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Last year, the Permian Basin Petroleum Association created a set of recommended practices to combat oilfield crime, incorporating physical, cyber, and operational security measures. Senate Bill 494 aims to combat the theft of petroleum products in Texas by creating a dedicated task force within the Railroad Commission of Texas.
Read more BP to abandon green energy target and ramp up oil Summary : BP will abandon its plan to expand renewable energy generation 20-fold by 2030, scrapping its target of reaching 50 gigawatts (GW) and maintaining its current 8.2 Total petroleum inventories increased by 0.2 GW capacity. Refinery inputs averaged 15.4
Phillips Petroleum Co. , The Court also addressed the nature of the implied duties in oil and gas leases, whether the ambiguity of the underlying agreement precludes class treatment, and the extent to which class representatives may abandon individualized claims in order to preserve class treatment for common claims. In Bowden v.
Industry-Related Issues From the start of the 140-day session, the overall goal of the Permian Basin Petroleum Association (PBPA) has been to support legislation that promotes the safe and responsible development of the natural resources found in the Permian Basin, said PBPA Executive Vice President Stephen Robertson.
House Bill 137 , tracked by the Permian Basin Petroleum Association (PBPA) as detailed below, establishes the Strategic Water Supply Program. Repurposed wells will not be classified as inactive or abandoned unless they cease operations for 12 consecutive months.
After the embargo, the International Energy Agency (IEA) was established, followed by the US Department of Energy and its statistical arm, the Energy Information Administration (EIA), and the Strategic Petroleum Reserve (SPR). Strangely enough, the US abandoned the costly price controls, and liberalized energy markets in the early 1980s.
to become the worlds top oil producer, stealing market share from the Organization of the Petroleum Exporting Countries (OPEC) and other top producers. The Permian basin was the centerpiece of the shale revolution that began nearly two decades ago and spurred the U.S.
In another development, Saudi Aramco, the world's largest petroleum enterprise, has reported a 4.4% www.oilfutures.co.uk year-on-year decrease in its first-quarter revenue compared to that of 2024. Market analysts attribute this decline primarily to the lower oil price environment prevailing during that period.
Hedging will take priority over any plans to increase production, said Kirk Edwards, a former chairman of the Permian Basin Petroleum Association who now runs a small, closely-held oil producer. producers “would need six months of sustained higher prices for the industry to substantially change their activity levels.”
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