Oil Price Emissions Trading Systems (ETS) raised a record $63 billion for governments last year, as the energy crisis pushed policymakers to double down on decarbonization efforts, intergovernmental forum International Carbon Action Partnership (ICAP) said in a new report on … The post Global emissions trading raised a record $63 billion in 2022 appeared first on Oil & Gas 360 ..read more

World Oil (Bloomberg) – U.S. shale may lose as much as 20% of its activity over the next year if energy prices hold at current levels, according to one of the biggest private equity players in the industry.    … The post Quantum Energy: U.S. shale drilling to drop 20% at current energy prices appeared first on Oil & Gas 360 ..read more

Oil Price Venezuela’s state-owned oil firm PDVSA is owed a massive $21.2 billion from its oil sales, or around 84% of its total invoiced cargo shipments of the past three years, documents reviewed by Reuters showed this week.   After … The post Venezuela’s PDVSA has $21 billion in unpaid oil sales to collect appeared first on Oil & Gas 360 ..read more

Nasdaq LONDON/DUBAI – OPEC+ is likely to stick to its deal on output cuts of 2 million barrels per day (bpd) until the end of the year, even after a banking crisis sent crude prices plunging, three delegates from the … The post OPEC+ likely to stick to its guns despite price slump, delegates say appeared first on Oil & Gas 360 ..read more

BOE Report Oil was steady in trade on Wednesday morning, paring two straight days of gains after an industry report showed U.S. crude inventories rose unexpectedly last week in a sign fuel demand may be weakening.   U.S. West Texas … The post Oil steady after weekly U.S. crude stocks exceed expectations appeared first on Oil & Gas 360 ..read more

Weekly Crude Oil Storage as of March 17, 2023     U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.1 million barrels from the previous week.  At 481.2 million barrels, U.S. crude … The post U.S. crude oil inventories increase by 1.1 million barrels appeared first on Oil & Gas 360 ..read more

Oil Price Texas has added HSBC to its list of companies that boycott the oil and gas industry, which could ban Texas government entities from investing in Europe’s largest bank and its funds and other products. HSBC ended up on … The post Texas adds HSBC to blacklist of banks boycotting oil and gas appeared first on Oil & Gas 360 ..read more

Yahoo Finance RODEO, California – In the oldest refining town in the American West, Phillips 66 is promising a greener future as it moves to halt crude-oil processing and build a massive renewable diesel plant, leading a global trend. That … The post Huge Phillips 66 biofuels project will test the industry’s green promises appeared first on Oil & Gas 360 ..read more

Oil Price Russia will continue its 500,000 barrel per day crude oil production cut through the end of June this year, Russia’s Deputy Prime Minister Alexander Novak said on Tuesday.     Russia first announced the 500,000 bpd production cut … The post Oil prices near $75 as Russia extends output cut through June appeared first on Oil & Gas 360 ..read more

Oil and Gas 360 BIRMINGHAM, AL / ACCESSWIRE / March 21, 2023 / Diversified Energy Company PLC (LSE:DEC) (“Diversified,” “DEC” or the “Company”) is pleased to announce its Final Results for the year ended 31 December 2022 and other recent … The post Diversified Energy reports record production, proved-developed-producing (PDP) reserves and fifth straight year of 50% cash margins appeared first on Oil & Gas 360 ..read more