“President Trump is trying to lower inflation, and lowering energy prices is the crux of that strategy,” said Simon Wong, an analyst at Gabelli Funds. Subdued inflation would empower the Federal Reserve to cut interest rates, which would allow Trump to refinance trillions in debt at reduced rates, he added.
Oil executives had identified efforts by New York and other states to penalize the industry for its greenhouse gas emissions and contributions to climate change as a top concern during a meeting with the president at the White House last month, according to people familiar with the matter. It’s an example of how the industry is getting much of what it wants from the administration, even as Trump’s global tariffs have triggered a sharp drop in crude prices over the past week.
Ambassadors from the bloc’s 27 member states will meet in Brussels on Friday to sign off on a joint push for a 10 percentage-point deviation until 2027 from rules that require tanks to be 90 percent full by winter. If their position is agreed soon with the European Parliament in upcoming talks, the new regulations could come into effect before the next heating season.
The Office of Gas and Electricity Markets (Ofgem) has appointed British Gas to take on supplying Rebel Energy Supply Ltd’s 84,000 domestic customers and 6,000 non-domestic customers. This follows a competitive process run by Ofgem to get the best deal possible for customers, it said in a media release.
World markets soared on Thursday, with Japan’s benchmark jumping more than 9%, as investors welcomed US President Donald Trump’s decision to put his sharp tariff hikes on hold for 90 days, though he excluded China from the reprieve.In early trading, Germany’s DAX initially gained 5.6% to 20,776.76, while France’s CAC 40 in Paris gained 5.4% […]
Crude oil inventories in the United States saw an increase of 2.6 million barrels during the week ending April 4, according to new data from the U.S. Energy Information Administration released on Wednesday.
Oil and gas companies are looking to get the most bang for their buck in exploring for hydrocarbon resources.
Those lucky enough to have made an early bet on what are now the huge frontier plays, such as Guyana, are seeing exploration expenditures and efforts pay off with large oil and gas discoveries.
Aramco, Sinopec and Yasref have signed a venture framework agreement for a major expansion at the Yasref petrochemicals complex in Yanbu, Saudi Arabia, the companies announced on Wednesday.
Shell PLC has put onstream a second tieback to the Appomattox production hub in the Gulf of America.
Dover, discovered 2018 in the deepwater Norphlet play, contributes 20,000 barrels of oil equivalent a day (boed) at peak, according to a statement Tuesday on the British energy giant’s United States website. Shell owns 100 percent of Dover through Shell Offshore Inc.
The angry mutterings at the Permian Basin Petroleum Association’s “Spring Swing” golf tournament this week weren’t all about missed putts or lost balls. The Texas oilmen on the fairways had a more serious concern: The president they helped elect was tanking oil prices.