US Oil Drillers See Sharp Decline in Activity
The total number of active drilling rigs for oil and gas in the United States fell yet again this week, according to new data that Baker Hughes published on Friday, following a 3-rig decrease last week, and a 10-rig decrease the week before that.The t…
Brussels Moves Ahead with 2027 Russian Gas Exit Strategy
Europe’s failure to put long-term international security interests above short-term economic benefits over Georgia in 2008 and over Ukraine in 2014 was key in encouraging Russian President Vladimir Putin to launch the full-scale invasion of Ukraine o…
OPEC+ Reloads for Another Showdown With U.S. Shale
This week, media reports said OPEC+ could announce yet another bigger than initially planned production hike at its next meeting. On the face of it, the goal is getting quota laggards Iraq and Kazakhstan in line. The other goal, according to a new Reu…
Trump Tariffs and Low Oil Prices Hit U.S. Energy Deals Hard
After two years of booming activity, the merger and acquisition space in the U.S. has slowed down significantly. Buyer are turning their attention from quantity to quality and focusing on extracting as much value from deals they made previously. Also,…
India’s Oil Imports From Russia on Track for 10-Month High
India is on track to import nearly 1.8 million barrels per day (bpd) of crude oil from Russia in May, which would be a 10-month high, according to vessel-tracking data by Kpler.Indian refiners have increased buying activity for lighter Russian grades,…
Tariffs Can’t Stop the U.S. LNG Boom
Developers of U.S. LNG export projects have started taking final investment decisions on new facilities this year, with several plans expected to add in 2025 to Woodside’s Louisiana LNG approval, despite rising construction costs due to President Tru…
US Oil Drillers Continue To Back Off As Prices Languish Below Breakevens
The total number of active drilling rigs for oil and gas in the United States slipped again this week, according to new data that Baker Hughes published on Friday, following a 6-rig decrease last week.The total rig count in the US fell by 6 to 578 rig…
Strong U.S. Refining Chain Critical to Break China’s Control of Rare Earths
The U.S. has been looking for years to break free from China’s dominance in critical minerals and rare earth elements—with little success so far.The Trump Administration has made American production and refining of critical minerals and rare earths …
The Next Big Shale Boom Could Be North of the Border
The Permian Basin has been the star of the U.S. shale oil and gas industry for years. But this star is, at least for the time being, dimming as production costs rise with the natural depletion of top-quality acreage. But there is another formation tha…
Halliburton, Schlumberger Brace for the Next Oil Slump
U.S. oilfield service majors had a good run after the pandemic lockdowns ended. Demand for oil rebounded strongly, drillers drilled more, and even the climate-focused energy policies of the Biden administration could not ruin that. Now, a price rout t…
US Oil Drillers Slow Activity As Prices Hurt, Even in Permian
The total number of active drilling rigs for oil and gas in the United States slipped this week, according to new data that Baker Hughes published on Friday, following a 3-rig decrease last week.The total rig count in the US fell by 6 to 578 rigs, acc…
Oil-Rich Alberta Could Vote to Separate from Canada
Alberta could vote next year on whether to separate from Canada if a citizen-led petition gathers the requisite number of signatures requesting such a question to be put to a referendum.That’s what Danielle Smith, the Premier of the Alberta province,…
Revenue Shock Looms for Kazakhstan Despite Strong Oil Output
Kazakhstan’s national oil company KazMunayGas (KMG) says it is fully prepared to navigate recent oil price volatility, even as global benchmarks hit new lows and concerns mount over falling state revenues.Despite the slump, driven largely by OPEC+ pl…
Big Oil Holds Steady on Dividends Despite Oil Price Slump
The world’s biggest international oil and gas firms are sticking to their dividend distribution policies as most met or exceeded analyst expectations of first-quarter profits.BP and Chevron reduced the pace of their share buybacks for the second quar…
Inside Trump’s Hardball Strategy to Control Global Oil Prices
No previous U.S. government nor its now second-term President Donald Trump are known for their forgiving natures of supposed past betrayals. This is particularly true when the transgressor has been an entity on which both have been forced to rely for …
US Oil Drillers See Minor Uptick in Activity
The total number of active drilling rigs for oil and gas in the United States rose again this week, according to new data that Baker Hughes published on Thursday, following a 2-rig increase in the prior week.The total rig count in the US rose by 2 to …