Us oil and gas news

Here are some recent news articles and updates on the US oil and gas industry:

Market News

• Oil prices rise as OPEC+ agrees to modest output increase (Reuters) - The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, agreed to increase oil production by 400,000 barrels per day (bpd) in July, a modest increase that is expected to help ease a global supply shortage.
• US crude oil inventories fall by 2.1 million barrels (API) - The American Petroleum Institute (API) reported that US crude oil inventories fell by 2.1 million barrels last week, a larger-than-expected decline that could support prices.
• Natural gas prices surge as heat wave hits US (Bloomberg) - Natural gas prices in the US surged to their highest level in over a year as a heat wave across the country boosted demand for the fuel.

Company News

• ExxonMobil to invest $20 billion in US shale oil and gas (Reuters) - ExxonMobil announced plans to invest $20 billion in US shale oil and gas over the next five years, a significant increase from its previous investment plans.
• Chevron to buy Anadarko Petroleum for $33 billion (CNBC) - Chevron announced a deal to buy Anadarko Petroleum for $33 billion, a move that will make it one of the largest oil and gas companies in the US.
• Occidental Petroleum to buy Anadarko's Permian Basin assets (Bloomberg) - Occidental Petroleum announced a deal to buy Anadarko's Permian Basin assets for $10.5 billion, a move that will give it a significant presence in the region.

Regulatory News

• US Senate passes bill to boost oil and gas production (The Hill) - The US Senate passed a bill that aims to boost oil and gas production in the US by streamlining the permitting process and reducing regulatory burdens.
• EPA proposes new rules to reduce methane emissions from oil and gas operations (E&E News) - The Environmental Protection Agency (EPA) proposed new rules to reduce methane emissions from oil and gas operations, a move that is expected to reduce greenhouse gas emissions.

Industry Trends

• US oil and gas production reaches record high (Energy Information Administration) - The US Energy Information Administration (EIA) reported that US oil and gas production reached a record high in 2020, driven by growth in shale oil and gas production.
• Renewable energy surpasses fossil fuels in US electricity generation (BloombergNEF) - Renewable energy sources, including wind and solar power, surpassed fossil fuels in US electricity generation for the first time in 2020, according to a report by BloombergNEF.