The Biden administration advanced a plan to limit oil drilling and infrastructure across more of Alaska’s National Petroleum Reserve, a bid to lock in land protections and conservation requirements days before President-elect Donald Trump takes office.
West Texas Intermediate was up almost 2% for the week, even after retreating below $78 a barrel on Friday. The Biden administration’s harshest ever curbs on Russian oil have shaken up markets, with freight costs rocketing and long-standing buyers of the country’s crude, including China and India, looking elsewhere for supplies.
The US risks forfeiting a global competition to dominate artificial intelligence if it doesn’t build more reliable, always-on electricity to supply the industry, President-elect Donald Trump’s pick to lead the Interior Department warned Thursday.
Devon Energy Corp. has promoted John Raines as Senior Vice President for Exploration and Production Asset Management. The company said in a media release it has also named Trey Lowe as Senior Vice President and Chief Technology Officer.
The Alpha platform, which feeds into natural gas export streams to Europe, restarted on Saturday evening, operator BP said in an emailed statement. Alpha will take a few days to reach normal production and export levels after halting earlier this month. A second platform, Bravo, was unaffected.
KBR Inc. has been contracted by BP International Limited (BP) to deliver engineering, procurement, and construction management (EPCM) services for three years with an option for an additional two years. In a media release, KBR said the scope of work includes EPCM services for onshore, offshore, greenfield, and brownfield conventional energy projects and new energy sector projects worldwide.
The oil and gas explorer and producer added, “In recent years, CNOOC Limited has been continually tapping the resource potentials of the Yinggehai-Qiongdongnan Basin, to fully utilize the existing production facilities and thereby reduce the development cost of new projects”.
The Katmai West #2 well was drilled significantly under budget and ahead of schedule to a true vertical depth of approximately 27,000 feet, Talos said in a news release. The well “encountered the primary target sand full-to-base with over 400 feet of gross hydrocarbon pay and excellent rock properties in line with pre-drill expectations,” the company stated.
Europe remains vulnerable to possible shocks in natural gas supply as its exposure to LNG trading and supply has grown, Stefano Venier, CEO of one of Europe’s biggest gas grid operators, Italy’s Snam, said at the end of last year.
The battery storage plant in Moss Landing in northern Monterey County is some 77 miles south of San Francisco. The owner of the plant is Texas-based company Vistra Energy, whose shares fell in market pre-trade on Friday following the news of the fire.