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 …
Rare Earth Showdown Hits Tesla, Defense Firms Hardest
The global automotive industry could soon start reeling from one of China’s boldest moves in the trade war—restricting exports of several rare earth metals that are critical to the auto manufacturing, energy, and defense industries.Earlier this mont…
Trump Tariffs Reshape MENA Oilfield Services
The Trump administration’s tariff regime, intended to boost US manufacturing and inflict punitive damage on Chinese manufacturing, has disrupted multiple industrial supply chains into the US with cascading effects across other regions. For the Middle…
Doubts Arise Over Azerbaijan Gas Export Targets
Azerbaijani leader Ilham Aliyev wants the European Union to ease regulatory hurdles and improve financing conditions to enable an expansion of natural gas exports. But recently published data raises doubts about whether Azerbaijan can meet a commitmen…
Soaring U.S. Power Demand Will Need All Energy Sources
AI data centers and the reshoring of some manufacturing will drive U.S. electricity demand growth over the coming decade.The world’s biggest economy will need all energy sources to ensure power demand is met. Natural gas is the biggest near-term winn…
Oil Rig Count Slides Amid Oil Price Turbulence
The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday, following a 2 rig dip in the prior week.The total rig count in the US fell by 7 to 583 rigs, acc…
Iraq’s 7 Million bpd Oil Production Goal Draws Swift Response from Chinese Firms
The recent reiteration by Iraq Oil Ministry of a 7 million barrels per day (bpd) oil production target within the next five years has spurred activity among Chinese firms that continue to dominate the country’s oil and gas sector. As it stands, more …