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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- Oil prices flatline as 2024 draws to a close
- 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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- U.S. drillers keep rigs unchanged for third week
- 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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- Redefining winning: Adapting to a new era of energy
- 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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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.
