While Big Oil News Today

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"Is this the only future left for us?"

The Biden administration is facing lawsuits from both the U.S. oil industry and climate activists over its lease sale plans for the Gulf of Mexico.

Their populist stance on fighting climate efforts have split them from their traditional business allies.

The war in Ukraine has incentivized the European continent to install more solar, but as the momentum for solar energy grows, so grows China’s power position in this market

Democratic Rep. Raul Ruiz, who is seeking re-election in a newly formed district, is being challenged by six Republicans in the states primary election.

With big oil only slowly reaction to higher oil prices, it’s smaller, privately held drillers that are now looking to capitalize on rising prices

A growing number of big oil executives thinks that higher oil prices are here to stay as a result of underinvestment in new production

Uncertainty remains the keyword for both oil and gas markets in 2022, with low inventories and winter weather providing upside risks, while COVID-19 and the ongoing energy transition are the main bearish catalysts

Output from the Permian increased from about 890,000 barrels of oil per day (bopd), up to 4.3 million bpd in the last decade, the report read.