Oil Price 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 White House adviser John Podesta. The IRA, passed in August last year, has nearly $370 billion in climate and clean
Nasdaq 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 internal debate. The open letter, posted earlier this month on Shell’s internal web and seen by Reuters this week, comes after Sawan
World Oil (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,” Occidental Chief Executive Officer Vicki Hollub said during an interview with Bloomberg Television. “Only in a market where we see balance
Yahoo Finance 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 barrel by 1342 GMT. U.S. West Texas Intermediate (WTI) crude futures climbed $1.82 to $92.21. “Until a decision to raise production
Yahoo Finance (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. Source: Reuters Crude output in the Permian Basin will one day peak as it already has in rival shale fields such as the Bakken region
Oil and Gas 360 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, structured as a Sustainability-Linked Loan. The borrowing base under the facility was increased to $425 million from $375 million with 100%
World Oil (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 Security Summit in Oklahoma City on Monday. “With better policy, we would be beyond that.” Source: World Oil Energy policy needs
Oil and Gas 360 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”), subject to market conditions, intend to offer and sell to qualified institutional buyers pursuant to Rule 144A under the Securities Act
Oil Price 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 previous owner, Lotus Midstream for $1.4 billion. The Centurion Pipeline runs from New Mexico, ending in Cushing, Oklahoma, with laterals that extend
BOE Report 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 federal government corporation that is building the expansion, had sought a route deviation on a 1.3-kilometre (0.8 mile) section of
World Oil (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 oil wells have come down recently, Chief Executive Officer Rick Muncrief said during an interview with Bloomberg Television on Monday. Still,
Oil Price 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 end, again. What all these forecasters have in common is that all of them point out a discrepancy between demand
