Oil

Cumulative natural gas production from seven key U.S. onshore regions is set to fall by 472 MMcf/d from January to February, extending a downtrend that goes back to early 2020, according to updated projections published Tuesday by the Energy Information Administration (EIA). In its latest Drilling Productivity Report, EIA said it expects the Anadarko, Appalachian…

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…

Nearly 80% of oil and natural gas professionals feel less secure in their jobs than they did pre-pandemic, but nearly two-thirds expect advances in engineering may open up opportunities in the next three years. The findings are in the fifth annual Global Energy Talent Index (GETI), the world’s largest energy recruitment and employment trends report,…

Massachusetts is ready to follow in California’s footsteps as it moves toward reducing greenhouse gas emissions and looks to ban gasoline-fueled vehicles in a bill that was passed earlier this month. Under a program that has been in the works for months, the overall goal is to reduce carbon emissions by 2030 to 45% below…

Natural gas prices are poised to rebound in 2021, with Henry Hub spot prices on track to average $3.01/MMBtu for the year, nearly $1 higher than 2020 prices, according to updated projections from the U.S. Energy Information Administration (EIA). In its first Short-Term Energy Outlook of the new year, published Tuesday, the agency offered up…

U.S. petroleum inventories declined during the week ended Jan. 8, the U.S. Energy Information Administration (EIA) said Wednesday, as overall demand increased and production held steady. EIA said in its Weekly Petroleum Status Report that total U.S. commercial petroleum inventories decreased by 9.4 million bbl in the week ended Jan. 8. Crude oil inventories —…

Political acrimony over the 2020 presidential election results has endured well into the new year, but the American Petroleum Institute (API) sees at least one area where U.S. voters have reached a consensus. The Democrats obtained a narrow majority in the Senate that would see them take control of both the Legislative and Executive branches…

Enbridge Inc. served notice Tuesday that Canadian oil would continue to flow across the Straits of Mackinac regardless of an order by Michigan’s executive branch to shut down the 540,000 b/d Line 5 in mid-May. Gov. Gretchen Whitmer and Attorney General Dana Nessel have no power to enforce their notice issued in November that the…

The U.S. economy’s reopening amid the Covid-19 pandemic jump-started the oil and natural gas midstream recovery in the second half of 2020. But, the recent rise in oil prices could spur renewed activity in a handful of basins, benefiting some operators in the year ahead. A Raymond James & Associates Inc. team, led by analysts…