Judge rules Willow project construction can proceed
Opponents of ConocoPhillips' Willow oil development on Alaska's North Slope endured a legal setback...
Opponents of ConocoPhillips' Willow oil development on Alaska's North Slope endured a legal setback after US District Court Judge Sharon Gleason denied their requests to stop construction work on the project. The ruling allows ConocoPhillips to proceed with cold-weather construction activities, including mining gravel for a road to the project, but environmental groups say they will continue legal efforts to overturn the project's approval.
Freeport LNG's return drives US LNG exports to a record
US liquefied natural gas exports reached a record 8.52 million short tons in March, as Freeport LNG,...
US liquefied natural gas exports reached a record 8.52 million short tons in March, as Freeport LNG, the No. 2 US LNG exporter, resumed operations after an eight-month outage caused by a fire, data from Refinitiv Eikon show. Europe remained the main destination for US LNG, accounting for 71% of the 108 total cargoes, while Asia and Latin America and the Caribbean took up 17% and 4.5% of shipments, respectively.
Dow, S&P 500 clinch 4-day win streak, energy stocks jump on oil production cuts
The Dow and S&P 500 both closed higher on Monday to kick off April with a 4th straight session...
The Dow and S&P 500 both closed higher on Monday to kick off April with a 4th straight session of gains, after a group of major global oil nations on Sunday announced surprise production cuts. The Dow Jones Industrial Average DJIA, +0.98% climbed about 326 points, or 1% on Monday, to end near 33,600, according to preliminary FactSet data. The S&P 500 index SPX, +0.37% gained 0.4%, while its energy component outperformed with a 4.9% climb. The Nasdaq Composite Index COMP, -0.27% shed 0.3%. Investors piled into energy stocks after the Organization of the Petroleum Exporting Countries and its allies said Sunday they would in May cut production by more than 1 million barrels a day in an effort to support oil-market stability, including with Saudi Arabia slashing its output by 500,000 barrels a day. May WTI oil future contract CLK23, +6.30% climbed more than 6% to trade above $80 a barrel, the biggest daily gain in more than a year. The Energy Select Sector SPDR FundXLE, +4.53% rose 4.6%.
Haynesville producers balance risk and reward amid volatility
Haynesville Shale natural gas producers are facing the challenge of balancing short-term and long-term...
Haynesville Shale natural gas producers are facing the challenge of balancing short-term and long-term plans in the face of volatile gas and oilfield services markets. While some drillers are idling rigs, delaying well completions and even curbing production, others are applying strategic hedging tactics to sustain growth and navigate the volatility.
EIA: Texas, N.D. lead US oil production growth in Jan.
The Energy Information Administration has reported that US crude oil production reached 12.46 million...
The Energy Information Administration has reported that US crude oil production reached 12.46 million barrels per day in January, a level not seen since March 2020, with Texas and North Dakota leading the increase. Meanwhile, gross natural gas production in the contiguous US rose to 112.3 Bcf/d, the highest since November, fueled by gains in Pennsylvania and Texas.
