Wednesday, December 25, 2024

Oil Producing News

North Dakota oil operators are still bringing back some facilities online after wildfires in October

The state's Industrial Commission reported on Wednesday that oil operators in North Dakota are still working to bring some of their facilities online after wildfires in October ravaged key oil-producing counties. Mark Bohrer…

US House panel finds BlackRock and other asset managers reluctant to join climate initiative

According to a report published on Friday by the Republican-led U.S. Congress committee, top asset managers in the United States were concerned that signing up for an industry climate initiative would make them look like they…

US House panel finds BlackRock and other asset managers hesitant to join climate initiative

According to a report published Friday by a Republican led U.S. Congressional Committee, top asset managers in the United States are concerned that signing up for an industry climate initiative will make them look like they're…

Palm prices rise on lower-than-expected end-Nov stock forecasts

Malaysian palm futures rose on Thursday due to lower estimated November stocks. The country is the second largest palm oil exporter in the world. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange…

EIA reports that US oil production fell by the most in September since January.

The U.S. Energy Information Administration's (EIA) data showed that the crude oil production in the United States fell by 157,000 barrels a day (bpd), month-over-month, to 13,20 million bpd during September. This was the biggest decline since January.

OPEC+ Postpones its output policy meeting until Dec 5

OPEC announced on Thursday that the OPEC+ group of oil producing countries had postponed their next meeting regarding output policy from December 1 to Dec. 5, to avoid a clash with another event. OPEC announced that several OPEC+…

Palm oil closes higher than rival oils, with possible tax increases on exports in Indonesia

Malaysian palm oils futures rose Monday after three sessions of declines. They were boosted by the stronger oil prices in rival countries and the expectation that Indonesia would raise its palm oil export taxes. At the close…

Trump selects Burgum as Interior Secretary

Donald Trump, the president-elect, announced on Thursday that North Dakota governor Doug Burgum will be his choice for Interior Secretary. Burgum is a former wealthy software executive. Trump, dressed in a tuxedo, said that the Department of Interior would be headed by him.

Henry Hub natgas price drops to a 25-year low, while Waha is in negative territory

According to LSEG's pricing data, U.S. natural gas spot prices fell to a new 25-year low in Louisiana at the Henry Hub benchmark and entered negative territory at the Waha hub for the 47th consecutive time. The energy traders…

COP29: Which are the main issues at the UN Climate Summit in Baku

The U.N. Climate Summit COP29, which will take place in Baku on November 15th, has been called the "climate financing COP" because its main goal is to decide how much money each year should be allocated to help developing countries deal with climate-related expenses.

Researchers say that a late-season storm could disrupt the US oil production by 4 million barrels.

Researchers said that a late-season tropical storm, which is predicted to intensify this week into a Category 2 hurricane in the U.S. Gulf of Mexico, could reduce U.S. crude oil production by approximately 4 million barrels.

Researchers say that a late-season storm could disrupt the US oil production by 4 million barrels.

Researchers said that a late-season tropical storm, which is predicted to intensify this week into a Category 2 hurricane in the U.S. Gulf of Mexico, could reduce U.S. crude oil production by approximately 4 million barrels.

Canada proposes a sharp reduction in emissions from the oil and gas industry by 2030

On Monday, the Canadian government released draft regulations which would cap greenhouse gas emissions from the oil and natural gas sector. Producers will be required to reduce emissions by 35% from 2019 levels and 2030. In a press release…

Canada wants the energy sector to reduce emissions up to 35% from 2019 levels

The Canadian government released on Monday a draft regulation that would limit emissions of greenhouse gasses from the oil and natural gas sector to 35% below 2019 levels. This is a little less than originally anticipated. In a press release…

OPEC is optimistic about global oil demand and does not see a peak in sight

Haitham Al Ghais, secretary general of the Organization of Petroleum Exporting Countries in Abu Dhabi, said that oil demand is expected to be very high in the near and medium term. He said that while there are challenges, the overall picture is not as bad as it sounds.

New Mexico considers oil drilling restrictions which would reduce output and revenue

New Mexico is the second largest oil producer in the U.S. A leading economist released this week a study about potential drilling restrictions. The study showed that they could affect up to 5,4% of the future crude production and cost billions in revenue.

New Mexico considers oil drilling restrictions which would reduce output and revenue

New Mexico's chief economic officer said in a recent report that the state is currently studying new drilling restrictions. These could affect up to 5.4% its future crude production and cost the state billions in revenue. The study looked at proposed setbacks…

Palm prices fall as India avoids premium prices but still has the best week for 16 months.

Malaysian palm futures ended lower on Friday, but still recorded its highest weekly gain since more than 16-months, as India pulled away from buying amid an increasing premium over soft oils. Fund positions are largely driving the current prices.

Palm reverses losses due to higher crude oil prices

Malaysian palm futures recovered from early losses and ended higher for the second session in a row on Monday, due to higher crude oil price. The benchmark palm-oil contract for December delivery at the Bursa Derivatives exchange ended the session with a gain of 1.05%…

Palm prices fall as India rejects premium prices and funds drive the market

Malaysian palm futures declined on Friday, but were still on track to have their best week in over 16 months. India pulled back from purchasing due to a growing premium for soft oils. Fund positions are driving the current prices.