Biden

Chevron Corp. CEO Mike Wirth on Friday was optimistic that the supermajor could navigate near-term under a potential cap on federal leasing in the United States but he warned that if conditions were to deteriorate, “we have other places to take our dollars.” Wirth helmed a conference call with CFO Pierre Breber on Friday to…

The U.S. oil and gas industry reacted with dismay and the first of perhaps multiple lawsuits Wednesday ahead of an executive order (EO) by President Biden directing the Department of the Interior (DOI) to pause new oil and natural gas leasing on federal lands and offshore waters. The EO published Wednesday afternoon follows a 60-day…

The U.S. oil and gas industry reacted with dismay and the first of perhaps multiple lawsuits Wednesday ahead of an executive order (EO) by President Biden directing the Department of the Interior (DOI) to pause new oil and natural gas leasing on federal lands and offshore waters. The EO published Wednesday afternoon follows a 60-day…

The Biden administration has frozen awarding new oil and gas drilling permits, as well as leases on federal onshore and offshore property, for 60 days, likely heralding more permanent limits to be enacted down the road. The order mandating the freeze was signed by acting Department of the Interior (DOI) Secretary Scott de la Vega…

In its last monthly meeting under the Trump administration, FERC on Tuesday voted not to move forward on a plan to revisit which agency actions should require a detailed review under the National Environmental Policy Act (NEPA). A proposed notice of inquiry presented to the commissioners would have potentially expanded the Federal Energy Regulatory Commission’s…

TC Energy Corp. called an immediate halt today to work on Keystone XL (KXL) as President Biden was expected to keep an election promise to revoke the U.S. construction permit for the $8 billion oil pipeline on Wednesday. “Advancement of the project will be suspended,” said the Calgary firm. Unless attempts to recover costs to…

Natural gas futures plunged on Tuesday after forecasts over the holiday weekend trended warmer for late January and early next month, diminishing prior expectations for a widespread winter freeze that would fuel robust heating demand. The February Nymex gas futures contract settled at $2.546/MMBtu, down 19.1 cents day/day. March fell 16.7 cents to $2.529. Spot…

A new federal rule intended to prevent large banks from denying loans to companies in the oil and gas industry and other sectors that have fallen out of favor with some institutional investors because of environmental and social concerns represents a win for energy companies. But it may prove short-lived. The “fair access” rule, finalized…

Canadian leaders are vowing to rescue TC Energy Corp.’s Keystone XL (KXL) — or sue for damages — from a plan for incoming President Biden to cancel the U.S. presidential permit for the $8 billion oil export pipeline project. KXL stands out as an 830,000 b/d growth enabler for Canada’s top natural gas user, Alberta…