Oil edged lower as traders weighed the possible fallout from President Donald Trump’s planned tariffs on major U.S. crude supplier Canada and other countries. The market was also watching reports OPEC will evaluate potential changes to America’s energy policy.
The digiPrime pump, anchored by a 3,000 horsepower Cummins natural gas variable speed engine, is a direct drive solution with outstanding thermal efficiency. The pump configuration translates into reduced fuel costs and is one of the lowest emissions solutions in the completions market.
Management of the Ghana Upstream Petroleum Chamber has paid a courtesy call on the minister for energy and green transition, the honorable John Jinapor to congratulate him on his appointment and to invite him to a roundtable discussion with its members. The team from the Chamber was led by its CEO, David Ampofo.
U.S. producers, mainly shale companies which led a fracking revolution that unlocked vast new supplies of crude from rock, are pumping record amounts of oil, but using fewer rigs to do it after the COVID-19 pandemic crushed prices and spurred a boom in company mergers and new efficiencies.
The ramifications of the Biden administration’s sanctions on Russia’s shadow fleet continue to roil oil markets, with the Brent-Dubai spread traded on ICE Futures expanding to its widest since at least 2015.
Oil prices retreated on Monday after the Trump administration pulled back from sanctions threats against Colombia over illegal immigration, alleviating concern about oil supply disruptions. Washington swiftly reversed plans to impose tariffs and sanctions on Colombia after the South American country agreed to accept deported migrants from the United States.
That’s what Phil Flynn, a senior market analyst at the PRICE Futures Group, told Rigzone in an exclusive interview on Tuesday when asked why the U.S. natural gas price has dropped lately.
Chevron and Engine No. 1 have announced a new partnership to develop scalable, reliable power solutions for U.S.-based data centers running on U.S. natural gas. Early actions of the Trump Administration are setting the critical foundation to encourage investment leveraging America’s energy abundance to enable America’s AI leadership.
ADNOC Logistics and Services (ADNOC L&S) has joined with an Abu Dhabi seaglider operator to introduce REGENT seagliders into its fleet. ADNOC L&S will use the all-electric seagliders to transport people to and from offshore oil and gas infrastructure.
Coterra Energy has completed its previously announced acquisitions consisting of certain assets of Franklin Mountain Energy and Avant Natural Resources and its affiliates for aggregate consideration of approximately $3.9 billion, subject to certain post-closing purchase price adjustments.