s energy security council plans to host a summit in Alaska in early June, when it hopes Japan and South Korea will announce commitments to the Alaska LNG project, a source familiar with the matter said on Thursday. Trump has touted the $44 billion Alaska liquefied natural gas project, which would deliver gas from the state’s
(Oil Price) – The Trump administration is looking into ways to cancel federal loans granted by the Department of Energy for transition projects from a $400-billion fund, Bloomberg has reported, citing an unnamed source. According to the report, the new leadership at the Department of Energy would focus its financial firepower on projects in nuclear energy, liquefied gas and other segments supported
(World Oil) – Pioneer Energy announced today they have been selected by the U.S. Department of Energy for four different awards which collectively total $27 million. Three of these are intended to advance the company’s Emission Control Treater™ (ECT), a breakthrough near zero emissions well pad production technology that can increase crude yield by 5-10%. The ECT is a closed
A rush by the Department of Energy to distribute as many transition loans as possible before Trump takes office has resulted in over $38 billion in loans being issued since the November elections. For context, the total commitments since the passing of the IRA have amounted to $54 billion in loans and loan guarantees. The Financial Times reported the number,
World Oil (Bloomberg) – A federal judge halted Joe Biden’s temporary moratorium on new licenses for exports of U.S. liquefied natural gas (LNG), though the decision is unlikely to immediately jump start approvals. U.S. District Judge James D. Cain Jr. in Louisiana issued a preliminary injunction Monday in a lawsuit filed by 16 states, which argued Biden violated federal law
Oil Price Crude oil inventories in the United States fell by 9.163 million barrels for the week ending June 28, according to The American Petroleum Institute (API), after analysts had expected a 150,000 barrel draw. For the week prior, the API reported a 914,000 barrel build in crude inventories. On Tuesday, the Department of Energy (DoE) reported that crude oil
U.S. News WASHINGTON – The United States could revive some of its recently retired nuclear power plants to help meet rising demand for zero-emissions electricity, or add reactors to existing sites, Energy Secretary Jennifer Granholm said in an interview. The administration of President Joe Biden believes nuclear power is critical to meeting greenhouse gas reduction goals and decarbonizing the economy
Oil Price The Department of Energy has issued an invitation for bids for some 3 million barrels of crude that will go into the strategic petroleum reserve as part of refill efforts. In the announcement, the DoE twice noted that it had sold oil from the SPR at much higher prices than it is buying it now back at, with the difference
World Oil (WO) – MicroSeismic, Inc. will receive $199,721 as part of the Department of Energy grants totaling $16,676,827 to 77 small businesses in 25 states, in support of scientific energy innovation and clean energy development. The MicroSeismic DOE project will focus on a turnkey service to create an electromagnetic monitoring network for use during carbon storage/injection operations.
