Valor | Energy Connection – Jan. 13, 2025

January 13, 2025 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.

  • Why Russian oil sanctions are a big deal
  • Summary: In his final days in office, President Joe Biden has implemented comprehensive sanctions targeting Russia’s oil industry, aiming to curtail the nation’s primary revenue source. These measures are designed to limit Russia’s economic capabilities and reduce its influence in global energy markets. The sanctions include targeting major producers, tankers, traders, and insurance companies involved in Russia’s oil trade.
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  1. Russia to continue oil and gas projects despite US sanctions
  2. Summary: Russia has announced its intention to continue oil and gas projects despite recent U.S. sanctions. The Russian Foreign Ministry condemned the sanctions, describing them as attempts to harm Russia’s economy at the risk of destabilizing global markets. Russia asserts it will continue with large oil and gas projects and plans to respond to Washington’s “hostile” actions while formulating its foreign policy strategy.
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  1. Supreme Court rejects oil firms’ bid in Honolulu climate case
  2. Summary: The U.S. Supreme Court rejected an appeal by major oil companies, allowing Honolulu’s climate change lawsuit to move forward in state court. The city accuses these companies of contributing to climate change and seeks compensation for damages like rising sea levels and severe weather. This decision marks a significant step in holding corporations accountable for their environmental impact.
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  • Digital transformation in oil and gas set to grow by $56.4B
  • Summary: The digital transformation market in the oil and gas sector is projected to grow by USD 56.4 billion, with a compound annual growth rate (CAGR) of 14.5% during the forecast period. This growth is driven by increased investments and partnerships aimed at enhancing operational efficiency and reducing costs. Key technologies contributing to this transformation include digital twins, which can lower operating costs and improve maintenance routines.
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  • Natural gas prices rise on cold weather, supply concerns
  • Summary: Natural gas markets have experienced a significant uptick, with prices gapping higher at the start of the trading week. This surge is attributed to colder-than-expected weather in the United States and supply challenges in Europe, leading to increased demand for U.S. natural gas exports. The market is also influenced by geopolitical factors, including disruptions in Russian gas supplies to Europe.
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  1. U.S. drillers cut rigs for first time in six weeks
  2. Summary: U.S. energy firms reduced the number of oil and natural gas rigs by five to 584 in the week ending January 10, 2025, marking the first decline in six weeks. This decrease brings the rig count 6% below the same period last year. The reduction is attributed to energy companies prioritizing debt reduction and shareholder returns over increasing production.
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Contact Valor Today

Contact us today if you need help outsourcing your oil and gas operations.

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.

Valor | Energy Connection – Jan. 6, 2025

January 6, 2025 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.

  • Biden bans offshore drilling, Trump vows reversal
  • Summary: President Joe Biden has banned new offshore oil and gas drilling in most U.S. coastal waters, including the East and West coasts, parts of Alaska, and the eastern Gulf of Mexico, to protect over 625 million acres and promote clean energy. President-elect Donald Trump plans to challenge the ban, emphasizing the economic importance of domestic oil and gas production.
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  1. New York to charge fossil fuel companies $75B under climate law
  2. Summary: New York has enacted a climate cost recovery law that requires fossil fuel companies to pay $75 billion over the next 25 years to cover the costs of environmental damage caused by climate change. This law aims to fund climate-related infrastructure and help mitigate the impacts of global warming in the state.
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  1. Natural gas demand to surge in US amid extreme cold weather conditions
  2. Summary: Natural gas demand in the U.S. is expected to surge due to forecasts of extreme cold weather and snowstorms, which may lead to widespread power outages. This anticipated increase in demand has already caused natural gas prices to rise nearly 25% over the past month.
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  • US oil and gas rigs unchanged for fourth straight week
  • Summary: According to Baker Hughes, the U.S. oil and gas rig count remained unchanged at 589 for the fourth consecutive week as of January 3, 2025. This total is 5% lower than the same period last year, reflecting a continued industry focus on debt reduction and shareholder returns over increased production.
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  • Dallas Fed Energy Survey reveals an improving outlook for oil and gas
  • Summary: The Dallas Federal Reserve’s latest energy survey indicates that 57% of oil and gas executives plan to increase capital spending in 2025, reflecting optimism about the industry’s future. This positive outlook is influenced by expectations of favorable regulatory changes under the incoming Trump administration.
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  1. As Asia’s crude oil imports drop, China demand weakens
  2. Summary: Asia’s crude oil imports declined for the first time in three years in 2024, mainly due to weaker demand from China, the world’s largest importer. While India’s imports grew, China’s and other countries like Japan and South Korea saw declines, influenced by slower economic growth and a shift to alternative fuels.
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Contact Valor Today

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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.

Valor | Energy Connection – Dec. 30, 2024

December 30, 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.

  • Non-traditional countries draw key oil and gas investments
  • Summary: Non-traditional oil and gas producing countries in Latin America, such as Argentina, Guyana, and Suriname, are attracting significant investments to boost production, countering stagnation in traditional producers. For instance, Argentina’s Vaca Muerta formation has led to a 9% annual increase in oil output, reaching 682,000 barrels per day, the highest in two decades.
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  1. Oil prices flatline as 2024 draws to a close
  2. Summary: Oil prices remained stable as 2024 comes to a close, with Brent crude and WTI showing little movement. The market was influenced by ongoing supply and demand balance, as well as global economic conditions and OPEC+ policies. Investors are closely monitoring these factors to predict future price movements in early 2025.
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  1. U.S. drillers keep rigs unchanged for third week
  2. Summary: U.S. energy firms have maintained the number of oil and natural gas rigs at 589 for the third consecutive week, according to Baker Hughes. This total is 5.3% lower than the same period last year, reflecting a broader trend of reduced drilling activity in 2024.
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  1. Redefining winning: Adapting to a new era of energy
  2. Summary: The oil and gas industry must redefine success by embracing innovation, adapting to evolving global priorities, and balancing its vital role in energy security with the moral responsibility of providing reliable and affordable energy.
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  • America’s big natural-gas footprint is about to get even bigger
  • Summary: The U.S. is poised to expand its natural gas exports, with anticipated support from the incoming Trump administration, aiming to enhance global energy security and reduce coal dependence in countries like China and India, despite concerns about increased emissions and market volatility.
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  • EIA: US crude inventories down 4.2 million bbl
  • Summary: U.S. commercial crude oil inventories decreased by 4.2 million barrels to 416.8 million barrels for the week ending December 20, 2024, according to the Energy Information Administration (EIA). This level is approximately 5% below the five-year average for this time of year.
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Contact Valor Today

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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.

Valor | Energy Connection – Dec. 23, 2024

December 23, 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 stable on Monday as data offsets surplus concerns
  • Summary: Oil prices stabilized on Monday, with Brent at $72.56 and WTI at $69.12, as cooling U.S. inflation fueled hopes for rate cuts. A stronger dollar and concerns about a 2025 oil surplus capped gains. Analysts predict lower average prices next year, influenced by China’s peak oil consumption outlook and stable European supplies. Legislative actions in the U.S. also eased market uncertainty.
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  1. Russia calls gas sales to Europe ‘complicated’ as deal with Ukraine nears expiry
  2. Summary: Russia’s decision to halt natural gas sales to Europe raises concerns about energy shortages and higher prices. The EU is intensifying efforts to diversify energy sources, emphasizing LNG imports and renewables, to reduce reliance on Russian supplies.
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  1. ‘Tariffs all the way’: Trump says European Union must buy U.S. oil and gas in trade ultimatum
  2. Summary: President Trump has issued an ultimatum to the European Union, demanding that it increase imports of U.S. oil and gas or face potential tariffs on its exports. This move aims to reduce Europe’s energy dependence on Russia and bolster the American energy sector. The EU has expressed concerns over the potential economic impact and is seeking further negotiations.
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  1. US drillers keep oil and natgas rigs unchanged for second week – Baker Hughes
  2. Summary: U.S. drillers kept oil and gas rigs unchanged at 589 for the second consecutive week. While the oil rig count increased slightly, natural gas rigs decreased. Lower prices and rising costs are leading companies to focus on managing output and increasing efficiency. Projections suggest higher U.S. crude production in 2024 and 2025, with slight declines in natural gas production.
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  • EPA and DOE Announce $850M to Cut Methane Emissions in Oil and Gas Sector
  • Summary: The U.S. EPA and DOE announced $850 million in funding for 43 projects to reduce methane pollution from the oil and gas sector. The initiative targets small operators and Tribes, encouraging the use of advanced technologies to cut emissions and improve efficiency. This funding is part of the administration’s climate goals.
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  • Natural gas prices surge as cold weather boosts demand and LNG outlook
  • Summary: Natural gas prices surged due to colder weather forecasts and increased global demand for U.S. LNG exports. The rising demand is linked to expectations of higher U.S. heating needs and global geopolitical shifts. These factors combined have led to a bullish market outlook for natural gas prices.
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Contact Valor Today

Contact us today if you need help outsourcing your oil and gas operations.

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.

Valor | Energy Connection – Dec. 16, 2024

December 16, 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 Sags on Soft Chinese Spending, Investor Pause Before US Fed Rate Move
  • Summary: Oil prices slipped 0.8% on Monday, with Brent at $73.91 and WTI at $70.71, as weak Chinese consumer spending, profit-taking, and anticipation of the U.S. Federal Reserve’s interest rate decision outweighed last week’s supply-tightening expectations.
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  1. Trump Set to Reverse Biden’s EV Support and Tailpipe Emissions Rules
  2. Summary: The Trump Administration plans to overhaul U.S. electric vehicle policy by eliminating EV tax incentives, rolling back emission and fuel economy standards, reallocating EV infrastructure funds to battery mineral processing, and imposing global tariffs on battery materials to boost domestic production.
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  1. Oil, Gas Groups Issue ‘Urgent Call’ to House Speaker
  2. Summary: A coalition of oil and gas trade associations, representing over 80% of U.S. domestic production, is urging Congress to pass the Energy Permitting Reform Act of 2024 to streamline the lengthy permitting process, boost energy security, and unlock billions in infrastructure investments before the current session ends.
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  1. How AI Energy Demand in 2025 Will Put Natural Gas in the Spotlight
  2. Summary: Natural gas prices are down 13% this year due to mild winters and oversupply, but optimism for 2025 is fueled by rising LNG exports, increased power demand from AI data centers, and regulatory rollbacks expected to boost profitability and infrastructure growth.
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  • Natural Gas Drilling Rig Count Reaches July Highs
  • Summary: U.S. drilling activity remains steady with 589 rigs, down 5% from last year, including 482 crude rigs (down 19), 103 natural gas rigs (down 16 but up 1 week-over-week), and the Permian Basin holding at 304 rigs, down six year-over-year.
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  • California Gas Prices: The State Makes More Money Than Refiners
  • Summary: California’s SB-1322 law, aimed at increasing transparency in gasoline pricing, reveals that refiners’ gross profit margins are minimal, with high gas prices being primarily driven by taxes, fees, and strict fuel regulations rather than excessive profits from oil companies.
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Contact Valor Today

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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.

Valor | Energy Connection – Dec. 9, 2024

December 9, 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 Mixed as Rising Mideast Tensions Offset Demand Concerns
  • Summary: Oil prices fluctuated as Middle East tensions balanced weak demand concerns, influenced by China’s stimulus measures, Saudi price cuts, and upcoming U.S. inflation data.
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  1. California Tackles Fuel Price Volatility Amid Refinery Closure Challenges
  2. Summary: California’s new fuel inventory law seeks to reduce price volatility, but Phillips 66’s refinery closure highlights ongoing supply challenges and increasing reliance on imports.
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  1. Goldman Sachs Maintains 2025 Brent Oil Price Forecast at $76 Per Barrel
  2. Summary: Goldman Sachs holds its 2025 Brent oil forecast at $76 per barrel, citing balanced supply from lower OPEC+ output and rising non-OPEC production, with short-term risks from potential Iran supply disruption.
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  • BP Looks to Sell a Minority Stake in Its U.S. Natural Gas Pipelines
  • Summary: BP is considering selling a 49% stake in its U.S. natural gas pipeline network for up to $3 billion to reduce debt, while also exploring a minority stake sale in its offshore wind business amid industry-wide midstream consolidation.
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  1. US Drillers Add Oil and Gas Rigs for First Time in 8 Weeks
  2. Summary: U.S. energy firms added seven oil and gas rigs this week, the first increase in eight weeks, bringing the total to 589, though still 6% below last year’s count, according to Baker Hughes.
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  • US to Offer Oil, Gas Leases in Alaska Wildlife Refuge on Jan. 9
  • Summary: The Biden administration will auction 400,000 acres in Alaska’s Arctic National Wildlife Refuge for oil and gas drilling on January 9, balancing legal requirements with environmental considerations, while facing opposition from conservation groups.
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Contact Valor Today

Contact us today if you need help outsourcing your oil and gas operations.

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.

Valor | Energy Connection – Dec. 2, 2024

December 2, 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.

  • Thanksgiving Perspective – What a Difference a Decade Makes
  • Summary: A decade after Saudi Arabia’s attempt to dominate the oil market, advanced U.S. extraction techniques have driven a significant resurgence, making the U.S. the world’s leading oil producer for six consecutive years.
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  1. Oil Gains on Chinese Data and Gears of Israel-Lebanon Ceasefire Collapse
  2. Summary: Oil prices rose over 1% due to strong factory activity in China and Middle East tensions, with Brent and WTI climbing amid expectations for OPEC+ discussions on oil policy adjustments.
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  1. Impact of Trump’s Tariffs on Canada on U.S. Gas Prices
  2. Summary: President-elect Donald Trump’s proposed tariffs on Canadian imports, including oil, could increase U.S. fuel prices due to the heavy reliance on Canadian crude, particularly affecting Midwest refineries and ultimately leading to higher pump prices.
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  1. Chinese Oil Giant Launches Another Project
  2. Summary: CNOOC has launched its Huizhou 26-6 oilfield project in the South China Sea, featuring China’s first intelligent offshore drilling platform, with expectations of peak production reaching 20,600 barrels of oil equivalent per day by 2027.
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  • US Drillers Cut Oil and Gas Rigs for Third Week in a Row
  • Summary: U.S. energy firms reduced oil and gas rigs for the third consecutive week, bringing the rig count to its lowest since September (582) amid declining prices, higher costs, and a focus on debt reduction and shareholder returns.
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  • Trump Plans Energy Push to Boost Gas Exports, Oil Drilling
  • Summary: President-elect Donald Trump plans to prioritize energy policies by expanding LNG exports, accelerating federal and offshore drilling, repealing climate regulations, and reviving projects like the Keystone Pipeline.
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Contact Valor Today

Contact us today if you need help outsourcing your oil and gas operations.

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.

Valor | Energy Connection – Nov. 25, 2024

November 25, 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.

  • Trump Prepares Wide-Ranging Energy Plan to Boost Gas Exports, Oil Drilling
  • Summary: Donald Trump’s incoming administration plans to boost U.S. energy production by approving LNG export permits, expediting drilling permits, and increasing offshore oil lease sales, while also repealing key climate policies of the previous administration.
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  1. U.S. Natgas Producers Target AI-Driven Power Demand Surge
  2. Summary: S&P Global Ratings estimates that U.S. data center power demand will increase by 12% annually until 2030, potentially boosting natural gas demand as energy needs expand.
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  1. US Natural Gas Drillers to Lift 2025 Output, Reversing Year of Cuts
  2. Summary: U.S. natural gas production is expected to decline in 2024 for the first time since 2020, with a rebound anticipated in 2025 as rising LNG exports drive a significant increase in gas prices.
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  1. Global Oil, Gas Contract Activity Sees Decrease
  2. Summary: Global oil and gas contract activity declined 35 percent quarter-on-quarter to $35.7 billion in Q3, though volumes remained stable, supported by major projects in the Middle East.
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  • US Drillers Cut Oil and Gas Rigs for Second Week in a Row 
  • Summary: U.S. oil rigs fell week-over-week and saw a year-over-year decrease of 39 rigs, or 6%, as the industry focused on reducing costs and prioritizing financial stability over output expansion.
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  • ConocoPhillips completes acquisition of Marathon Oil Corporation
  • Summary: ConocoPhillips has completed its acquisition of Marathon Oil, enhancing its portfolio with high-quality, low-cost inventory and expecting to deliver over $1 billion in synergies within the next 12 months.
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Contact Valor Today

Contact us today if you need help outsourcing your oil and gas operations.

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.

Valor | Energy Connection – Nov. 18, 2024

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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  1. Liberty Energy stock jumps after Trump picks CEO Chris Wright as energy secretary
  2. 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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  1. US Drillers Cut Oil and Gas Rigs for First Time in Four Weeks
  2. 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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  1. Oil Prices Tick Higher as Russia-Ukraine Tensions Escalate
  2. 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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Contact Valor Today

Contact us today if you need help outsourcing your oil and gas operations.

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.

Valor | Energy Connection – Nov. 4, 2024

November 4, 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.

  • UAE Summit Eyes Energy Expansion Amid Global Uncertainty
  • Summary: The UAE’s oil-and-gas summit focuses on increasing energy output despite global volatility and recent calls for reducing fossil fuels, with officials emphasizing diverse energy strategies and avoiding U.S. political discussions as they maintain close ties with Russia.
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  1. OPEC+ Delays Planned Oil Output Increase Amid Weak Demand and Rising Supply
  2. Summary: Citing weak demand and rising supply, OPEC+ postponed a December output increase by one month, extending existing cuts of 2.2 million barrels per day through December to support the oil market.
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  1. Exxon and Chevron Face Profit Dip as Oil Prices Drop
  2. Summary: Exxon and Chevron reported lower third-quarter profits as oil prices decline amid rising global supply and weaker demand, but both companies remain committed to investor payouts, relying on cost-cutting and cash reserves to weather potential long-term price pressures.
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  1. Canada Unveils Emissions Cap for Oil and Gas Sector to Boost Cleaner Production
  2. Summary: Today, Canada officially released draft regulations to cap oil and gas emissions, targeting a 35% reduction by 2030 and encouraging reinvestment into alternative technologies for global competitiveness.
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  • US Oil and Gas Rig Count Unchanged this Week
  • Summary: The U.S. rig count remained at 585 as of Nov. 1, down 5% from last year, with oil rigs dropping to 479 and gas rigs rising to 102, according to Baker Hughes.
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  • Europe Faces Volatile Gas Prices Despite High Storage Levels
  • Summary: Despite full gas storage, Europe’s reliance on Russian supply and limited alternative sources have led to volatile prices and concerns that gas supply issues may worsen in 2025, especially if winter demand surges.
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Contact Valor Today

Contact us today if you need help outsourcing your oil and gas operations.

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.