Category: Crude Oil News

Fracking

GOP Rep Unveils Bill: No President Can Ban Fracking Without Congressional Approval

Clark Savage288

Republican Rep. August Pfluger introduced a new bill Friday that would prevent the president from banning fracking nationally without the consent of Congress. [emphasis, links added] Pfluger’s “Protecting American Energy Production Act” would explicitly require an act of Congress to impose a fracking moratorium and prevent the president from doing so directly. Several Democrats have called for […]

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U.S. Northeast Gasoline Reserve

In 2024, U.S. retail gasoline prices averaged about 20 cents less than in 2023

Clark Savage300

Data source: U.S. Energy Information Administration, Gasoline and Diesel Fuel Update Note: Retail price is for all formulations of regular grade gasoline. The U.S. retail price for regular grade gasoline averaged $3.30 per gallon (gal) in 2024, $0.21/gal less than in 2023. Lower crude oil prices and narrower refinery margins in 2024 than in 2023 both contributed to the decrease […]

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US Treasury

US Treasury imposes ‘sweeping’ sanctions on Russian oil industry

Clark Savage218

The restrictions target two major Russian producers, along with what Washington calls a “shadow fleet” transporting Russian oil The US Treasury on Friday announced a fresh round of sanctions against Russia, imposed in conjunction with the UK. The restrictions target Russia’s oil industry, including two major producers – Gazprom Neft and Surgutheftegaz – as well as their […]

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Alaska

Alaska sues Biden administration over oil and gas drilling leases in Arctic refuge

Clark Savage283

The US state of Alaska has sued the Biden administration for what it calls violations of a congressional directive to allow oil and gas development in a portion of the federal Arctic National Wildlife Refuge (ANWR). The federal lawsuit in the US district court in Alaska filed on Monday challenges the federal government’s December 2024 decision to add restrictions to an […]

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SLB

SLB scores deepwater drilling contracts with Shell

Clark Savage244

Shell Houston-based oilfield service giant SLB has been awarded a series of drilling contracts by Shell to support energy development across its deep- and ultra-deepwater assets. The scope of the contracts will include digital directional drilling services and hardware, logging while drilling, surface logging, cementing, drilling and completions fluids, completions, and wireline services on assets […]

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