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(BOE Report) – The U.S. Environmental Protection Agency on Monday proposed approving Texas’ application to oversee its own permitting for projects to inject carbon dioxide underground, a move long sought by that state’s regulators and oil and gas companies with projects in the wings. EPA Administrator Lee Zeldin said Texas is best positioned to protect its drinking water from contamination while enabling lucrative CO2 injection projects, also known as carbon capture and storage (CCS) projects to mitigate climate change, to proceed. Carbon injection will enable the permanent storage of CO2 emissions from power plants and industrial facilities deep underground, a…

NEW YORK (AP) — U.S. stocks are drifting near their record on Wednesday after a report suggested President Donald Trump’s tariffs are not pushing inflation much higher, at least not yet. The S&P 500 was edging up by 0.1% in morning trading and is just 1.6% below its all-time high set in February. The Dow Jones Industrial Average was up 73 points, or 0.2%, as of 10 a.m. Eastern time, and the Nasdaq composite was 0.2% higher. The action was a bit stronger in the bond market, where Treasury yields eased after a report showed inflation ticked up by less…

URTeC 2025’s day one kicked off at the George R. Brown Convention Center in Houston with a panel on some of the major challenges and opportunities facing unconventional energy resources.  In what became a clear theme for the conference, the panelists discussed the possibility for unconventional resources to shine amidst a fluctuating market for oil, as well as new ways to apply technology and development from tight oil and gas to unconventional resources. Softening oil prices and increased oil supply from OPEC has created a window for other energy sources—from widespread natural gas to emerging geothermal—to see serious consideration, as…

Human-caused climate change boosted Iceland and Greenland ’s temperatures by several degrees during a record-setting May heat wave, raising concerns about the far-reaching implications melting Arctic ice has for weather around the world, scientists said in an analysis released Wednesday.The Greenland ice sheet melted many times faster than normal during the heat wave, according to the analysis by World Weather Attribution, with at least two communities seeing record temperatures for May. Parts of Iceland saw temperatures more than 10°C (18 °F) above average, and the country set a record for its warmest temperature in May when Egilsstadir Airport hit 26.6°C…

WASHINGTON (AP) — U.S. inflation likely picked up a bit last month as President Donald Trump’s tariffs start to bite, but lower prices for gas and possibly for air fares and used cars may limit the overall increase. The government’s inflation report, to be released Wednesday, is forecast to show that consumer prices rose 2.5% in May compared with a year ago, according to economists surveyed by data provider FactSet. That would be the first increase in four months and up from 2.3% in April. Excluding the volatile food and energy categories, core prices are projected to have risen 2.9%…

Google expanded its return-to-office mandate and offered voluntary buyouts for some US-based employees on Tuesday, according to an internal memo viewed by Business Insider.Employees on Google’s Core, Marketing, Research, Knowledge & Information (K&I), and Communications teams all received the buyout offers. K&I includes teams working on Search, ads, and commerce.The return-to-office requirement expands the company’s 2022 RTO mandate, which asked some US-based teams to come into the office 3 days a week, while still offering “work from anywhere” weeks.The company will now require all remote employees on affected teams who live within 50 miles of an office to return to…

(Oil Price) – As if WTI oil prices in the low $60s per barrel aren’t enough to slow production growth at America’s top producing shale basin, the Permian, new guidelines for permitting saltwater disposal wells could raise the costs for operators, especially smaller producers with limited resources. The Railroad Commission of Texas, the energy regulator of the top U.S. oil-producing state, has new guidelines – effective June 1 – for permits for disposal of wastewater, or “produced water”, which is a byproduct of oil and gas production laden with high concentrations of salt, heavy metals, and hydrocarbons. The new guidelines strengthen the Commission’s…

Second expansionIndustry estimates suggest more than 7,500 remaining well locations and at least six geologic production benches could be developed across the region, given additional treating and AGI-CCS well capacity tailored to high concentrations of CO2 and H2S. On this basis, Northwind also announced in March 2025 reaching final investment decision to move forward with a second-phase expansion that would double the Titan complex’s amine-treating capacity to 400 MMcfd by 2026.On Mar. 17, the operator completed issuance of a new $700-million senior-secured first lien term loan, the net proceeds of which Northwind will use to repay existing financing commitments as…

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell again this week, this time by 370,000 barrels in the week ending June 6 after analysts had estimated a 700,000-barrel build. The API reported a 3.3 million barrel inventory decrease in the prior week.So far this year, crude oil inventories are up nearly 18 million barrels, according to Oilprice calculations of API data.Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) climbed 300,000 barrels to 402.1 million barrels in the week ending June 06. Inventory…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldUS oil production will fall next year for the first time since the Covid-19 pandemic, according to a government forecast that will cast new doubt on Donald Trump’s “energy dominance” agenda.The Energy Information Administration, a division of the energy department, on Tuesday said US oil production would drop from a record high of 13.5mn barrels a day now to about 13.3mn barrels by the end of next year, as slumping oil prices rattle the sector.“With fewer active drilling rigs, we…