BILLINGS, Mont. (AP) — Payments to states in the U.S. West have plummeted for oil, natural gas and coal extracted from U.S. lands after low crude prices and the pandemic slowed drilling and mining in many areas in 2020, according to federal data. Nationwide, payments to states for drilling on public lands and in U.S. waters were down by $630 …
FRANKFURT, Germany (AP) — Leaders of the OPEC oil cartel adjourned their virtual meeting Monday on future production as no agreement was announced on whether to extend output cuts into next year. The OPEC nations, led by Saudi Arabia, will reconvene Tuesday, according to a short statement from the cartel’s Vienna headquarters. The talks will include additional members from a …
SANTA FE, N.M. (AP) — State legislators kept a wary eye Tuesday on trends in oil prices and production as the number of active drilling rigs and new wells has plummeted from pre-pandemic levels, threatening a crucial source of state income amid the coronavirus pandemic. A report from the budget and accountability office of the Legislature found that drilling for …
Oil and gas activity continued to drop last quarter, although at a slower rate, according to a survey of executives in the oil and gas industry. Dallas Federal Reserve analysts last week released the Dallas Fed Energy Survey for the third quarter of 2020 after receiving responses from 166 oil and gas industry executives, both in the production and exploration …
ALBUQUERQUE, N.M. (AP) — As New Mexico’s oil and gas industry struggles with lower prices and slowing production brought on by the coronavirus pandemic, some members of Congress and state officials are urging the U.S. Interior Department to allow operators to temporarily plugs wells until prices stabilize. U.S. Rep. Xochitl Torres Small’s district includes part of the Permian Basin, one …
BILLINGS, Mont. (AP) — The Trump administration has started giving energy companies temporary breaks on royalties and rent they pay to extract oil and gas from leases on public lands because of the coronavirus pandemic. The move drew quick criticism as a handout to industry that will mean less money for state governments. A Democratic lawmaker called for an investigation …
LONDON (AP) — Global demand for oil will fall this year by the most ever due to the economic lockdowns enforced around the world to contain the coronavirus pandemic, the International Energy Agency said Wednesday. An estimated drop in demand of 9.3 million barrels a day this year is equivalent to a decade’s worth of growth. The agency, which advises …
DUBAI, United Arab Emirates (AP) — OPEC, Russia and other oil-producing nations on Sunday finalized an unprecedented production cut of nearly 10 million barrels, or a tenth of global supply, in hopes of boosting crashing prices amid the coronavirus pandemic and a price war, officials said. The cartel and other nations agreed to allow Mexico to cut only 100,000 barrels …
DUBAI, United Arab Emirates (AP) — The OPEC oil cartel and nations including Russia have agreed to boost oil prices by cutting as much as 10 million barrels a day in production, or a tenth of global supply. More countries, including the United States, were discussing Friday their own cuts in what would be an unprecedented global pact to stabilize …
MOSCOW (AP) — Oil-producing countries including those of the OPEC cartel and Russia are trying to strike a global deal to pump less crude in a bid to limit a crash in prices that, while welcome for consumers, has been straining government budgets and pushed energy companies toward bankruptcy. Thursday’s videoconference is part of a series of talks on stabilizing …
