(Oil Price) – The U.S. federal government will reduce costs for oil and gas drillers by slashing red tape for the industry, aiming to tempt drillers to expand on federal lands. In a news release this week, the Interior Department said it would revise the Bureau of Land Management’s rule for federal land leasing for oil and gas drilling as well as the
(Oil Price) – Saudi oil giant Aramco expects AI and other advanced technology to have helped it achieve in 2025 a technology realized value of between $3 billion and $5 billion, chief executive Amin Nasser said on Tuesday. The world’s biggest oil firm in both production and market capitalization had total realized technology value of $6 billion in the period 2023-2024, the executive
(World Oil) – Senate Republicans included a tax break estimated to be worth more than $1 billion for oil and gas producers in their version of President Donald Trump’s sprawling fiscal package. The provision would allow energy companies subject to a 15% corporate alternative minimum tax to deduct certain drilling costs when calculating their taxable income. Companies including ConocoPhillips, Ovintiv Inc. and Civitas
