The price of oil and gas been rising steadily since April 2020, but a snowball effect, mixed with an industry reluctance to invest in new production and refining, is contributing to record-high gas prices that show no sign of dropping soon, reports Chron. While Russia’s invasion of Ukraine has caused globalContinue Reading
Demand for oil, gas and petroleum products has quickly rebounded as the world recovers from COVID-19. Meanwhile, supplies have been crippled due to Russia’s ongoing invasion of Ukraine. Despite this, many U.S. oil refiners have no plans to expand operations, according to Marketplace. “Investors do not want to see companies pouringContinue Reading
The February 2021 winter storm in Texas has had long lasting implications for the energy world. Energy experts are still working to identify what led to the “perfect storm”, including the vast amount of power Texas pipeline operators have compared to the rest of the country, reports the Houston Chronicle. ThisContinue Reading
The Department of Energy recently announced authorization for expanded exports of liquified natural gas from two terminals in Texas and Louisiana, reports the Washington Post. The move aligns with U.S. efforts to increase LNG exports to Europe amid Russia’s war with Ukraine. “We will not allow Vladimir Putin to wedge ourContinue Reading
The Department of Energy is giving a $107 million conditional commitment loan to Syrah Technologies, the operator of a plant in Vidalia, Louisiana which produces natural graphite-based active anode material crucial for manufacturing batteries, reports Canary Media. Unlike previous loans by the DOE meant to aid research and development, Syrah TechnologiesContinue Reading
Energy analysts are predicting a major production surge in the Permian Basin, thanks to soaring costs and demand, and an all-time high number of drilling permits, reports the Houston Chronicle. Production in the Permian has already topped pre-pandemic levels, and oil giants are announcing plans to boost production in the regionContinue Reading
Oil and gas producers are ramping up production in some high-cost shale basins, buying new properties and adding new rigs and frack crews, reports Reuters. With benchmark U.S. prices at their highest since 2014 and relatively low service costs, producers are feeling motivated. “Drilling economics today are better than they’ve everContinue Reading
The United States has climbed the ranks to take the spot as the world’s top exporter and producer of liquified natural gas (LNG), while China has claimed the spot as the world’s top importer, reports OilPrice.com. The oil and gas power changes have led to market volatility, which is compounding onContinue Reading
As of Aug 30, oil and gas operations in the Gulf of Mexico were still severely hindered in the wake of Hurricane Ida, reports S&P Global. Around 75% of Louisiana refineries and nearly 95% of offshore oil production remained offline as of Monday. Read MoreContinue Reading
Off-shore U.S. oil rigs and drilling platforms in the Gulf of Mexico are facing the new challenge of keeping COVID-19 at bay in cramped working conditions, reports Bloomberg. Operators have stepped up screening and cleaning, lengthened job assignments, and have begun enforcing isolation periods in an effort to avoid having toContinue Reading
The Trump Administration has chosen not to appeal a 10th Circuit Court of Appeals ruling which would sharply reduce the use of waivers exempting refineries from biofuel requirements laid out in the U.S. Renewable Fuel Standard (RFS), reports Reuters. Small refineries, such as CVR Refining, LP refinery in Wynnewood, Okla.,Continue Reading
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