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U.S. crude oil production surged to an all-time high of 13.24 million barrels per day (bpd) in April, according to newly released data from the Energy Information Administration. The increase of 0.4% over March volumes reinforces America’s standing as the world’s top oil producer and follows months of steady gains driven by improved drilling efficiencies and  stronger prices.Texas led the charge with an output of 5.7 million bpd, up 1.6% from March, while New Mexico, the second-largest producing state, posted a 0.7% increase to 1.95 million bpd. Gulf of Mexico volumes dipped slightly, but the national gain offset offshore slippage.The…

Oil edged down after its biggest weekly loss in two years as traders speculated on the volume of an expected OPEC+ supply hike and fears of Middle East tensions disrupting global oil flows dissipated. West Texas Intermediate crude shed 0.6% to settle near $65 a barrel, following a 13% slump last week. Key members of the Organization of the Petroleum Exporting Countries and its allies are ready to consider another 411,000 barrel-a-day increase for August when they meet Sunday, according to several delegates. It would be the fourth month in a row the group agreed on such a bumper hike,…

Elon Musk has a net worth of around $367 billion, according to Bloomberg’s Billionaires Index.His net worth, which is closely tied to Tesla’s share price, received a huge boost following the news that Donald Trump had won reelection in November, as Tesla shares soared to an all-time high in December.But the tech mogul’s wealth comes from a number of sources and it isn’t stable. Musk is currently the world’s richest person and other billionaires are close on his heels, too: Meta CEO Mark Zuckerberg is around $109 billion below Musk, while Jeff Bezos is $14 billion behind Zuckerberg.How has Musk’s…

Witthaya Prasongsin | Moment | Getty ImagesSenate Republicans are threatening to hike taxes on clean energy projects and abruptly phase out credits that have supported the industry’s expansion in the latest version of President Donald Trump’s big spending bill.The measures, if enacted, would jeopardize hundreds of thousands of construction jobs, hurt the electric grid, and potentially raise electricity prices for consumers, trade groups warn.The Senate GOP released a draft of the massive domestic spending bill over the weekend that imposes a new tax on renewable energy projects if they source components from foreign entities of concern, which basically means China.…

ADNOC Drilling has secured a contract valued at up to $800 million by ADNOC Onshore for the provision of integrated hydraulic fracturing services for conventional and tight reservoirs, the UAE-based company announced Monday.  The five-year agreement is set to commence in 3Q 2025, marking another significant milestone in ADNOC Drilling’s evolution as a fully integrated technology-enabled energy services company.  This award further reinforces ADNOC Drilling’s leadership in high-tech oilfield services, combining next-generation equipment, artificial intelligence (AI) and real-time intelligence to deliver smarter, safer and more sustainable energy outcomes.  “This significant contract is a powerful endorsement of ADNOC Drilling’s…

WASHINGTON— The U.S. Department of Energy (DOE) today announced new updates to the Department’s National Environmental Policy Act (NEPA) procedures, fixing the broken permitting process and delivering on President Trump’s pledge to unleash American energy dominance and accelerate critical energy infrastructure. As part of a government-wide effort to restore common sense to permitting, DOE published an interim final rule rescinding all NEPA regulations and published new NEPA guidance procedures for the Department of Energy.“President Trump promised to break the permitting logjam, and he is delivering,” said Energy Secretary Chris Wright. “America can and will build big things again, but we…

The operator also produces renewable fuels, including SAF, at subsidiary Phillips 66 Ltd.’s 221,000-b/d conventional refinery in Humber, North Lincolnshire, England.The period of heightened focus by US refiners to prepare for increased consumer demand for low-carbon, sustainable fuels in which RREC was completed, however, has changed. But while other operators are reportedly quietly canceling projects aimed at more aggressively reducing carbon emissions from US plants, Phillips 66 is maintaining its broader transformational plan of keeping cost and competitive resilience at the forefront of operational decisions.In a June 24, 2025, panel at JP Morgan’s Energy, Power, Renewables & Mining Conference, Mark…

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Petrobras has awarded Fugro four significant multi-year contracts for the inspection and monitoring of critical subsea infrastructure in Brazil. The contract wins strengthen Fugro’s decades-long partnership with Petrobras, building on a history of collaboration that leverages high-tech survey technologies, including underwater robotics, to support responsible energy development in the region, Fugro said in a news release.  the Fugro Aquarius The contracts, once signed, will commence in the fourth quarter of 2025 and span four years with potential one-year extensions. Each of the four day-rate contracts is assigned to a dedicated vessel—two operated by Fugro and two by partner…

Danos Operations Services has been awarded a contract to provide production services for Beacon Offshore Energy’s new deepwater facility in the Gulf of America/Gulf of Mexico — the Shenandoah floating production system. The project will employ production operators, instrumentation and electrical technicians, mechanics, and offshore installation managers. Several employees began work on the platform in 2024.  Beacon Offshore Energy’s Shenandoah floating production platform “We are honored to support Beacon Offshore Energy with production services,” said CEO Paul Danos. “Danos is a people-focused company, and we’re proud to introduce our new partner to the high-performing employees and strong customer…