Despite media whining, oil giants are dumping renewables and net-zero goals in favor of profitable oil and gas. Rigzone and The Telegraph, among other outlets, are reporting that many major energy companies are tempering net-zero pledges they made in recent years, turning away from renewables and back towards oil and gas. [emphasis, links added] This […]
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ENB PUB Note: I call it \”Drill Baby Drill, when fiscally responsible.\” The new mantra among frackers: “Discipline” to not trigger another oil-price collapse through overproduction. Drill Baby Drill, but not too fast. By Wolf Richter for WOLF STREET. Crude oil production in the US rose by 2.5% in 2024, and by 165% since 2008, to a record […]
Continue ReadingDaily Standup Top Stories China discovers ‘limitless’ energy source that could ‘power the country for 60,000 years’ March 2, 2025 Clark Savage ENB Pub Note: Thorium is an outstanding source of energy, and there are several reactor companies around the world working on thorium reactors. This will be one to watch, but remember that China will […]
Continue ReadingA Venezuelan military ship was spotted in Guyana’s waters on Saturday morning sailing close to ExxonMobil’s producing FPSO claiming that the units were operating in “a disputed area”. In a national address, Guyana president Irfaan Ali revealed that the Venezuelan vessel, which entered Guyanese waters on Saturday morning, was part of its coast guard fleet. […]
Continue ReadingPrices rose from the collapsed levels in the prior year and are back where they’d been in 1996, down by 70% from the peak in 2005. By Wolf Richter for WOLF STREET. When it comes to US natural gas production, exports, and imports, a key element is that the price of natural gas in the US has collapsed […]
Continue ReadingPetrobras is beefing up its offshore game, throwing four more support vessels into the mix by 2026—bringing the grand total to 48. Brazil’s state-run oil company is gearing up to boost production to 2 million barrels per day (bpd) at the Buzios field by 2030, cementing Brazil’s status as an offshore oil heavyweight. Petrobras has […]
Continue ReadingThe Republican-controlled Congress voted to repeal a federal fee on oil and gas producers who release high levels of methane. Considered a tax by the oil and gas industry, the fee was one of the previous Environmental Protection Agency\’s final measures to force producers to slash methane emissions. Repealing the methane fee is the latest […]
Continue ReadingWeekly Daily Standup Top Stories Trump’s Energy Czar Has Plan to ‘Map, Baby, Map’ US Oil Bounty February 23, 2025 Clark Savage Burgum suggests stronger USGS role to analyze the potential Says US public lands hold natural resources worth trillions Interior Secretary Doug Burgum touted a plan for mapping deposits of oil, gas and critical minerals on US […]
Continue ReadingIn this episode of Energy News Beat Live from NAPE – Conversation in Energy, host Stuart Turley sits down with Jeff Krimmel, an energy analyst and consultant, who shares insights into the oil and gas industry, including Oxy’s high production costs and the challenges faced by high-cost producers. They discuss the impact of carbon capture […]
Continue ReadingAustralian oil and gas player Karoon Energy has bought the Cidade de Itajaí FPSO for $115m from Altera & Ocyan, the joint venture formed by the Brazilian company Ocyan and Altera Infrastructure. The FPSO was bought by Karoon’s wholly-owned Brazilian subsidiary Karoon Petróleo & Gás. The deal also includes approximately $8m of transaction costs. The […]
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