(Reuters) – The U.S. government is not currently considering using Venezuelan oil in an exchange with U.S. oil companies to refill the country’s Strategic Petroleum Reserve, the Department of Energy said on Friday. Earlier on Friday, Reuters reported that two sources said the Trump administration was exploring a plan that would deliver Venezuelan oil to …
Oil majors have grown more efficient in the years since the shale bubble burst in 2014, pumping record production with a fraction of the workforce. By Julia Fanzeres and Will Kubzansky An oilfield crew works a service rig during a state-funded oil well plugging operation in Midland. Photographer: Eli Hartman/Bloomberg The US oil and gas …
The 40% of US Oil Jobs Lost Over the Last Decade Aren’t Coming Back Read More »
By Stephen Stapczynski, Priscila Azevedo Rocha, and Archie Hunter Steve Hill, left. Photographer: Danielle Villasana/Bloomberg Steve Hill, who was hired by Mercuria Energy Group in 2024 to build out its liquefied natural gas business, is leaving the trading house. Hill was part of the company’s efforts to expand into the fast-growing global LNG market. Before …
Veteran Gas Executive Steve Hill Is Leaving Mercuria Read More »
By Jennifer A Dlouhy and Naureen S Malik A power substation near a data center in Ashburn, Virginia. Photographer: Nathan Howard/Bloomberg President Donald Trump and the governors of several US Northeastern states agreed to push for an emergency wholesale electricity auction that would compel technology companies to effectively fund new power plants. The unprecedented plan, …
Trump Moves to Have Tech Giants Pay for Surging Power Costs Read More »
Concerns over a global crude glut have pressured prices, weighing on profits. By David Wethe Harold Hamm, the billionaire wildcatter who helped kick off the US shale oil revolution, is once again making history. This time it’s a sign of retrenchment. Hamm said he’s about to shut down drilling in North Dakota’s Bakken for the …
Oil Wildcatter Hamm Is Halting Drilling in the Bakken Read More »
By Jennifer A Dlouhy and Will Wade Trump administration officials vowed to keep US coal power plants operating, casting it as an imperative to meet surging electricity demand and drive a revival of the nation’s industrial base. “The goal is 100% open,” said Interior Secretary Doug Burgum. “That’s the standard we’re operating against.” Burgum’s comment …
Trump Officials Vow to Keep All US Coal Plants Running Read More »
(Reuters) – The year 2025 in the LNG sector will be one for the history books after production and exports of the super-chilled fuel smashed records and raked in billions of dollars in revenues across the global liquefied natural gas supply chain. A 25% surge in LNG purchases by European countries was a key highlight …
What Excites and Worries LNG Exporters in 2026: Maguire Read More »
(Reuters) – U.S. oil refiners are expected to have about 724,000 barrels per day of capacity offline in the week ending January 16, decreasing available refining capacity by 450,000 bpd, research company IIR Energy said on Friday. Offline capacity is expected to rise to 1.1 million in the week ending January 23, IIR said. The …
US Oil Refiners’ Weekly Capacity to Fall by 450,000 Barrels Per Day, IIR Energy Says Read More »
(Reuters) – A federal judge on Friday will consider whether to allow Dominion Energy to resume construction on its $11.2 billion Virginia offshore wind project in a lawsuit against the Trump administration over its suspension of the venture. The hearing in U.S. District Court for the Eastern District of Virginia will be the third time …
Summary Benchmark prices hit multi-month highs this week Significant price volatility remains likely, say BMI analysts Underlying balance still points to ample supply, says Phillip Nova analyst (Reuters) – Oil prices rose slightly on Friday as supply risks remained in focus despite the receding likelihood of a U.S. military strike against Iran. Brent crude gained …
Oil Prices Edge Higher as Supply Risks Remain in Focus Read More »
