The Biden Administration plans to offer the minimal possible acreage in a Congress-mandated oil and gas lease sale in the coastal plain of Alaska’s Arctic National Wildlife Refuge, the Bureau of Land Management (BLM) said late on Wednesday. The BLM is required in the 2017 Tax Act by Congress to …
Read More »EIA: Surge in Iraqi Oil Exports to the US
Iraqi oil exports to the United States increased last week, according to the US Energy Information Administration (EIA.) The EIA reported on Sunday that the average US crude oil imports from ten key countries reached 5.647 million barrels per day (bpd) last week, an increase of 640.000 bpd from the …
Read More »US Shale Gas Production Declines for the First Time since 2000
U.S. natural gas production from shale and tight formations, which accounts for 79% of dry natural gas production, decreased slightly in the first nine months of 2024 compared with the same period in 2023. If this trend holds for the remainder of 2024, it would mark the first annual decrease …
Read More »Top U.S. LNG Exports: China’s Gas Demand Is Booming
Chinese demand for natural gas is set to jump by more than 50% by 2040, from 400 billion cubic meters (bcm) now to more than 600 bcm, according to an executive at the top U.S. LNG exporter, Cheniere Energy. “There’s no doubt that gas demand growth in China, in absolute …
Read More »Iraq Exports over 5 Million Barrels of Oil to US in September
The US Energy Information Administration (EIA) announced on Tuesday that Iraq exported more than five million barrels of crude oil to the United States in September. Iraq’s exports of oil to the United States in September reached 5.97 million barrels, representing an increase compared to the country’s oil exports to …
Read More »U.S. Imposes New Sanctions on Iran’s Oil, Petrochemical Sectors
The United States has introduced a fresh wave of sanctions targeting Iran’s oil and petrochemical industries, following Iran’s retaliatory missile attacks on Israeli military and intelligence facilities earlier this month. The sanctions, announced by the U.S. Treasury Department on Friday, are aimed at intensifying financial pressure on Iran, restricting its …
Read More »U.S. Set Record-Highs in Natural Gas Power Generation this Summer
Low natural gas prices, hotter summer weather, and new generation capacity sent U.S. natural gas-fired power generation to a new all-time high this summer, on some days of which gas-fired electricity made up nearly half of total power output. This summer’s record-high was hit on August 2, when America’s natural …
Read More »EIA: Iraqi Oil Exports to US Decline over the week
The US Energy Information Administration (EIA) announced on Sunday that Iraqi oil exports to the US had dropped during the past week. “In a span of a week, the US imports of crude oil from 10 major countries amounted to 5.744 million bpd, up by 343,000 bpd from the previous …
Read More »U.S. Shale Faces Challenges in Electrifying Oilfield Operations
Costs and access to the grid are the main hurdles U.S. oil drillers and producers face as they seek to electrify operations, the latest Dallas Fed Energy Survey showed this week. More than half of the exploration and production firms operating in Texas, northern Louisiana, and southern New Mexico have …
Read More »U.S. Races towards Lithium Independence with Ambitious Mining Projects
Several countries around the globe are investing heavily in the extraction of lithium to support battery production for electric vehicles (EVs) and utility-scale storage. This has led to the enormous growth of mining projects in lithium hubs, such as the Lithium Triangle in South America. It has also encouraged greater …
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