November 18, 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.
- European Oil Giants Step Back From Renewables Path
- Summary: BP and its rivals, Shell and Equinor, are scaling back their low-carbon initiatives to refocus on oil and gas due to profitability challenges and market conditions.
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- Liberty Energy stock jumps after Trump picks CEO Chris Wright as energy secretary
- Summary: Shares of Liberty Energy and Oklo rose after President-elect Donald Trump appointed Chris Wright, CEO of Liberty and board member of Oklo, as the next U.S. Secretary of Energy.
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- US Drillers Cut Oil and Gas Rigs for First Time in Four Weeks
- Summary: U.S. energy firms reduced the number of operating oil and natural gas rigs for the first time in four weeks, bringing the total rig count to 584, a 6% decrease from last year and the lowest since early September, according to Baker Hughes.
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- Oil Prices Tick Higher as Russia-Ukraine Tensions Escalate
- Summary: Oil prices increased due to intensified conflict between Russia and Ukraine, despite concerns about Chinese fuel demand and predictions of a global oil surplus affecting market sentiment.
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- USA EIA Reveals Latest Henry Hub Gas Price Forecast
- Summary: The U.S. Energy Information Administration has adjusted its Henry Hub natural gas price forecast, predicting an average of $2.17 per MMBtu for 2024 and $2.90 for 2025, with prices expected to rise due to increased LNG exports and strong international demand.
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- EPA Finalizes Methane Tax for Oil and Gas Producers Under Inflation Reduction Act
- Summary: The Biden-Harris EPA has implemented a methane fee targeting oil and gas producers who exceed emission thresholds, with penalties ranging from $900 to $1,500 per ton from 2024 to 2026, as mandated by the Inflation Reduction Act.
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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.
