All eyes remain on Texas and the state’s energy grid operator in the aftermath of a devastating winter storm, oil prices responded positively to the U.S. House passing a new COVID-19 relief bill, and Canadian crude-by-rail exports are rebounding after a rough 2020. Biweekly, we round up news and analysis about three things going on in the energy industry ... READ MORE >
Top energy trends for oil and gas companies to watch in 2021
The energy industry faced unprecedented volatility in 2020 and operators were forced to react and adapt to a low-price environment. In 2021, many of those challenges remain as the pandemic continues and the years-long push toward the energy transition accelerates. Oil, gas and other energy companies will also need to closely follow policy changes under ... READ MORE >
3 things to know this week in energy: Canada consolidation, oil prices, and tech invests in renewables
Major tech investment in renewable energy continues, freezing weather in the United States lifts oil prices up and Canada’s energy market sees another major consolidation announcement. Biweekly, we round up news and analysis about three things going on in the energy industry that we think you should know about. Here’s the latest. Big Tech's investment in ... READ MORE >
3 things to know this week in energy: Drilling permit suspension pushback, Keystone XL and shale oil
There has been no shortage of energy industry news since President Joe Biden took office in January: last week, a group of Republican senators introduced a bill pushing back against the administration’s recent suspension of new drilling permits on federal lands; Biden’s move to revoke the Keystone XL pipeline permit is making waves; and oil companies are ... READ MORE >
The Biden administration’s suspension on federal drilling permits: an explainer
In line with President Joe Biden’s campaign promises, the U.S. Department of the Interior last week under his new administration suspended approvals of new oil and gas drilling permits and leases across domestic federal lands for 60 days. Following the news, some producers experienced a drop in stock prices, but there was no significant change to oil ... READ MORE >
Oil prices show unprecedented volatility in 2020, and a path to recovery remains uncertain
The unprecedented imbalance the oil market has experienced for much of 2020 has garnered extraordinary responses from both oil producers and policymakers. Oil and gas companies have been forced to reposition themselves during the downturn in order to prepare for a comeback. Oil prices in the first half of 2020 were volatile, with West Texas Intermediate ... READ MORE >
CHART OF THE DAY: Does a rise in total rig count signal oil and gas recovery? Too soon to tell
U.S. rig count, a leading indicator of U.S. oil and gas production published weekly by Baker Hughes, increased in the week ended Aug. 21 for the first time since the price collapse that began in early March of this year. Following the 10 rig gain in mid-August, the count has only experienced small changes, indicating that the abrupt jump is not indicative of ... READ MORE >
The perfect storm: Tough times ahead for the U.S. shale industry
A swift drop in oil demand from China and the oil price war between Saudi Arabia and Russia have led to a global crude surplus. The oil industry in the United States faces tough times ahead as the coronavirus pandemic continues to inject uncertainty into oil markets, and shale producers especially are expected to feel the pain. In March, West Texas ... READ MORE >