The U.S. Interior Department on April 10 announced a major increase in projected gas and oil reserves in the Gulf of America Outer Continental Shelf. The announcement is in line with the executive order issued by President Trump on Jan. 31 titled “Unleashing Prosperity Through Deregulation,” which further directs the department to take on actions…...
U.S. crude oil exports exceeded 4.1 million barrels per day (b/d) during 2024, surpassing the previous record set during 2023, according to an April 10 report published by the U.S. Energy Information Administration. Despite the increase in crude oil exports, year-on-year growth slowed to one percent during 2024, compared with 14 percent during 2023 and…...
The U.S. Interior Department on March 27 announced the distribution of around $353.6 million in energy revenues to the four Gulf of America gas and oil producing states. The funds, distributed yearly, are generated from offshore gas and oil production and are allocated to support coastal protection, infrastructure projects and restoration. The Gulf of Mexico…...
Jet fuel accounted for a record high share of U.S. refinery output during 2024 due to higher demand for jet fuel compared to other transportation fuels, according to a March 24 report published by the U.S. Energy Information Administration. Jet fuel, motor gasoline and distillate fuel oil account for over 85 percent of U.S. refinery…...
The U.S. Interior Department is taking actions to expand energy development opportunities in Alaska’s federal lands including the Arctic National Wildlife Refuge and the National Petroleum Reserve-Alaska. President Trump signed an executive order in January, titled Unleashing Alaska’s Extraordinary Resource Potential, to maximize the development and production of natural resources located on both federal and…...
Alaskan crude oil production is forecast to rise by 16,000 barrels per day (b/d) year-on-year during 2026 to 438,000 b/d, according to a March 19 report published by the U.S. Energy Information Administration. The increase in crude oil production in the state can be attributed to two new oil developments: the Nuna and Pikka projects…....
U.S. President Donald Trump on March 15 signed a joint resolution disapproving the Bureau of Ocean Energy Management’s (BOEM) rule named “Protection of Marine Archaeological Resources.”, in order to boost offshore energy development initiatives. This joint resolution nullifies the final rule issued by the BOEM and published under the previous administration in September 2024. The…...
The Bureau of Land Management’s New Mexico State Office leased seven parcels totaling 1,317 acres for $20.67 million in its quarterly oil and gas sale, according to a Feb. 21 press release. The auction proceeds will be shared between the federal government and New Mexico. BLM New Mexico conducts oil and gas lease sales quarterly…...
State taxes and fees on gasoline and diesel fuel as of the start of 2025 have averaged $0.33 per gallon (gal) of gasoline and $0.35/gal of diesel fuel, according to a Feb. 21 report published by the U.S. Energy Information Administration. Average taxes on diesel and gasoline have remained largely flat, rising by less than…...
President Donald Trump on Feb. 14 signed an executive order establishing a council to guide the U.S. towards energy dominance. The National Energy Dominance Council is tasked with providing advice on how best to exercise the President’s authority to increase domestic energy production, including recommending a strategy with long-range goals for achieving energy dominance by…...
