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OPEC producer Kuwait will soon launch plans to merge some of its state oil companies as part of a restructuring programme intended to boost performance and cut costs. The Kuwait Petroleum Corporation (KPC), which manages the Gulf country’s hydrocarbon sector, will oversee the restructuring plan, which has been approved by the cabinet and the Supreme...
The United States Federal Energy Regulatory Commission (FERC) has redeclared its decision to grant authorization for an Atlantic pipeline expansion project by Transcontinental Gas Pipe Line Co. LLC (Transco). The Court of Appeals for the District of Columbia Circuit had issued voidance and remanded to FERC a case challenging the Commission’s Certificate and Abandonment Authorization...
In a special U.S. policy oil and gas market update sent to Rigzone by the Rystad Energy team late Wednesday, Matthew Bernstein, a vice president of upstream research at Rystad, stated that, “despite President Trump’s intentions, a significant uptick in U.S. oil production is highly unlikely”. “The ‘drill, baby, drill’ mantra overestimates the industry’s willingness...
The US intervention in the oil dispute between Baghdad and Kurdistan has been met with resistance from Baghdad, who views it as meddling in internal affairs.The Federal Government of Iraq aims to unify the country under its control by ending Kurdistan’s independence and controlling all oil and gas production and revenue.The ongoing oil embargo and...
The US risks forfeiting a global competition to dominate artificial intelligence if it doesn’t build more reliable, always-on electricity to supply the industry, President-elect Donald Trump’s pick to lead the Interior Department warned Thursday. Doug Burgum, the former North Dakota governor who has also been tapped to help chart Trump’s energy policy, cast the issue...
Oil surpassed $80 a barrel for the first time since August as US inventories tightened and fresh sanctions on Russia began to affect crude flows. Buyers of Russian oil are increasingly turning to other suppliers, with nations including India saying they would bar sanctioned tankers, following the most aggressive sanctions yet by the US. In...
Executives from oil and gas firms have revealed where they expect the Henry Hub natural gas price to be at various points in the future in the fourth quarter Dallas Fed Energy Survey, which was released recently. The average response executives from 128 oil and gas firms gave when asked what they expect the Henry...
The U.S. gasoline price will average $3.22 per gallon in 2025, according to GasBuddy’s 2025 Fuel Price Outlook, which was published recently. The outlook includes a range of possible prices for each month next year. The highest figure in that range appears in April, at $3.67 per gallon, and the lowest figure appears in December,...
Oil rose in thin end-of-year trading, with investors assessing the outlook for 2025 while tracking developments in the Middle East. West Texas Intermediate climbed 1.4% to settle near $71 a barrel, while Brent topped $74. A gauge of 10-day volatility for WTI ebbed to the lowest since July. In the Middle East, Israel struck targets...
BP Plc and the Iraqi government took another step toward reviving one of the OPEC member’s most prolific oil and gas resources, the Kirkuk field. The agreement on technical terms to redevelop the field in the north of Iraq is an important step toward a fully termed contract, BP Executive Vice President William Lin said...
