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FROM THE OIL PATCH
Consolidation Wave in U.S. Oil and Gas is Big Boon for Private Equity
A couple of years ago, private equity funds were having trouble convincing investors that there was still money to be made in oil and gas.
Banks Still Play a Major Role in Oil and Gas Funding
Despite increasing pressure to defund oil and gas firms in support of international decarbonisation efforts, many major banks are continuing to provide financing to fossil
Oil settles higher on hopeful demand outlook as US oil stocks sink
Oil prices settled higher on Wednesday after a jump in U.S. refining activity last week drove a larger-than-expected decline in gasoline and crude inventories, but gains were capped due to minimal supply disruptions from Hurricane Beryl. Brent futures settled up 42 cents, or 0.5% at $85.08 a barrel. U.S. West
Record US summer heat, hurricanes could roil fuel prices as oil refiners sweat
A double whammy of record heat and hurricanes should test U.S. refiners’ resilience in coming weeks, raising the risk of extremely volatile fuel prices in the middle of the peak travel season, analysts said. The Atlantic hurricane season from June through November is an annual threat for U.S. refineries. Half
Biden administration considers expanding Alaskan oil and gas drilling ban
On July 12, the Bureau of Land Management (BLM) announced it is seeking public opinion on whether or not to expand so-called “protected” areas in Alaska’s National Petroleum Reserve (NPR-A). If enacted, the measure would expand on the Biden administration’s recent ban on new oil and gas drilling projects in the
Trump Vows to Boost U.S. Oil Production if Elected President
Donald Trump has pledged to ramp up U.S. domestic oil production and undo some regulations to make that happen, the Republican presidential candidate told Bloomberg Businessweek in an exclusive interview published on Wednesday. The interview with the former U.S. president took place at Mar-a-Lago in late June, two days before the first
CRUDE OIL WEEKLY UPDATE (Week Ending 07-19-24)
Crude Oil Summary (EIA): U.S. crude oil refinery inputs averaged 16.9 million barrels per day during the week ending July 12, 2024, which was 181
NATURAL GAS WEEKLY UPDATE (Week Ending 07-19-24)
In the News (EIA): Market Highlights: Prices Henry Hub spot price: The Henry Hub spot price fell 39 cents from $2.37 per million British thermal
Zekelman Industries Steel Snapshot for July 2024
(by Mike Mechley, Executive VP of Strategic Procurement, www.ZekelmanIndustries.com) SMU July HR Coil $650 down $60 from June. USS is insistent the sale to Nippon
Preston Pipe Report – June 2024
(by Paul Vivian and Rick Preckel, www.prestonpipe.com) Market Monitor – In mid-June, the Senate voted to confirm three new commissioners to the Federal Energy Regulatory Commission
Argus Pipe Logix Line Pipe Report – June 2024
(by Rye Druzin, www.pipe-logix.com) US line pipe prices dropped by 2.3% in June to $2,334/st, with the domestic market broadly down while tight supply edged
AISI Press Release on Latest U.S. Imports of Steel Products – July 2024
American Iron and Steel Institute, www.steel.org – (07-11-24) Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and