News

New Mexico Partners with Oil and Gas Industry to Curb Flaring, Activists Call for its End

Adrian Hedden, Albuquerque Journal | June 19, 2020

New Mexico could be closer to a solution aimed at reducing the use of flaring in its oilfields through a partnership with one of the Permian Basin’s major operators.

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Petroleum industry says demand grew 14 percent last month amid economic reopening

Rachel Frazin, The Hill | June 18, 2020

A major oil and gas industry group said Thursday that demand for petroleum, which fell earlier this year amid the coronavirus pandemic, increased by 14 percent last month over demand in April.

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API’S May Monthly Statistical Report Shows Signs of Recovery Following Gradual Reopening of State Economies

Press@API.org, API Energy | June 18, 2020

The gradual reopening of state economies drove a notable rebound in U.S. energy markets in the month of May with U.S. petroleum demand increasing 14 percent to 16.2 million barrels per day (mb/d), according to data released today in the American Petroleum Institute’s May 2020 Monthly Statistical Report (MSR) and Q2 2020 Industry Outlook.

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Rumors of Fossil Fuels’ Death Are Greatly Exaggerated

Dan K. Eberhart, Inside Sources | June 17, 2020

Oil prices have finally rebounded in recent weeks from below zero after a tumultuous spring with unprecedented pricing pressures on multiple fronts.

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U.S. shale companies to boost oil output by 500,000 bpd by month-end

Devika Krishna Kumar and Jennifer Hiller, Reuters | June 17, 2020

U.S. shale producers are expected to restore roughly half a million barrels per day (bpd) of crude output by the end of June, according to crude buyers and analysts, amounting to a quarter of what they shut since the coronavirus pandemic cut fuel demand and hammered oil prices.

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EMNRD’s Oil Conservation Division Partners with EOG Resources on Flaring Reduction Pilot Test

Susan Torres, State of New Mexico Energy, Minerals and Natural Resources Department | June 17, 2020

Today the Energy, Minerals, and Natural Resources Department’s (EMNRD) Oil Conservation Division (OCD) announces successful initial results of a pilot project with EOG Resources (EOG) aimed at reducing flaring in oil and gas operations. This project is an example of how a public-private partnership can apply innovative technology to solve complex problems.

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