LATEST OIL NEWS – Oil had its biggest January gain in at least 30 years as robust demand outpaced fresh supply. The global benchmark settled above $91 a barrel, posting a 17% gain this month. The combination of booming demand, scratchy supply and dwindling stockpiles has helped crude soar this month, with top banks and […]
In October 2020, the French government blocked a $7 billion deal between Engie, a partially state-owned French energy enterprise, and NextDecade, a U.S. liquefied natural gas (LNG) company, because the gas was too dirty. But recently, it was revealed that a new, 11-year deal was quietly signed for that same fuel last June—this time between Engie and Cheniere Energy, […]
Another oil and gas operator sought expansions into the Permian Basin. It is in southeast New Mexico and West Texas. This is as the fossil fuel markets continued to grow in early 2022. Split Rock Resources, based in Fort Worth, Texas, announced on January 18. The purchase is about $97.5 million worth of non-operated lands […]
DEER PARK, Texas — Two giant murals, on storage tanks at an oil refinery here, depict the rebels led by Sam Houston. They secured Texas’ independence from Mexico in the 1830s. This week those murals will become the property of the Mexican national oil company. This means acquiring full control of the refinery. Let’s talk […]
President Joe Biden announced plans to release up to 50 million barrels of oil from the strategic petroleum reserve. This is to lower retail fuel prices. Many analysts warned that any effect this move would have would be short-lived. Indeed, prices dropped for a very short. On the other hand, it is now on the […]
Wyoming’s economy continued to rebound in the third quarter of 2021, but its growth has slowed down. And thanks to the highest prices of oil and natural gas seen in several years, the mining industry had a relatively good quarter. On the whole, Wyoming recorded about 6,800 or 2.4% more payroll jobs in the third […]
Global oil and gas investment is expected to grow by $26 billion this year. This is as the industry continues to recover from the worst of the coronavirus. All of this is according to a new analysis from Rystad Energy. Overall oil and gas investment is forecast to climb by 4% to $628 billion this […]
Oil rises by 1.5% on Tuesday as OPEC+ producers agreed to stick with their planned increase for February based on indications that the Omicron coronavirus variant would have only a mild impact on demand. Brent crude was up $1.15, or 1.5%, at $80.13 a barrel, its highest since November, by 13:33. p.m. EST (1833 GMT) […]
The U.S. became the world’s No. 1 LNG Exporter (liquefied natural gas) for the first time ever last month, as deliveries surged to energy-starved Europe. Output from American facilities edged above Qatar in December after a jump in exports from the Sabine Pass and Freeport facilities, according to ship-tracking data compiled by Bloomberg. Cheniere Energy […]
Oil and gas’ interest in the Permian Basin of southeast New Mexico and West Texas continued to rise. This is as multiple deals valued at more than $100 million were announced. It was in recent weeks while production ramped up on the heels of COVID-19. Production slowed as travel and business restrictions stymied fuel demand. […]
