Gas and oil prices are heading in the right direction, finally. But the reasons why might be no cause for celebration. Story...
By: Reuters – Oil prices edged higher on Monday in a volatile session as investors waited for any moves against Russian oil...
FROM BUSINESS INSIDER – Analysts at Bank of America laid out three scenarios for the outlook on Brent crude oil prices. The...
The S&P 500 Energy Sector is the only sector on the broad-market index sporting gains so far in 2022, but a slide...
By: Shelby Webb – Houston Chronicle – Texas’ efforts to have more electricity in reserve on the power grid could cost ratepayers...
Oil and gas production in Texas rose month on month, according to the latest preliminary figures from the Texas Railroad Commission (RRC)....
By: David French – Reuters – Double Eagle, a team of prolific oil and gas developers focused on the Permian basin, have...
By Matthew Smith for Oilprice.com – The U.S., UK, and European Union’s ban on Russian oil imports sparked by President Vladimir Putin’s invasion of...
By: Erica Grieder – Houston Chronicle – Once upon a time, Houston was a city that “loved not wisely, but too well,”...
(REUTERS)–Percussion Petroleum II is looking to fetch up to $1.5 billion by selling around 25,000 net acres in the Permian shale basin,...
US liquefied natural gas export capacity is poised to increase by more than 58.4 million short tons by the end of 2025, with projects including Venture Global's Plaquemines LNG, Cheniere's Corpus Christi LNG expansion and ExxonMobil's Golden Pass LNG due to enter the commissioning phase this year.
"The ramp-up of North American supply at the end of 2024 and through 2025 will allow for Europe to further reduce its reliance on Russian gas, while at the same time supporting demand growth across Asia," said S&P Global Director of LNG Analytics Ross Wyeno.
A series of powerful earthquakes that hit western Japan has left at least 55 people dead and damaged thousands of buildings, vehicles, and boats. Officials warned Tuesday that more quakes could lie ahead.
Aftershocks continued to shake Ishikawa prefecture and nearby areas a day after a magnitude 7.6 temblor slammed the area.
Damage was so great that it could not immediately be assessed. Japanese media reports said tens of thousands of homes were destroyed.
Water, power, and cell phone service were still down in some areas. Residents expressed sorrow about their uncertain futures.
“It’s not just that it’s a mess. The wall has collapsed, and you can see through to the next room. I don’t think we can live here anymore,” Miki Kobayashi, an Ishikawa resident, said as she swept around her house.
Israel’s high court overturns controversial judicial overhaul. In an 8–7 vote, Israel’s Supreme Court struck down a law barring judges from reviewing government actions they consider unreasonable. The law, which was part of a broader effort to remake the judicial branch, was championed by Prime Minister Benjamin Netanyahu and drew mass protests before the nation’s war with Hamas began. The ruling could reignite Israel’s domestic political disagreements. Separately, Israel began moving thousands of troops out of parts of the Gaza Strip, which could signal it expects less intense fighting, especially in northern parts of the territory.
Tensions are rising in the Red Sea. The US Navy sank three boats piloted by Houthi militants in the Red Sea, killing their crews, while responding to a distress call from a Maersk ship on Sunday. And yesterday, Iran sent a warship to the Red Sea. The Houthis, who are based in Yemen but backed by Iran, began attacking commercial ships traveling through the Red Sea in November in response to the Israel–Hamas war. Several major shipping groups started taking longer routes around Africa to avoid the area, through which ~12% of global commerce usually flows, but the US has vowed to secure the trade route.
ICYMI…If, like us, you tuned out the news last week while scrambling to buy last-minute gifts, here are some developments you might have missed: 1) The New York Times sued OpenAI and Microsoft, alleging ChatGPT caused billions of dollars in damages by breaching its copyrights. The suit claims the chatbot has reproduced NYT articles nearly verbatim without permission. 2) In other AI legal news, Donald Trump’s former lawyer Michael Cohen admitted he unwittingly sent his own attorney fake cases invented by Google’s Bard chatbot to submit to the court in an effort to end his post-prison supervision. 3) Apple can still sell its latest Apple Watches in the US despite a trade court ruling that they infringe on another company’s patent because an appeals court put that ruling on hold—for now.
Crude oil stocks finished 2023 down 10% for the year, the lowest year-end levels since 2020. Geopolitical turmoil and worries about the oil production levels were the primary causes.
The Saskatchewan government says its natural gas utility is to stop collecting the carbon levy as of Monday from residential customers.
The move comes after Prime Minister Justin Trudeau exempted those who use home heating oil from paying the levy, mostly benefiting residents in Atlantic Canada.
Saskatchewan asked for the exemption to cover all other forms of heating, but Ottawa denied the request. In response, the province said it would stop collecting the charge at the start of 2024.
Dustin Duncan, the minister responsible for SaskEnergy, said the due date to pay the levy to the federal government is the last day of February.
Should SaskEnergy not remit those dollars, it would be breaking federal law and executives could face fines or jail time.
Saskatchewan passed legislation that aims to shield executives from legal consequences, putting that burden on the province.
Bill Armstrong isn’t following the industry playbook. As U.S. shale producers consolidate and shrink...
Haynesville Gas Takeaway Grows With Leg Pipeline Launch (P&GJ) — Williams Companies has placed its...
Yuka Obayashi and Katya Golubkova | TOKYO (Reuters) -U.S. President Donald Trump said on...
Merger and acquisition activity in the U.S. upstream oil and gas sector slowed significantly...
by Andreas Exarheas| RIGZONE.COM | Chevron will “consolidate or eliminate some positions” as part of...
The U.S. oil and gas industry is riding a line between productivity and paralysis....
The newly unveiled U.S.–EU energy framework, announced during the July 27–28 summit in Brussels,...
By Haley Zaremba for Oilprice.com | The United States electric vehicle industry is facing...
Trying to catch up in oil and gas production is difficult enough. It becomes...
Presidio Petroleum is preparing to enter the public markets through a strategic merger with...
(Reuters) – U.S. gasoline demand in May fell to the lowest for that month...
by Bloomberg, via RigZone.com|Weilun Soon, Rakesh Sharma, Reporting| At least four tankers discharged millions...
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