The total number of total active drilling rigs in the United States fell by 17 this week, according to new data from Baker Hughes published Friday, after falling by 7 last week. It is the largest single-week drop in the number of oil and gas rigs in the United States …
Read More »US Crude Oil Inventories up 0.6% for Week Ending May 5
US commercial crude oil inventories increased 0.6% during the week ending May 5, according to data released by the Energy Information Administration (EIA) late Wednesday. Inventories rose by around 3 million barrels to 462.6 million barrels, lower than the American Petroleum Institute’s expectation of a rise of 3.6 million barrels. …
Read More »14,000 Inactive Oil & Gas Wells in U.S. Unplugged
A study published in Nature Energy on Monday has revealed that the U.S. Oil Patch is home to tens of thousands of inactive offshore oil and gas wells that remain unplugged, posing the risk of possible leaks into the ocean. The study estimates that whereas plugging and abandoning these wells …
Read More »USA Pipeline Agency Proposes Tougher Safeguard Rule
The USA pipeline safety agency has filed a draft regulation aimed at strengthening industry measures to curb methane emissions and prevent hazards to people and the environment from the country’s nearly three million miles of gas pipelines. The proposal by the Department of Transportation’s (DOT) Pipeline and Hazardous Materials Safety …
Read More »Iraq’s Oil Exports to the United States Decrease, Canada Tops the List
The US Energy Information Administration (EIA) has reported a decrease in Iraq’s oil exports to the United States. According to the administration’s report, Iraq’s average oil exports to the US reached 148,000 barrels per day during the past week, marking a decrease of 74,000 barrels per day compared to the …
Read More »Oil Prices Fall on Fears of US Rate Hike
Oil prices dropped on Monday as jitters over the economic impact of the US Federal Reserve potentially raising interest rates and weaker Chinese manufacturing data were enough to outweigh support from new OPEC+ supply cuts taking effect this month Brent futures for July delivery were down 56 cents, or 0.7%, …
Read More »Top US, S.Korean Nuclear Envoys Discuss Joint Responses to N.Korea’s Nuclear Threats
The top nuclear envoys of the US and South Korea have discussed ways to cooperate on countering North Korea’s “evolving nuclear and military threats,” the South Korean Foreign Ministry said on Sunday, according to local media. US Special Representative for North Korea Sung Kim held a meeting with his South …
Read More »Iraqi Oil Exports to the US Rise while US Crude Oil Imports Decline
Iraqi oil exports to the US increased by an average of 222,000 barrels per day last week, according to a report by the US Energy Information Administration (EIA) released on Sunday. The report, obtained by Shafaq News agency, also revealed that “the average US crude oil imports from nine countries …
Read More »U.S. Stresses Importance of LNG for Europe
Russian President Vladimir Putin belied that his invasion of Ukraine in 2022 would go largely unopposed by the U.S. and its allies for the same reason that he was able to invade the country in 2014 and annex Crimea. That is, that the non-U.S. part of the North Atlantic Treaty …
Read More »US Boosts Support for Developing Countries’ Climate Action with $1bn Pledge
The US is strengthening support for climate action in developing countries by providing $1 billion (£810m) to the Green Climate Fund (GCF). This brings the total US contributions to the GCF to $2 billion (£1.6bn) since 2015. The GCF has approved over $12 billion (£9.6bn) for projects across more than …
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