Marathon Oil allocated $1.15 billion to activity in North America for 2016 with the majority focused on the Company’s three U.S. resource...
On June 2, Halcón Resources Corp. reported that on May 26, it was notified that the price of its common stock had...
I am continually analyzing a myriad of data streams in an effort to determine where best to invest in buying oil and...
The West Texas Intermediate (WTI) oil futures are currently trading at around $48 per barrel this morning. Baker Hughes Inc. reported another...
Under threats from President Trump that included steep tariffs, President Gustavo Petro of Colombia has relented and will allow U.S. military planes to fly deportees into the country, after turning two transports back in response to what he called inhumane treatment.
The two leaders had engaged in a war of words on Sunday after Colombia’s move to block Mr. Trump’s use of military aircraft in deporting thousands of unauthorized immigrants.
But on Sunday night, the White House released a statement in which it said that because Mr. Petro had agreed to all of its terms, the tariffs and sanctions Mr. Trump had threatened would be “held in reserve.” Other penalties, such as visa sanctions, will remain in effect until the first planeload of deportees has arrived in Colombia, the statement said.
“Today’s events make clear to the world that America is respected again,” it added.
In his inaugural address, Trump claimed he would reclaim the Panama Canal from Panamanian control, criticizing China's infrastructure involvement and high transit fees for US ships. This follows the canal's transfer to Panama in 1999 after decades of US control.
The canal, completed in 1914 at a cost of $13.5 billion (in today's dollars), was handed over to Panama through treaties signed in 1977. Panama has since invested $5 billion in modernizing the canal, generating $2.5 billion annually in transit fees.
Trump's suggestion of forcibly retaking the canal has been criticized by Panamanian and Chinese officials, who emphasize the canal's status as a neutral international waterway.
U.S. energy firms cut the number of active oil and gas rigs for a third consecutive week, reducing the total by four to 576 as of January 24, the lowest since December 2021, according to Baker Hughes. The rig count is now down 45 rigs, or 7%, from the same time last year.
Oil rigs dropped by six to 472, while gas rigs rose by one to 99. In the Permian Basin, the nation’s largest oil-producing shale region, the rig count fell by six to 298, the lowest since February 2022 and the largest weekly decline since August 2023.
The rig count has declined by 5% in 2024 and 20% in 2023 as lower oil and gas prices pushed energy firms to prioritize debt reduction and shareholder returns over production growth.
Despite potential further declines in crude prices, the EIA projects U.S. crude output will rise from 13.2 million barrels per day (bpd) in 2024 to 13.6 million bpd in 2025. On the gas side, a projected 43% increase in spot gas prices in 2025 is expected to spur higher drilling activity, reversing recent declines. The EIA forecasts gas production will rise to 104.5 billion cubic feet per day (bcfd) in 2025, up from 103.1 bcfd in 2024 and a record 103.6 bcfd in 2023.
Oil futures tallied their first weekly loss in five weeks on Friday as recent comments from President Donald Trump suggested he would pressure major oil producers to boost crude output.
Prices, however, ended slightly higher for the trading session, a day after settling at their lowest in two weeks, as traders continued to weigh uncertainty surrounding the president’s energy policies.
The Osage Minerals Council has taken a firm stand against the Department of Government...
With a polarizing shift in U.S.-Ukraine relations, President Donald Trump and Ukrainian President Volodymyr...
OPEC+ has confirmed that it will proceed with its planned April 2025 oil production...
JON GAMBRELL Associated Press | DUBAI, United Arab Emirates (AP) — Saudi Arabia’s state-owned oil...
Oklahoma lawmakers are looking to revamp bonding requirements for oil and gas producers, aiming...
By Bloomberg |Alex Longley, Jack Wittels| The manager of an oil tanker on fire...
by Bloomberg| Nathan Risser | The trade in fossil fuels across borders peaked in 2017 and is...
As construction, labor, and borrowing costs continue to climb, several U.S. liquefied natural gas...
Oilfield theft has become a major concern in Texas, where the energy industry remains...
LITTLETON, Colorado, (Reuters) – Energy product traders, utilities, investors and business executives are among...
The recent U.S. decision to impose a 25% tariff on steel and aluminum imports...
by Bloomberg|Ari Natter|The Senate voted Thursday to repeal a new US fee on climate-warming methane...
Have your oil & gas questions answered by industry experts.