The U.S. Interior Department has announced plans to revise the Bureau of Ocean Management’s risk management and financial assurance regulations and develop a new rule that is in line with the Trump administration’s 2020 proposed regulatory guidelines. The amended measure, based on the 2020 proposed rule, would significantly reduce expenditures and red tape associated with…...
U.S. sustainable aviation fuel (SAF) production has increased so far in 2025, in line with new capacity coming online, according to a May 6 report published by the U.S. Energy Information Administration. U.S. production capacity, which was around 2,000 barrels per day (b/d) at the start of last year, rose to about 25,000 b/d in…...
Crude oil prices and refinery margins declined during the first quarter of 2025, according to a May 1 report published by the U.S. Energy Information Administration. Crude oil prices reached a quarterly high on Jan. 15 and were valued at $82/barrel (b) and settled the quarter at $75/b. The price decline can be attributed to…...
U.S. imports of petroleum products declined by 210,000 barrels per day (b/d) during 2024 to average 1.8 million b/d, according to an April 29 report published by the U.S. Energy Information Administration. Imports of all main transportation fuels declined. Motor gasoline accounts for the highest share of U.S. petroleum product imports, since it is the…...
The Bureau of Land Management’s Montana-Dakotas State Office leased 11 parcels totaling 4,266.06 acres for just over $3.4 million in its quarterly oil and gas sale, according to an April 29 press release. The auction proceeds will be shared between the federal government and the states of North Dakota and Montana. The BLM conducts oil…...
The U.S. Interior Department on April 24 announced a policy enhancement that will increase offshore oil production in the Gulf of America. As part of the executive order issued by President Trump on Jan. 20 titled, “Unleashing American Energy,” the Bureau of Safety and Environmental Enforcement (BSEE) employed new parameters for Downhole Commingling in the…...
The U.S. Interior Department on April 23 announced it will execute emergency permitting procedures to fast track the development of critical minerals and domestic energy sources. The permitting procedures are in line with U.S. President Donald Trump’s executive order declaring a National Energy Emergency in January 2025. The order seeks to prioritize domestic fossil fuel…...
U.S. total petroleum product exports rose to a record annual average of 6.6 million barrels per day (b/d) during 2024, according to an April 23 report published by the U.S. Energy Information Administration. U.S. petroleum product exports during 2024 rose by 495,000 b/d compared to 2023, in line with higher U.S. exports of distillate fuel…...
U.S. crude oil production averaged 13.2 million barrels per day (b/d) during 2024, up by 270,000 b/d compared to the previous year, according to an April 16 report published by the U.S. Energy Information Administration. The increase in crude oil production can be attributed to increased productivity, amid technological advancements and increased efficiency. Majority of…...
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…...