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A supertanker carrying 2.1 million barrels of Russias Far Eastern ESPO crude grade has been anchored near China for days in what traders say is an unusual pattern that could suggest weaker demand in the Asian market. The Big Star supertanker loaded ESPO from three smaller vessels near Russias Zarubino port in the Far East earlier this month and headed to Chinas port of Jieyang in the southern province of Guangdong, according to ship-tracking data from LSEG cited by Reuters.
In February, MDN told you about a proposed new bill in Ohio, House Bill (HB) 15, which makes significant changes to state energy policy to encourage the development of more in-state electric generation by making it easier (and more cost-effective) to build gas-fired power (see OH Legislators, New Bill, Encourage More Gas-Fired Power Plants). The.
This weekend, OPEC+ may debate boosting oil production in July by more than the 411,000-bpd monthly hikes it has announced for May and June, sources with knowledge of the discussions at the production group told Reuters on Friday. For two months now, OPEC+ has been pursuing a policy to unwind the production cuts by monthly volumes triple that of the original plans, and the eight countries doing the cuts have decided to boost May and June oil production by 411,000 barrels per day in each of the t
Electricity bills across Pennsylvania (and elsewhere in the PJM grid) are due to increase on June 1, when utilities reset a portion of their charges to reflect the current cost of energy. The increases reflect the rising cost of power on the regional transmission grid.
U.S. crude oil production surged to an all-time high in March, reaching 13.488 million barrels per day, according to newly released monthly EIA data. That edges out the previous monthly record of 13.450 million bpd set in October 2024, and an increase over the 13.153 million bpd in February. The increase reflects steady momentum from the Permian and Gulf Coast operatorseven as drilling activity slows elsewhere.
Yesterday, the U.S. Supreme Court ruled that federal agencies conducting environmental reviews under the National Environmental Policy Act (NEPA) must consider only the direct effects of a project rather than its broader impacts. The 8-0 ruling (highly unusual for a unanimous decision) follows years of lower courts demanding broader consideration of the effects of projects.
I predict that the world economy will shrink in the next 10 years. I think that this is bound to happen because of energy and debt limits the world economy is hitting. There are a variety of other factors involved, as well. In this post, I will try to describe the physics-based limits that the economy is facing, related to diminishing returns of many kinds.
For the week of May 19 – 25, the number of permits issued to drill new wells in the Marcellus/Utica was down seven from the previous week. Last week, 24 new permits were issued in the M-U. In the Keystone State (PA), just four new permits were issued, all of them going to Expand Energy.
For the week of May 19 – 25, the number of permits issued to drill new wells in the Marcellus/Utica was down seven from the previous week. Last week, 24 new permits were issued in the M-U. In the Keystone State (PA), just four new permits were issued, all of them going to Expand Energy.
In April this year, Chinas BYD hit a first--it sold more cars in Europe than Tesla. Of course, one reason for this was EV fans reaction to Elon Musks political endeavors, but another was that BYDs EVs were simply better and more affordable. And now Western carmakers want to learn from BYD and other Chinese sector players how to make their electric cars more attractiveand affordablefor buyers.
Big Green is NOT happy with the prospect that New York Governor Kathy Hochul is rumored to have “caved” and traded approvals for two natural gas pipelines—the Constitution and Northeast Supply Enhancement (NESE)—in return for building a $5 billion boondoggle wind farm off the coast of Long Island. As we reported today in a related.
This year, the world will generate more nuclear energy than ever before. The market, technology and policy foundations are in place for a new era of growth in nuclear energy over the coming decades, the International Energy Agency (IEA) wrote in a report published last month. Its clear today that the strong comeback for nuclear energy that the IEA predicted several years ago is well underway, with nuclear set to generate a record level of electricity in 2025, stated IEA Executive Director Fatih
Did you know that there are eight LNG export terminals currently in operation in the U.S. with a combined export capacity of 14.43 billion cubic feet per day (Bcf/d)? There are another eight LNG projects currently approved and under construction with a combined additional capacity of 17.43 Bcf/d. That’s right, all of the facilities under.
The total number of active drilling rigs for oil and gas in the United States fell yet again this week, according to new data that Baker Hughes published on Friday, following a 10-rig decrease last week, and a 6-rig decrease the week before that. The total rig count in the US fell by 3 to 563 rigs, according to Baker Hughes, down 37 from this same time last year.
Oil drifts ahead of Opec this weekend. Arrow are in a very strong position and PetroTal has restarted the buy back And Petro Matad have a non-payer, trouble is its PetroChina. The post Oil price, Arrow, PetroTal, Petro Matad. And finally… appeared first on Malcy's Blog.
EOG Resources is making a bold northeast push, announcing Friday it will acquire privately held Encino Acquisition Partners for $5.6 billion, including debt. The move positions EOG as a dominant Utica shale player, with 1.1 million net acres and 275,000 boe/d in combined production. The seller, Encino Energy, backed by the Canada Pension Plan Investment Board, controls 675,000 net core acres in the playmost of it contiguous and liquids-rich.
The European Union says China, including Hong Kong, is responsible for "approximately" 80 percent of the circumventions of sanctions against Russia even though Beijing continues to deny it. According to a classified report by the German Foreign Ministry, seen by German newspaper Sueddeutsche Zeitung and the state television networks NDR and WDR, EU sanctions commissioner David O'Sullivan told a meeting in Brussels earlier this month that, while sanctions have a significant impact on Russia's eco
CALGARY – The CEO of Crown-owned pipeline operator Trans Mountain Corp. says it could take on other market-expanding pipeline projects if necessary, but that it would be preferable for the private sector to take the lead.
U.S. gasoline consumption over Memorial Day weekend, the start of the U.S. driving season, rose by 2% from the same weekend last year as consumers took advantage of lower prices at the pump. The higher demand at the start of the summer driving season suggests good profits for the U.S. oil refiners that make the fuel, at least for now. The lower gasoline prices compared to last year gives a big push up to U.S. gasoline consumption.
In response to today’s announcement that EOG Resources would acquire Encino Acquisition Partners for $5.6 billion , Andrew Dittmar, principal analyst at Enverus Intelligence Research provided this commentary explaining the deal’s significance: “After going nearly a decade without making a major acquisition, EOG has finally taken the plunge in M&A markets with its acquisition of Encino Acquisition Partners for $5.6 billion, inclusive of Encinos net debt.
President Kassym-Jomart Tokayev is trying to position Kazakhstan as a leading advocate for changing the architecture of international relations in ways that give middle powers a greater say in global affairs. In an opening speech at the May 29-30 Astana International Forum, Tokayev offered a full-throated endorsement for a return to a global order rooted in multilateralism.
(BOE Report) –CALGARY Strathcona Resources Ltd. has begun its formal takeover bid for fellow oilsands producer MEG Energy. Its offer comprises 0.62 of a common share of Strathcona and $4.10 in cash for each MEG share it doesnt already own. The offer is open until Sept. MEG says its board and legal and financial advisers will consider the offer, and that a special committee of independent directors will assist.
Libyan authorities have arrested three suspects accused of breaking into the headquarters of the National Oil Corporation (NOC), the Attorney General's Office said shortly after the eastern government warned it could declare force majeure on oilfields and oil export terminals. Representatives of a militia broke earlier this week into the NOC headquarters in Tripoli, and demanded that they be given jobs protecting the building.
(Oil & Gas 360) – Publisher’s Note: EOG Resources will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown , August 17-20, 2025. Register to attend. HOUSTON, May 30, 2025 /PRNewswire/ EOG Resources, Inc. ( EOG ) today announced a definitive agreement with Canada Pension Plan Investment Board (CPP) and Encino Energy under which EOG will acquire Encino Acquisition Partners (EAP or Encino) for $5.6 billion, inclusive of EAPs net debt.
There was a time when Libya's internal chaos lit up the radar in Washington, Moscow, Ankara, and Brussels. Not anymore. In 2025, the country is in the middle of an undeclared but escalating civil war, and no one with real leverage is rushing in to break it up. Instead, they're recalibratingcautiously hedging their bets as oil flows continue and proxy advantages are rebalanced.
This weeks Baker Hughes Rig Count shows that the U.S. decreased by 3 over last week, resulting in a total count of 563 rigs. Canada had a decrease of 2 over last week, resulting in a total Canadian count of 112 rigs. Breakdown by region Of the regions tracked by Baker Hughes, only the Eagle Ford region experienced an increase this week. Meanwhile, 5 regions experienced a decrease this week: The Ardmore Woodford is at 3, down 1.
Tankers carrying Iranian crude to China are turning off their trackers, Kpler has reported, as cited by Bloomberg, as the threat of new U.S. sanctions looms large despite ongoing nuclear deal negotiations. Ship-to-ship transfers have been used to mask the origin of those cargoes, a Kpler analyst told the publication. Now theyre switching signals off for longer, so that its now even harder to trace those flows back to the source, which is Iran, Muyu Xu also said.
(World Oil) – Exxon Mobil Corp. said it will be business as usual in its massive Guyana oil field if it loses its arbitration case against Chevron Corp. and Hess Corp. Exxon remains confident it will prevail in the case over the fields ownership at the International Chamber of Commerce, Neil Chapman, Exxon’s senior vice president , said at the Bernstein Strategic Decisions Conference in New York on Thursday.
China has waived a short-lived 125% tariff on U.S. ethane imports, but American shipments to China could be hindered by a U.S. requirement of export licenses. Ethane, a natural gas liquid primarily extracted from raw natural gas during processing, is mainly used as a feedstock for ethylene production, one of the most important building blocks in the petrochemical industry.
(World Oil) –Chevron Corp. plans to lay off nearly 800 employees in the Permian basin, its biggest oil-production operation globally. The bulk of the reductions will come from Chevrons Midcontinent campus on the outskirts of Midland, Texas, the company said in a filing with the Texas Workforce Commission. The filing listed the layoff date as July 15, 2025.
Defying Lower Oil Prices, Saudi Aramco Goes on Borrowing Spree - Saudi Arabias national oil company, Saudi Aramco, is seeking to borrow more from the financial markets to meet its investment needs, having raised $5 billion this week in its first dollar-bond sale of 2025. - The companys net debt rose to its highest since 2022 as of April 2025, up 18% quarter-on-quarter to 25 billion, although Aramcos gearing ratio remains relatively low at 5.3%, a fraction of BPs more than 25%.
(Oil Price) –Crude oil and natural gas investments in Colombia could rise to $4.68 billion this year, from $4.33 billion in 2024, the countrys oil and gas industry association said, adding that this will not lead to higher production. Today more investment is required to produce the same amount of oil, due to the natural depletion of the fields and the complexity of the operating environment, the president of the Colombian Oil and Gas Association said, as quoted by Reuters.
The European Commission considers allowing European Union countries more flexibility in reaching a 90% emissions cut target by 2040, diplomats told Reuters on Friday, amid growing backlash against the too stringent EU climate policies. In early July, the European Commission is set to propose a 2040 climate target that would include cutting greenhouse gas emissions by 90% by 2040 compared to 1990 levels, according to Reuters sources with knowledge of the talks.
Join The Energy Co-op at our Annual Member Meeting and Conference. Who: Members and Friends of The Energy Co-op Where: The Inn at Swarthmore, Swarthmore, PA When: Saturday, June 9th, 8:30am 2:00pm What: The Annual Member Meeting and Conference brings together Co-op members, members of the community and representatives from other Co-ops and other organizations working on sustainable development in PA followed by the Co-op membership meeting.
Politics, Geopolitics & Conflict Ukraine is protesting Russia's construction of power lines to the occupied Zaporizhzhia nuclear plant, a move Kyiv says solidifies annexation. The UN insists theres no immediate nuclear threat. The IAEA says there are no indications that Russia is gearing up to restart the nuclear plant, but clear preparations to hook the plant up to Russias own grid, stealing Kyivs power in a continuation of the weaponization of energy.
CALGARY, Alberta (May 28, 2025) Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, has published the latest installment in its quarterly report series tracking developments in U.S. carbon capture and sequestration (CCS) initiatives. This new report provides a comprehensive update on the expanding roster of Class VI wells, highlighting recent permit applications, status changes, approvals
India is exporting more diesel on the east of Suez route into Southeast Asia in May, with shipments to the region on track for a four-year high, Reuters reported on Friday, quoting vessel-tracking data and trade sources. India is estimated to have shipped 600,000 metric tons, or 4.47 million barrels in total, to Southeast Asia in May, according to data from tanker-tracking services Vortexa, LSEG, and Kpler.
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