In a twist that is perhaps surprising even for the labyrinth of Iraqi politics, the Kurdistan Regional Government (KRG) has found itself blindsided by a delayed parliamentary vote on oil production costs. Despite earlier agreements, the Iraqi parliament opted to hit the brakes on approving the $16-per-barrel production and transport fee proposed in November, throwing yet another wrench into a pipeline that’s been as dormant as the region’s export ambitions for almost two years.
Ovintiv Inc. has completed the divestment of substantially all its assets in the onshore Uinta Basin in Utah to FourPoint Resources LLC for about $2 billion in cash.
US President Donald Trump said he would ask Saudi Arabia and other OPEC nations to “bring down the cost of oil,” casting the push for more crude output as a way to heighten pressure on Russia and help end the nearly three-year war in Ukraine.
Oil fell after President Donald Trump said he’ll push Saudi Arabia and OPEC to reduce the price of crude, reviving a tactic to control energy prices that he frequently employed during his first term in office.
Africa’s biggest crude producer Nigeria has emerged from a years-long output slump due to improved security, creating a quandary for the government.
“Vecino controls enough surface and mineral interests to develop both a gas and liquids storage business rivaling the premier facilities on the Gulf Coast with room for over 50 billion cubic feet of high-deliverability natural gas capacity, over 100 million barrels of liquids storage or a combination thereof”, said a joint statement Tuesday.
Trump on Wednesday widened his threats to include a 10% tariff on China and the EU, two of the world’s largest energy markets. The new threats follow Trump’s plans to impose tariffs as high as 25% on goods from Canada and Mexico, which are major crude suppliers to the US.
Sasol is falling back on coal after encountering obstacles in its plan to pivot to natural gas and green hydrogen in its path to net zero by 2050. The return of Donald Trump — who has promised to help the coal industry — as US president may also dampen some criticism for companies using the dirtiest fossil fuel.
Australian pretoleum exploration and production company Woodside Energy Group Ltd. has reported a slip in quarterly revenue and production amid a seasonal demand drop. The company said in its quarterly report that its Q4 revenue landed at $3.47 billion, 6 percent below the previous quarter.
The EPA usually insists that its rules are not burdensome, but, hey, what would you expect professional regulators to say? So we took note of a newly published study in Science (10 January 2025 issue), an econometric analysis written by researchers from eleven institutions (most of them respectable) with a lead author from Electric Power Research Institute, an electric industry-sponsored institution.