Is California on the precipice of social and economic collapse? ENB Pub Note: This article is from the California Globe by Katy Grimes, and she has appeared on the Energy News Beat several times discussing the California energy crisis caused by Gavin Newsom. David Blackmon, Stu Turley, and Mike Ariza will be recording a podcast […]
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As the world’s largest oil and gas companies slash spending on low-carbon “transition” projects for the first time in eight years, one thing is crystal clear: U.S. oil majors are proving that fiscal discipline and bold upstream development are not mutually exclusive—they are the winning formula. According to BloombergNEF data highlighted in today’s Watts Up […]
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U.S. energy firms pulled back drilling activity for the second straight week, with the Baker Hughes rig count falling 9 rigs to 543 total active rigs for the week ending March 27, 2026. This marks the sharpest single-week decline since early 2026 and leaves the U.S. count down 49 rigs (8.3%) from the same week […]
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In a significant boost for California’s energy security and domestic oil supply, Chevron Corp. announced plans to purchase up to 20,000 barrels per day of crude oil from Sable Offshore Corp.’s newly restarted Santa Ynez Unit platforms off the coast of Santa Barbara. The deal, reported today, marks one of the first commercial sales of […]
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In a sign of cautious optimism across the U.S. energy sector, drillers added oil and natural gas rigs for the second consecutive week — the first back-to-back gains since early February — according to the latest Baker Hughes weekly rig count released Friday. The total number of active rotary rigs climbed by two to 553 […]
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The Bureau of Land Management (BLM) opened bids yesterday for the first competitive oil and gas lease sale in the National Petroleum Reserve–Alaska (NPR-A) since 2019 — and the results are stunning. Industry submitted 430 bids on 187 tracts covering approximately 1.335 million acres out of the 5.5 million acres offered across more than 600 […]
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Energy News Beat Analysis – March 2026 Oil prices have spiked in early 2026 amid escalating Middle East tensions, with WTI futures recently trading in the $75–$90+ range and Brent pushing even higher on supply disruption fears. Geopolitical risks around the Strait of Hormuz have flipped the script from the soft-price environment many producers budgeted […]
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As of March 15, 2026, global oil markets are buzzing with Brent crude prices climbing to $103.82 per barrel, marking a significant milestone above the $100 threshold amid ongoing geopolitical tensions and supply disruptions in key regions like the Strait of Hormuz. Meanwhile, West Texas Intermediate (WTI) crude is hovering just below at $99.30, reflecting […]
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The ongoing conflict involving Iran has sent shockwaves through global energy markets, marking what experts describe as the largest oil supply disruption in history. With the Strait of Hormuz effectively closed to most commercial shipping since late February 2026, approximately 20 million barrels per day (mb/d) of oil and petroleum products—representing about 20% of global […]
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In a bold move amid escalating global oil tensions, President Donald Trump is set to invoke the Defense Production Act—a Cold War-era authority—to override California state regulations and fast-track operations for Sable Offshore Corp. This decision targets the reactivation of idle offshore oil platforms off the southern California coast, aiming to bolster domestic crude […]
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