Bureau of Safety and Environmental Enforcement Director Scott Angelle is moving the Outer Continental Shelf energy program toward energy dominance for America. Angelle discussed the work underway at BSEE with industry members at the Louisiana Oil & Gas Association Fall Meeting Tuesday in Lafayette. “We are in a time of change,” explained Angelle. “Now is the time to move beyond the goal of energy independence to energy dominance.”
BSEE director charts path for robust offshore U.S. energy production
Ministers from OPEC and its allies look set to keep everyone waiting longer for confirmation of further action to rebalance the oil market, sending conflicting signals on whether they’ll discuss extending or deepening supply cuts in Vienna on Friday.
OPEC keeps oil market guessing over further production cuts
Oil held above $50 a barrel as a decline in U.S. fuel inventories countered a bigger-than-forecast increase in crude stockpiles. November futures dropped 0.5% in New York after climbing 1.6% Wednesday. Gasoline supplies dropped a third week to the lowest level since November 2015, while distillate stockpiles fell by the biggest amount since 2011, according to government data. Crude inventories expanded by 4.59 MMbbl last week, more than the 3.9 MMbbl gain projected in a Bloomberg survey. U.S. oil production also rose a second week.
Oil above $50 as fuel-stockpile drop counters crude-supply gain
Iraq’s Kurdish provinces plan to vote in a referendum on independence on Sept. 25, a poll that regional and Western powers, not to mention the central government in Baghdad, have decried as a catalyst for greater instability in a region gutted by war. At stake are the petrodollars that have helped sustain the Kurdish Regional Government’s semi-autonomous rule after a budgetary deal with the federal government fell apart. Some of this oil wealth lies in disputed areas where the referendum will be held.