Gulf of Mexico Oil, Gas Production Almost Fully Restored After Hurricane September 17, 2024 Gulf of Mexico oil and gas production is almost fully restored following hurricane Francine, a statement posted on the Bureau of Safety and Environmental Enforcement’s (BSEE) website on Monday revealed. In the statement, the BSEE noted that, from operator reports, it…
Brent Crude Tumbles Below $75 a Barrel, Erasing 2024 Gains September 3, 2024 Brent erased its 2024 gains as concerns about demand in the world’s two biggest economies overshadow heightened geopolitical risks. The global benchmark dropped below $75 a barrel and touched the lowest intraday price since December 2023. Read more
Exxon looks to sell non-core oil assets in the US Permian Basin August 27, 2024 Top U.S. oil company Exxon Mobil (XOM.N), opens new tab is looking to sell oil assets in the U.S. Permian Basin that could fetch $1 billion, Bloomberg Law reported on Tuesday. Exxon, which purchased Pioneer Natural Resources for $60 billion…
Shell to shut-in portions of Louisiana Zydeco oil pipeline for maintenance Aug 26, 2024 Oil major Shell on Monday said it plans to shut-in different portions of its Zydeco pipeline system for maintenance for three to four days starting Sept 24, limiting flows of some light crude to Louisiana. The Zydeco pipeline system, which spans…
U.S. oil and gas M&A tops $30 billion for the third straight quarter Energize Weekly, August 7, 2024 Oil and gas mergers and acquisitions (M&A) in the second quarter of 2024 marked the third consecutive quarter of $30 billion or more in transactions, according to energy consultant Enverus Intelligence Research. Before this run, quarterly deals…
Energy companies win dismissal of Baltimore’s climate change case July 11, 2024 A Maryland judge on Thursday dismissed a lawsuit by the city of Baltimore seeking to hold energy giants such as Exxon Mobil(XOM.N), opens new tab, BP(BP.L), opens new tab and Chevron(CVX.N), opens new tab responsible for climate change, saying the case went beyond…
ConocoPhillips Still Sees Marathon Oil Merger Closing Q4 despite FTC Probe July 15, 2024 ConocoPhillips has maintained that its $22.5 billion acquisition of Marathon Oil Corp. can be completed by the fourth quarter (Q4) despite facing an extended anti-trust review by the United States competition regulator. The Federal Trade Commission (FTC) issued a so-called “second…
Global oil production to rise while demand falls, putting pressure on prices and investments Energize Weekly, July 10,2024 Increasing global oil production in the face of plateauing demand will put price pressures on producers and challenge the large capital investment the industry is making, according to the International Energy Agency’s (IEA) annual market analysis and…
Federal departments announce about $280M in funding for Alaska projects July 1, 2024 Three departments of the U.S. government have announced they have awarded about $280 million in new funding for transportation and energy projects in Alaska, money made available through the Infrastructure Investment and Jobs Act of 2021 and the Inflation Reduction Act of…
DOE, EPA announce $850M to reduce methane emissions from oil, natural gas industries June 25, 2024 The U.S. Department of Energy (DOE) and the U.S. Environmental Protection Agency recently announced $850 million in federal funding was available for projects that will help monitor, measure, quantify, and reduce methane emissions from the oil and natural gas…
Big energy projects moving fast, face $150 billion a year in cost overruns, Bain & Co. says Energize Weekly, June 19, 2024 The scale and speed of the energy transition risks project delays and setbacks leading to cost overruns of 15 percent to 20 percent, equal to $150 billion a year, according to research paper…
U.S. natural gas output rises as methane emissions fall, pointing to pollution control gains Energize Weekly, June 12, 2024 U.S. natural gas production rose by 40 percent between 2015 and 2020, while methane emissions from drilling and extraction fell by 37 percent – pointing to significant gains in pollution control, according to a report by…
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