High on the agenda for the U.S. and Indian oil companies: reinstating transactions known as oil swaps that would allow companies to receive Venezuelan crude in exchange for supplying diesel fuel. SourceContinue Reading

Neptune Energy and its joint venture partners bp and JAPEX, announced drilling has commenced on the Seagull project in the UK Central North Sea. SourceContinue Reading

How the fragmented U.S. shale industry will respond to increased incentives to drill has become a crucial question for traders and industry watchers across the world. SourceContinue Reading

“The region that would bear the brunt of the oil and gas ban are the deep waters of the Gulf of Mexico since it’s entirely owned by the U.S. government,” said Elisabeth Murphy, ESAI Energy LLC upstream analyst for North America. It would mean a 40% output drop for the Gulf by 2030, she said....Continue Reading

When President Biden banned fossil fuel leases on federal lands, he left out coal — the fossil fuel most widely blamed for global warming. It was a conspicuous omission for a president who has vowed to make the electric grid carbon-free by 2035 and who has said the world’s “future rests in renewable energy.” SourceContinue Reading

Western Energy Alliance, which says it represents 200 oil and natural gas companies, said the administration’s suspension of leases is “unsupported and unnecessary,” and an overreach by the U.S. Bureau of Land Management, according to a petition filed Wednesday in Wyoming federal court. SourceContinue Reading

“There is never a good time to disrupt domestic energy production, especially during a pandemic, but doing so at a time when our nation is in need of economic recovery is especially counter-productive and short-sighted,” said U.S. Chamber of Commerce Global Energy Institute President Marty Durbin. SourceContinue Reading

President Joe Biden took executive action on Wednesday to block new leases for oil drilling on federal lands and waters for one year and ordered a review of fossil-fuel subsidies and other measures to overhaul how the U.S. produces energy. SourceContinue Reading

President Joe Biden will take additional executive action on Wednesday to combat climate change, including temporarily blocking new leases for oil drilling on federal lands and waters, ordering a review of fossil-fuel subsidies and other measures to overhaul U.S. energy. SourceContinue Reading

With crude prices and refining margins buoyed by the rollout of Covid-19 vaccines and the prospect of an economic rebound, investors will be watching for signs in Big Oil’s fourth-quarter earnings that higher crude prices will translate into much-needed increased cash flows this year. SourceContinue Reading