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 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.
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%…
Oman's OQEP will offer 25% in IPO, reports state news agency
Oman's OQEP Exploration and Production will offer 25% its total issued capital on September 30, making it the largest initial public offering in the Gulf Region this year. The IPO plans form part of a program by OQ, the state-owned group that controls energy in Oman.
Senegal president announces election of parliament on November 17
Senegal's President Bassirou Diomaye Faye dissolved Thursday the national assembly led by the opposition, paving the way for legislative elections to be held early on November 17. Faye, the new leader of the country, stated in…
EIA: Permian Basin gas capacity will increase with the launch of Matterhorn pipeline
The U.S. Energy Information Administration said Tuesday that the Matterhorn Express Pipeline is expected to begin operating in this month. Matterhorn, in a joint venture between Whitewater, EnLink Midstream and MPLX will transport natural gases from the Permian basin to Katy…
Sources: Exxon pulls out of race to purchase stake in Namibian oil block from Galp
Exxon Mobil pulled out of the race for half of Galp Energia’s stake in a major oil discovery in Namibia, which has drawn interest from other top energy companies. Sources have previously stated that more than 12 oil companies…
Texas sued for anti-ESG laws
Texas was sued on Thursday by a nonprofit whose members support environmentally-friendly policies, and which seeks to block a state law targeting businesses that support reduced reliance on fossil fuels. The American Sustainable Business Council claimed that the 2021 law…
IEA reduces its 2025 oil consumption forecast as China offsets gains globally
The International Energy Agency (IEA), citing the impact of a weaker Chinese economy on consumption, kept its forecast for global oil demand growth in 2024 unchanged but lowered its estimate for 2025. This is the second report…
Occidental Petroleum Jumps into Acquisition Mode
Occidental Petroleum said on Monday it would buy energy producer CrownRock in a cash-and-stock deal valued at $12 billion including debt, expanding in the lucrative Permian basin.Investors are pressing oil and gas producers to…
