RIYADH: US energy firms last week added oil and natural gas rigs for the first time in 10 weeks due to the biggest weekly increase in gas rigs since October 2016, energy services firm Baker Hughes Co. said in its closely followed report.
The Inflation Reduction Act (IRA) provides incentives for accelerating the rollout of clean energy in the United States and for a surge in green jobs.
Earlier this month, a senior executive from Pioneer Natural Resources predicted higher oil prices later this year. Demand for crude was rising strongly, executive VP Beth McDonald told Reuters last week, but supply was playing catch-up and without much enthusiasm.
Angola’s Ministry of Energy and Water Angola has secured $900 million in loan from the Export-Import Bank of the United States (EXIM) to fund the rollout of two large-scale solar PV projects.
The Biden administration on Friday ordered a 20-year ban on new oil and gas drilling leases within 10 miles of the Chaco Culture National Historical Park in New Mexico, according to multiple reports.
A two-year rally in US oil and gas stocks is coming to a halt as falling crude prices and fears of a slowdown in the world’s biggest economy threaten producers’ ability to maintain bumper shareholder payouts.
Last December I published an article on Oilprice discussing why I thought land drilling contractors would start to rally after the first of the year.
Oil rose on Wednesday after plunging more than 2% in the previous session as reports of falling US crude oil and fuel inventories refocused investors on robust demand in the world’s top oil consumer
U.S. natural gas production is booming. The country is pumping so much of the commodity that prices have dropped to multi-year lows after last year, soaring to over $7 per mmBtu amid the European energy crunch.
Given its geographical positioning, with Saudi Arabia on one side of it and Iran on the other, Qatar has long played a delicate diplomatic balancing act between the two great Middle Eastern powers and their principal superpower sponsors.