Pioneer CEO Scott Sheffield Calls for Private Oil Firms to ‘Rein In’ Flaring
Scott Sheffield, CEO of U.S. public shale firm Pioneer Natural Resources Co., on Feb....
Scott Sheffield, CEO of U.S. public shale firm Pioneer Natural Resources Co., on Feb. 17 said private oil and gas companies needed to be “reined in” for excessive methane flaring.
Sheffield said in an earnings call that methane flaring in the Permian Basin, the largest U.S. shale field, has fallen to less than 200 MMcf/d from a peak of 750 MMcf/d over the last two years.
Pioneer and many others, primarily other publics have driven flaring under 1% and aim eventually to lower it to 0.2%, while primarily private operators continue to vent and flare much greater than 1%, he said.
Facing Texas Pushback, BlackRock Says it Backs Fossil Fuels
At the risk of being dropped from Texas pension funds, BlackRock Inc. has ramped...
At the risk of being dropped from Texas pension funds, BlackRock Inc. has ramped up its message that the world's largest asset manager is a friend of the oil and gas industries.
As a large and long-term investor in fossil fuel companies, "we want to see these companies succeed and prosper," BlackRock executives wrote in a letter that a spokesman confirmed was sent at the start of the year to officials, trade groups and others in energy-rich Texas.
Labor shortages a major barrier to oil production growth
A shrinking oil and natural gas workforce in the Permian Basin, the engine of US oil production growth,...
A shrinking oil and natural gas workforce in the Permian Basin, the engine of US oil production growth, could make it difficult for operators to scale up activity and match the anticipated production growth for 2022 in the coming years, Evercore ISI warned. Endeavor Energy Resources, for example, has already turned to out-of-basin workers for 60% of its field activities, the advisory firm said.
US oil supplies post surprise rise in latest EIA data
US crude oil inventories jumped unexpectedly last week, by 1.1 million barrels, missing analysts' expectations...
US crude oil inventories jumped unexpectedly last week, by 1.1 million barrels, missing analysts' expectations for a 200,000-barrel decline, according to Energy Information Administration data. However, the gain was offset by a 1.3-million-barrel fall in gasoline supplies and a 1.6-million-barrel drop in distillate stockpiles.
Fears of a potential Russian invasion of Ukraine have prompted some US refiners to seek substitutes to...
Fears of a potential Russian invasion of Ukraine have prompted some US refiners to seek substitutes to Russian fuel oil, a common choice of feedstock in gasoline and diesel production, with Mexican and Brazilian oil emerging as the top alternatives. "Any restrictions on Russian flows would cause pain exclusively on the side of the buyer because the Russians can easily place their fuel oil in China or India," said Vortexa Chief Economist David Wech.
