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Oil prices may be trading in a sweet spot for buyers, but it will take years to replenish the nation’s Strategic Petroleum Reserves, U.S. Energy Secretary Jennifer Granholm said.
When the Biden Administration sold off 221 million …
The post It will take years to replenish Strategic Petroleum Reserve: Granholm appeared first on Oil & Gas 360.
BOGOTA – Colombia’s Ecopetrol must focus on growing its oil and gas production to fund the transition towards renewables, said Saul Kattan, the chairman of the majority state-run energy company.
Colombia could be a world leader in production of …
The post Colombia’s Ecopetrol must grow oil, gas output to fund transition, chairman says appeared first on Oil & Gas 360.
Five international oil companies active in Brazil have petitioned a federal court to suspend the 9.2% tax on crude oil exports that new president Ignacio Lula da Silva introduced soon after he came into office, angering the industry.…
The post Big oil petitions Brazilian court to suspend new oil tax appeared first on Oil & Gas 360.
(WO) – MicroSeismic, Inc. will receive $199,721 as part of the Department of Energy grants totaling $16,676,827 to 77 small businesses in 25 states, in support of scientific energy innovation and clean energy development.
The MicroSeismic DOE project …
The post MicroSeismic wins second Department of Energy grant for carbon capture and storage services appeared first on Oil & Gas 360.
LNG freight rates for Atlantic Basin spot LNG cargoes slid to below $50,000 per day on Thursday, the lowest level in over seven months, as natural gas prices in Europe drop with peak winter demand behind us.
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The post LNG shipping rates fall to a 7-month low as gas prices drop appeared first on Oil & Gas 360.
LONDON – An oil tanker runs aground off eastern China, leaking fuel into the water. Another is caught in a collision near Cuba. A third is seized in Spain for drifting out of control.
These vessels were part of …
The post Oil spills and near misses: more ghost tankers ship sanctioned fuel appeared first on Oil & Gas 360.
The EIA has released its natural gas inventory report, showing a net decrease of 72 Bcf as of March 17, 2023.
Working gas in storage was 1,900 Bcf as of Friday, March …
The post Weekly Gas Storage: Inventories decrease by 72 Bcf appeared first on Oil & Gas 360.