Oil

Photo by Juan Mt on Pexels.com The US Environmental Protection Agency (EPA) will fine oil and gas companies for emitting excess methane – the first federal government tax ever on greenhouse gas emissions. As US gas and oil reach record levels of production, enter the EPA’s Waste Emissions Charge, which is part of the Methane Emissions Reduction Program – which in turn is part of the Inflation Reduction Act. The Waste Emissions Charge is designed to get fossil fuel companies to…

Chesapeake Energy and Southwestern Energy have agreed to merge in an all stock-transaction valued at $7.4 billion that is aimed at creating a premier natural gas company.The companies on Thursday said the value is based on Chesapeake’s closing price as of Wednesday.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Chesapeake Energy and Southwestern Energyhave agreed to merge in an all stock-transaction valued at $7.4 billion that is aimed at creating a premier natural…

Colorado drivers paid a premium for gasoline in early 2023 following the closure of the Suncor Refinery, but 2024 is welcoming them with some substantial discounts, including a handful of stations selling fuel for under $2 a gallon. A gallon of regular unleaded gasoline in metro Denver averaged $2.55 a gallon on Wednesday, while the statewide average was $2.69 a gallon and the U.S. average was $3.08, according to the AAA. Gas Buddy, a website that relies on consumers to report the latest prices, listed a half dozen…

In addition to burying solid carbon or sprinkling it on fields, researchers are also turning waste biomass into liquid carbon—oil, essentially, that they pump back into the ground instead of pumping the fossil variety up. “What we do at the highest level is we make barbecue sauce—or liquid smoke for barbecue sauce—and then we inject it into old oil wells,” says Peter Reinhardt, CEO and cofounder of the carbon removal company Charm.They also do this with pyrolysis, which spits out solid char for agriculture, but also…

Terahertz (THz) spectroscopy is an emerging tool in oil shale resource evaluation, offering various applications such as oil identification and THz dating. Scientists are researching its potential, facing challenges but recognizing its significant future role in oil shale exploitation. Credit: SciTechDaily.comResearchers from China University of Petroleum (Beijing) offer a holistic insight into applying terahertz spectroscopy to characterize oil shale.The current understanding of the oil generation potential of oil shale…

Updated Jan. 8, 2024 5:44 am ETShell said its fourth-quarter earnings took a hit of between $2.5 billion and $4.5 billion in impairments that were offset by significantly higher gas trading, while its overall production volumes are on track to meet targets.The London-based energy giant said Monday that the impairments were primarily driven by macro developments as well as portfolio choices, including its Singapore chemicals and products assets, which it has been trying to sell.Copyright ©2024Dow Jones & Company, Inc.…

Updated Jan. 4, 2024 7:20 am ETEnergy company APA has agreed to buy smaller peer Callon Petroleum in a stock-swap deal valued at about $4.5 billion including debt, continuing a wave of consolidation in the energy sector.APA on Thursday said it would issue 1.0425 shares, worth $38.31 based on the Wednesday closing price of $36.75, for each share of Callon, offering a nearly 14% premium to Callon’s closing price.Copyright ©2024Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Updated…

Chevron said it will book $3.5 billion to $4 billion in charges for the fourth quarter, citing challenges tied to regulations in California and previously sold oil and gas production assets in the Gulf of Mexico.Chevron said it will impair a portion of its U.S. upstream assets, mostly in California, due to regulatory challenges in the state that have led to “lower anticipated future investment levels in its business plans.” Chevron said it will continue to operate the affected assets for many years.Copyright ©2024Dow…

Sand, salt, iron, copper, oil and lithium — these foundational materials are literally what the modern world is built on. Without sand for glass, say goodbye to our fiber optic internet. No copper means no conductive wiring. And a world without lithium is a world without rechargeable batteries.For the final installment of Hitting the Books for 2023, we're bringing you an excerpt from the fantastic Material World: The Six Raw Materials That Shape Modern Civilization by Ed Conway. A finalist for the Financial Times and…

On a warm, blustery December afternoon outside the De Laurentis olive oil-producing co-op in the white hilltop town of Ostuni, Puglia, Luigi D'Amico holds out his palm, revealing an olive picked earlier in the day.Instead of resembling the plump, gleaming green and black fruit overflowing in bins around him, this one is half-consumed, dry and shrunken."That's what the olive fly does," he explained. "It lays its larvae, which then devours the olive."D'Amico lists off other pests and fungi — olive leprosy, peacock's eye…