President Joe Biden announced plans to release up to 50 million barrels of oil from the strategic petroleum reserve. This is to lower retail fuel prices. Many analysts warned that any effect this move would have would be short-lived. Indeed, prices dropped for a very short. On the other hand, it is now on the […]
Wyoming’s economy continued to rebound in the third quarter of 2021, but its growth has slowed down. And thanks to the highest prices of oil and natural gas seen in several years, the mining industry had a relatively good quarter. On the whole, Wyoming recorded about 6,800 or 2.4% more payroll jobs in the third […]
Global oil and gas investment is expected to grow by $26 billion this year. This is as the industry continues to recover from the worst of the coronavirus. All of this is according to a new analysis from Rystad Energy. Overall oil and gas investment is forecast to climb by 4% to $628 billion this […]
Oil rises by 1.5% on Tuesday as OPEC+ producers agreed to stick with their planned increase for February based on indications that the Omicron coronavirus variant would have only a mild impact on demand. Brent crude was up $1.15, or 1.5%, at $80.13 a barrel, its highest since November, by 13:33. p.m. EST (1833 GMT) […]
The U.S. became the world’s No. 1 LNG Exporter (liquefied natural gas) for the first time ever last month, as deliveries surged to energy-starved Europe. Output from American facilities edged above Qatar in December after a jump in exports from the Sabine Pass and Freeport facilities, according to ship-tracking data compiled by Bloomberg. Cheniere Energy […]
Oil and gas’ interest in the Permian Basin of southeast New Mexico and West Texas continued to rise. This is as multiple deals valued at more than $100 million were announced. It was in recent weeks while production ramped up on the heels of COVID-19. Production slowed as travel and business restrictions stymied fuel demand. […]
The number of active drilling rigs in the United States last week rose by 7, bringing the total to 586 as oil prices remain relatively strong despite the fresh wave of Covid-19 cases brought by the new variant of the coronavirus. Let’s talk more about the US oil rig here. Last week’s count compared with a rig […]
Texas oil and natural gas job growth grew by 15.4% this November compared to last November. It brought 2,400 upstream jobs last month. This is the data from the Current Employment Statistics report from the Bureau of Labor Statistics show. What happened in the past 6 months? Employment gains in the Texas oil and natural […]
The average energy stock is on track to gain more than 50% this year, a stunning result for a sector that has lagged far behind the market for most of the past decade. Prospects are looking good for 2022, too, particularly in oil. Oil prices are indeed rising and will continue to rise. International crude […]
The demand for the products they make will remain robust for years to come. Moreover, demand will continue even as the world attempts to transition to lower-carbon energy sources. This is what the leaders of the world’s largest oil companies said on Monday. At the World Petroleum Congress in Houston, they said that while the […]
