October 21, 2024 Edition
At Valor, our goal is to keep you informed of the latest news and updates from the oil and gas industry. We are committed to sharing the insights and knowledge that our team gathers to help you stay ahead in this dynamic sector. From mergers and acquisitions to regulatory changes and technological advancements, we cover all the key developments that impact the industry. Stay tuned for weekly updates to keep you well-informed.
- Oil Prices Regain Some Ground After 7% Loss Last Week
- Summary: Oil prices rebounded on Monday, recovering some of last week’s over 7% drop amid concerns about slowing demand in China and easing Middle East supply risks, with support from Saudi Aramco’s bullish outlook on China’s oil demand and geopolitical tensions.
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- Texas Natural-Gas Pipeline Eases Bottlenecks, Paves Way for Higher Shale Output
- Summary: The new Matterhorn pipeline has eased Permian gas bottlenecks, raising prices and boosting oil production, but may reach capacity within 12 to 18 months, causing renewed constraints in 2026.
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- Supreme Court to Review Challenges to EPA Pollution Rules
- Summary: The U.S. Supreme Court will hear appeals from Republican-led states and energy companies contesting whether lawsuits against the EPA’s smog control and biofuel waiver policies should be heard in local or national courts.
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- Oil, Gas Companies Set To Spend More in 2025
- Summary: Global investments in oil and gas by the 23 largest producers are set to rise over 60% by next year, driven by a slower-than-expected energy transition, with companies focusing on upstream production and consolidation while continuing to invest in low-carbon projects.
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- Another Major Oil Company Plans to Relocate from California
- Summary: Phillips 66 is planning to relocate, following Chevron’s move, potentially as as result of California’s increased regulations that have led to higher fuel costs and operational challenges, highlighting the tension between the state’s ambitious climate goals and their economic impact on the energy sector.
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- JP Morgan Says Peak Oil Demand Is Nowhere In Sight
- Summary: JP Morgan’s Christyan Malek dismissed predictions of peak oil demand, arguing that emerging market consumption will continue to drive global demand growth beyond 2024, while supply struggles to keep pace, leading to a tightening market and sustained higher oil prices throughout the decade.
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The information provided by Valor in this blog is for general informational purposes only, not to provide specific recommendations or legal or tax-related advice. The blog/website should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
