Gas flaring in the largest U.S. shale plays has been in the spotlight since the shale revolution started. Pressure from society and ESG investors have recently turned up the heat on the oil and gas industry to reduce flaring and eliminate routine flaring as a step toward contributing to emissions reduction. The spotlight in the […]
China has been betting big on developing its shale gas resources, driven by surging natural gas demand and efforts to boost energy security. State oil and gas majors have been investing heavily in shale gas development in the key shale provinces and have really boosted shale gas production in recent years. Although China is estimated […]
Shell is buying ubitricity, the European provider of on-street charging for electric vehicles (EVs) that has the largest public EV charging network in the UK, the supermajor said on Monday. The expansion of Shell’s EV charging offering is part of the oil major’s support for low-carbon transport by offering electric vehicle drivers public on-street charge […]
The U.S. oil rig count increased for the eigth consecutive week as drillers capitalize on higher oil prices. Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose by 13 to 373. The oil and gas rig count has risen for eight weeks in a row for […]
OPEC was formed in 1960 by founding members Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela. For a brief period, the petroleum cartel became the dominant force behind world oil prices and a key geopolitical power broker, with its members controlling nearly half of world oil production and more than three-quarters of global oil reserves. As […]
OPEC, and especially OPEC+, has always seemed to be at odds with the U.S. shale industry. From the drastic oil embargos of the ‘70s to the all-out oil price war of 2020, OPEC policies have threatened to upend the United States’ use and production of crude. But the group’s latest policies may be a lifeline […]
There’s a breaking energy story that could potentially be a repeat of Texas’ multi-billion dollar Midland Basin… A basin that has been producing since the 1930s and won’t reach peak production until 2035 at a phenomenal 3.8 million boe/d … The most trusted name in natural resource assessments—Wood Mackenzie–says this new discovery is analogous not […]
An Alaska judge has ruled against a request for an injunction against a lease sale in the Arctic National Wildlife Refuge in Alaska scheduled for today, letting the tender proceed. The AP reports that District Judge Sharon Gleason motivated her decision with failure on the part of the plaintiffs—environmentalists and Native American communities—to show the […]
Several U.S. states will hold oil and gas lease sales via EnergyNet in January, with most of the bids due before January 20 when President-elect Joe Biden is scheduled to take office. Biden’s energy plan favors renewables development and promises a ban on new oil and gas leases on federal lands. Alaska, New Mexico, Texas, […]
Brent Crude prices are set to average $50.67 a barrel in 2021, slightly down from the price at which they traded early on the last trading day of 2020, the monthly Reuters poll of analysts and economists showed on Thursday. The key downside risk for oil prices in 2021 will be the mutating strains of […]
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