The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) announced disappointing results this week from its call for bids on offshore oil parcels, according to a press release. Of the 17 parcels offered up in the Eastern Newfoundland Region, only one received any bids—Parcel 9—for which the winning bidder, BP Canada Energy Group ULC, committed $27 million in exploration work. For…
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President Donald Trump surprised many this week with the removal of Neil Chatterjee from the post of chairman of the Federal Energy Regulatory Commission. Chatterjee was replaced by the other Republican sitting member of the commission, James Danly. Chatterjee’s term was set to expire in June 2021, Axios reported, noting the chairman of FERC had said he intended to remain…
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Alberta has reached an agreement with Canada’s federal government to have its own provincial regulation on methane emissions, which will save the energy industry money and avoid red tape, the provincial government said on Thursday. Instead of having federal and provincial regulations on methane emissions, Alberta will now have only provincial rules on tackling methane emissions, whose largest source in…
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Colorado energy regulators have voted for a curtailment of gas flaring at oil and gas production sites, limiting approved flaring to just a few circumstances, the Colorado Sun reports, noting that flaring is relatively rare in the state, compared with other states where it is routine. The rule will help mitigate climate change, ensure the safety of groundwater, and make…
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Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 5 to 226. The total number of active oil and gas rigs increased for the week by 4, with oil rigs rising by 5 and gas rigs falling by 1. Total oil and gas rigs in the United States are now down by…
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As predicted, a second wave of COVID-19 is wreaking havoc on the world economy with many European nations contemplating new shut downs. It looks like it will be a tough winter for the oil markets. In a recent article carried in Reuters, two energy trading firms, Vitol, and Trafigura offered dour forecasts for the next few months. Trafigura’s Executive Chairman, Jeremy Weir…
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Shares of major wind turbine manufacturers slumped on European markets on Wednesday as the U.S. presidential election—with the two candidates differing strongly on energy policy—continued to be too close to call as of 10 a.m. ET. The biggest manufacturers of wind turbines have a strong presence on the U.S. wind market, which has been rapidly growing in recent years. U.S.…
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The United States exported crude oil, petroleum products, and natural gas to Mexico worth nearly US$34 billion in 2019, just shy of the record-high value of energy exports in 2018, the U.S. Energy Information Administration (EIA) said on Wednesday. According to data from the latest annual Standard International Trade Classification (SITC) from the U.S. Census Bureau, the U.S. imported energy…
Read MoreThe sales of petroleum oil products in Pakistan hit two-year high level of 1.7 million tons in October with high speed diesel (HSD) leading the rally from the front. The overall sales increased 11% to 1.7 million tons in October compared to 1.52 million tons in September. The growth in the sales may be attributed to revival of economic activities…
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Although the Texas upstream oil and gas industry remained in contraction in the third quarter, signs have emerged in employment and rig counts that the sector may have already seen the worst of the downturn and could be headed to recovery, the Texas Alliance of Energy Producers said in its latest Texas Petro Index (TPI) this week. The exploration and production activity…
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