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Oil industry gets greener as U.S. policy shifts to climate change | CNBC

The greening of the American oil industry has gone into overdrive. Dan Yergin, IHS Markit vice chairman, said it’s an important turning point for the fossil fuel sector, which has been anticipating big changes with President Joe Biden’s climate-focused, clean energy policies. “The oil and gas industry is calibrating itself to what has become the […]

Read More Oil industry gets greener as U.S. policy shifts to climate change | CNBC

Judge delays hearing on permit for Dakota Access pipeline

FARGO, N.D. (AP) — A federal judge on Tuesday agreed to push back a hearing about whether the Dakota Access oil pipeline should be allowed to continue operating without a key permit while the U.S…. — Read on apnews.com/article/donald-trump-technology-dakota-access-pipeline-c43ce45370da624addda5ad21b24b1f6

Read More Judge delays hearing on permit for Dakota Access pipeline
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U.S. shale ponders the unexpected: what to do with coming cash windfall? | Reuters

HOUSTON (Reuters) – A sustained rise in global oil prices has U.S. shale producers pondering something few expected to be considering after last year’s tumble: how to allocate rising cash flows among new production, dividends and stock buybacks. U.S. shale producers will generate about $73.6 billion in cash from operations this year, up nearly a […]

Read More U.S. shale ponders the unexpected: what to do with coming cash windfall? | Reuters
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Is big oil serious about going low carbon? | Bloomberg Professional Services

Is big oil serious about going low carbon? BloombergNEF January 19, 2021 This analysis is from BlooombergNEF. It appeared first on the Bloomberg Terminal. Executive summary The global oil industry is facing pressure to decarbonize. Regulations and reputational risks have forced most oil majors to take action to reduce their own emissions, such as curbing […]

Read More Is big oil serious about going low carbon? | Bloomberg Professional Services
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US puts new oil and gas leases, permits on federal lands on hold for 60 days | S&P Global Platts

Houston — The US Interior Department on Jan. 20 put new oil and gas lease sales and permits on federal lands and waters on hold for 60 days, according to an order signed by Acting Secretary Scott de la Vega. The decision gives the Biden administration more time to develop its longer-term plans on oil and […]

Read More US puts new oil and gas leases, permits on federal lands on hold for 60 days | S&P Global Platts

Trump administration issues last-minute Arctic refuge drilling leases | Reuters

The Trump administration said on Tuesday it had issued drilling leases on more than 400,000 acres (160,000 hectares) of Alaska’s Arctic National Wildlife Refuge (ANWR), delivering on a promise to fossil-fuel proponents on President Donald Trump’s last full day in office. — Read on http://www.reuters.com/article/usa-trump-drilling/update-2-trump-administration-issues-last-minute-arctic-refuge-drilling-leases-idUSL1N2JU2R8

Read More Trump administration issues last-minute Arctic refuge drilling leases | Reuters
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Valaris 8500 and 8501 will be converted by SpaceX | RigLynx

Elon Musk’s SpaceX bought two deepwater rigs last year and is converting them into floating launchpads, to support the enormous Starship rockets that the company is developing.   The rigs are in the Port of Brownsville, near SpaceX’s Starship development facility in Boca Chica, Texas.   The rigs have been renamed Deimos and Phobos, presumably in […]

Read More Valaris 8500 and 8501 will be converted by SpaceX | RigLynx
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Oil companies lock in drilling, challenging Biden on climate | AP

BILLINGS, Mont. (AP) — In the closing months of the Trump administration, energy companies stockpiled enough drilling permits for western public lands to keep pumping oil for years and undercut President-elect Joe Biden’s plans to curb new drilling because of climate change, according to public records and industry analysts. An Associated Press analysis of government […]

Read More Oil companies lock in drilling, challenging Biden on climate | AP

Oil edges higher, but posts 20% annual drop in tumultuous 2020 | Reuters

Global crude prices edged higher on Thursday but lost more than a fifth of their value in 2020, as lockdowns to combat the novel coronavirus depressed economic activity and sent oil markets reeling. — Read on http://www.reuters.com/article/us-global-oil/oil-edges-higher-but-posts-20-annual-drop-in-tumultuous-2020-idUSKBN295044

Read More Oil edges higher, but posts 20% annual drop in tumultuous 2020 | Reuters
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Permian natural gas pipeline on hold, market struggles amid COVID-19 | Current-Argus

A natural gas pipeline that would have connected producers in the Permian Basin with export and refinery markets in the Gulf Coast was halted as the fossil fuel industry struggles amid the COVID-19 pandemic. The pandemic led to several states and countries enacting travel bans and other business restrictions intended to slow the spread of […]

Read More Permian natural gas pipeline on hold, market struggles amid COVID-19 | Current-Argus