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By Bruno Venditti | Graphics/Design: Sam Parker Key Takeaways New Mexico doubled oil production from 2019 to 2024, reaching over 2M barrels/day. Texas remains the top oil-producing state with 5.7M barrels/day, leading the Permian Basin output. The U.S. is in the midst of a historic oil boom. For the past two years, the country has …
Mapped: U.S. Oil Production by State – Visual Capitalist Read More »
US forces intercept and seize a sanctioned oil tanker off the coast of Venezuela, in a video released by the US Department of Justice on Dec. 10.Source: US Department of Justice The US has ratcheted up pressure on the government of Venezuela with a series of measures designed to stifle the country’s vital oil exports. …
What US Blockade Means for Venezuela’s Oil Industry Read More »
By Francois de Beaupuy, Nayla Razzouk, and Francine Lacqua TotalEnergies SE Chief Executive Officer Patrick Pouyanne said rising demand for oil will help to underpin prices, despite their recent slump on growing concerns about a global surplus. Oil is on track for a yearly loss, with supply set to exceed demand both this year and …
TotalEnergies CEO Says Growing Demand Will Underpin Oil Prices Read More »
(Reuters) – U.S. private equity giant Carlyle has hired Goldman Sachs to work on its bid for Lukoil assets, two sources familiar with the matter told Reuters on Wednesday, as the race for the sanctioned Russian oil firm’s overseas portfolio heats up. At least a dozen potential suitors have expressed interest in buying Lukoil assets, …
Carlyle Hires Goldman Sachs For Lukoil Asset Bid Read More »
By Ari Natter Oil production hit another record this year, climbing above 13.8 million barrels a day in September. Photographer: Robyn Beck/AFP/Getty Images The US is on pace to pump more oil this year than any other nation in history as President Donald Trump puts the federal government’s full weight behind his sweeping agenda to …
Trump US Vowed Energy Dominance. Here’s How He’s Doing Read More »
(Reuters) – U.S. crude stocks fell while gasoline and distillate inventories rose last week as refining activity climbed, the Energy Information Administration said on Wednesday. Crude inventories dropped by 1.3 million barrels to 424.4 million barrels in the week ended December 12, the EIA said, compared with analysts’ expectations in a Reuters poll for a …
US Crude Stocks Fall, Fuel Inventories Fall on Robust Refining Activity, EIA Says Read More »
The United States is preparing a further round of sanctions on Russia’s energy sector to increase the pressure on Moscow should President Vladimir Putin reject a peace deal with Ukraine, Bloomberg News reported on Wednesday, citing people familiar with the matter. The U.S. is considering options such as targeting vessels in Russia’s so-called shadow fleet …
US Readies New Russia Sanctions if Putin Rejects Peace Deal, Bloomberg News Reports Read More »
Oil sands could maintain current production rates for more than 140 years By Will Gibson Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Pipelines at a thermal in situ oil sands facility. Photo courtesy Alberta Energy Regulator Investor interest in Canadian oil producers, primarily in the Alberta oil sands, …
Alberta’s Huge Oil Sands Reserves Dwarf U.S. Shale Read More »
(Reuters) – Venezuela’s state-run company PDVSA is dealing with stuck oil cargoes, rising price discounts and demands from customers to change terms of spot contracts following the U.S. seizure of a ship carrying the OPEC country’s crude, traders and sources said. As Washington’s pressure on President Nicolas Maduro grows, the U.S. Coast Guard last week …
Venezuela Faces Big Oil Discounts, Pressure for Contract Changes After Tanker Seizure Read More »
By Clyde Russell LAUNCESTON, Australia, Dec 16 (Reuters) – China’s flows of crude oil into storage probably jumped in November to the highest in six months, as a surge in imports overwhelmed steady refinery processing rates. China’s surplus of crude was about 1.88 million barrels per day (bpd) in November, almost three times the 690,000 …
China Accelerates Crude Stockpiling Amid Weaker Oil Price Trend Read More »
