Northern Oil and Gas in the ‘Catbird Seat’ as Oil Prices Plummet
With crude prices falling below $60/bbl, Northern Oil and Gas CEO Nick O’Grady sees opportunity for his company amid an uncertain outlook.
Saudi Arabia Signals it Can Live With Lower Oil Prices, Sources Say
(Reuters) – Saudi Arabian officials are briefing allies and industry experts to say the kingdom is unwilling to prop up the oil market with further supply cuts and can handle a prolonged period of low prices, five sources with knowledge of the talks said. This possible shift in Saudi policy could suggest a move toward …
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US Crude Stockpiles Draw Unexpectedly on Export, Refinery Demand, EIA Says
(Reuters) – U.S. crude oil stockpiles fell unexpectedly last week on higher export and refinery demand, while gasoline drew down for a ninth straight week, the Energy Information Administration said on Wednesday. Crude inventories fell by 2.7 million barrels to 440.4 million barrels in the week ended April 25, the EIA said, compared with analysts’ …
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Equinor Says it Could Lose Billions on Trump’s Wind Power Clampdown
(Reuters) – Equinor stands to lose billions of dollars on its massive wind power project offshore the state of New York unless U.S. President Donald Trump’s administration reverses a decision to halt the construction, the Norwegian group said on Wednesday. In a blow to the nascent U.S. offshore wind industry, Interior Secretary Doug Burgum said …
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Woodside, BP Enter Gas Supply Contract for Louisiana LNG
Louisiana LNG Gas Management LLC will purchase up to 640 Bcf of natural gas from BP following Woodside Energy’s $17.5 billion FID on the project formerly owned by Tellurian.
Equinor May Sue US After ‘Unlawful’ Halt of Offshore Wind Project
U.S. Interior Secretary Doug Burgum stopped work on the Empire Wind project, offshore New York, which Equinor said could lead to an impairment of the project’s $2.5 billion book value.
Falling Oil Prices Poised for Biggest Monthly Decline Since 2021
So far in April Brent and WTI have lost about 15% and 16% respectively for the biggest percentage falls since November 2021.
Tech Transfer: Oil States Targets Geothermal Energy
Oilfield service company Oil States aims to lower geothermal well costs with its field-proven tension-leg platform technology.
ENERGY NORTH: Canadian Premier Smith Lashes Out at New Prime Minister, Liberals, Wants New Deal – Frustrated at “Overtly Attacked” Industry
Alberta Premier Danielle Smith challenges Mark Carney to improve the relationship between Alberta and the federal government, citing frustration over policies that “overtly attacked” the province’s economy. Smith demands “meaningful action” to reset the relationship, warning that Albertans will no longer tolerate threats to their industries and resources. The Alberta government will hold a caucus …
Ukraine Ready to Sign US Resources Deal in a Matter of Hours
Ukraine is ready to sign a natural resources deal with the US, which could bolster Washington’s support for Kyiv by strengthening their economic partnership. The draft agreement, which has been finalized, may be signed as soon as Wednesday and will allow the US privileged access to new investment projects to develop Ukraine’s natural resources. The …
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