Oil extended four weeks of gains amid oil tight fuel supply and a weaker dollar. Elevated prices are fanning concerns that the world economy may be heading for a recession. As a result, these concerns will surely affect economies response to the crisis. West Texas Intermediate futures topped $111 a barrel. Gasoline and diesel prices […]
The tumult of war and climate breakdown has proved lucrative for the world’s leading oil and gas companies, with financial records showing 28 of the largest producers made close to $100bn in combined profits in just the first three months of 2022. Buoyed by oil commodity prices that soared following the turmoil caused by Russia’s […]
Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 88,000 barrels per day (bpd) to a record 5.219 million bpd in June, the U.S. Energy Information Administration (EIA) said in its productivity report on Monday. Total output in the major U.S. shale oil basins […]
Mexico oil and gas companies put thousands of dollars every year into New Mexico’s political campaigns. This is on both sides of the aisle. It is seeking to influence policy to protect continued growth in the industry. Currently, it represents about a third of the state’s budget. That amounted to about $1.1 million in political […]
In Wyoming, most of us fuel our cars with gasoline, heat our homes using natural gas, and rely on electricity generated from coal. And we depend on state services paid for, in large part, by taxes imposed on the companies extracting that oil, gas, and coal — industries whose contributions to state coffers have also […]
Want an update on the number of oil and natural gas drilling activity permits issued by the Texas Railroad Commission? Currently it reached an all-time high in March, at more than 1,100. Hundreds of companies of all sizes are jumping into the fray. Activity is picking up across the state, with the Permian Basin reportedly […]
Both the European Union and the United States are firmly on the path to a net-zero economy. This much has been made clear by officials from both sides of the Atlantic. This is despite the EU’s hunt for more gas and the Biden administration’s calls for more oil production. Before net zero ambitions is achieved—if […]
Global ambitions to tackle climate change are being under discussion by rising concerns about energy security. This is according to a new report by RBC. This is why oil and natural gas are going to be used for quite a while. The Russian invasion of Ukraine has sent energy prices soaring. In effect, there are […]
The US Energy Secretary said on Monday U.S. oil and gas production is rising. It will continue to rise to make up for the 1 to 1.5 million barrels of oil per day. Moreover, it has been pulled off the market in the wake of Russia’s invasion of Ukraine. Jennifer Granholm told CNBC the boost […]
OKLAHOMA CITY – The price for gasoline is up nationwide as American consumers feel the squeeze from global sanctions against Russia. Basically, oil and gas production is affected. Last month, Oklahoma Gov. Kevin Stitt wrote a letter to President Joe Biden days after Russia invaded Ukraine, urging the administration to embrace domestic oil and gas […]
