Industry & Analysis
News
July 26, 2024
Leading national energy associations have expressed strong backing for the Energy Permitting Reform Act of 2024, introduced by Senate Energy & Natural Resources Chairman Joe Manchin (I-WV) and Ranking Member John Barrasso (R-WY).
News
July 25, 2024
Energy Workforce & Technology Council President Tim Tarpley released a statement regarding the Energy Permitting Reform Act of 2024, introduced by Senate Energy & Natural Resources Chairman Joe Manchin (I-WV) and Ranking Member John Barrasso (R-WY).
News
Texas regulator highlights problems in federal orphan well plugging program in testimony to Congress
July 25, 2024
Earlier this week, Texas Railroad Commissioner Jim Wright testified before the U.S. House Committee on Natural Resources, where he spoke in favor of bipartisan legislation to provide states with more flexibility to utilize the orphan well plugging funds provided to states under the Infrastructure, Investment, and Jobs Act.
News
July 25, 2024
Through the transaction, H&P will increase its Middle East rig count from 12 to 88 rigs, 71 of which are in Saudi Arabia, Oman and Kuwait. Based on award activity to date, the pro forma company would be one of the larger rig providers in the Middle East.
News
July 25, 2024
In tweets and campaign memos, Republican are resurfacing Harris’ previous anti-fracing stance to show how out of touch with voters in politically important states such as Pennsylvania.
News
July 24, 2024
Prices for natural gas would “skyrocket” if fracing was banned. That’s according to Toby Rice, chief executive officer of shale driller EQT Corp., marking one of the first prominent voices in the fossil fuel industry to comment on the election after President Joe Biden said he would end his candidacy.
News
July 23, 2024
Saudi Aramco, which had previously been in talks to purchase a stake in Tellurian, is another potential partner, said Saul Kavonic, an energy analyst at MST Marquee in Sydney. Abu Dhabi National Oil Co., as well as Japanese buyers and U.S. infrastructure players, could also invest in Driftwood, he said.
News
July 23, 2024
Other highlights of Senator Joe Manchin's Energy Permitting Reform Act of 2024 include new limits on federal agency timelines to make project decisions. It also would require annual lease sales for both offshore wind and oil projects and expedite approval of electric transmission lines, according to a summary.
News
July 22, 2024
U.S. oil and gas trade groups, including the Independent Petroleum Association of America (IPAA) and the National Ocean Industries Association (NOIA) released statements after Senate Energy & Natural Resources Committee Chairman Joe Manchin (I-WV) and Ranking Member John Barrasso (R-WY) introduced the permitting reform package, the Energy Permitting Reform Act of 2024.
News
July 22, 2024
SK E&S, a South Korean energy producer with operations in the U.S., has entered into a significant multimillion-dollar agreement to support energy research at the Hamm Institute for American Energy at Oklahoma State University.
News
July 22, 2024
Woodside is targeting a final investment decision for the first phase of the Driftwood project from the first quarter of 2025. If all four phases are completed, the Louisiana facility would be able to export 27.6 million tons a year — almost triple Woodside’s current capacity and nearly 6% of the global total at the end of last year.
News
July 21, 2024
Petroleum production in the waters between the UK and Norway peaked some 20 years ago. Yet the offshore industry still supports more than 200,000 jobs and adds billions of pounds to the nation’s GDP, giving it serious economic weight even in its twilight years.
News
July 21, 2024
National Ocean Industries Association (NOIA) President Erik Milito released a statement in response to President Joe Biden's announcement that he will not seek reelection and will instead endorse Vice President Kamala Harris.
News
July 21, 2024
FTC investigators are looking for evidence of executives attempting to collude with OPEC officials on oil market dynamics, according to people familiar with the matter who asked not be named discussing non-public information. Such communications, particularly on pricing and output, could be illegal under U.S. antitrust laws.
News
July 21, 2024
Colombian driller EcoPetrol could end up acquiring an even larger stake, up to 49%, in the assets Occidental agreed to buy from CrownRock LP for $12 billion in late 2023. This option expires in August, according to a filing.
News
July 21, 2024
Major oil field service companies are pivoting to more work in international and offshore fields amid a slowdown in U.S. shale activity brought on by industry consolidation, low natural gas prices and pressure to keep spending muted and return profits to shareholders.
News
July 18, 2024
The group led by Saudi Arabia and Russia agreed last month to begin gradually restoring roughly 2.2 MMbpd of halted crude oil production from October. When prices immediately slumped, officials stressed that a committee due to gather on Aug. 1 could postpone the hike if necessary.
News
July 17, 2024
With such an overwhelming response, the excitement for the awards ceremony is higher than ever. World Oil invites you to join us on October 9, 2024, at the luxurious Post Oak Hotel in Houston, Texas, for a night of celebration, networking, and recognition of industry excellence.
News
July 16, 2024
The Bureau of Land Management (BLM) announced it is seeking public opinion on whether or not to expand so-called “protected” areas in Alaska’s National Petroleum Reserve (NPR-A). If enacted, the measure would expand on the Biden administration’s recent ban on new oil and gas drilling projects in the region.
News
July 15, 2024
ConocoPhillips received a second information request from the U.S. Federal Trade Commission (FTC) regarding its proposed acquisition of Marathon Oil. Both companies received the requests on July 11 and are collaborating with the FTC to review the merger.
News
July 11, 2024
In June 2024, the U.S. oil field services sector experienced an increase in job gains, with a gain of 968 jobs. In total, the energy services sector currently supports 647,636 jobs across the United States. For the first time in 2024, employment growth outpaced 2023’s growth by almost 450 jobs.
