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By Julianne Geiger – Jul 03, 2025, 2:15 PM CDT The total number of active drilling rigs for oil and gas in the United States fell yet again this week, according to new data that Baker Hughes published on Thursday, following a 7-rig decrease in the week prior.The total rig count in the US fell by 8 to 539 rigs, according to Baker Hughes, down 46 from this same time last year.The number of oil rigs fell by 7 to 425 after falling by 6 during the previous week—and down by 54 compared to this time last year. The number…
President Donald Trump’s One Big Beautiful Bill Act ends long-standing federal support for solar and wind power, while creating a friendly environment for oil, gas and coal production.The House of Representatives passed Trump’s megabill Thursday ahead of a White House-imposed deadline, after the Senate narrowly approved the controversial legislation Tuesday.Trump has made his priorities on energy production clear. The U.S. will rely on oil, gas, coal and nuclear to meet its growing energy needs, the president said last weekend, bashing wind and solar power.”I don’t want windmills destroying our place,” Trump told Fox News in an interview that aired June…
This as-told-to essay is based on a conversation with Patrick Lyons, a 29-year-old ex-Microsoft employee, based in Austin. It’s been edited for length and clarity.After five years at Microsoft, the last three of which I was a product manager for Microsoft Teams, I felt fulfilled and completely secure in my job.I learned new things every day, pushed boundaries, and collaborated with brilliant minds. I saw how people needed me and called upon me at work for my expertise, and it brought me a real sense of purpose.I had also been running three side businesses outside of work for several years,…
China has avoided buying U.S. crude oil for three straight months—the longest dry spell since 2018—delivering another hit to American shale producers already struggling with weak prices and rising global supply.According to new U.S. Census data released Thursday, China bought no American crude in May, following a similar freeze in March and April. The gap comes amid ongoing trade tensions between Washington and Beijing and has dragged total U.S. crude exports to their lowest level in more than two years.The timing couldn’t be worse for shale producers. Benchmark WTI crude recently slipped back below $70 per barrel as geopolitical risk…
Perenco Vietnam and its partners in Block 15-1 have signed a new Production Sharing Contract (PSC) with the Socialist Republic of Vietnam, marking the beginning of a new 25-year chapter for the group in the country. This key milestone enables Perenco to approve the Final Investment Decision for the flagship Phase 2B development project of the Su Tu Trang gas and condensate field, which aims to deliver 125 million standard cubic feet of gas per day over a period of seven years to support Vietnam’s rapidly growing domestic market. “We are deeply grateful to the Socialist Republic of…
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Dairy production will be threatened by the increasing frequency and intensity of heatwaves, a study has found.Drawing on records from more than 130,000 cows over a period of 12 years, the researchers report that extreme heat reduces dairy cows’ ability to produce milk by 10%.Just one hour of wet-bulb temperature – a measure that combines air temperature and humidity – above 26C can reduce a cow’s daily milk production by 0.5%. Exposure to high temperatures also has a prolonged effect, with milk production still lower than typical levels up to 10 days after the initial hot day.Using temperature projections for…
A U.S. court officer on Wednesday officially recommended awarding a $7.38-billion winning bid to mining firm Gold Reserve and investor group Dalinar Energy for PDV Holding, the parent company of Citgo Petroleum, Reuters reported. The move positions Dalinar as the lead contender to seize control of one of the largest independent refiners in the U.S., capping a high-stakes auction that has drawn scrutiny across the board. The bid, which is substantially above the $3.7-billion “floor price” approved in April, would mark the largest attempted takeover of a U.S.-based refining asset by creditors in decades. Citgo, with refining capacity of around 770,000 barrels…
(Investing) – Oil prices slipped lower Thursday, reversing sharp gains from the prior session after data showing an unexpected build in U.S. inventories raised some concerns over sluggish fuel demand. At 08:20 ET (12:20 GMT), for September fell 0.4% to $68.86 a barrel, while dropped 0.3% to $67.27 a barrel. Both contracts soared between 2.5% and 3% on Wednesday after Iran’s suspension of cooperation with the United Nations’ nuclear watchdog ramped up fears of a reescalation in hostilities in the Middle East. But the gains did not hold, especially as markets remained on edge over increasing supplies elsewhere, while concerns over slowing demand…
The Energy Workforce & Technology Council (EWTC) on Thursday released its June 2025 jobs report, reflecting a modest dip in employment within the energy services sector amid continued economic uncertainty. Total jobs in the sector fell to 635,077 in June, a decrease of 3,153 positions from May, according to preliminary data from the Bureau of Labor Statistics (BLS) and analysis by the Energy Workforce & Technology Council. Nationally, the U.S. economy added 147,000 jobs in June, and the unemployment rate held steady at 4.1%, according to data released Thursday by the Labor Department. While overall job growth remained positive,…