Texas State

Columbus, OH

Alaska State

Eni has signed a binding agreement with Hilcorp for the sale of 100% of the Nikaitchuq and Oooguruk assets owned by Eni in Alaska. Hilcorp is a private US company with extensive Alaska operating experience. Proceeds are anticipated to come from three main sources: high-grading the upstream portfolio, diluting down...

Eni agrees to sell upstream assets in Alaska

Italian energy giant Eni has signed a binding agreement with Hilcorp, one of the largest U.S. private companies, for the sale of its upstream offshore assets Nikaitchuq and Oooguruk in Alaska. This transaction is consistent with Eni's strategy focused on the rationalization of the upstream activities by rebalancing its portfolio...

Eni Sells Two Offshore Oil and Gas Assets in Alaska

Japanese trading firm Sumitomo will look to increase its services and related business in the U.S. shale patch, three years after quitting shale production operations, Sumitomo president Shingo Ueno told Bloomberg in an interview published on Monday. In early 2021, Sumitomo sold the last of its production assets in the...

Trader Sumitomo Seeks U.S. Shale Service Business Despite Exiting Production

The US Gulf Coast is probably the only place in the world where two men with virtually no experience running an energy business could upend a vast industry while becoming billionaires in the process. Little more than a decade ago, ex-banker Mike Sabel and lawyer Bob Pender were driving across...

Banker-lawyer duo make billions from audacious natural gas bet

BP has halted hiring across the company and paused new offshore wind power projects as it seeks to reassure investors it is on the right path, focusing on its core business in oil and gas. That’s according to a Reuters report that quoted unnamed sources from the company, which until...

BP Freezes Hiring and Pauses New Offshore Wind Projects

CBS Pittsburgh

The world could have a glut of oil by the end of the decade because of rising production combined with declining demand as consumers and businesses switch to electric vehicles and renewable energy, according to a new report from the International Energy Agency.The International Energy Agency said Wednesday that the world's total oil supply capacity is expected to rise to about 114 million barrels a day by 2030, which the group said would amount to "staggering" 8 million barrels a day beyond projected demand. That type of spare capacity hasn't been seen outside the COVID-19 lockdowns of 2020, when economies across the...

The world could soon see a massive oil glut. Here's why.

Louisiana State

Fortune

The U.S. government is slowly replenishing the Strategic Petroleum Reserve. In dozens of underground salt caverns nestled along the Gulf Coast in Texas and Louisiana sit hundreds of millions of barrels of crude oil, America’s “insurance policy” against the volatile nature of the global oil market. Called...

Biden sold off nearly 50% of the Strategic Petroleum Reserve. Is that a problem?

China explicitly declared that rare-earth resources belonged to the state, its latest move to consolidate control over minerals needed for the green energy transition. The announcement came after Beijing this year placed restrictions on the exports of gallium and graphite, which are key to the manufacture of semiconductors and electric vehicles, respectively.

China tightens grip on rare earths in race for green energy transition

New York City, NY

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The e-Texan

New York – As Trump anticipates his sentencing on July 11th in the New York hush money case, Florida Judge Aileen Cannon made a ruling this Monday. Despite rejecting Trump’s legal team's request to dismiss several charges in the classified documents case, she conceded on a minor point. She removed a portion of the charges that referenced an uncharged allegation, but upheld the other charges.

Legal expert says Trump should not be jailed after New York guilty verdict because he is ‘too old’

Newark, NJ

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Morristown Minute

NEWARK, N.J. – Eight individuals associated with the "793 Bloods" street gang, a subset of the national Bloods gang, have been charged for their roles in a Newark-based drug trafficking organization, U.S. Attorney Philip R. Sellinger announced.

Eight '793 Bloods' Gang Members Charged in Newark Drug Network

Gas use in eastern Australia has been declining over the past 10 years, particularly for electricity generation, and this trend is likely to continue. About 80% of eastern Australia’s gas supply is used for exports, backed by proven and probable (2P) reserves, reducing the need for new gas supplies.

Gas supply warning clouds the reality

Watford City, ND

WASHINGTON (Reuters) - The U.S. Supreme Court was expected on Monday to decide a case involving a legal challenge to a Federal Reserve regulation on debit card "swipe fees" in a ruling that could make it easier for businesses to try to overturn longstanding federal rules. A lower court dismissed...

US Supreme Court to Rule in Case Involving Debit Card 'Swipe Fees'

Maine State

(Reuters) -The National Transportation Safety Board and Federal Aviation Administration said on Friday it will investigate a Southwest Airlines flight that departed from a temporarily closed runway in Maine earlier this week. The FAA said on Tuesday an airport vehicle exited the runway before Southwest Flight 4805, a Boeing 737,...

NTSB, FAA to Investigate Southwest Flight That Departed From Closed Runway in Maine

For decades, the United States has been a net consumer of energy, using up more energy than it produces. However, a sharp increase in oil and gas production following the shale boom as well as the ongoing renewable energy revolution has helped change the energy trajectory over the past 15 years. And now the U.S. Energy Information Administration (EIA) has reported that U.S. energy production exceeded consumption by record amounts in 2023.

U.S. Energy Production Chalks Up Another Record

The Hill

The Biden administration announced Friday the availability of $850 million in Inflation Reduction Act (IRA) grants aimed at reducing methane emissions. In remarks to reporters, Deputy Energy Secretary David Turk said the funds will be offered across three categories: those cutting emissions from current oil wells, those focusing on leaks from other equipment such as…

Biden administration announces $850 million in grants to cut methane emissions

In this article, we will take a look at the Largest Gold Mine in the World by Production Volume. We have also compiled a full free list of the 10 Largest Gold Mines in the World by Production Volume. Exploring the Global Gold Industry. Gold has been one of the...

The Largest Gold Mine in the World by Production Volume

Esgian provides an update on drilling activity in its Week 26 Rig Analytics Market Roundup. Ventura Offshore has been granted exclusive marketing rights from Hanwha Drilling LLC for the newbuild 12,000-ft 7th generation drillship, Tidal Action, for an ongoing tender process in Brazil. Transocean has announced a 365-day contract extension...

Esgian Week 26 Report: Drilling Activity is High

Reuters

MELBOURNE (Reuters) - A fire at Anglo American's Grosvenor metallurgical coal mine in Australia is likely to negatively affect its Australian met coal business, broker Jefferies said in a note on Monday.

Jefferies says Anglo American coal fire likely to affect met coal sale

California State

Santa Barbara, CA

Two nonprofits sued the Biden administration last week over its renewal of 16 leases off the coast of Santa Barbara, California, even though oil production in the area has been shut down since a 2015 oil spill. The Center for Biological Diversity and the Wishtoyo Chumash Foundation alleged the decision...

Interior faces lawsuit over Exxon’s California offshore leases

Supply will outstrip demand, and the spare capacity will be unlike ever "seen before other than at the height of the Covid-19 lockdowns in 2020,” IEA said.

We’ll soon live in a world with a ‘staggering’ excess of oil that we can’t fully use, global energy watchdog IEA warns

NewsBreak

Repsol Explores Sale of Minority Stake in South Texas Oil Assets, Sources Say

NEW YORK (Reuters) - Spanish oil major Repsol plans to sell a minority interest in its Eagle Ford shale assets in South Texas, in a deal...

Repsol Explores Sale of Minority Stake in South Texas Oil Assets, Sources Say

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