Greek shippers exit Russian oil trade as U.S. tightens price cap scrutiny November 23, 2023 Three major Greek shipping firms have stopped transporting Russian oil in recent weeks in order to avoid U.S. sanctions now being imposed on some shipping firms carrying Russian oil, four traders told Reuters and shipping…
Clean energy jobs growth worldwide surpasses fossil-fuel sector jobs which saw a decline
Clean energy jobs growth worldwide surpasses fossil-fuel sector jobs which saw a decline Energize Weekly, November 29, 2023 Clean energy employment is growing more rapidly than fossil-fuel jobs across the globe and accounted for the majority of the 67 million jobs in the energy sector in 2022, according to an…
PG&E bills to soar next year after regulators approve 13% rate increase Thursday
PG&E bills to soar next year after regulators approve 13% rate increase Thursday Nov 16, 2023 Monthly bills for Pacific Gas and Electric Co. customers will climb even higher next year after California regulators on Thursday unanimously approved allowing the utility giant to increase its rates for electricity and natural…
Global LNG market stable for this winter, but there will be more volatility down the road
Global LNG market stable for this winter, but there will be more volatility down the road Energize Weekly, November 22, 2023 Ample gas inventories in the U.S. and Europe and increased liquified natural gas (LNG) export and import capacity will likely meet global needs this winter, but growing demand over…
US plans to buy 1.2 million barrels of oil for Strategic Petroleum Reserve
US plans to buy 1.2 million barrels of oil for Strategic Petroleum Reserve November 13, 2023 The U.S. plans to buy 1.2 million barrels of oil to help replenish the Strategic Petroleum Reserve after it sold off the largest amount ever last year, the Energy Department said on Monday. The…
Fossil-fuel producing countries set to blow past climate targets for oil, natural gas, and coal
Fossil-fuel producing countries set to blow past climate targets for oil, natural gas, and coal Energize Weekly, November 15, 2023 Fossil-fuel producing countries are set to turn out double the amount of coal, oil, and natural gas between now and 2050 needed to keep the increase in global warming to…
Dominion plans large liquified natural gas facility in Person County near Rougemont
Dominion plans large liquified natural gas facility in Person County near Rougemont NOVEMBER 3, 2023 Dominion Energy, the main corporate actor behind the defunct Atlantic Coast Pipeline, plans to build the Moriah Energy Center, two 25-million-gallon liquified natural gas facilities on 485 acres in southeastern Person County, about two miles…
Lower fuel prices to lead to lower winter heating bills for homes using natural gas, propane
Lower fuel prices to lead to lower winter heating bills for homes using natural gas, propane Energize Weekly, November 1, 2023 Winter heating bills will be lower than last year for homes using natural gas and propane but will be up for those relying on heating oil, according to forecasts…
Mountain Valley pipeline delayed: 4 questions answered
Mountain Valley pipeline delayed: 4 questions answered 10/19/2023 Completion of the closely watched Mountain Valley pipeline will be delayed until next year, and its cost will exceed $7 billion, the project’s lead developer said Wednesday. The updates from Equitrans Midstream mark the latest twist in the saga of the controversial…
U.S. sets records for crude oil and natural gas exports in the first six months of 2023
U.S. sets records for crude oil and natural gas exports in the first six months of 2023 Energize Weekly, October 18, 2023 The U.S. set export records for both oil and natural gas in the first half of 2023, with Europe as the prime destination, according to the federal Energy…
Exxon’s blockbuster Pioneer merger needs Biden’s blessing
Exxon’s blockbuster Pioneer merger needs Biden’s blessing Oct 8, 2023 Exxon Mobil Corp. needs approval from the Biden administration before it can take over independent oil and gas producer Pioneer Natural Resources Co. in what would be the world’s biggest deal this year. That might not be such an easy…
Favorable economics, the need for new reserves boost global oil exploration investments
Favorable economics, the need for new reserves boost global oil exploration investments Energize Weekly, October 3, 2023 Global oil and gas exploration and production investments are set for a big rebound, according to energy analysts Wood Mackenzie and Rystad Energy. While not reaching the levels of the 2006-to-2014 boom years,…
Appeals Court Blocks Biden Bid to Limit Oil Drilling Auction
Appeals Court Blocks Biden Bid to Limit Oil Drilling Auction September 25, 2023 A federal court left in place an order forcing the Biden administration to expand an upcoming sale of offshore drilling rights in the Gulf of Mexico, while giving the government more time to hold the auction. The…
US natgas futures steady on healthy demand, lower supply
US natgas futures steady on healthy demand, lower supply Sept 25 U.S. natural gas futures steadied on Monday and consolidated gains from the previous session, buoyed by healthy demand and slightly lower output projections, even as the market transitions into the shoulder period for gas demand. Demand for power usually…
Increased U.S. natural gas production in 2023 is boosting LNG and ethane exports
Increased U.S. natural gas production in 2023 is boosting LNG and ethane exports Energize Weekly, September 20, 2023 Record U.S. natural gas production in 2023 is leading to a record ethane production and liquified natural gas (LNG) exports, according to the federal Energy Information Administration (EIA). The EIA is forecasting…
Legal assault awaits Biden’s Alaska lease cancellation
Legal assault awaits Biden’s Alaska lease cancellation 09/11/2023 An Alaska corporation is already teeing up a legal battle over the Biden administration’s decision to cancel contested oil and gas leases in a massive wildlife refuge. The Interior Department announced plans last week to revoke seven leases held by the Alaska…
California regulators OK gas storage expansion despite risks
California regulators OK gas storage expansion despite risks SEP 5, 2023 California regulators have approved a proposal to vastly increase natural gas storage at the site of the nation’s largest known methane leak, which sickened thousands of families and forced them from their Los Angeles homes in 2015. Despite opposition…
PHMSA Announces Proposed Rulemaking Affecting Natural Gas Distribution Systems
PHMSA Announces Proposed Rulemaking Affecting Natural Gas Distribution Systems August 28, 2023 On Aug. 24, 2023, the U.S. Department of Transportation (DOT) Pipeline and Hazardous Materials Safety Administration (PHMSA) announced the forthcoming publication of a notice of proposed rulemaking intended to improve safety on gas distribution pipelines nationwide by improving…
Global oil and gas exploration spending is up at $50 billion in 2023 but reserves are down
Global oil and gas exploration spending is up at $50 billion in 2023 but reserves are down Energize Weekly, August 30, 2023 Conventional oil and gas exploration is on the upswing and spending is expected to reach $50 billion in 2023 – the highest in five years – but discovered…
Prairie Reports $2.4B Possible Reserves in Colorado
Prairie Reports $2.4B Possible Reserves in Colorado August 22, 2023 Prairie Operating Co. has reported a possible reserves basis of approximately 285.3 million barrels of oil equivalent (MMboe) at its non-producing position in Weld County, Colorado, citing an independent third-party evaluation. “The reserve report reflects the quality and scale of…
Inflation Reduction Act could unleash $3 trillion in renewable energy investments
Inflation Reduction Act could unleash $3 trillion in renewable energy investments Energize Weekly, August 23, 2023 The $1.2 trillion in incentives proposed under the U.S. Inflation Reduction Act (IRA) will spur about $3 trillion investment in renewable energy technology over the next decade, according to Goldman Sachs Research. Goldman Sachs…
Chesapeake to complete Eagle Ford basin exit with SilverBow deal
Chesapeake to complete Eagle Ford basin exit with SilverBow deal August 14, 2023 U.S. natural gas producer Chesapeake Energy (CHK.O) said on Monday it would sell its remaining Eagle Ford assets to SilverBow Resources (SBOW.N) for $700 million, completing its exit from the south Texas basin. The company’s asset sales…
A surge in carbon capture and storage projects brings promise, mergers and challenges
A surge in carbon capture and storage projects brings promise, mergers and challenges Energize Weekly, August 16, 2023 Initiatives in the carbon capture market are surging with new projects, acquisitions, and a swell in government funding, but the sector could face challenges in permitting, capital costs and adequate subsidies, according…
North America Drops Multiple Rigs
North America Drops Multiple Rigs August 07, 2023 North America has gone back to losing rigs week on week, according to Baker Hughes’ latest rotary rig count, which was released on August 4. The region dropped 10 rigs week on week, taking its total count to 847, comprising 659 U.S.…
Strategists Project 9.3MM Barrel USA Crude Inventory Drop
Strategists Project 9.3MM Barrel USA Crude Inventory Drop August 01, 2023 Macquarie strategists projected that U.S. crude inventories will be down 9.3 million barrels for the week ending July 28 in a new report sent to Rigzone on Monday. “This follows a 0.6 million barrel draw for the week ending…
Global temperatures are rising in 2023 and so is worldwide consumption of coal and oil
Global temperatures are rising in 2023 and so is worldwide consumption of coal and oil Energize Weekly, August 2, 2023 As the world sizzles, with July the hottest month on Earth since records have been kept, consumption of coal and oil – the two main sources of climate-warming greenhouse gases…
US to Spend $700 Million for Oil and Gas Sector to Cut Methane Emissions
US to Spend $700 Million for Oil and Gas Sector to Cut Methane Emissions 7/24/2023 The U.S. government will provide up to $700 million in funding to monitor and reduce methane emissions from the oil and gas sector, setting aside half of the amount for grants to states, two agencies…
US shale oil/natgas output set to fall for first time since December – EIA
US shale oil/natgas output set to fall for first time since December – EIA July 17, 2023 U.S. shale oil and natural gas production will fall in August for the first time since December, the U.S. Energy Information Administration (EIA) said in its monthly Drilling Productivity Report on Monday. Crude…
U.S. energy sector employment rebounds after pandemic led by the oil and gas sector
U.S. energy sector employment rebounds after pandemic led by the oil and gas sector Energize Weekly, July 19, 2023 Energy sector jobs in the U.S. rebounded from the pandemic by 2022, outpacing national job growth. While clean energy jobs grew fastest overall, the lion’s share of new jobs was in…
Biden administration announces $650 million to plug orphaned gas and oil wells
Biden administration announces $650 million to plug orphaned gas and oil wells 07/10/23 The Interior Department announced Monday more than $650 million in Bipartisan Infrastructure Law funding to plug abandoned oil and gas wells. The $660 million in funding, available to 27 states, will go toward the plugging of so-called…
North America Sees Rig Loss Regression
North America Sees Rig Loss Regression July 03, 2023 North America went back to losing rigs week on week, Baker Hughes’ latest rotary rig count, which was released on June 30, revealed. According to the count, North America dropped 10 rigs week on week, with the U.S. losing eight week…
Suncor Energy cyberattack likely to cost company millions of dollars, expert says
Suncor Energy cyberattack likely to cost company millions of dollars, expert says Jun 26, 2023 A cybersecurity expert says a systems breach at Suncor Energy Inc. will likely cost the company millions of dollars before the issue is resolved. The cyberattack affected many of Suncor’s Petro-Canada sites across the country…
Global oil and gas investment rises even as demand slows risking overcapacity in the sector
Global oil and gas investment rises even as demand slows risking overcapacity in the sector Energize Weekly, June 21, 2023 Global demand for oil is set to slow in the next five years even as investment in oil industry infrastructure is projected to grow, risking an overcapacity in production, according…
More US natural gas producers join lower-emission gas trading hub
More US natural gas producers join lower-emission gas trading hub 13 June 2023 Two US natural gas producers have joined certified natural gas trading platform CG Hub, adding 1 billion cubic feet per day of liquidity through the service. Seneca Resources and Northeast Natural Energy joined the first commodities trading…
Supreme Court rejects challenge to California offshore fracking ban
Supreme Court rejects challenge to California offshore fracking ban June 5, 2023 The U.S. Supreme Court on Monday refused to hear a challenge brought by the oil industry to court orders that ban fracking in federal waters off the California coast, in a setback to oil companies who argued the…
U.S. oil and gas auction brings nearly $80 million to federal coffers
U.S. oil and gas auction brings nearly $80 million to federal coffers 25/05/2023 The United States on Thursday carried out its first sale of oil and gas drilling rights on federal lands since President Joe Biden’s landmark climate change law was passed, attracting more than 78 million dollars in high…
Supermajors are scrubbing their greenhouse gas emissions by offloading dirtier assets
Supermajors are scrubbing their greenhouse gas emissions by offloading dirtier assets Energize Weekly, May 31, 2023 Seven of the world’s “supermajor” oil companies are cleaning up their greenhouse gas emissions in large part by offloading some of the dirtiest assets to small companies who are often poor environmental performers, according…
Chevron’s $7.6B purchase of PDC Energy creates the biggest oil and gas company in Colorado
Chevron’s $7.6B purchase of PDC Energy creates the biggest oil and gas company in Colorado May 23, 2023 Chevron Corp. is buying PDC Energy in a $7.6 billion deal that will make it by far and away the largest oil and gas producer in Colorado and continues a trend in…
Winter rains lift California hydropower outlook, easing regional demand for natural gas
Winter rains lift California hydropower outlook, easing regional demand for natural gas Energize Weekly, May 17, 2023 Heavy rains have filled California reservoirs and boosted the prospect for hydropower – welcomed news to the rest of the West, which saw natural gas prices soar last winter as California utilities scrambled…
Republicans ask watchdog to assess US oil reserve management
Republicans ask watchdog to assess US oil reserve management May 08, 2023 Two Republicans on Monday asked a congressional watchdog to assess the Biden administration’s management of the Strategic Petroleum Reserve and audit its modernization program, saying sales from the SPR have undermined U.S. energy security. Senator John Barrasso, ranking…
Oil and gas M&A deals down 50 percent to $14.8 billion quarter-over-quarter in Q1 2023
Oil and gas M&A deals down 50 percent to $14.8 billion quarter-over-quarter in Q1 2023 Energize Weekly, May 10, 2023 Oil and gas industry mergers and acquisitions (M&A) flagged in the first quarter of 2023 with a 35 percent drop in deals to 74 and the value halved to $14.8…
Standard Chartered Dubs Latest USA EIA Data Highly Bullish
Standard Chartered Dubs Latest USA EIA Data Highly Bullish May 02, 2023 In a new report sent to Rigzone on April 28, analysts at Standard Chartered said the latest Energy Information Administration (EIA) weekly data was “highly bullish” according to the company’s U.S. oil data bull-bear index, which they said…
Pa.’s natural gas production curbed by capacity limits
Pa.’s natural gas production curbed by capacity limits APR 25, 2023 Pennsylvania natural gas production fell by two percentage points in 2022 as pipelines run at full capacity and future development slows. Although the state maintains its number two status nationwide — just behind Texas — industry advocates say politics…
California Republicans blast fixed-rate power bill proposal as ‘crazy’
California Republicans blast fixed-rate power bill proposal as ‘crazy’ Apr 24, 2023 California Republicans are asking state regulators to reject a proposal by California’s three largest power companies to create a fixed rate for services based on household income. “The ‘fixed-charge’ proposal is nothing but a shameful attempt to exploit…
Tennessee raises felony charge for ‘interfering’ with oil and gas pipeline projects
Tennessee raises felony charge for ‘interfering’ with oil and gas pipeline projects APRIL 16, 2023 In the past four years, Tennessee has passed multiple laws aimed to protect fossil fuel projects from community challenges, like the law that preempts local governments from blocking fossil fuel projects, or the one that…
Dominion Energy Utah starts hydrogen blending in Utah pipelines
Dominion Energy Utah starts hydrogen blending in Utah pipelines Apr 04, 2023 Dominion Energy Utah (DEU) has begun hydrogen blending in Delta, Utah, pipelines as part of the ThermH2 project. The project gas entered its first phase which is focused on blending hydrogen in the utility’s Training Academy to confirm…
North America Drops 38 Rigs
North America Drops 38 Rigs March 28, 2023 North America dropped another 38 rigs week on week, according to Baker Hughes’ latest rotary rig count, which was released on March 24. The count showed that Canada decreased its rig figures by 42 week on week, while the U.S. added four…
White House threatens veto for Republican energy package
White House threatens veto for Republican energy package 03/27/23 The White House on Monday threatened a veto of a House Republicans’ energy package, known as H.R. 1, if it makes it to President Biden’s desk. “H.R. 1 would take us backward. Therefore, if presented to the President in its current…
Embargoes and price caps send Russian oil searching for new markets in Asia and Africa
Embargoes and price caps send Russian oil searching for new markets in Asia and Africa Energize Weekly, March 22, 2023 Embargoes and price caps on Russian oil and petroleum products are taking a bite out of the country’s exports and revenues, which are down 42 percent year-over-year to $11.6 billion…
Biden Budget Proposes Elimination of Oil, Gas Tax Subsidies
Biden Budget Proposes Elimination of Oil, Gas Tax Subsidies March 14, 2023 U.S. President Joe Biden’s 2024 budget proposes to eliminate tax subsidies for oil and gas, a White House fact sheet has revealed. “The president is committed to ending tens of billions of dollars of federal tax subsidies for…
