Category: Oil & Gas

Crude oil prices hit 4-month high while natural gas made a gain too

Monday’s trading brought a 2% gain for crude oil prices as they hit a four-month high following word of lower crude exports from Iraq and Saudi Arabia. Plus, there were indications of stronger demand and economic growth in China, according to Reuters. West Texas Intermediate crude, considered the U.S. benchmark, went up $1.68 or 2.1% …

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Senators repeat their call for Biden administration to end freeze on new LNG exports

  U.S. Senator John Barrasso (R-WY), ranking member of the Energy and Natural Resources (ENR) Committee, joined Senators Dan Sullivan (R-AK), Roger Wicker (R-MS) and Jim Risch (R-ID) in sending a letter to President Biden’s Climate Envoy John Podesta, urging an “immediate reversal” of the Biden administration’s ban on new LNG exports. Specifically, the letter warns of the “dire …

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Springfield looks into making improved natural gas from city landfill

  The City of Springfield, Missouri recently launched an effort to improve its biogas production potential at a local sanitary landfill and Southwest Wastewater Treatment Plant. Indications from Erick Roberts, assistant director of Environmental Services show the collected gas would go through an upgrading process to remove impurities and result in a natural gas quality. …

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Biden’s war on fossil fuels hasn’t worked so far

  Despite President Biden’s war on fossil fuels, the U.S. not only had increased crude oil production in 2023 but also record crude oil exports. The U.S. Energy Information Administration issued a report this week showing the U.S. crude oil exports were a record last year, averaging 4.1 million barrels a day. The amount was …

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Colorado bill to ban oil and gas drilling could devastate state’s economy

  While state lawmakers in Colorado push a bill to end oil and gas drilling in the state by 2030, researchers with one group say if it happens, it will pose a catastrophic threat to the state’s economy. It’s the contention of researchers at the Common Sense Institute after they studied the impact of Senate …

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Energy quick reads

** After coming under attack from both environmentalists and investors in the first half of his seven-year tenure at the helm of Exxon Mobil Corp., Darren Woods is on the offensive. ** Sacramento has taken proactive steps to accelerate the phasing out of dirty-fuel-powered vehicles in the city, announcing a plan to ban new gas stations. That …

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Vital Energy ups notes offering to $800 million

  A day after Tulsa’s Vital Energy announced a $575 billion senior note offering, the company increased it to $800 million. The newest offering involves 7.875% senior notes due 2032 at 100% of par and is expected to close March 28. Vital intends to use the net proceeds of the offering, if completed, together with …

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Energy quick reads

** Top oil executives and ministers descend on Houston this week for one of the world’s biggest energy conferences emboldened by blockbuster mergers, stable oil prices and less pressure for a large scale move to clean fuels. ** As U.S. sales of gas-electric hybrid vehicles surge and electric-vehicle sales cool, automakers and suppliers are betting …

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AG leads fight against EPA rule attacking oil and gas industry

Attorney General Gentner Drummond is leading a group of 24 state attorneys general and one state legislature in challenging the Environmental Protection Agency’s (EPA) new methane emissions rule. The coalition has filed a petition in the United States Court of Appeals for the District of Columbia Circuit to block the rule. “The Biden Administration’s methane …

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New Mexico Gas Co. fails to get regulatory approval for new LNG storage facility

    A plan by New Mexico Gas Company to build a LNG storage facility outside Rio Rancho, New Mexico was recently denied by the state’s Public Regulation Commission. The project had been opposed by residents and environmentalists and the PRC decided the cost was its main objection. “It just doesn’t seem to me that …

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