EnergyNow Media 
By Irina Slav More from Irina Slav The idea of the energy transition has been occupying a lot of my time and mental capacity lately so I thought I’d put together some thoughts on how we could do it more, shall we say, economically. 1. Improve tax collection: There’s always room for improvement here and it’s … Read more
June 30 (Reuters) – The United States on Thursday raised about $22 million from oil and gas auctions in seven Western states, with drillers passing on nearly half of the acreage offered. The sales of leases on public land were the Biden administration’s first to the oil and gas industry and were viewed as a … Read more
NEW YORK/HOUSTON, June 30 (Reuters) – A busy Atlantic hurricane season and tight fuel supplies could further strain U.S. refiners who already have the lowest oil-processing capacity in eight years, analysts warned, adding this would boost prices for gasoline and diesel. In recent years, hurricanes temporarily knocked out processing capacity along the U.S. Gulf Coast, … Read more
Summary Regulator finds conditions posing public safety risk U.S. set timeline for independent review of plant, repair plan June 8 blast released 120,000 cubic feet of LNG, methane Freeport sees partial resumption in early October HOUSTON, June 30 (Reuters) – The second-biggest U.S. liquefied natural gas export facility hit by fire earlier this month will … Read more
LONDON, June 30 (Reuters) – Global manufacturing activity and freight movements have begun to decelerate as the major economies buckle under the combined impact of inflation, lockdowns, sanctions and rising interest rates. Worldwide industrial production in the three months between February and April was just 3.75% higher than in the corresponding period a year earlier, … Read more
(Bloomberg) Oil rose, reversing Thursday’s steep decline, as supply disruptions deepened in Libya. West Texas Intermediate added 1.6%, tipping it into a weekly gain. Libya’s oil exports have fallen to about a third of last year’s level after the worsening political crisis prompted the suspension of shipments from two of the nation’s biggest ports. Risk of weaker … Read more
Jul 1, 2022 (Bloomberg) For the first time, the US is supplying more natural gas to Europe than Russia sends by pipelines, according to the International Energy Agency. Europe is seeking alternatives such as US liquefied natural gas to Russian supplies after Gazprom PJSC slashed shipments through Nord Stream, its biggest pipeline to Europe, and cut … Read more
About Like most energy companies, your organization has invested in technology that supports its core operations. But with the world’s landscape rapidly evolving and shifting, there’s a strong need to implement newer and complementary tools to existing systems that meet the demands of today’s challenges. If you want your business to evolve, the way you … Read more
Jun 29, 2022 (Bloomberg) Gasoline demand in the US shows signs of further softening just three weeks into the peak driving season, with near-record prices likely encouraging people to stay closer to home.The four-week moving average of gasoline supplied — the best gauge for demand — fell below 9 million barrels a day, or about 600,000 barrels less than typical seasonal … Read more
(Bloomberg) Every year, energy supermajor BP Plc performs a much-needed service for economists, analysts and long-term planners everywhere with its annual Statistical Review of World Energy. Published since the 1960s, it’s a trove of data on energy production and consumption, power generation, trade flows and other aspects of today’s energy system. The publication always rewards a close look at both … Read more
June 30, 2022 Oil prices are expected to stay above $100 a barrel this year as Europe and other regions struggle to wean themselves off Russian supply, a Reuters poll showed on Thursday, though economic risks could slow the climb. A survey of 34 economists and analysts forecast Brent crude would average $106.82 a barrel … Read more
U.S. natural gas futures fell about 3% on Thursday on expectations last week’s storage build will be near normal despite hotter than usual weather, as the shutdown of Freeport’s liquefied natural gas (LNG) export plant in Texas left more fuel available for utilities to stockpile. Prices fell despite a drop in daily output this week … Read more
The U.S. Supreme Court on Thursday imposed limits on the federal government’s authority to issue sweeping regulations to reduce carbon emissions from power plants in a ruling that will undermine President Joe Biden’s plans to tackle climate change. The court’s 6-3 ruling restricted the Environmental Protection Agency’s (EPA) authority to regulate greenhouse gas emissions from … Read more
Summary Saudi Arabia, Russia forged OPEC+ alliance in 2016 Riyadh’s diplomacy highlights a difficult balancing act Biden pushes for more oil as he seeks to isolate Russia Moscow seen benefiting from alliance amid Ukraine crisis LONDON/DUBAI, June 30 (Reuters) – Saudi Arabia’s push for swifter oil production hikes by OPEC+, which were agreed in June, … Read more
June 30 (Reuters) – The U.S. Interior Department has recommended to the White House that all federal offshore oil and gas drilling auctions over the next five years be located in the Gulf of Mexico, where the drilling industry has already been focused for decades, according to two sources familiar with the matter. The recommendation … Read more
The OPEC+ coalition ratified an oil-production increase that completes the return of supplies halted during the pandemic, while deferring discussions on its next move for another day. The 23-nation group led by Saudi Arabia rubber-stamped plans to add 648,000 barrels a day in August, restoring the final tranche of the 9.7 million barrels a day … Read more
(Bloomberg) First Solar Inc. has decided against building a new factory in the US, citing uncertainties regarding trade policy and tax incentives. The biggest US solar manufacturer is still planning a manufacturing facility in either Europe or India, and Chief Executive Officer Mark Widmar expects to make a final decision within 90 days. That would come after the … Read more
(Bloomberg) The world is heading for a “turbulent period” as tightening supplies of liquefied natural gas and oil exacerbate a global energy crunch, Shell Plc Chief Executive Officer Ben van Beurden said. Speaking in Singapore, the CEO painted a bleak picture of an energy supply that will struggle to replace large swathes of Russian oil … Read more
By Alex Longley Jun 30, 2022 (Bloomberg) Oil is heading for the first monthly decline since November as OPEC+ ministers prepare to gather to discuss the group’s supply policy. West Texas Intermediate futures traded near $110 a barrel after closing almost 2% lower on Wednesday. OPEC+ is expected to rubber-stamp an increase in supply for August, but focus is … Read more
June 29, 2022 DENVER, June 29, 2022 (GLOBE NEWSWIRE) — PDC Energy, Inc. (“PDC” or the “Company”) (Nasdaq: PDCE) announced today that the Colorado Oil and Gas Conservation Commission (“COGCC”) approved the Company’s Broe Oil & Gas Development Plan (“OGDP”) permit, which encompasses 30 wells in rural Weld County, Colorado. The Broe OGDP was initiated … Read more
Gillette, WY, June 23, 2022 – RigER Inc., a leading oil and gas software provider, announced a major update to its oilfield services software with significant enhancements – RigER 9.5 Gillette. What is RigER? RigER oil and gas software allows supervisors, administrators, field workers, and office staff to manage oilfield assets easily. RigER oilfield software … Read more
With global inventories steadily falling and spare capacity eroding, the oil market resembles a geological fault line in which stress is quietly accumulating and will eventually be relieved by an earthquake of as yet unknown magnitude. The most likely stress relief will come from a deceleration in oil consumption as a result of a recession … Read more
Vicki Knott: CEO & Co-Founder of Crux OCM In this episode, Geoffrey speaks with Vicki Knott, CEO and co-founder of CRUX OCM, a technology company focused on bringing robotic industrial process automation into heavy industry. Control rooms and SCADA systems for a wide range of industries (water and wastewater, oil, gas, mining, rail, and power … Read more
Summary Macron tells Biden that UAE, Saudi can barely raise oil output OPEC, OPEC+ begin 2 days of policy meetings LONDON/SINGAPORE, June 29 (Reuters) – Oil prices gained for a fourth straight session on Wednesday with tight supply worries offsetting concerns about a weaker global economy. Brent crude futures for August were little changed at … Read more
(Bloomberg) A historic drop in greenhouse gas emissions and energy consumption during the height of the Covid-19 pandemic rapidly reversed course last year when the dirtiest fossil fuel made a comeback, according to oil giant BP Plc.The findings show the difficulty of achieving pledges from last year’s COP26 climate talks, where delegates clinched a historic deal … Read more
(Bloomberg) A three-day Group of Seven summit hosted by Germany ended on Tuesday, with leaders backing a plan to discuss how to cap energy prices and pledging to support Ukraine indefinitely.Leaders will have the opportunity to resume talks on defense and Russia’s invasion at a NATO summit in Madrid. As they make their way there from … Read more
Signage is seen at an Exxon gas station in Brooklyn, New York City, U.S., November 23, 2021. REUTERS/Andrew Kelly June 28 (Reuters) – U.S. oil major Exxon Mobil Corp (XOM.N) and Imperial Oil Ltd (IMO.TO) said on Tuesday they will sell their Montney and Duvernay shale oil and gas assets in Canada to Whitecap Resources Inc (WCP.TO) for C$1.9 billion ($1.48 … Read more
June 29 (Reuters) – U.S. power companies are facing supply crunches that may hamper their ability to keep the lights on as the nation heads into the heat of summer and the peak hurricane season. Extreme weather events such as storms, wildfires and drought are becoming more common in the United States. Consumer power use … Read more
LONDON, June 29 (Reuters) – OPEC and OPEC+ begin a series of two-day meetings on Wednesday with sources saying chances of a big policy change look unlikely this month. At its last meeting in early June OPEC+ decided to speed up production cuts and to raise output each month by 648,000 barrels per day (bpd) … Read more
It’s apparent even today that most of the on-site heat treatment industry is still using outdated procedures and equipment. This causes production inefficiencies, which consistently push projects over budget while exposing the workforce to unnecessary safety risks. Expenses associated with research and development coupled with a reluctance towards change generally reduces the time and money … Read more
VEERUM’s application provides the primary visualization and analytics application to combine all CAD, geospatial, document management, IoT and operational systems. Clients can now elevate all their siloed and valuable data into an easy-to-use cloud-based application. VEERUM is the simplest and easiest to use solution on the market so you can stay ahead of the competition … Read more
Polytetrafluoroethylene (PTFE) also known by the brand name Teflon is a highly flexible and versatile material that offers universal chemical resistance. PTFE-lined steel piping systems are ideal for handling corrosive fluids commonly used in industrial and manufacturing processes. The strength of the steel housing provides mechanical integrity while the plastic liner provides chemical resistance. PTFE-lined … Read more
Investors sold petroleum last week at the fastest rate since just after Russia’s invasion of Ukraine, as the deteriorating economic outlook trumped fears about the impact of sanctions on oil supplies. Hedge funds and other money managers sold the equivalent of 71 million barrels in the six most important petroleum futures and options contracts in … Read more
WASHINGTON, June 28 (Reuters) – Jobs in the U.S. energy business rose 4% last year, at a faster clip than the country’s overall private sector, led by work in low-carbon vehicles, while positions in fossil fuels fell as the pandemic cut demand, the Department of Energy said on Tuesday. The U.S. Energy and Employment Report showed … Read more
Exports of crude oil from the U.S. Gulf Coast could hit a record 3.3 million barrels per day (bpd) this quarter, analysts said on Monday, as Europe chases U.S. crude to offset sanctioned Russian oil. U.S. exports have risen in the last three months, helped by Washington’s decision to release 180 million barrels of oil … Read more
Are you ready for Net Zero? Call for Papers for the 24th World Petroleum Congress, Calgary edition is now open! Join a line-up of industry experts and energy practitioners and share your strategies to shape the future of the energy landscape to deliver innovations to address GHG challenges. Choose from 17 technical forums across 4 … Read more
LONDON, June 28 (Reuters) – G7 leaders have agreed to study possible price caps on Russian oil and gas to try to limit Moscow’s ability to fund its invasion of Ukraine, G7 officials said on Tuesday. The officials, who include U.S. Treasury Secretary Janet Yellen, say the measure will limit the price that Russia receives … Read more
Jun 28, 2022 (Bloomberg) Oil rose for a third day with global output threats compounding already red-hot markets for physical supplies and as broader financial sentiment improved.Brent crude breached $117 a barrel on Tuesday, but some of the most notable moves in recent days have been in more specialist market gauges. A contract known as the … Read more
Jun 28, 2022 (Bloomberg)Group of Seven nations are set to allow some exceptional public financing of overseas fossil-fuel projects to continue provided that the investments are consistent with prior climate-change agreements, according to people familiar with the matter. The final text of the leaders’ statement, due to be published Tuesday at the conclusion of a … Read more
The OPEC+ alliance is set for an easy meeting this week as it cruises to the conclusion of a two-year pact on oil supplies. The respite won’t last long. When it gathers on Wednesday and Thursday, the 23-nation group led by Saudi Arabia is expected to rubber-stamp another production increase scheduled for August, completing the … Read more
June 27, 2022 The Group of Seven rich nations are debating a global price cap for Russian oil that would curb Moscow’s energy revenues and potentially limit its ability to fund its invasion of Ukraine. LOWER EXPORTS, MORE MONEY Higher crude oil and fuel prices allowed Russian revenues to climb in May despite its export … Read more
U.S. President Joe Biden and French President Emmanuel Macron attend the G7 leaders summit at the Bavarian resort of Schloss Elmau castle, near Garmisch-Partenkirchen, Germany, June 27, 2022. REUTERS/Lukas Barth/Pool GARMISCH-PARTENKIRCHEN, Germany, June 27 (Reuters) – Two top OPEC oil producers, Saudi Arabia and the United Arab Emirates, can barely increase oil production, French President … Read more
(Bloomberg) US profit margin estimates are too optimistic, putting stocks at risk of more declines when Wall Street analysts downgrade their expectations, according to Goldman Sachs Group Inc. strategists. “While rotations within the equity market have signaled expectations of slowing growth, index valuation does not appear to be providing a buffer for the uncertainty around the … Read more
By Irina Slav More from Irina Slav Last week, while we were all watching oil prices, the European parliament voted for three emission-reduction policies aimed at helping the bloc meet its climate targets, which is the new ultimate goal of Europe, apparently. Perhaps it’s time to turn it into videogame. But I digress. The three policies include … Read more
PRESENTATION: conformii Innovation Presentation ARTICLE: conformii Simplifies Compliance and ESG Management – Learn More What is Energy Innovation Month? Energy Innovation Month is a month-long promotional campaign that will feature some of the latest and greatest innovation, technology, and research from experts across the energy sector.
June 27 (Reuters) – U.S. shale oil producers are returning to existing wells and giving them a second, high-pressure blast to lift output for a fraction of the cost of a finishing a new well. These “re-fracs” are taking hold as shale oil producers look to take advantage of $100 a barrel crude without making … Read more
(Bloomberg) Ecuador’s oil production is likely to halt completely within 48 hours if road blocks and vandalizing of oil wells continue, the Energy Ministry said in an emailed statement. Anti-government protests launched June 13 risk shutting down the former OPEC member’s oil industry “due to the acts of vandalism, takeover of wells and closing of roads, … Read more
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