The Inflation Reduction Act may seem like a setback for the energy industry, but there are good and bad aspects for oil and gas executives to ponder.
Talos Energy President and CEO Tim Duncan said offshore lease sales, which could be restored by the Inflation Reduction Act, are a key component of the company’s Gulf of Mexico strategy.
Private companies produce some 60% of U.S. supply, making Sinema’s private equity amendment to the Inflation Reduction Act more important to fossil fuel finance than the “green bill” description might suggest.
Even window shopping for acreage, or submitting an official expression of interest in an area for potential auction by federal land authorities, would carry a $5 per acre cost if the bill is passed.
Through Lightsource bp's development of two new Australian solar farms, it will become the country's biggest solar developer by capacity.
Oil and gas producers will see new taxes and fees and their effective cash tax rates rise to 15% compared to other sectors, such as a 5% increase for tech.
“This is going to unlock a significant amount of emissions that could become economic for capture,” Milestone Carbon's Chris Davis said of the $430 billion U.S. climate and tax bill and the carbon capture and storage hubs that will come from it.
Decision to reconsider retirement of Diablo Canyon plant stems from rolling blackouts in 2020.
Venezuela is on path to double-digit oil production growth this year compared to last, a feat that last occurred in 2004, according to OPEC data compiled by Hart Energy.
In April, the U.S. commissioned a tanker to impound Iranian oil off the coast of Greece.
On Aug. 11, a Shell-operated pipeline leaked approximately 2 bbl of oil into the U.S. Gulf of Mexico.
The Inflation Reduction Act of 2022 is designed to accomplish a number of policy goals. Watch this Two-Minute Drill segment to learn the pluses and minuses.
OPEC producer Venezuela has suspended new crude oil shipments to Europe under an oil-for-debt deal and instead is seeking fuel in exchange for future cargoes.
Italy's new regasification vessel should expand the country's LNG import capacity, Italian Ecological Transition Minister Roberto Cingolani reported.