By: Kevin Crowley – Bloomberg – President Joe Biden’s plan to eliminate subsidies claimed by oil and gas companies and raise levies...
By: Bloomberg – The U.S. government program for selling drilling rights on federal land is so “fundamentally broken” that changes could be...
The US tight oil industry was hit particularly hard in 2020, a year that was one of the most disruptive for global...
By: CNBC – The oil and gas industry’s largest trade group Thursday endorsed a price on planet-warming carbon emissions, marking a major...
By: Greg Roumeliotis – Reuters – Pioneer Natural Resources Co is nearing a deal to acquire oil producer DoublePoint Energy for more...
By: S&P Global Platts – President Joe Biden’s $2 trillion infrastructure and energy plan would dramatically reshape the nation’s energy landscape by...
By: Scott Carpenter – Forbes – Gone are the days when shale oil and gas companies could persuade investors to write checks...
By: Scott Carpenter – Forbes – In March 2016 Vicki Hollub, who had just become the CEO of major oil firm Occidental...
By: Susan Montoya Bryan – AP – New Mexico oil and gas regulators on Thursday adopted new rules to limit most venting...
By: Emma Newburger – CNBC – Fourteen states filed suit on Wednesday against President Joe Biden’s moratorium on new oil and natural gas leases on...
US Steel is turning Japanese in a $14.1 billion deal. US Steel, once the world’s largest company and a symbol of US manufacturing might that counts J.P. Morgan and Andrew Carnegie among its founders, has agreed to be bought by Japan’s Nippon Steel. The deal ends months of speculation over the 122-year-old steel company’s fate after it rebuffed a $7.3 billion offer from domestic rival Cleveland-Cliffs over the summer. Assuming regulators and US Steel’s shareholders sign off on the purchase, it would make Nippon the second-biggest steel company globally and give it a major presence in the US market, which uses a lot of steel, especially to make cars.
Nikola's founder gets four years for fraud. Trevor Milton was sentenced to four years in prison yesterday after having been found guilty of defrauding investors in the electric vehicle company he founded. While that’s less than the Elizabeth Holmes-level, 11-year sentence prosecutors had pushed for, it’s more than the probation he requested. Nikola was briefly the third-most-valuable vehicle company in the US, but its value plunged when a short seller accused the company of lying about its tech. Prosecutors agreed and claimed Milton fibbed about the company’s progress, including in an infamous video that purported to show one of its trucks operational and moving when it was really just rolled down a hill.
A volcano erupted on Iceland’s Reykjanes Peninsula yesterday near a town that was evacuated last month after a series of earthquakes signaled an eruption was coming. The government said the volcanic activity was the most powerful the area had seen since a major disaster in the 1970s.
The Energy Information Administration expects US oil production from major US shale formations to decline for the third month in a row to 9.692 million barrels per day in January, even as Permian Basin output is projected to hit a record 5.986 million bpd.
Additionally, shale gas production is set to fall to 99 Bcf/d in January, which would mark the fifth straight month of declines
(Monday market close) Bullish investors picked up where they left off last week, sending the Dow Jones Industrial Average® (DJI) to a fourth consecutive record high close as the market extended a holiday-season rally behind ongoing optimism that 2024 will bring lower interest rates and a potential "soft landing" for the economy.
The S&P 500® index (SPX), coming off a seven-week winning streak (its longest string since 2017), ended near a two-year high, as did the Nasdaq Composite® (COMP). Markets remained generally buoyant following last week's relatively tame inflation readings and a more aggressive outlook for rate cuts from the Fed. Here's where the major benchmarks ended:
The S&P 500 index was up 21.37 points (0.5%) at 4,740.56; the Dow Jones Industrial Average was up 0.86 points at 37,306.02; the Nasdaq Composite was up 90.89 points (0.6%) at 14,904.81.
The 10-year Treasury note yield (TNX) was up about 2 basis points at 3.946%.
The Cboe® Volatility Index (VIX) was up 0.25 at 12.53.
Benchmark U.S. crude oil for January delivery rose $1.04 to $72.47 per barrel Monday. Brent crude for February delivery rose $1.40 to $77.95 per barrel.
Wholesale gasoline for January delivery rose 2 cents to $2.16 a gallon. January heating oil rose 5 cents to $2.67 a gallon. January natural gas rose 1 cent to $2.50 per 1,000 cubic feet.
After a long slump, Oklahoma’s natural gas sector is once again showing signs of...
President Donald Trump’s latest legislative push, known as the “One Big Beautiful Bill,” marks...
WASHINGTON (Reuters) – American companies unveiled a series of significant AI and energy investment...
Oklahoma’s largest oil and gas operators are lining up to claim a new $50...
By Felicity Bradstock for Oilprice.com| Many countries need to invest heavily in upgrading their...
By Charles Kennedy for Oilprice.com | Shell and other major energy players have withdrawn...
Baker Hughes, Hunt Energy, and Argent LNG are forming a partnership to create a...
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 Felicity Bradstock for Oilprice.com | The United Nations Development Programme (UNDP) and the...
The U.S. oil and gas industry is riding a line between productivity and paralysis....
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