Daily Energy Posts

The U.S. oil and gas rig count rose by one to 593 for the week ending February 28 according to Baker Hughes, closing the month with four consecutive weeks of increases and a total gain of 11 rigs for the month.

Crude oil flows from the Permian Basin to the U.S. Gulf Coast edged up nearly 1% in September 2024, reaching 5.69 MMb/d — a 54 Mb/d increase from August, according to the latest monthly data from the Texas Railroad Commission.

Light Louisiana Sweet (LLS)'s price differential to NYMEX DSW has increased sharply in recent weeks as tariffs and political embargoes threaten to tighten the supply and increase the cost of imported crude oil into the U.S. Gulf.

Tariffs on U.S. imports of Canadian goods of 25% are scheduled to start March 4, with energy products enjoying a reduced tariff of 10%.

Whoever Smelt It... Methane Emissions Fine Overturned

Crude stocks dipped, WTI hit a new low, and crack spreads collapsed last week

Canadian oil and gas drilling remains largely on autopilot, cruising sideways until spring break up later in March or early April.

There was plenty of speculation about whether the long-delayed rule around the 45V tax credit for clean hydrogen production, which was published in the waning days of the Biden administration, would put it at risk of reversal by the Republican-led Congress under the Congressional Review Act.

MPLX has acquired the final 55% of ownership in the BANGL pipeline