Exxon withdraws from talks with Guyana about shallow water oil blocks, says the government
Exxon Mobil, a U.S. oil company and its partners pulled out of negotiations on Thursday with Guyana’s government over terms for exploring and developing an oil block in shallow water. Exxon, Hess of the United States and CNOOC from China won the offshore…
IMF and World Bank leaders promise to work with Trump at UN climate summit
The World Bank and International Monetary Fund chiefs said on Tuesday that they would continue to work with Donald Trump's incoming administration in the United States to provide funding to countries affected by climate change. Kristalina Georgeieva, IMF's chief, told a panel at the U.N.
The US climate envoy said that work would continue despite Trump’s return
John Podesta, U.S. Climate Envoy, urged governments on Monday to believe in the promise of the United States to combat global climate change. He said Donald Trump could slow down, but not stop the transition away from fossil fuels, when he returns to the White House in January. The annual U.N.
US renewable fuel credits reach multi-month highs in spite of Trump's reelection
U.S. renewable energy credits reached multi-month highs Friday, thanks to increased demand by refiners to meet mandates as well as higher soyoil prices. This surprised traders who had expected Donald Trump’s reelection to the U.S. presidency to impact on the market.
US federal energy revenues to fall 10% by 2024 but remain among the highest ever
The U.S. Interior Department reported that federal revenue from energy production in public lands and water fell 10% to $16.4 billion during the last fiscal year. Interior Department announced on Friday. This was the fourth-highest year since 1982, and the lowest total since 2021.
Freeport's local director says that the delay in mining permits is a serious issue.
The U.S. mining company Freeport-McMoRan's local director said that the extended delay in Chile in enacting the reforms aimed at expediting the mining permits is a "serious problem" for the industry. The miners of Chile also claim that regulatory obstacles are slowing down project development.
US crude, fuel inventories fall last week, EIA says
The Energy Information Administration (EIA), which released its report on Wednesday, said that the U.S. crude, gasoline, and distillate inventory fell last week. The EIA reported that crude inventories dropped by 515,000 barrels, to 425.5 millions barrels for the week ending October 25.
Deep sea oil drilling drillers are now subject to new safety regulations in the US
The Bureau of Safety and Environmental Enforcement, or BSEE, released new rules on Tuesday for U.S. off-shore drillers. This is because breakthrough technology allows them to operate in extreme subsea conditions and unlock untapped oil reserves worth billions of dollars.
EIA: US crude and gasoline inventories increase, while distillates are drawn down.
The Energy Information Administration (EIA), which is responsible for the U.S. Energy industry, announced on Wednesday that crude oil and gasoline stocks in the United States increased while distillate stockpiles fell. The EIA reported that crude inventories increased by 5.5 millions barrels…
Eletrobras and Ocean Winds have agreed to evaluate offshore wind projects in Brazil
The Brazilian power company Eletrobras signed a Memorandum of Understanding with Ocean Winds on Tuesday to study the development and deployment of offshore wind farms. In the future, offshore wind farms will be a key technology for generating large amounts of renewable energy in Brazil.
Sources say that Brazil is aiming to attract foreign investment through a green development platform.
Brazil will launch a new platform on Wednesday to attract more foreign investment into sustainable development. The platform will highlight $8 billion worth of promising private sector projects, and look to triple this portfolio within a year. Four Brazilian…
Petrobras signss agreement to supply Vale fuel with renewable content
Petrobras and Vale have agreed to sell Vale diesel containing renewable content. The two Brazilian giants announced the agreement on Friday. The agreement represents a concrete step by Vale in decarbonizing its operations. It also marks a victory for Petrobras…
US approves major geothermal projects on public land and seeks to support others
The Biden Administration announced on Thursday measures to expand geothermal power on U.S. Public Lands, including the approval of a large project located in Utah and steps to accelerate permits for discovering new resources. These moves align with the…
The US Renewable Diesel Production Capacity has experienced its largest monthly decrease in history
Data from the Energy Information Administration on Monday showed that the U.S. renewable-diesel production capacity decreased in July at the highest rate since the industry's rapid expansion began three years ago. The capacity to produce biomass-based biofuels and renewable diesel…
EIA reports that US crude, gasoline, and distillate stocks are falling.
The Energy Information Administration reported on Wednesday that U.S. crude, gasoline, and distillate stocks fell last week. The EIA reported that crude inventories dropped by 4.5m barrels, to 413m barrels for the week ending Sept. 20. This was in contrast…
Sources say that the FTC is set to approve chevron’s purchase of Hess for $53 billion, according to sources.
Two people with knowledge of the matter say that the U.S. Federal Trade Commission will likely approve the purchase by U.S. oil company Chevron of Hess this week. Exxon Mobil is the last hurdle to clear. The merger proposal was announced in October last year.
Analysts say that Colombia must develop a natgas plan soon to prevent blackouts.
If it wants to prevent power blackouts in Colombia, the head of Wood Mackenzie’s Americas Gas and LNG division said that Colombia needs to decide quickly whether it will focus on LNG imports or promote domestic production of natural gas. Colombia, under…
Chevron CEO criticizes Biden's natural-gas policies and says fuel is essential for AI
Michael Wirth, CEO of Chevron, criticized U.S. president Joe Biden on Tuesday for "attacks" on the natural-gas industry. He also emphasized the critical role that Permian gas plays in accelerating the growth of artificial intelligence. The CEO's comments…
Rural towns in New Mexico's arid region are looking to treated oil wastewater for a drought solution.
Stephen Aldridge, a pilot of a four-seater helicopter, could see a dozen lagoons filled with toxic waste glistening in the distance between drill rigs. The mayor of Jal, a tiny town nestled in the middle of U.S. Oil Country near the Texas border, saw the…
Rystad reports that US oil and gas M&A will reach a record in 2023, with the focus shifting away from Permian.
Analysts at Rystad, a consultancy, said that the appetite of U.S. producers for deals is close to last year's level, as a rise in interest in smaller oilfields offsets sluggish activity in the Permian Basin, which produces most oil. According to Rystad's analysis of the U.S.
