Daily Standup Top Stories Shell sold millions of ‘phantom’ carbon credits May 7, 2024 Stu Turley “Shell sold millions of carbon credits tied to CO₂ removal that never took place to Canada’s largest oil sands companies, […]
(Bloomberg) – The U.S. purchased 2.8 MMbbl of crude for the nation’s emergency oil cache as it seeks to replenish depleted supplies. The Energy Department has been slowly refilling the Strategic Petroleum Reserve after it […]
(WO) – During a discussion titled, “Energy security in a volatile world: The importance of markets” at CERAWeek by S&P Global in Houston, Texas, Hess Corp. CEO and namesake John Hess made an impassioned call […]
While it took the Biden administration the better part of six months to drain the US oil supply down to a precarious 20-days of emergency reserves (a 40-year low), it will take decades to refill […]
Oil prices are down this morning after the ‘good news is bad news’ data from the US offsetts additional production-cut announcements this week from OPEC-plus members Saudi Arabia and Russia. Crude remains about 10% lower […]
Reuters U.S. Secretary of Energy Jennifer Granholm delivers a speech ahead of a conversation with Daniel Yergin, the vice chairman of S&P Global, during the CERAWeek energy conference in Houston, Texas, U.S., March 8, […]
Authored by Bruce Wilds via Advancing Time blog, One of Biden’s answers to combating higher gas prices has been to tap into America’s oil reserves. While I was never a fan of the U.S. Strategic […]
The Strategic Petroleum Reserve, which was established in 1975 as a reaction to the 1973 oil embargo, is now at its lowest level since December 1984. Ultimately, the SPR is not as important today as […]
There are a number of factors that have pushed oil prices into the stratosphere, but the rally may be becoming unsustainable. Russia’s war in Ukraine has created a particularly tight oil market, and it could […]
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