Tag Archives: United States of America

The total number of active drilling rigs in the United States fell by 11 this week, after seeing a brief 9-rig rise last week, according to new data from Baker Hughes published Friday. It is the fewest number of active drilling rigs since February 4, 2022. The total rig count …

Iraq, OPEC’s second largest exporter, has had its crude oil supplies to the US, the world’s second largest importer, increased, data by the Energy Information Administration (EIA) showed this weekend. In the span of a week, the volume rose from 100,000 barrels daily to a 248,000 barrels — a jump …

The Inflation Reduction Act (IRA) is spurring a land rush for development sites and giving impetus to clean energy equipment manufacturing in the United States, which could see annual renewable capacity additions triple to 110 gigawatts (GW) in ten years, according to Wood Mackenzie. Despite supply-chain and tariff challenges unrelated …

The number of oil rigs operating in the U.S. increased this week for the first time since June as crude prices soared, but drilling remains well below where it was at the beginning of the year. Some 513 drill rigs are operating in the U.S., up one from the previous …

Lukoil PJSC’s trading unit Litasco SA is launching a Mexico operation as the oil giant seeks new markets for Russian products under widespread sanction. Litasco hired oil products trader Yuri Carreno for its new office in Mexico City, according to people with knowledge of the situation. Carreno, who previously spent …

Iraq, OPEC’s second largest exporter, has had its crude oil supplies to the US, the world’s second largest importer, decreased, data by the Energy Information Administration (EIA) showed this weekend. In the span of a week, the volume dwindled from 283,000 barrels daily to a mere 232,000 barrels — a …

Washington has weighed into a dispute between Cyprus and international companies led by Chevron over how to develop a giant offshore gas field, backing the US company’s plan to link it to neighboring Egypt, two industry sources and a US source said on Friday. The Chevron-led consortium proposed connecting the …

Slower U.S. shale growth and persistent underproduction from several OPEC+ producers are set to tighten the oil market further in 2024, Barclays said on Wednesday, hiking its Brent price forecast for next year by $8 to $97 a barrel. “Slowing non-OPEC+ supply growth, driven primarily by the US, and persistent …

Equinor has acquired a 25% interest in Bayou Bend CCS LLC, positioned to be one of the largest U.S. carbon capture and storage projects located along the Gulf Coast in Southeast Texas. Bayou Bend is positioned to be one of the largest CCS solutions in the U.S. for industrial emitters, …

All major U.S. power markets have relied more on natural gas to keep a balanced grid system so far this year. Increased gas-powered generation highlights the fact that the fossil fuel – the single-biggest power generation source in the United States – continues to play a critical role in balancing …