Permian growth in 2024 expected to drop significantly
Growth in the Permian Basin is expected to slow in 2024 following the purchase by public companies of...
Growth in the Permian Basin is expected to slow in 2024 following the purchase by public companies of nearly 40 private companies last year. The Energy Department recently dropped its 2024 growth forecast by 120,000 bpd to 170,000 bpd, down from over 1 million bpd last year. "It all ties down to the industry being less interested in growth and more in generating positive cash flows, which they have now done successfully for a few years," said Alexandre Ramos-Peon, head of shale research at Rystad.
Shell has joined a project off the coast of Scotland that aims to harness the energy of ocean waves and...
Shell has joined a project off the coast of Scotland that aims to harness the energy of ocean waves and use the output to power underwater devices. The project, run by Renewables for Subsea Power, offers a "cost-effective alternative to umbilical cables, which are carbon intensive with long lead times to procure and install," the company says.
EIA predicts slower US oil, gas production growth in 2024
The Energy Information Administration expects US crude oil production...
The Energy Information Administration expects US crude oil production to grow by 170,000 barrels per day to 13.21 million bpd in 2024, reflecting a decrease from its previous growth forecast of 290,000 bpd. The agency also cut its first-quarter US natural gas marketed production forecast by 1.71 Bcf/d to 113.08 Bcf/d and reduced its 2024 production forecast by 740 MMcf/d to 114.03 Bcf/d.
Gates-backed startup to open carbon removal site in Ark.
Graphyte a startup backed by Bill Gates' Breakthrough Energy Ventures,...
Graphyte a startup backed by Bill Gates' Breakthrough Energy Ventures, is preparing to open one of the world's largest carbon removal projects this week. The Arkansas-based facility will use wood waste, such as sawdust, laden with carbon to create biomass bricks that will be stored underground and can remove tens of thousands of metric tons of carbon dioxide from the environment.
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The Supreme Court will hear arguments today over whether Donald Trump should be barred from ballots because of the Jan. 6, 2021, attack on the Capitol. In other election news, Nikki Haley vowed to keep fighting even though she came in a distant second to “none of these candidates” in Tuesday’s Nevada primary, which Trump didn’t participate in.
A US drone strike in Iraq killed the leader of an Iran-backed militant group believed to be behind attacks on US troops.
Tesla sold only one car in South Korea in January, giving it its worst month in the country since July 2022, when it sold zero.
Coca-Cola has released its first permanent new flavor in three years, Spiced, which…mostly tastes like raspberry.
