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VIDEO: Permian Production Changing Between 2000 And 2016
07/29/2017
Time flies: O&G industry changes. Be a time-traveller with us today. See history evolving on our maps.
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Energy Transfer LP Races to Carry Permian Basin Gas to Gulf Coast Hubs
The ever-increasing demand for natural gas exports from the Gulf Coast started a race to further develop Permian Basin. Various companies, including Kinder Morgan and MPLX, are among those looking at building new pipelines in the region due to the demand spike. But Energy Transfer seems to edge past them into the lead since its project strikes as the most economical option for the basin outside of capacity expansions on existing pipelines and could essentially add 1.5-2 Bcf/d of transport capacity with just 260 miles of new pipe.
Is the U.S. Oil Production Boom Fading? M&A Activity Suggests So
The US oil industry made big headlines in 2023 thanks to its surprising record oil production. However, experts believe 2024 won't see the same level of growth, mainly due to one key factor: a surge in mergers and acquisitions (M&A). So far in 2024, the oil and gas exploration sector has seen mergers worth $55 billion. This follows a record-breaking year in 2023 when the industry announced deals totaling $190 billion, the highest ever for this sector.
As world leaders gather at the COP29 climate summit, a surprising trend is emerging: some of the biggest oil companies are scaling back their renewable energy efforts. Why? The answer is simple—profits. Fossil fuels deliver higher returns than renewables, reshaping priorities across the energy industry.
The global oil market is full of potential but also fraught with challenges. Demand and production are climbing to impressive levels, yet prices remain surprisingly low. What’s driving these mixed signals, and what role does the U.S. play?
Shell overturned a landmark court order demanding it cut emissions by nearly half. Is this a victory for Big Oil or just a delay in the climate accountability movement?