Month: November 2020

Colorado Takes Aim At Oil, Gas Well Flaring

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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 sure soil resources are available to grow healthy crops and vegetation, the director of the Colorado Oil and Gas Conservation Commission, Julie Murphy, said in a statement as quoted by…

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U.S. Oil Rig Count Rises During Election Week

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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 517 compared to this time last year. The EIA’s estimate for oil production in the United States fell in the week ending October 30—from 11.1 million barrels in the week…

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Oil Prices Are Set To Go Higher Next Year

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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 offered a demand forecast of a decline of a million BOPD in the U.S. and up to 1.5 mm in Europe as a result, with global demand through the winter…

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Stocks Of Major Wind Turbine Makers Slump Amid Election Uncertainty

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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. President Donald Trump’s energy agenda continues to be pro-oil and favoring the fossil fuel industries, while Democratic candidate Joe Biden has an energy plan that would strongly favor renewable power…

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U.S. Energy Exports To Mexico Near Record-High Levels

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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 products from Mexico worth US$13 billion last year, the EIA estimates showed. The value of U.S. energy exports to Mexico exceeded the value of energy imports from Mexico in 2015,…

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