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  • Volume 122, Issue 1

    • Volume 122, Issue 1

    January 2024 | The Pernis refinery, operated by Shell PLC near Rotterdam in the Netherlands, is among the world's largest. With a capacity of 400,000 b/d, the plant is designed to process both light and heavy crude oils into gasoline, diesel, jet fuel, heating oil, lubricants, and petrochemical raw materials. Photo from Shell.
    General Interest

    Journally Speaking: To the moon

    Jan. 17, 2024
    It’s 11:08 p.m. CST, Sunday, Dec. 31, 2023, leaving less than an hour along the final stretch of a year-long road to reach 2024. Following a 3-day streak of near fullness across...
    Government

    Editorial: All systems go

    Jan. 16, 2024
    The Biden administration finished 2023 with Gulf of Mexico Lease Sale 261 bringing in a total of $382 million in high bids. The total was not just a 45% increase from the last...
    General Interest

    EPA’s permit rights decision could lead to carbon capture surge

    Jan. 16, 2024
    The US Environmental Protection Agency’s (EPA) end-December decision to grant Louisiana the power to approve carbon capture projects could open the door to a wave of new project...
    General Interest

    Ahead of earnings reports, majors flag billions in impairments

    Jan. 16, 2024
    Chevron Corp. and ExxonMobil Corp. are two energy giants expected to post billions in impairments as part of upcoming fourth-quarter 2023 earnings reports.
    General Interest

    EOG to keep capital spending, production in line with 2023

    Jan. 16, 2024
    EOG Resources Inc., Houston, will this year keep its capital spending in line with 2023’s roughly $6 billion as it prioritizes returns over production volumes.

    More content from Volume 122, Issue 1

    General Interest

    EIA: Oil prices to average $79/bbl in 2025

    Jan. 16, 2024
    The US EIA predicted in the January 2024 Short-term Energy Outlook that Brent crude oil prices will average $82/bbl in 2024, roughly the same as in 2023, and then fall to $79/...
    General Interest

    Williams to acquire Gulf Coast natural gas storage assets for $1.95 billion

    Jan. 16, 2024
    Williams, Tulsa, Okla., has agreed to acquire a portfolio of natural gas storage assets from an affiliate of Hartree Partners LP for $1.95 billion.
    General Interest

    Howard Midstream wraps major expansion projects

    Jan. 16, 2024
    Howard Midstream Energy Partners has completed a series of projects to expand pipeline, processing, and storage capacities for accommodating increased production of natural gas...
    General Interest

    APA signs $4.5-billion deal to acquire Permian basin-focused Callon Petroleum

    Jan. 16, 2024
    APA Corp. has agreed to acquire Callon Petroleum in a $4.5-billion deal expected to add scale and short-cycle opportunities in the Permian basin and increase the company’s oil...
    World Oil Market At A Glance (Fig. 1).
    Economics & Markets

    OPEC+ faces escalating pressure in 2024

    Jan. 16, 2024
    In 2023, oil demand reached an unprecedented 101.7 million b/d, driven by the rapid expansion of Chinese petrochemical activity and a surge in its demand for NGL feedstocks.
    Haynesville Production (Fig. 1).
    Drilling & Production

    Refracturing increases recovery in mature unconventional assets

    Jan. 16, 2024
    Refracturing previously uncompleted portions of organic shale wellbores can significantly mitigate the expected production plateau from shrinking inventories of new Tier 1 locations...
    Fervo Well Locations (Fig. 1).
    Drilling & Production

    Enhanced geothermal begins in northern Nevada

    Jan. 16, 2024
    Fervo Energy drilled and tested an enhanced geothermal system in the southern margin of the Blue Mountain geothermal field in Churchill County, northern Nevada.
    Global Ethanol Production (Fig. 1).
    Refining & Processing

    ATJ offers viable pathway to increased SAF production

    Jan. 16, 2024
    Operators, policy makers, and industry groups agree that development of production technologies for sustainable aviation fuel (SAF) is a vital pathway to cutting carbon emissions...
    TET-Plaquemines LNG Connectivity. Fig. 1.
    Pipelines & Transportation

    Exports drive North American natural gas pipeline projects

    Jan. 16, 2024
    The US Energy Information Administration (EIA) expects North America’s LNG export capacity to increase to 24.3 bcfd by end-2027 from its current 11.4 bcfd.