Chevron and European firms lobby for the retention of stakes in Venezuelan oil joint ventures
Three sources familiar with the situation said that the U.S. oil company Chevron and several European firms are currently in discussions with the Trump Administration to get permission to retain their stakes in joint-ventures with Venezuela's PDVSA.
US accelerates oil and gas land parcel review for federal leasing
Interior Department announced on Tuesday that the Trump administration would reduce the time required to review land parcels for oil and natural gas development on federal lands by half. The new process will take six months. The decision…
Russell: Trade truce will not revive China's energy imports from the US
Markets have welcomed the move by China and the United States to negotiate and reduce tariffs, but this will not do much to restore trade in energy commodities. In a truce that will last 90 days, the United States will lower its tariffs…
Kayne Anderson raises $ 2.25 billion for the third Energy Income Fund
Kayne Anderson announced that it has closed its third Energy Income Fund with $2.25 Billion of capital committed. This is far more than the initial target, as investors have shown renewed interest in oil and gas assets. According to a Kayne Private Energy Income Fund III statement…
Russell: Trade truce will not revive China's energy imports from the US
Markets have welcomed the move by China and the United States to negotiate and reduce tariffs, but this will not do much to restore trade in energy commodities. For a period of 90 days, the truce will see the United States lowering its tariffs…
Equinor could cancel New York offshore project due to Trump's order
Developer of major U.S. off-shore wind project warns that it will cancel Empire Wind facility near the coast of New York, if they cannot resolve a stop-work order from the Trump administration issued a month ago. Molly Morris is the president of Equinor's U.S. renewable energy division.
Equinor Might Cancel New York Offshore Wind Project Over Trump Stop-Work Order
The developer of a major U.S. offshore wind project warned that it will cancel the Empire Wind facility off the coast of New York if it cannot reach a resolution over a stop-work order issued by the Trump administration in the coming days.Molly Morris, president of the U.S.
Texas Pacific Land misses its core profit forecast for the first quarter due to lower oil prices
Texas Pacific Land, a land and royalty company focused on the Permian region, missed Wall Street's expectations for its first-quarter core profits on Wednesday as lower oil prices offset increased production. Brent crude futures dropped…
Industry leaders claim that despite volatility, US Gulf oil production could reach 2.4 millions bpd.
Leaders in the oil and gas sector said that the U.S. Gulf of Mexico could continue to grow oil production despite geopolitical instability not seen for decades. Since last month, U.S. President Donald Trump’s global tariff announcements contributed to a drop in oil prices…
US to revise offshore oil and natural gas bonding rules era Biden
The Trump administration is revising a Biden era rule which required the oil and natural gas industry to provide new financial guarantees of nearly $7 billion to cover the costs of decommissioning older infrastructure. This was announced by the Interior Department on Friday.
Trump administration sues Hawaii and Michigan to block planned lawsuits on climate change
The Trump administration sued Hawaii and Michigan in an attempt to prevent them from suing major oil companies for their role in climate changes. They accused the Democratic-led state of overreach, and threatening domestic energy production. A lawsuit has not been filed by either state.
The Trump administration sueded Michigan to stop a planned climate change lawsuit
The Trump administration sued Michigan to stop it from suing oil companies for their role in climate change. They claimed that the Democratic-led Michigan was blocking domestic energy production. In a late-night lawsuit filed in Michigan, the U.S.
Tenaris posts dip in quarterly net sales
Tenaris, an Italian steel pipe manufacturer, announced on Wednesday a 15% drop in its first-quarter sales to $2.92 Billion. The company reported that the sales were boosted by higher seasonal volumes in Canada, and increased onshore sales in United States.
Prices of gas in Europe are falling as the warm weather reduces demand
The Dutch and British wholesale prices of gas eased Tuesday morning. They traded in a narrow band as the warm weather reduced heating demand. The benchmark Dutch front month contract fell 0.23 euros to 31.62 euro per megawatt-hour (MWh), which is $11.50/mmBtu by 0826 GMT.
RWE has ceased offshore wind activity in the United States
RWE's CEO stated in a speech draft published in advance of the annual general meeting that the company has temporarily halted its offshore wind activities in the United States due to the regulatory uncertainty caused by the Trump administration.
Trump's emergency move is aimed at cutting approval time for energy projects from 28 days to 28
The Trump administration announced on Wednesday that it would implement a process of emergency permitting for energy and mining on federal land, cutting approval times from months or even years down to just 28 days. The U.S. Department of…
Shell completes survey of Venezuelan gas field as winding down of license approaches
Shell, the oil and gas company, plans to finish a marine survey of the offshore Dragon gas field in Venezuela before the May deadline set by the United States to close all energy licenses in the country. According to LSEG vessel tracking data…
Chevron announces the first oil production at Ballymore Project in US Gulf
Chevron announced on Monday that it had begun oil and gas production in the U.S. Gulf of Mexico. This brings the company closer to its goal of increasing production by 50% from the ocean basin this year. Ballymore is a $1.6 billion project located 160 miles south of New Orleans.
Trump Administration kicks off plan to expand offshore drilling
The U.S. The U.S. Donald Trump ordered the government to find ways to increase U.S. oil production. He argued that previous administrations had curtailed drilling unnecessarily to combat climate changes. He also rescinded the efforts of…
Trump's order to stop NY wind project shocks offshore industry and threatens other projects
The Trump administration’s decision late Wednesday to halt the construction of Equinor’s Empire Wind 1 off the coasts of New York sent shockwaves throughout the offshore wind industry. It raised concerns that fully permitted developments worth billions of dollars are not secure.
