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(World Oil) – The AmericanPetroleumInstitute today joined more than 100 other energy trade groups and organizations in urging the Department of the Interior to develop a new five-year offshore leasing program that fully leverages the U.S. crude oil production, or nearly 2 million bopd. According to the U.S.
Continental Resources produced 639,733 barrels of oil equivalent per day (boepd) in 2024, and had a well count of 5,055 and 21 active rigs, the complete list revealed. In 2023, Continental Resources ranked first, Mewbourne Oil was fourth, Aethon Energy was third, Ascent Resources LLC was second, and Hilcorp was sixth, the list highlighted.
It should come as no surprise that the oil and gas industry is attempting to use the current crises of energy security and inflationary prices to its advantage. To that end, the AmericanPetroleumInstitute (API) has released a ten-point plan they deem is responsive to these current events.
Brent Crude $66.90 +0.65% Natural Gas $3.69 -2.62% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS North America Drops More Rigs by Andreas Exarheas | Rigzone Staff | Monday, June 09, 2025 | 10:13 AM EST North America cut two rigs week on week, according to Baker Hughes' latest North America rotary rig count. Of the total U.S.
The current rules were written for a different era” The AmericanPetroleumInstitute welcomed the proposal. Over 30 years, commingling improves oil recovery by 61 percent, and by 21 percent over 50 years, according to the study published September 2023 in the Energy Exploration & Exploitation journal.
Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS North America Rig Count Stays Flat by Andreas Exarheas | Rigzone Staff | Tuesday, June 24, 2025 | 10:11 AM EST The total North America rig count remained unchanged week on week, according to Baker Hughes' latest North America rotary rig count. Of the total U.S. The total U.S.
API 570 Piping Inspection Certification is a globally recognized qualification for professionals responsible for inspecting, evaluating, and maintaining piping systems in the oil and gas, petrochemical, and energy industries.
(Photo: Mario Tama/Getty Images) New Jersey on Tuesday sued five oil and gas companies and a leading fossil fuel lobby group for knowingly lying to the public about the existence of climate change and the role their products play in exacerbating human-caused global heating.
API 580, the global standard for Risk-Based Inspection (RBI), plays a vital role in enhancing safety, reliability, and efficiency in the oil and gas industry. This internationally recognized framework offers a systematic approach to identify, assess, and manage risks related to equipment integrity.
rig count is made up of 432 oil rigs, 109 gas rigs, and six miscellaneous rigs, according to Baker Hughes’ count, which revealed that the U.S. The country’s oil rig count dropped by six, its gas rig count dropped by two, and its miscellaneous rig count increased by one, week on week, the count showed.
API 581 is a globally recognized standard for Risk-Based Inspection (RBI) that offers significant advantages for the oil and gas industry. By implementing API 581, companies can enhance asset integrity, reduce operational risks, and optimize inspection resources.
API 510 plays a critical role in ensuring the safety and integrity of pressure vessel used across the oil and gas, and petrochemical industries. These industries depend on high-pressure systems, where even minor failures can lead to serious risks, operational downtime, or costly damage.
Generally, oil and gas production facilities have accounted for volume losses under the concept of “Fuel, Flare & Losses.” In a recent case, the Louisiana Fourth Circuit Court of Appeal held that processors must also account for gas volume diverted to gas lift operations. In Red Willow Offshore, LLC v.
by Elisabeth Lorio Baer Interior Secretary Ken Salazar informed Congress on September 17, 2009 that he would kill a controversial program, currently in effect, that allows energy companies to pay the government royalties for drilling on public lands in actual oil and gas in lieu of cash. For the full story, see [link]
rig count is made up of 424 oil rigs, 108 gas rigs, and five miscellaneous rigs, according to Baker Hughes’ count, which revealed that the U.S. The country’s oil and miscellaneous rig counts each dropped by one, and its gas rig count remained unchanged, week on week, the count showed. Of the total U.S.
(Investing) – LONDON -Oil prices rose to their highest in seven weeks on Wednesday as U.S. The trade-related downside risk in oil has been temporarily removed, although the market reaction has been tepid as it is not clear how economic growth and global oil demand will be affected, PVM analyst Tamas Varga said. In the U.S.,
Image by maciek905 via iStock Oil climbed in light pre-holiday trading after US President Donald Trump said he had reached a trade deal with Vietnam. Oil’s jump was probably amplified by low liquidity ahead of Friday’s July Fourth holiday in the US. Oil Prices WTI for August delivery rose 3.1% million barrels.
Image by Igor Kutyaev via iStock Oil edged higher, paring earlier gains, after the White House said President Donald Trump would decide within two weeks whether to strike Iran, reducing speculation that the US would plunge into the conflict imminently. Oil Prices WTI for July delivery, which expires on Friday, was up 0.9% in New York.
(Investing) –LONDON – Oil prices extended declines on Wednesday and were set for their largest monthly drop in almost three and a half years as the global trade war eroded the outlook for fuel demand while concern over mounting supply also weighed. crcrude oil inventories rose by 3.8 a barrel by 1305 GMT. API/S] U.S.
(Investing) –HOUSTON -Oil prices ticked higher on Tuesday but remained near four-year lows as recession fears exacerbated by trade conflict between the United States and China, the worlds two biggest economies offset a recovery in equity markets. crude oil and distillate inventories were expected to have risen last week by about 1.6
Recientemente, el AmericanPetroleumInstitute (API) critic las polticas del nuevo gobierno de Claudia Sheinbaum, en particular el control de precios en combustibles, alertando que podran afectar a las empresas privadas del sector energtico. han expresado inquietud sobre el cumplimiento de Mxico con los compromisos del acuerdo.
oil and gas industry is working to put forward policy roadmaps to encourage a robust, competitive American energy sector. New comments and policy plans from the Independent Petroleum Association of America, the AmericanPetroleumInstitute, the National Ocean Industries Association, and the American.
oil producers will meet with President Donald Trump next week, leading industry group the AmericanPetroleumInstitute said on Wednesday. Among the topics for discussion are tariffs, trade and exports of liquefied natural gas, an industry source told Reuters.
(Investing) –Oil prices retreated Thursday, handing back earlier gains after data showed the U.S. At 09:15 ET (13:15 GMT), Brent oil futures for July fell 0.7% At 09:15 ET (13:15 GMT), Brent oil futures for July fell 0.7% oil inventories shrank by 4.24 oil inventories shrank by 4.24 a barrel.
(World Oil) – The U.S. oil and gas industry. .’ oil and gas industry. “We We applaud the Senate for passing the One Big Beautiful Bill to bolster America’s energy advantage and support economic growth,” said AmericanPetroleumInstitute (API) President and CEO Mike Sommers.
(World Oil) –Leaders from the National Ocean Industries Association (NOIA), AmericanPetroleumInstitute (API) and the Independent Petroleum Association of America (IPAA), issued statements today in support of the U.S. House of Representatives passage of the 2025 tax reconciliation bill.
watch now VIDEO 4:23 04:23 Electricity prices will continue to climb as Senate tax bill routs solar stocks: Oppenheimer's Rusch Fast Money President Donald Trump's One Big Beautiful Bill Act ends long-standing federal support for solar and wind power, while creating a friendly environment for oil, gas and coal production.
(Investing) – NEW YORK – Oil prices fell about 2% to a two-week low on Tuesday on expectations OPEC+ will boost output even as U.S. imports, stoking a trade war between the top two oil-consuming nations. That has prompted analysts to sharply lower their oil demand and price forecasts. OIL INVENTORIES U.S.
January 20, 2025 Edition At Valor, our goal is to keep you informed of the latest news and updates from the oil and gas industry. Global review of 2024 oil and gas discoveries Summary : In 2024, global oil and gas discoveries were reviewed, detailing key findings by region, resource type, operators, and terrain, compared to 2023.
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