Exports of crude oil from the U.S. Gulf Coast could hit a record 3.3 million barrels per day (MMbbl/d) this quarter, analysts said on Monday, as Europe chases U.S. crude to offset sanctioned oil. U.S. exports have risen in the last three months, helped by Washington’s decision to release 180 million barrels of oil from

$150 oil could still happen, BofA Global Research indicated in a new report sent to Rigzone this week. In the report, BofA Global Research outlined that it sees Brent averaging $102 per barrel this year and in 2023 and highlighted that a potential spike to $150 per barrel could happen if European sanctions push oil

Oil Majors Are Lining Up For The Next Great South American Oil Boom The Guyana-Suriname oil basin may hold much larger reserves than anticipated. Suriname is looking to replicate Guyana’s oil boom through 2030. Low projected breakeven prices and discoveries of light to medium sulfur crude makes Suriname an attractive location for oil majors. The

High LNG exports and warmer weather are the driving forces behind the rally in U.S. natural gas. U.S. natural gas prices have surged by more than 130% since the beginning of the year. The price is currently 3.3 times above the five-year average. U.S. benchmark natural gas prices jumped to above $9 per million British

Centennial Resource Development and Colgate Energy Partners III, LLC have agreed to combine in a $7.0-billion merger of equals, creating the largest pure-play exploration and production (E&P) firm in the Delaware Basin in the Permian, the companies said on Thursday. The combined firm will be the largest pure-play E&P company in the Delaware Basin, with

Global LNG demand will more than double from 356mn tonnes in 2020 to 800mn tonnes by 2050, “fuelled by solid demand from Asia and a rise in gas use for powering hard-to-electrify sectors”, according to the Gas Exporting Countries Forum (GECF). The biggest regasification capacity additions to 2050 are expected in Asia Pacific, GECF said

As the energy transition quickens, global carbon capture, utilization and storage (CCUS) projects are on track to pull more than 550 million tonnes of CO2 out of the atmosphere every year by 2030, Rystad Energy research shows. This capacity growth represents a more than tenfold increase over today’s 45 million tonnes per annum (tpa) of

The Biden administration will offer oil and gas companies drilling rights on federal acreage in at least eight states in June, according to sale notices published on Monday. The announcements come days after the U.S. Department of Interior said it would resume oil and gas lease sales on public lands, a move that clashes with

The latest report from the Intergovernmental Panel on Climate Change (IPCC) released last week says it’s “now or never” for governments to start staving off emissions to save the planet from irreversible climate disaster. Rich countries seem to be choosing never, as governments approve multiple oil and projects across the globe. “We are at a

The urgency needed to start implementing the principles of the net-zero goal came up for debate between regional and global experts at a session during the Global Energy Forum. The forum took ‘The Geopolitics of Energy Transition’ as the theme to explore the challenges of ‘Oil and Gas in a Net Zero World’ and to