Industry & Analysis
News
March 12, 2024
"The changes in President Biden’s proposed budget to oil and natural gas industry tax provisions are a direct attack on America’s smaller independent producers who develop most of the nation’s natural gas and oil wells, and particularly the small marginal operators," said IPAA President and CEO Jeff Eshelman.
News
March 12, 2024
U.S. crude oil production is set to increase to 13.19 MMbpd this year, up from from a previous projection of 13.1 MMbpd, the Energy Information Administration said in its Short-Term Energy Outlook released Tuesday.
News
March 12, 2024
The move comes as Chief Executive Officer Wael Sawan delivers on a plan to allocate a greater portion of investments into oil and gas in order to give better returns to shareholders.
News
March 11, 2024
Job availability increased by 22.5% compared to January as the market continues to steady itself amid global geopolitical conflicts. Meanwhile, the national U.S. unemployment rate rose from 3.7% to 3.9%.
News
March 11, 2024
NEO Energy is one of a handful of newcomers to the UK North Sea that in recent years has swept up oil and gas assets, in particular those from majors who have left the aging basin to pursue higher returns elsewhere.
News
March 11, 2024
The data shows that U.S. crude oil and condensate production averaged 12.9 MMbpdin 2023, breaking the previous U.S. and global record of 12.3 million bpd set in 2019. Average monthly U.S. oil production established a monthly record high in December 2023 at over 13.3 MMbpd.
News
March 11, 2024
Texas leads the nation as the highest producer of both oil and gas, bringing economic prosperity to the state. Reducing the production of domestic oil and gas will only force the U.S. to usher in foreign imports of these essential resources – imports from countries that do not produce a level of cleaner energy that Texas has been able to.
News
March 11, 2024
The $7.6 billion conduit is due to be completed in the second quarter. It will take natural gas from the land-locked Marcellus shale basin in Appalachia to markets in the Southeast and, potentially, to liquefied natural gas (LNG) export terminals on the Gulf Coast.
News
March 10, 2024
The Petrobras delegation visited oil fields in Lake Maracaibo this week in what people familiar with the matter described as a courtesy trip. Maracaibo is a key production region for Venezuela and an opportunity for the country to resuscitate the linchpin of its economy after years of underinvestment.
News
March 08, 2024
In response to President Joe Biden’s comments on climate and oil and gas in his State of the Union address on Thursday night, Jeff Eshelman, President & CEO of the Independent Petroleum Association of America (IPAA) issued a statement.
News
March 07, 2024
The disclosure marks the first time either Hess or Chevron have said Exxon’s push to safeguard its preemption rights in Guyana could delay their merger, initially expected to close by the second half of this year.
News
March 07, 2024
The market is expected to tighten further as the year goes on, CEO Sheikh Nawaf Al-Sabah, said in an interview. U.S. shale production has helped meet some of the recent growth in demand, he added.
News
March 07, 2024
The Chancellor’s plan to continue the tax undermines OEUK’s manifesto proposals for a homegrown energy transition intended to boost domestic energy investment and drive the shift to greater production of wind and hydrogen energy, alongside the introduction of large-scale UK carbon capture and storage facilities.
News
March 07, 2024
The new company will be well positioned to grow into the largest pure-play P&A company in the nation, with the ability to offer customers a one-stop-shop for P&A, well site remediation/reclamation and eventually methane emissions quantification, reduction, and monetization via “carbon credits.”
News
March 07, 2024
API currently has 85 first-edition standards in development—roughly one-third of its active standards projects. These cover emerging topics and fields like repair and remanufacture, stakeholder engagement, and emerging technologies, such as hydrogen operations — to name just a few.
News
March 07, 2024
President Bola Tinubu on Wednesday signed executive orders introducing tax credits for some onshore and shallow-water locations and streamlining contract approvals, the government said in a statement on X. The measures also include some local-content requirements.
News
March 06, 2024
On March 6, the Securities and Exchange Commission (SEC) released its final climate disclosure rule, drawing criticism from oil and gas trade groups for it’s perceived flaws.
News
March 06, 2024
As President Joe Biden prepares to give the State of the Union address, oil and gas trade groups like the Independent Petroleum Association of America (IPAA), American Petroleum Institute (API) and National Ocean Industries Association (NOIA) issued statements on what they would like to hear regarding domestic energy policy and development.
News
March 06, 2024
Exxon filed for arbitration in the International Chamber of Commerce in Paris on Wednesday. Exxon, as 45% owner and operator of the Guyana project, believes it has a right of first refusal over any change of hands in Hess’ 30% stake and would consider matching Chevron’s valuation.
News
March 06, 2024
Hedge fund managers that wagered billions on Chevron Corp.’s October deal to buy Hess Corp. are sticking to their bets despite another roadblock that could potentially torpedo the acquisition.
News
March 06, 2024
The windfall tax has been heavily criticized by the North Sea oil and gas producers for disproportionately impacting smaller companies. While Russia’s war in Ukraine help push up profits for energy giants such as bp Plc and Shell Plc, the bulk of those earnings come from operations outside of the UK and therefore aren’t taxed in Britain.
