U.S. Offshore
News
July 26, 2021
The Whale development, owned by Shell Offshore Inc. and Chevron U.S.A. Inc., is expected to reach peak production of approximately 100,000 barrels of oil equivalent per day and currently has an estimated, recoverable resource volume of 490 million barrels of oil equivalent.
News
July 23, 2021
Natural gas futures soared to $4 per million British thermal units in the U.S. for the first time since December 2018 as summer heat intensified concerns about tight supplies later this year.
News
July 20, 2021
BHP has long said the oil business was one of its strategic pillars, and argued that it will make money for at least another decade. But as the world tries to shift away from fossil fuels, the company wants to avoid getting stuck with assets that become more difficult to sell, according to insiders.
News
July 20, 2021
Despite volatility in global oil markets, U.S. crude oil exports reached a record high in 2020, maintaining momentum in 2021 with crude oil exports reaching 3.00 million barrels per day (bpd).
News
July 20, 2021
“As global economies continue to recover from the COVID-19 pandemic, we are seeing strong demand for energy-related products originating in Texas,” said Sean Strawbridge, Chief Executive Officer for the Port of Corpus Christi.
News
July 15, 2021
Oil fell for a second day after a surprise jump in U.S. gasoline stockpiles tempered signs that the American market has returned to robust health.
News
July 14, 2021
While gasoline and diesel demand have returned to pre-pandemic levels, a surge in petroleum use for products such as plastic, asphalt, lubricants and other industrial needs is propelling the recovery.
News
July 12, 2021
The Biden administration is preparing to release a blueprint for limiting sales of U.S. drilling rights as rising oil and gasoline prices highlight the risks of curtailing domestic crude production.
News
July 08, 2021
Oil rebounded after a U.S. government report showed rapidly declining inventories and record-high fuel demand in the midst of the peak summer travel season.
News
July 07, 2021
Oil companies will produce 20,000 barrels a day more than previously forecast for this year, at 11.1 million barrels, the Energy Information Administration said in a report on July 7th.
News
July 07, 2021
Biden administration officials are “encouraged” by ongoing OPEC talks and have spoken with officials in Saudi Arabia and the United Arab Emirates in hopes of reaching an agreement to stem the rise in crude prices, White House Press Secretary Jen Psaki said.
News
July 06, 2021
The Biden administration is urging OPEC and its allies to find a compromise solution to increase oil production, according to White House officials familiar with the discussions.
News
July 01, 2021
Over the last four weeks total stockpiles, including the Strategic Petroleum Reserve, have fallen at a rate of 1.15 million barrels a day, marking the largest four-week decline on a rolling basis in Energy Information Administration Data going back to 1982.
News
June 23, 2021
Iran and the U.S. are haggling over problems with the nuclear deal that predated the Trump administration’s 2018 withdrawal from the accord, a top Iranian government official said, suggesting that negotiations to bring Washington back into the fold have become more complicated than previously known.
News
June 23, 2021
Philip LeJeune, LLOG’s President and CEO said “We are pleased to announce first oil from our Praline field, our first pipe-in-pipe tieback, and the continued successful development of our high quality prospect inventory. Praline is the first of four tieback projects we expect to have online in the next year."
News
June 23, 2021
BP announced a significant milestone with the safe start-up of the Manuel project in the US Gulf of Mexico, the fourth of five major projects expected to be delivered globally in 2021.
News
June 22, 2021
A key spread between monthly oil futures contracts has blown out to the widest level in seven years as traders bet that U.S. crude inventories are about to get a whole lot tighter.
News
June 21, 2021
President Joe Biden’s administration rejected Nicolas Maduro’s call for relief from U.S. sanctions, saying the Venezuelan leader needs to do more toward restoring democracy before penalties would be lifted.
News
June 18, 2021
A former judiciary chief with support from the highest levels of Iran’s religious and military establishment, Ebrahim Raisi’s election means that all of Iran’s state institutions and levers of power will be controlled by ultraconservatives.
News
June 16, 2021
"Now is the time for the administration to put an end to this ‘import more oil’ policy that threatens American jobs and deprives state and local communities of much-needed revenue, all while likely increasing emissions and the risks of climate change," the American Petroleum Institute said in a statement.
News
June 16, 2021
"The Department of the Interior is required by law to expeditiously develop America’s energy resources, and this includes the obligation to schedule and hold offshore oil and gas lease sales," said National Ocean Industries Association President Erik Milito.
