Industry & Analysis
News
April 03, 2024
The Energy Department said it was “keeping the taxpayer’s interest at the forefront” in its decision not to purchase as many as 3 MMbbl of oil for a Strategic Petroleum Reserve site in Louisiana.
News
April 02, 2024
Lawyers for Shell said on the first day of the appeal in The Hague that a 2021 ruling ordering the oil and gas giant to slash its greenhouse gases faster had no legal basis, would be ineffective and counterproductive and could have disastrous consequences for the Netherlands.
News
April 02, 2024
The acquisition will help SLB expand its artificial lift technology, which helps keep output from older wells flowing. SLB has the biggest market share in artificial lift with 21%, and ChampionX will add to that with its 5% of the market, according to Evercore ISI, citing data from industry consultant Spears & Associates.
News
April 01, 2024
In 2024, ADNOC Gas will continue enhancing operational efficiency and driving accelerated growth with a focus on decarbonization, digital transformation, and artificial intelligence (AI)-led technology innovation.
News
March 31, 2024
American Petroleum Institute (API) President and CEO Mike Sommers and American Fuel & Petrochemical Manufacturers (AFPM) President and CEO Chet Thompson issued a statement on EPA’s newly finalized heavy-duty vehicle standards covering model years 2027 through 2032:
News
March 31, 2024
India — the third-largest crude importer and Moscow’s second largest buyer after China — is the latest market seeing an influx of U.S. oil. American shipments to India are set to jump in March to the highest in nearly a year, according to data from crude tracking firm Kpler.
News
March 28, 2024
Market sentiment still lacks the exuberance of early 2023, when traders widely proclaimed the return of $100 oil, but Wall Street banks like Morgan Stanley and trading giants such as Trafigura Group are predicting further price gains.
News
March 28, 2024
The announcement Thursday brings the total amount of oil the U.S. has purchased for the inventories since last year to 32.3 MMbbl. The Energy Department has paid an average price of under $77 per bbl, below the average price of $95 it sold for in 2022, the agency said in a statement.
News
March 28, 2024
The Houston-based company said in a letter to shareholders Thursday that Kimmeridge’s unsolicited offer to combine its Texas gas assets with SilverBow in exchange for 32.4 million shares priced at $34 each significantly undervalues the company.
News
March 28, 2024
The West African country is set to open the taps this year on the $4.8 billion Grand Tortue Ahmeyim liquefied natural gas (LNG) project and Sangomar oil development after numerous delays, setting it up to become one of the world’s fastest-growing economies.
News
March 28, 2024
Libya holds Africa’s largest crude reserves, but over a decade of political strife has taken its toll. Production that reached almost 1.8 MMbpd in 2008 slumped to some 100,000 bpd following the killing of Moammar Al Qaddafi in 2011’s civil war. Volatile ever since, it’s currently at about 1.2 MMbpd.
News
March 27, 2024
In comments submitted to the Environmental Protection Agency on the “waste emissions charge” proposed rulemaking, the associations argued that EPA’s proposed rule creates an incoherent regulatory regime, fails to meet the statutory requirements outlined by the Inflation Reduction Act and disincentivizes emissions reduction efforts by the industry.
News
March 27, 2024
Acquiring the assets, which include recently purchased fields from Neptune Energy Group, would boost Ithaca’s North Sea production at a time when larger players are withdrawing from the aging basin.
News
March 26, 2024
Last week, the Biden administration finalized a new regulation that will effectively eliminate most new gas-powered cars and traditional hybrids from the U.S. market in just eight short years. Consumers have made clear over the past year that they value the freedom to choose a vehicle that’s best for them – not intrusive government mandates that risk higher costs and a greater reliance on foreign supply chains.
News
March 25, 2024
Shell powers on as the world’s most valuable oil and gas brand. Aramco, PetroChina, and Sinopec remain in second, third, and fourth, respectively, and bp has re-entered the top five. Behind QatarEnergy, Pioneer Natural Resources is the second-fastest growing brand, up 35% to $4.5 billion, followed by EOG Resources, up 35% to $3.5 billion.
News
March 25, 2024
Judge Christopher Copper ruled in favor of the Bureau of Land Management’s (BLM) greenhouse gas (GHG) analysis that served as the basis of the sale of 162 leases in Wyoming, Montana, North Dakota, Oklahoma, New Mexico, Nevada, and Colorado.
News
March 22, 2024
The integration of RMSpumptools technology will enhance ChampionX's Production and Automation Technologies portfolio, providing added value to the company’s customers worldwide.
News
March 22, 2024
The unabated thirst for crude contributed to an increasingly confident tone from executives at this year’s CERAWeek by S&P Global conference, the industry’s annual get together in Houston, America’s energy capital.
News
March 21, 2024
During the discussion and following press conference, Gov. Dunleavy made it clear that Alaskan resources are “extraordinary” due to the state’s unique location and history. Alaska’s proven reserves include over 100 Tcf of natural gas and billions of barrels of oil.
News
March 21, 2024
Operators were ordered to come into compliance with Commission rules and assessed $367,026 for any oil and gas, LP-Gas, critical infrastructure, or pipeline safety rule violations.
News
March 20, 2024
If Saudi Arabia and allies extend cuts beyond the second quarter, that could send prices even higher, Frederic Lasserre said during the CERAWeek by S&P Global conference in Houston. Cuts beyond the second quarter currently are not planned.
