China has boosted underground storage of natural gas, after it made an...
China has boosted underground storage of natural gas, after it made an early start on preparations for peak demand over the winter. However, the build-up may signal subdued consumption in recent months due to a slowing economy, leaving the country uncommonly well-stocked with fuel.
Mantel pulls in $30M for molten salts-based CO2 capture
Startup Mantel Capture has raised $30 million in a Series A round led...
Startup Mantel Capture has raised $30 million in a Series A round led by Shell and Eni to advance a demonstration project for its novel molten salts-based carbon capture technology. The technology is designed for industrial sites such as refineries where it can potentially capture up to 95% of emissions at the source. "If it's successful, if they're able to deploy in the field, this has the potential to generate a step change" in the cost of carbon capture, said Hector MacQuarrie of Shell Ventures.
Talos Energy has reported an oil and gas find at its Ewing Bank 953 well...
Talos Energy has reported an oil and gas find at its Ewing Bank 953 well in the Gulf of Mexico, with estimated recoverable resources between 15 and 25 million barrels of oil equivalent. Production is projected to begin in 2026, and the company said it expects to connect the well through a tie-back to the nearby South Timbalier 311 Megalodon platform.
Americans come up short in US Open finals. American Jessica...
Americans come up short in US Open finals. AmericanJessica Pegula fell to Belarus’s Aryna Sabalenka 7–5, 7–5 in the women’s final on Saturday, one year after Sabalenka lost in the final to American Coco Gauff. Sabalenka became the sixth woman to win the US Open after losing in the final the previous year and the first to do it since Serena Williams in 2012. One day later, American Taylor Fritz lost 6–3, 6–4, 7–5 to Italy’s Jannik Sinner in the men’s final. Fritz was attempting to become the first American man to win a major title since Andy Roddick pulled it off in 2003.
Venezuelan opposition candidate Edmundo González fled to Spain and was granted political asylum. A warrant had been out for his arrest following July’s disputed presidential election, in which incumbent Nicolás Maduro claimed victory but the US and other democracies consider González the victor.
Major Democratic donors on Wall Street are urging Kamala Harris to replace FTC Chair Lina Khan and SEC Chair Gary Gensler if she’s elected, Bloomberg reported.
U.S Drillers Cut Oil and Gas Rigs for Fourth Week in a Row
According to Baker Hughes ' report on Friday, U.S. energy firms cut...
According to Baker Hughes ' report on Friday, U.S. energy firms cut the number of operating oil and natural gas rigs for the fourth consecutive week, marking the first time this has happened since late June. The total rig count fell by one to 582 in the week ending September 6, the lowest since June. Oil rigs remained steady at 483, while gas rigs decreased by one to 94, the lowest since April 2021.
Oklahoma’s count went from 39 a week ago to 38 in the past week. A year ago, the state’s number of oil and gas rigs actively drilling for new energy sources totaled 39.
One rig was cut in the Denver-Julesburg (DJ) Niobrara Basin, which spans Colorado, Wyoming, Nebraska, and Kansas. This reduced the total to eight, the lowest since June 2021. Meanwhile, two rigs were cut in Pennsylvania, bringing the total down to 16, also the lowest since June 2021.
The total number of oil and gas rigsdropped by about 20% in 2023, following increases of 33% in 2022 and 67% in 2021. This decline is due to lower oil and gas prices, higher inflation costs, and a focus on debt reduction and shareholder returns rather than increased output.
