EIA Boosts USA Crude Oil Production Forecasts March 19, 2024 The U.S. Energy Information Administration (EIA) increased its forecasts for U.S. crude oil production for both 2024 and 2025 in its latest short term energy outlook (STEO), which was released last week. According to the March STEO, the EIA now sees U.S. crude oil output…
Oil and gas leases blocked on Permian Basin state land most likely to produce fossil fuel March 11, 2024 Officials blocked oil and gas operations on southeast New Mexico lands within the Permian Basin as the State Land Office tangled with lawmakers on raising the amount companies pay to drill for fossil fuels in those…
TC Energy to sell Portland Natural Gas Transmission System for $1.14 bln March 4, 2024 TC Energy (TRP.TO), opens new tab said on Monday it has agreed to sell Portland Natural Gas Transmission System (PNGTS) to a BlackRock-managed fund and Morgan Stanley Infrastructure Partners for $1.14 billion as part of its ongoing efforts to reduce…
Lawmakers across the U.S., including in Md., seek to curb utility spending on politics, ads and more March 5, 2024 After a string of scandals and amid rising bills, lawmakers in statehouses across the country, including in Maryland, have been pushing legislation to curb utilities spending ratepayer money on lobbying, expert testimony in rate cases,…
Ohio commission awards bids to frack oil and gas under state parks, wildlife areas Feb 26, 2024 An Ohio commission awarded bids to frack oil and gas under state parks Monday, despite statewide backlash and an ongoing investigation into possibly fraudulent support. The Ohio Oil and Gas Land Management Commission granted the mineral rights to…
DOE announces $45 million investment for cybersecurity research FEBRUARY 26, 2024 The Department of Energy on Monday announced a $45 million investment into cybersecurity research for the energy sector, including projects on artificial intelligence detection and response and quantum communication for the grid. DOE’s Office of Cybersecurity, Energy Security, and Emergency Response (CESER) will fund…
US government may sue PacifiCorp, a Warren Buffett utility, for nearly $1B in wildfire costs February 26, 2024 The U.S. government is threatening to sue PacifiCorp, a unit of Warren Buffett’s Berkshire Hathaway, to recover nearly $1 billion in costs related to the 2020 wildfires in southern Oregon and northern California, though the company is…
U.S. Drillers Scale Back Operations as Gas Prices Tumble Feb 16, 2024 U.S. natural gas producers are beginning to reduce drilling and investment as low prices weigh on their returns. Reuters reports that natural gas prices in the U.S. hit the lowest in three and a half year, betraying drillers’ expectations for a rebound this…
US oil companies to merge in $26bn deal as firms rush to buy up drilling land 12 Feb 2024 Two American oil and gas companies have said they will merge in a $26bn (£21bn) deal, the latest in a wave of acquisitions designed to buy up the best land for drilling. Diamondback Energy has agreed…
Lawmakers look to send more state funds to clean up New Mexico’s abandoned oil wells Feb 5, 2024 A bipartisan New Mexico Senate bill intended to unlock more state funding for the clean up of abandoned oil and gas wells was endorsed by industry leaders during the 2024 Legislative Session. Senate Bill 249, sponsored by…
Global investment in clean tech and energy transition reached a record $1.8 trillion in 2023 Energize Weekly, February 7, 2024 Global investments in the energy transition from fossil fuels to clean tech climbed 17 percent in 2023 to a record $1.8 trillion, according to a study by the energy research group BloombergNEF. The largest investments…
U.S. Oil Drillers Are Going Electric—and Hitting Speed Bumps January 29, 2024 In the country’s busiest oil field, frackers are devouring nearly as much electricity as four Seattles every day—and they are clamoring for more. Diamondback Energy, a major producer in the Permian Basin of West Texas and New Mexico, has increasingly relied on the…
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