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…

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Supermajors are scrubbing their greenhouse gas emissions by offloading dirtier assets

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…

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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…

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Winter rains lift California hydropower outlook, easing regional demand for natural gas

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…

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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

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…

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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…

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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…

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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…

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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…

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Hydrogen is supplementing natural gas, but critics remain wary

Hydrogen is supplementing natural gas, but critics remain wary FEB 6, 2023 A public utility is experimenting with blending small amounts of carbon-free hydrogen into natural gas lines in some Minnesota homes, but critics argue the procedure remains largely an exercise in hot air. As first reported last week by…

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Number of oil and gas mergers and acquisitions hits a 17-year low in Q4 of 2022

Number of oil and gas mergers and acquisitions hits a 17-year low in Q4 of 2022

Number of oil and gas mergers and acquisitions hits a 17-year low in Q4 of 2022 Energize Weekly, February 1, 2023 The volume of oil and gas sector mergers and acquisitions fell to a 17-year low in the last quarter of 2022 as deal value for the quarter declined 13…

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Biden administration threatens veto of GOP bill restricting strategic oil reserve releases

Biden administration threatens veto of GOP bill restricting strategic oil reserve releases Jan 23, 2023 The Biden administration is threatening to veto Republican-led legislation that would restrict the release of oil from the country’s emergency reserve. “If Congress were to pass H.R. 21, the president would veto it. He will…

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US House passes bill to ban US strategic oil reserve sales to China; Senate path unclear

US House passes bill to ban US strategic oil reserve sales to China; Senate path unclear 12 Jan 2023 The US House of Representatives advanced legislation Jan. 12 aimed at preventing crude oil from the US Strategic Petroleum Reserve from ending up in China, sending the measure to the Senate…

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Winter Storm Elliott stressed regional electric grids across the U.S. in different ways

Winter Storm Elliott stressed regional electric grids across the U.S. in different ways

Winter Storm Elliott stressed regional electric grids across the U.S. in different ways Energize Weekly, January 18, 2023 Winter Storm Elliott, the bomb cyclone with freezing temperatures and blizzard conditions that swept across the U.S. east of the Rockies, sparked a wave of outages with its impacts varying from regional…

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Why natural gas prices — and bills — are soaring in Southern California

Why natural gas prices — and bills — are soaring in Southern California JAN. 9, 2023 Southern California Gas Co. and San Diego Gas & Electric have issued stark warnings to customers that their January natural gas bills could double, citing factors for historically high wholesale costs that include sinking…

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Colorado co-ops say Xcel Energy mismanaged natural gas supplies during 2021 storm

Colorado co-ops say Xcel Energy mismanaged natural gas supplies during 2021 storm

Colorado co-ops say Xcel Energy mismanaged natural gas supplies during 2021 storm Energize Weekly, January 11, 2023 The fallout from the soaring natural gas prices created by Winter Storm Uri in 2021 continues as four rural Colorado electric cooperatives have filed a complaint with federal regulators saying they were overcharged…

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To replace Russian gas, Europe builds more LNG capacity and boosts U.S. imports

To replace Russian gas, Europe builds more LNG capacity and boosts U.S. imports

To replace Russian gas, Europe builds more LNG capacity and boosts U.S. imports Energize Weekly, January 4, 2023 In the dash to replace Russian natural gas supplies, liquefied natural gas (LNG) import capacity in the European Union (EU) and the United Kingdom (UK) is set to expand by a third…

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Energy efficiency investments jump in 2022 spurred by energy security concerns

Energy efficiency investments jump in 2022 spurred by energy security concerns

Energy efficiency investments jump in 2022 spurred by energy security concerns Energize Weekly, December 28, 2022 Global investment in energy efficiency – from building renovations to public transport to electric vehicle infrastructure – increased 16 percent in 2022, reaching $560 billion as efficiency gains grew fourfold, according to the International…

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US to Become Net Exporter of Crude Oil in 2023

US to Become Net Exporter of Crude Oil in 2023 19 December 2022 The United States has become a global crude oil exporting power over the last few years, but exports have not exceeded its imports since World War II. That could change next year. Sales of U.S. crude to…

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High gas prices, energy security concerns make capturing fugitive and flared gas profitable

High gas prices, energy security concerns make capturing fugitive and flared gas profitable

High gas prices, energy security concerns make capturing fugitive and flared gas profitable Energize Weekly, December 21, 2022 The combination of higher natural gas prices and geopolitical concerns about energy security is making the capture and commercialization of fugitive and flared emissions economically viable around the world, according to a…

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Keystone pipeline has now leaked more oil in the US than any other since 2010: report

Keystone pipeline has now leaked more oil in the US than any other since 2010: report 12/12/22 On the heels of another spill last week, the massive Keystone pipeline has now leaked more oil than any other pipeline since 2010, according to a new report from Bloomberg. With more than…

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US FERC to act on backstop transmission siting, long-running gas pipeline disputes

US FERC to act on backstop transmission siting, long-running gas pipeline disputes 12 Dec 2022 The US Federal Energy Regulatory Commission is poised to act on transmission siting, key pipeline rate disputes, and two important natural gas pipeline certificates at its last meeting of the year Dec. 15, potentially Democrat…

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Deepwater oil and gas production set to grow 60 percent by 2030 hitting 17 million BOE/D

Deepwater oil and gas production set to grow 60 percent by 2030 hitting 17 million BOE/D

Deepwater oil and gas production set to grow 60 percent by 2030 hitting 17 million BOE/D Energize Weekly, December 7, 2022 Deepwater oil and gas production is set to increase more than 60 percent between 2022 and 2030, reaching 17 million barrels oil equivalent per day (BOE/D) – equal to…

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Interior Department finalizes plans for sale of oil and gas leases off coast of Alaska

Interior Department finalizes plans for sale of oil and gas leases off coast of Alaska November 28, 2022 The Interior Department announced final steps to carry out an oil and gas lease sale off Alaska’s coast, just the second such offshore lease sale of President Joe Biden ‘s tenure. The…

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US offshore oil and gas rigs at ‘significant’ risk of cyberattacks, warns government watchdog

US offshore oil and gas rigs at ‘significant’ risk of cyberattacks, warns government watchdog November 22, 2022 U.S. offshore oil and gas infrastructure faces “significant and increasing” cybersecurity risks that require “urgent” attention, a U.S. government’s watchdog has warned. The Government Accountability Office said in a new report that the…

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Equinor Leads the Way in Adoption of Low-emission Offshore Drilling Rigs, Westwood Says

Equinor Leads the Way in Adoption of Low-emission Offshore Drilling Rigs, Westwood Says November 15, 2022 The availability of emission-lowering upgrades for offshore rigs has been on the rise, but adoption of these new technologies is slow outside of Norway and the US Gulf of Mexico due to limited regulatory…

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Big Utilities See Inflation Reduction Act Helping Reduce Customers’ Energy Bills

Big Utilities See Inflation Reduction Act Helping Reduce Customers’ Energy Bills November 14, 2022 Utility giants planning to spend billions of dollars to move away from fossil fuels see the Inflation Reduction Act helping to reduce the cost of that transition as its customers grapple with high energy bills. Executives…

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Spurred by high commodity prices, energy production revenues on federal lands surge

Spurred by high commodity prices, energy production revenues on federal lands surge

Spurred by high commodity prices, energy production revenues on federal lands surge Energize Weekly, November 16, 2022 Energy production on federal lands and offshore areas in 2022 generated $22 billion for the federal and state governments – the highest in revenues since 2008 and second highest in 39 years, according…

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ConocoPhillips records big profits, expects to start work at $8 billion Alaska oil project early next year

ConocoPhillips records big profits, expects to start work at $8 billion Alaska oil project early next year 11/7/22 ConocoPhillips reported making huge profits in the latest quarter amid growing criticism that oil companies are benefiting as gas prices soar, and as President Joe Biden threatens to pursue a windfall profits…

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Eversource CEO fears New England might not have enough natural gas if winter is bitter

Eversource CEO fears New England might not have enough natural gas if winter is bitter Oct 29, 2022 The top executive of one of the top energy suppliers in New England fears the region may not have enough power if a severe cold spell hits this winter. Eversource Energy CEO…

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War in Ukraine is speeding a global energy transition, hobbling Russian exports, IEA says

War in Ukraine is speeding a global energy transition, hobbling Russian exports, IEA says

War in Ukraine is speeding a global energy transition, hobbling Russian exports, IEA says Energize Weekly, November 2, 2022 Global fossil fuel consumption and greenhouse gas emissions are slowing with oil, coal and natural gas either peaking or reaching a plateau by 2030, according to the International Energy Agency (IEA).…

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Global carbon capture capacity set to grow sixfold by 2030, BloombergNEF says

Global carbon capture capacity set to grow sixfold by 2030, BloombergNEF says

Global carbon capture capacity set to grow sixfold by 2030, BloombergNEF says Energize Weekly, October 26, 2022 Global carbon capture capacity, with more than $3 billion invested in the technology this year, is set to increase sixfold from current levels by 2030, according to an analysis by energy research firm…

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Oil Prices Dip on Report Biden Preparing New Sales From Strategic Petroleum Reserve

Oil Prices Dip on Report Biden Preparing New Sales From Strategic Petroleum Reserve 10/18/22 Global oil prices moved lower Tuesday amid reports that President Joe Biden is planning to unveil another release of crude from the nation’s emergency reserves in an effort to reduce energy costs heading into the mid-term…

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A colder winter and higher energy prices will boost winter heating costs, EIA says

A colder winter and higher energy prices will boost winter heating costs, EIA says

A colder winter and higher energy prices will boost winter heating costs, EIA says Energize Weekly, October 19, 2022 American households will pay more for natural gas, electricity, heating oil and propane to heat their homes, spurred by increased energy prices and the forecast of a colder winter, according to…

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French Refinery Strike Opens Door for More US Exports to Asia

French Refinery Strike Opens Door for More US Exports to Asia October 10, 2022 Asian refiners snapped up at least 12 million barrels of US crude oil in the past two weeks as a strike in France dims demand from one of Europe’s largest buyers. Refiners, mostly from South Korea,…

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Threat of recession and drop in oil demand and prices worry Permian producers

Threat of recession and drop in oil demand and prices worry Permian producers

Threat of recession and drop in oil demand and prices worry Permian producers Energize Weekly, October 5, 2022 Even as oil production rebounds in the Permian Basin, industry executives are worried about a drop in demand due to a recession and remain dogged by rising costs and supply chain problems,…

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Goldman Sachs Drops Oil Price Forecast

Goldman Sachs Drops Oil Price Forecast Sep 27, 2022 Goldman Sachs cut its oil price forecast on Tuesday on the deteriorating global economic outlook—although it remained bullish on oil. Goldman said it remained bullish, anticipating that oil prices would likely rise from the current levels given the state of the…

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Biden to Release 10MM Oil Barrels Ahead of EU-Russian Ban

Biden to Release 10MM Oil Barrels Ahead of EU-Russian Ban September 20, 2022 The Department of Energy will offer additional US reserve crude for sale ahead of plans by the European Union to ban most Russian oil in December. The agency will offer 10 million barrels of low-sulfur crude for…

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Gas, a ‘bridge fuel,’ dominates U.S. power at any price

Gas, a ‘bridge fuel,’ dominates U.S. power at any price 09/20/2022 Surging natural gas prices normally result in booming coal generation. But 2022 isn’t normal. Power companies are shrugging off the highest gas prices in over a decade as they ramp up electricity generation at U.S. gas plants, which are…

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New methane tax more a regulation aimed at curbing emissions than a revenue raiser

New methane tax more a regulation aimed at curbing emissions than a revenue raiser

New methane tax more a regulation aimed at curbing emissions than a revenue raiser Energize Weekly, September 14, 2022 A methane tax in the Inflation Reduction Act will likely serve more as a regulation than a revenue raiser, spurring oil and gas operations to cut down on fugitive emissions to…

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