Energy News

 

Oil Dips 2% as Hurricane Fears Ease

Nov 08, 2024

Oil prices fell more than 2% on Friday as traders grew less fearful of prolonged supply disruptions from a hurricane in the U.S. Gulf of Mexico, while China's latest economic-stimulus packages failed to impress some oil traders.U.S. West Texas Intermediate futures CLc1 led the decline…

ND Governor Burgum on Trump's Energy Shortlist

Nov 08, 2024

President-elect Donald Trump is considering North Dakota Governor Doug Burgum to be his new 'energy tsar', the Financial Times reported on Friday.Burgum is Trump's preferred candidate for the role, the newspaper reported citing people familiar with the discussions…

Baker Hughes: US Rig Count Remains Steady

Nov 08, 2024

U.S. energy firms this week kept the number of oil and natural gas rigs operating unchanged for a record third week in a row, according to energy services firm Baker Hughes' data going back to 1987.The oil and gas rig count, an early indicator of future output…

Analysts: Trump Hardening Iran Policy Might Not Stem Flow to China

Nov 06, 2024

Former President Donald Trump's return to the White House could mean tougher enforcement of U.S. oil sanctions against Iran, potentially trimming global supplies, but his administration could struggle to get China, Iran's top crude customer…

ADIPEC Urges Efforts to Assist Emerging Economies

Nov 06, 2024

Energy and finance leaders at ADIPEC urge joint efforts to mobilize capital for emerging economies.The new Finance & Investment Conference at ADIPEC 2024 concluded today with a renewed call for accessible and affordable capital for a fair energy transition…

Orsted says US Green Energy Demand Will Grow Regardless of Election Results

Nov 05, 2024

Orsted said that the demand for green power will continue to grow in the United States, regardless of the person who is elected as president. However, the group also pointed out construction issues and increased costs at an offshore wind farm in the United States…

Ultra-Deepwater FPSO Starts Oil Production Offshore Brazil

Oct 30, 2024

Petrobras has achieved first oil with the Floating Production Storage and Offloading (FPSO) unit Marechal Duque de Caxias, one of the largest ultra-deepwater FPSOs in the world, installed at the Mero field in Santos Basin, offshore Brazil.The FPSO has the capacity to produce up to 180…

US Gulf of Maine Offshore Wind Auction Draws Just $22 Million in Bids

Oct 29, 2024

A Biden administration auction of offshore wind development rights in the Gulf of Maine drew $21.9 million in high bids for half of the eight areas offered, the U.S. Bureau of Ocean Energy Management said on Tuesday.Offshore wind developers Avangrid AGR…

Egypt President, Eni CEO Discuss Gas Production

Oct 28, 2024

Egypt's president met with Eni CEO on Monday to discuss moves aimed at supporting gas production, the Italian energy group said after the African country was forced to turn to the liquefied natural gas (LNG) market to cover domestic demand.The…

BOEM Wraps Environmental Review for New York Bight

Oct 24, 2024

The U.S. Bureau of Ocean Energy Management (BOEM) has finalized an extensive environmental review concerning wind development activities across six lease areas in the New York Bight, covering more than 488,000 acres off the coasts of New York and New Jersey…

Equinor Tries Again for a Japan Offshore Wind Lease

Oct 22, 2024

Norwegian energy company Equinor has submitted a bid to develop an offshore wind farm together with other companies in the latest round of Japan's state auctions, two sources said, as it seeks a foothold in the fledgling market.Equinor's bid…

Gazprom CEO Paints Bleak Future for Europe Without Russian Gas

Oct 10, 2024

The CEO of the Kremlin-controlled energy giant Gazprom said on Thursday that Europe was damaging its own industrial sector by artificially destroying demand for gas, as Russian gas exports to the region have shrivelled.Alexei Miller said there could be gas price shocks and supply disruption ahead…

Oil Set for Biggest Weekly Gains in Two Years

Oct 04, 2024

Oil prices rose for a fourth consecutive session on Friday as investors braced for a potential Israeli strike on Iranian energy infrastructure, setting up crude benchmarks for their biggest weekly gains since OPEC+ began curtailing output two years ago…

Offshore Wind Opponents in Australia, Europe Lean on US Groups for Advice

Sep 23, 2024

Bill Thompson's fight to stop offshore wind farms was once confined to the tiny U.S. state of Rhode Island where he lives. Today, he is part of a global movement.In April, Thompson, who is director of the activist group Green Oceans, got an email from a fellow anti-offshore wind group more than 10…

Chevron CEO Hits Biden's Natural Gas Policies, Says Fuel is Crucial for AI

Sep 17, 2024

Chevron CEO Michael Wirth on Tuesday criticized U.S. President Joe Biden's administration for what he described as 'attacks on the natural gas” industry and emphasized the crucial role of Permian natural gas in powering the rapid growth of artificial intelligence (AI)…

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