Focus on Oil
California law, refinery exit reflect ongoing fuel market challenges, EIA says
Fuelmakers in California could face more headwinds next year as new legislation takes effect and refining margins remain weak.
US to offer oil and gas leases in Alaska wildlife refuge on Jan. 9
Biden administration to auction 400,000 acres in Alaska's Arctic Refuge for drilling, sparking environmental and economic debates.
US average gasoline price drops below $3 a gallon for the first time since 2021
U.S. gas prices drop below $3/gallon for the first time since 2021, offering relief to consumers amid broader inflationary pressures.
Oilfield services provider Flowco shows revenue surge in US IPO filing
Flowco Holdings has filed for a U.S. IPO, targeting a potential $2 billion valuation and listing on the NYSE under the ticker 'FLOC.'
Chevron CEO says no discussions with President-elect Trump on Venezuela
Chevron maintains operations in Venezuela, aligning with U.S. policy; CEO Wirth notes Russian and Chinese firms could replace them if they exit.
Norway wealth fund hits record 20 trillion crowns
Norway's fund owns about 1.5% of all listed stocks globally.
Oil prices fall on supply glut fears despite OPEC+ output cut extension
OPEC+ has postponed planned supply increases and extended deep output cuts to the end of 2026.
Canadian oil province Alberta cleans up 5% of inactive wells in 2023
Alberta now has 79,000 wells classed as inactive versus 83,000 in 2022.
Environmentalists are headed to court over proposed oil well in vulnerable Florida watershed
Environmentalists sue to block oil drilling in Florida’s biodiverse Apalachicola watershed, citing risks to one of earth’s rare ecosystems.
Northern Ireland moves to ban fracking
Northern Ireland backs fracking ban, advancing renewable energy goals and aligning with net-zero targets; legislation in 2025.
