By: Arunima Jumar – Reuters – U.S. oil refiner Phillips 66 on Monday set its 2021 capital budget at $1.7 billion, around...
By: Jude Clemente – Forbes – For the U.S. oil & gas industry, the struggle through Covid-19 might just be the “most unique...
By: Kevin Crowley and Sergio Chapa – Bloomberg – Texas’s main oil regulator has been prohibited from waiving environmental rules and fees,...
By: Janelle Stecklein – Pauls Valley Daily Democrat – The year 2020 has been the worst in recent memory for the state’s...
By: Thomas Lee – Argus Media – Private equity (PE) investors are accelerating a shift away from the US shale oil sector...
By: Adrienne Murray, Denmark – BBC – Denmark will end all new oil and gas exploration in the North Sea, as part...
By: Greg Avery – Denver Business Journal – FourPoint Energy is getting out of oil and gas operations in Oklahoma after a...
By: Reuters – Exxon Mobil on Monday said it would write down the value of natural gas properties by $17 billion to $20...
By: Jennifer Hiller & Scott DiSavino – Reuters – Higher natural gas futures prices for 2021 and a continued glut of crude...
By: Noah Browning and David Evans – Reuters – The COVID-19 pandemic this year has dented oil consumption and brought forward forecasts...
The energy sector is off to a mixed start, pressured by weakness in the crude complex but supported by strength in the major equity futures which bounced higher this morning following yesterday’s late-day selloff.
After three consecutive days of strong gains, WTI and Brent crude oil futures turned lower and were down over 1.5% in early trading. Reports showing higher inventories and record output in the United States weighed on prices and overshadowed lingering concerns over global trade disruptions in the Red Sea. In their latest inventory report, the EIA said that U.S. crude inventories rose by 2.9 million barrels last week, compared with analysts' expectations for a 2.3 million barrel draw and that U.S. crude output rose to a record 13.3 million bpd last week, up from the previous all-time high of 13.2 million bpd. Investors continue to worry about trade disruptions as major maritime carriers choose to steer clear of the Red Sea route, with longer voyages increasing transport and insurance costs.
Natural gas futures turned higher this morning following yesterday’s 1.8% drop, boosted by updated cooler weather forecasts in key consuming regions but gains were capped ahead of the weekly storage report. Analysts expect the EIA data to show a draw of (80) Bcf last week vs the 5-year average of (107) Bcf.
Since the 2015 end of the US' decades-long ban on most crude oil exports, the Texas city of Corpus Christi has flourished into the nation's oil export epicenter, handling more than half of the 4 million barrels per day of US crude exports in the first six months of 2023. Amid dreams of expansion, the city contends with the societal impacts of the energy industry's growth on certain neighborhoods and faces challenges, including an unsuccessful bid to host a federally funded hydrogen hub.
Mineral rights fragmentation is not a temporary crisis but an inherent, perpetual friction in...
Natural gas remains the leading source of electricity generation in the United States, but...
by Bloomberg, via RigZone.com | F.Kozok, S.Hacaoglu | Turkey plans to sign new energy deals with...
President Donald Trump used his address at the United Nations General Assembly this week...
West Texas holds a treasure trove of natural gas that could become a critical...
TotalEnergies has signed an agreement with Continental Resources to acquire a 49% interest in...
by Bloomberg [via RigZone.com] |Veena Ali-Khan, Mia Gindis| Oil notched its biggest weekly gain...
By DANIEL JONES, US CONSUMER EDITOR | Daily Mail | and REUTERS | Exxon Mobil...
By Claire Hao, Staff Writer| Houston Chronicle| Vistra plans to build two new natural gas...
By Mella McEwen,| Midland Reporter Telegram | John Sellers and Cody Campbell, co-chief executive officers...
AXP Energy has confirmed the presence of hydrocarbons in multiple pay zones at its...
OPEC+’s production hikes have been a tool to both punish countries that were overproducing...
Have your oil & gas questions answered by industry experts.