Can Trump reverse Biden's offshore oil drilling ban?
In an executive order issued on Monday, President Donald Trump revoked the ban placed by former Democratic president Joe Biden against new offshore oil-and-gas development along most of America's coasts. Trump will face legal challenges regarding his authority. What did BIDEN and Trump do? Biden used his authority, granted by the Outer Continental Shelf Lands Act of 1970, to stop oil and gas drilling in federal waters along the East and Western coasts of the United States as well as the eastern Gulf of Mexico.
Biden administration protects more Alaska refuge from drilling
The administration of President Joe Biden moved on Thursday to restrict oil and gas drilling in more areas of Alaska's Arctic National Wildlife Refuge. This was a last minute move to frustrate President-elect Donald Trump’s plans to increase drilling in this area. The Interior Department which manages ANWR said that it had identified certain areas of refuge to be protected in order to preserve the fish and wildlife used there by subsistence hunter.
Trump's nominee for Interior Department says that boosting energy is key to US security
Doug Burgum, Donald Trump's nominee to lead the Interior Department said on Thursday that he would vigorously pursue President-elect Trump's goals to maximize energy production from U.S. Public Lands and Waters, calling it a key to national security. Burgum's remarks to lawmakers at his nomination hearing indicate a sharp change in policy. For years, President Joe Biden tried to limit oil-and-gas drilling by reducing federal leasing auctions and prohibiting future development in certain offshore waters in order to combat climate change.
Trump's nominee for Interior supports drilling on federal land
Doug Burgum, the nominee for Secretary of Interior by Donald Trump, will tell Congress during his nomination hearing Thursday that he is committed to maximizing energy production on America's public land and waters. He will call this a key element of national security. The comments are a sign of a policy shift that is about to occur. President Joe Biden tried for years to limit oil and gas drilling in federal waters by reducing federal auctions and prohibiting future development. This was part of his strategy to combat climate change.
Alaska sues Biden Administration over ANWR Leases
The U.S. state of Alaska has sued the Biden administration for what it calls violations of a Congressional directive to allow oil and gas development in a portion of the federal Arctic National Wildlife Refuge (ANWR).Monday's lawsuit in the U.S. District Court in Alaska challenges the federal government's December 2024 decision to offer oil and gas drilling leases in an area known as the coastal plain with restrictions.The lawsuit said curbs on surface use and occupancy make it "impossible or impracticable to develop" 400…
USDoI: ANWR Drilling Auction Yields no Bids
The U.S. Interior Department said on Wednesday that a congressionally mandated oil and gas drilling lease auction in Alaska's Arctic National Wildlife Refuge received no bids from energy companies.The outgoing administration billed the outcome as proof the 19 million-acre refuge, home to species including polar bears and Porcupine caribou, should remain off-limits to fossil fuel development, even as President-elect Donald Trump seeks to encourage expanded drilling there.The U.S.
Trump announces that he will immediately revoke the offshore drilling ban imposed by Biden
Donald Trump, the U.S. president-elect, said Tuesday that he would move quickly to lift a ban on offshore oil and natural gas drilling announced by Joe Biden, the outgoing Democratic president. "Banning off-shore drilling will not hold. Trump announced at a press conference that he would reverse the ban immediately. The Republican Trump will take office on January 20, but it may be difficult to reverse Biden’s order that 625 million acres (253.3 million hectares of ocean) would not be used for new offshore oil and natural gas development.
Biden bans offshore oil and gas drilling before Trump's term
The U.S. president Joe Biden has announced that he will ban all new offshore oil and natural gas development along the majority of U.S. coasts. This is a decision which President-elect Donald Trump who has pledged to increase domestic energy production may find hard to reverse. Biden, according to the White House on Monday, will exercise his authority under 70-year-old Outer Continental Shelf Lands Act in order to protect federal waters along the East and Western coasts of the United States as well as the eastern Gulf of Mexico.
Biden bans offshore oil and gas drilling before Trump's term
The U.S. president Joe Biden has announced that he will ban all new offshore oil and natural gas development along the majority of U.S. coasts. This is a decision which President-elect Donald Trump who has pledged to increase domestic energy production may find hard to reverse. Biden, according to the White House on Monday, will exercise his authority under 70-year-old Outer Continental Shelf Lands Act in order to protect federal waters along the East and Western coasts of the United States as well as the eastern Gulf of Mexico.
US drillers reduce oil and gas rigs in the US for the second week running - Baker Hughes
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on the number of natural gas and oil rigs for the second week running for the first since early October. The number of oil and gas drilling rigs, a good indicator of future production, dropped by one in the week ending November 22 to 583, the lowest level since early September. This brings the total number of rigs down by 39 or 6% from this time last. Baker Hughes reported that oil rigs increased by one this week to 479, while gas-rigs decreased by two to 98.
Baker Hughes: US drillers reduce oil and gas rigs in the US for the first time in 4 weeks.
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have cut back on the number of oil rigs for the first time since four weeks. The number of oil and gas drilling rigs, a good indicator of future production, dropped by one in the week ending Nov. 15 to 584, the lowest level since early September. This is a reduction of 34 rigs, or 6% from the same time last year. Baker Hughes reported that oil rigs dropped by one this week to 478. This is their lowest level since the week of July 19.
US oil industry calls on Trump to abandon Biden's climate policies
The U.S. Oil and Gas Industry on Tuesday called for President-elect Donald Trump's revocation of many policies implemented by President Joe Biden to combat climate change. They said the measures threatened jobs, consumer choices and energy security. The American Petroleum Institute, the nation's largest oil and gas trade association, has urged the incoming Trump administration to remove vehicle emission standards designed to encourage the auto industry to make more electric vehicles.
US oil industry calls on Trump to abandon Biden's climate policies
The U.S. Oil and Gas Industry on Tuesday called for President-elect Donald Trump's revocation of many policies proposed by President Joe Biden to combat climate change. They said the measures threatened jobs, consumer choices and energy security. The American Petroleum Institute, the nation's largest oil and gas trade association, has urged the incoming Trump administration to remove vehicle emission standards designed to encourage the auto industry to make more electric vehicles.
Sources say ConocoPhillips is exploring the sale of Permian Shale assets worth more than $1 billion.
ConocoPhillips has been looking at selling some of its Permian basin shale assets worth more than $1billion, after two unsuccessful years of trying to sell the same assets. Houston-based oil producer, Texas, is preparing to complete its $22.5 billion acquisition of Marathon Oil before the end of the year. As part of the deal it will assume approximately $5.4 billion in debt from Marathon Oil and plans to raise an additional $2 billion by selling assets.
Baker Hughes reports that the US oil/gas rig counts are stable this week. Pennsylvania has fallen to a 17-year low.
Baker Hughes, a closely watched energy services company, said that the U.S. firms maintained the same number of oil and gas rigs this week. The count fell to a low not seen in Pennsylvania for 17 years, according to its report. The number of oil and gas drilling rigs, a good indicator of future production, was 585 during the week ending October 25. Baker Hughes reported that the total number of workers was down by 40 or 6% compared to this time last. This week, oil rigs dropped by two - to 480 - while gas rigs grew by two – to 101.
Oil producer APA Corp will sell Permian assets at $950 mln
APA Corp, a U.S. oil-and-gas producer, announced on Tuesday that it will sell its non-core Permian drilling properties for $950 million to an unnamed buyer as part of its efforts to reduce debt. Energy companies are rushing to increase their oil and natural gas drilling inventory, particularly in the Permian Basin, which is the largest shale formation in the United States. In an attempt to reduce debt and streamline operations, companies have also been forced to sell assets.
US drillers have cut oil and gas drilling rigs in the fourth week of a row, according to Baker Hughes
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on the number of natural gas and oil rigs for the fourth consecutive week for the first since late June. The number of oil and gas drilling rigs, a good indicator of future production, dropped by one to 582 during the week ending Sept. 6, which is the lowest level since June. Baker Hughes reported that oil rigs remained at 483 this past week while gas rigs dropped by one to 94. This is their lowest level since April 2021.
Senators ask Biden to reduce South Korean import quotas for piping products
Three Democratic U.S. Senators called on the Biden Administration on Friday to lower the current import quota for oil and gas drilling pipe from South Korea. They said it had impacted businesses in Ohio and Pennsylvania. Sherrod Brown, Bob Casey, and John Fetterman, senators from Ohio, Pennsylvania, and Pennsylvania, all noted that the market for Oil Country Tubular Goods - used in drilling, extraction, and transportation of oil and gas - has decreased, resulting in layoffs at companies operating within the United States.
US drillers reduce oil and gas rigs in the US for a second consecutive week - Baker Hughes
Baker Hughes, a leading energy services company, said that the U.S. firms have cut back on the number of natural gas and oil rigs for a second consecutive week for the first since late June. The number of oil and gas drilling rigs, a good indicator of future production, dropped by one in the week ending August 23. Baker Hughes reported that the total number of rigs is 47 or 7% lower than it was at this time last. Baker Hughes reported that oil rigs remained at 483 in this week's report, while gas-rigs dropped by one to 97.
APA Mulls $1B Permian Assets Sale, say sources
APA Corp is exploring the sale of oil and gas drilling properties spread across parts of the Permian basin of Texas and New Mexico, in a deal that could be valued at about $1 billion, people familiar with the matter told Reuters.APA, which owns the properties through its Apache subsidiary, is working with investment bankers at RBC Richardson Barr and Truist Securities on the sale process, the sources said, requesting anonymity as the discussions…
