#Bakken Crude Oil

[lilithism1848]

Atrocities US committed against NATIVE AMERICANS

In 2016, the US army corp of engineers approved a Energy Transfer Partners’ proposal to build an oil pipeline near the Standing Rock Indian Reservation, sparking the Dakota Access Pipeline Protests, evoking a brutal response from North Dakota police aided by the National Guard, private security firms, and other law enforcement agencies from surrounding states. The Standing Rock Sioux tribe believes that the pipeline would put the Missouri River, the water source for the reservation, at risk, pointing out two recent spills, a 2010 pipeline spill into the Kalamazoo River in Michigan, which cost over billion to clean up with significant contamination remaining, and a 2015 Bakken crude oil spill into the Yellowstone River in Montana. Police repression has included dogs attacking protesters, spraying water cannons on protesters in sub-freezing temperatures, >700 arrests of Native Americans and ~200 injuries, a highly militarized police force using armored personnel carriers, concussion grenades, mace, Tasers, batons, rubber bullets, and tear gas. In November 2017, the keystone XL pipeline burst, spilling 210,000 gallons of oil in Amherst, South Dakota. 

In 1975, FBI agents attacked AIM activists on the Pine Ridge Reservation, in the ‘Pine Ridge Shootout’. Two FBI agents, and an AIM activist were killed. In two separate trials, the U.S. prosecuted participants in the firefight for the deaths of the agents. AIM members Robert Robideau and Dino Butler were acquitted after asserting that they had acted in self–defense. Leonard Peltier was extradited from Canada and tried separately because of the delay. He was convicted on two counts of first–degree murder for the deaths of the FBI agents and sentenced to two consecutive terms of life in prison, after a trial which is still contentious. He remains in prison.

In 1973, 200 Oglala Lakota and AIM activists occupied the town of Wounded Knee, South Dakota, on the Pine Ridge Reservation, called the Wounded knee incident. They were protesting the reservation’s corrupt US-backed tribal chairman, Dick Wilson, who controlled a private militia, called Guardians of the Oglala Nation (GOONs), funded by the government. FBI, US marshals, and other law enforcement cordoned off the area and attacked the activists with armored vehicles, automatic rifles, machine guns, grenade launchers, and gas shells, resulting in two killed and 13 wounded. Ray Robinson, a civil rights activist who joined the protesters, disappeared during the events and is believed to have been murdered. As food supplies became short, three planes dropped 1,200 pounds of food, but as people scrambled to gather it up, a government helicopter appeared overhead and fired down on them while groundfire came from all sides. After the siege ended in a truce, 120 occupiers were arrested. Wilson stayed in office and in 1974 was re-elected amid charges of intimidation, voter fraud, and other abuses. The rate of violence climbed on the reservation as conflict opened between political factions in the following three years; residents accused Wilson’s private militia of much of it. 

In Nov. 1969, a group of 89 Native Americans occupied Alcatraz Island for 15 months, to gauge the US’s commitment to the Treaty of Fort Laramie (1868), which stated that all abandoned federal land must be returned to native people. Eventually the government cut off all electrical power and all telephone service to the island. In June, a fire of disputed origin destroyed numerous buildings on the island. Left without power, fresh water, and in the face of diminishing public support and sympathy, the number of occupiers began to dwindle. On June 11, 1971, a large force of government officers removed the remaining 15 people from the island.

From its creation in 1968, The American Indian Movement (AIM) has been a target of repression from law enforcement agencies, and surveillance as one of the FBI’s COINTELPRO targets. This includes the wounded knee incident and the pine ridge shootout. 

In 1942 the federal government took privately held Pine Ridge Indian Reservation land owned by tribal members in order to establish the Badlands Bombing Range of 341,725 acres, evicting 125 families. Among the families evicted was that of Pat Cuny, an Oglala Sioux. He fought in World War II in the Battle of the Bulge after surviving torpedoing of his transport in the English Channel. Dewey Beard, a Miniconjou Sioux survivor of the Wounded Knee Massacre, who supported himself by raising horses on his 908-acre allotment received in 1907 was also evicted. The small federal payments were insufficient to enable such persons to buy new properties. In 1955 the 97-year-old Beard testified of earlier mistreatment at Congressional hearings about this project. He said, for “fifty years I have been kicked around. Today there is a hard winter coming. …I might starve to death.”

In 1890, US soldiers killed 150-300 people (including 65 women and 24 children) at Wounded Knee (19-26 people, including two women and eleven children.) on the Lakota Pine Ridge Indian Reservation in the U.S. state of South Dakota. Twenty-five soldiers also died, and 39 were wounded (6 of the wounded later died). At least twenty soldiers were awarded the Medal of Honor. The event was driven by local racism towards the practice of Ghost Dancing, which whites found distasteful, and the Native Americans arming up in response to repeated broken treaties, stolen land, and their bison-herds being hunted to near extinction by the whites.

In 1887, the Dawes Act, and Curtis Act, resulted in the loss of 90 million acres of native-alloted land, and the abolition of many native governments. During the ensuing decades, the Five Civilized Tribes lost 90 million acres of former communal lands, which were sold to non-Natives. In addition, many individuals, unfamiliar with land ownership, became the target of speculators and criminals, were stuck with allotments that were too small for profitable farming, and lost their household lands. Tribe members also suffered from the breakdown of the social structure of the tribes.

Starting in the 1870s, The US army, aided by settlers and private hunters, began a widespread policy of slaughtering bufallo and bison, in order to destroy many tribe’s primary food source, and to starve Native Americans into submission. By 1900, they succeeded; the bufallo population dropped from more than 30 million, to a few hundred. The country’s highest generals, politicians, and presidents including Ulysses S. Grant, saw the destruction of buffalo as solution to the country’s “Indian Problem.” By destroying the food supply of the plains natives, they could more easily move them onto reservations.

Starting in 1830-50, The Trail of Tears was a series of forced removals of Native American nations, including Chickasaw, Choctaw, Creek, Seminole, Cherokee people and the African freedmen and slaves who lived among them, from their ancestral homelands in the Southeastern United States to an area west of the Mississippi River that had been designated as Native Territory. The forced relocations were carried out by various government authorities following the passage of the Indian Removal Act in 1830. “Marshaled by guards, hustled by agents, harried by contractors,they were being herded on the way to an unknown and unwelcome destination like a flock of sick sheep.” They went on ox wagons, on horses, on foot, then to be ferried across the MississippiRiver. The army was supposed to organize their trek, but it turned over its job to private contractors who charged the government as much as possible, gave the Indians as little as possible. The Cherokee removal in 1838 (the last forced removal east of the Mississippi) was brought on by the discovery of gold near Dahlonega, Georgia in 1828, resulting in the Georgia Gold Rush. Approximately 2,000-6,000 of the 16,543 relocated Cherokee perished along the way.

In 1848, the California Genocide is a term used to describe the drastic decrease in Native American population in California. The population decreased from ~300,000 in 1769, to 16,000 in 1900. 

The Second Seminole War, also known as the Florida War, was a conflict from 1835 to 1842 in Florida between various groups of Native Americans collectively known as Seminoles and the United States, part of a series of conflicts called the Seminole Wars. The Second Seminole War, often referred to as the Seminole War, is regarded as “the longest and most costly of the Indian conflicts of the United States.” ~3000 seminoles were killed, and 4000 were deported to Indian territory elsewhere. 

In 1832, the Black Hawk War, was a brief 1832 conflict between the United States and Native Americans led by Black Hawk, a Sauk leader, in Illinois. The war gave impetus to the US policy of Indian removal, in which Native American tribes were pressured to sell their lands and move west of the Mississippi River and stay there. Over 500 Native Americans were killed in the conflict.

In 1832, the Chickasaw Indians were forced by the US to sell their country in 1832 and move to Indian Territory (Oklahoma) during the era of Indian Removal in the 1830s.

In 1813, the Creek War, was a war between the US, lead by the then notorious indian-hunter Andrew Jackson, and the Creek nation, residing primarily in Alabama. Over 1,500 creeks were killed. The war effectively ended with the Treaty of Fort Jackson, where General Andrew Jackson insisted that the Creek confederacy cede more than 21 million acres of land from southern Georgia and central Alabama. These lands were taken from allied Creek as well as Red Sticks. In 1814, Andrew Jackson became famous for his role in the Battle of Horseshoe Bend, where his side killed more than 800 Creeks. Under Jackson, and the man he chose to succeed him, Martin Van Buren, 70,000 Indians east of the Mississippi were forced westward.

The Red Sticks, a faction of Muscogee Creek people in the American Southeast, led a resistance movement against European-American encroachment and assimilation; tensions culminated in the outbreak of the Creek War in 1813.

From 1785-96, the Northwest Indian War was a war between the US and a confederation of numerous Native American tribes, with support from the British, for control of the Northwest Territory. President George Washington directed the United States Army to enforce U.S. sovereignty over the territory. Over 1,000 Native Americans were killed in the bloody conflict.

In the 1800s, Indian removal was a policy of the United States government whereby Native Americans were forcibly removed from their ancestral homelands in the eastern United States to lands west of the Mississippi River, thereafter known as Indian Territory. That policy has been characterized by some scholars as part of a long-term genocide of Native Americans. 

The Texan-Indian Wars were a series of 19th-century conflicts between settlers in Texas and the Southern Plains Indians. Its hard to approximate the number of deaths from the conflicts, but the Indian population in Texas decreased from 20,000 to 8,000 by 1875.

The Indian Wars is a name given to the collection of over 40 conflicts and wars between Native Americans and US settlers. The US census bureau reports that they have cost the lives of about 19,000 white men, women and children, including those killed in individual combats, and the lives of about 30,000 Indians. The actual number of killed and wounded Indians must be very much higher than the number given… Fifty percent additional would be a safe estimate.

From 1500-1900s, European and later US colonists and authorities displaced and committed genocide on the Native American Population. Ward Churchill characterizes the reduction of the North American Indian population from an estimated 12 million in 1500 to barely 237,000 in 1900 as a “vast genocide.. the most sustained on record.

[rhodoforwinter]

[Crossposted from Instagram]

View this post on Instagram

A post shared by Quin Reed (@quintessentialquinny)

The Dakota Access Pipeline (or DAPL) is a federally commissioned pipeline carrying ~19 million gallons of petroleum oil per day.

DAPL receives the crude oil through the Bakken Oil Field, a major site for hydraulic fracturing—fracking.

The pipeline runs along the Missouri River's watershed, which provides drinking water for millions of people, including members of the Standing Rock Reservation.

Against the fierce protests of Indigenous people, former president Donald Trump signed an executive order that endorsed its construction in 2017. That year, DAPL leaked at least five times.

A review of the pipeline's effects has never been conducted. Sioux activists (of Standing Rock and other Indigenous reservations) have been repeatedly brushed off—or worse. Multiple videos illustrate the police's use of force—rubber bullets, water cannons, and concussion grenades.

The federal government of the United States of America has yet again decided to rear its ugly head and make clear its apathy to the sovereignty and rights of Indigenous people.

Stand with Indigenous people, environmentalists, social advocates of all kinds.

Please.

[industryforecastnews]

Alpha Olefin Market Size To Reach USD 14.63 Billion By 2030

Alpha Olefin Market Growth & Trends

The global alpha olefin market size is expected to reach USD 14.63 billion by 2030, registering a CAGR of 5.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing demand for polyethylene and synthetic lubricants is driving demand for these products.

Increasing polyethylene demand from various end-use industries is expected to remain a key driving factor for the global market. Surge in demand can be attributed to its easy processability, versatility, recyclability, and low cost of production. Growing population and increasing consumer spending, coupled with increasing industrial output in emerging markets of China, India, Brazil, and Mexico, have fueled polyethylene consumption.

Growing demand for polyalphaolefin in synthetic lubricants, because of its ability to protect engines from wear and tear damages, is also expected to fuel market growth over the forecast period. Synthetic lubricants exhibit high demand owing to increasing usage in industrial, automotive, marine, and aerospace industries. These lubricants are gaining wide acceptance due to its benefits such as reduction in oil consumption and increased thermal stability.

Increasing oilfield activities and petrochemical production in Middle East have propelled ethylene production, thereby assisting the growth of the alpha olefin market in the region. Major manufacturers are also aiming to shift their production base in MEA, owing to the abundant availability of raw material.

Request a free sample copy or view report summary: https://www.grandviewresearch.com/industry-analysis/alpha-olefins-market

Oil drilling activities in the United States have emerged as a major driving force for the country's market. The U.S. has experienced a significant surge in oil drilling activities, particularly in regions such as the Permian Basin in Texas and New Mexico, the Bakken Formation in North Dakota, and the Eagle Ford Shale in Texas. These drilling activities have not only bolstered the nation's oil production but have also contributed to the increased availability of ethylene, a key raw material for alpha olefin production.

The abundant supply of ethylene from these oil drilling activities has been instrumental in meeting the growing demand for alpha olefins in the market. For instance, the Permian Basin, one of the most prolific oil-producing regions in the U.S., has witnessed remarkable growth in drilling activities, leading to a surge in crude oil and natural gas production. This surge has resulted in the availability of ethane, a component of natural gas liquids, which serves as a vital raw material for the production of alpha olefins. The presence of ethane from these drilling activities has not only enhanced the raw material supply but has also contributed to the stability of the market in the U.S. Moreover, the expansion of key market participants in the U.S. has been closely linked to the surge in oil drilling activities.

Alpha Olefin Market Report Highlights

By product, the 1-Hexene segment is anticipated to exhibit a revenue-based CAGR of 5.8% from 2024 to 2030. It is used in large quantities in the production of polyethylene, which is used in various end-use industries such as packaging, consumer goods, and automotive

By application, polyethylene production dominated the market in terms of revenue, with a share of over 55% in 2023 owing to growing need for lightweight, durable plastics. Infrastructural development in emerging countries such as China, India, and Brazil has boosted demand for high-density polyethylene (HDPE) pipes and cables

Industry participants are focusing on developing new and sustainable products, along with various R&D activities to fulfill the demand stemming from local markets

Regional Insights

The North America alpha olefin market dominated globally with a revenue share of 39.3% in 2023. The surge in shale gas production in the U.S. has led to an increase in ethylene production, subsequently driving the production of alpha olefins. Furthermore, the ongoing oil exploration activities in the Gulf of Mexico are poised to boost market growth further. Similarly, the rise in crude oil production in Canada is expected to drive alpha olefin production even further in the region.

Europe Alpha Olefin Market Trends

The alpha olefins market in Europe is the second largest market in 2023. The region's focus on sustainable production methods and the rising trend of bio-based alpha olefins are shaping the market. In addition, the growing emphasis on specialty chemicals and performance products is contributing to the market's expansion.

Asia Pacific Alpha Olefin Market Trends

The Asia Pacific alpha olefins market is expected to grow significantly from 2024 to 2030. The market is witnessing substantial growth due to the burgeoning packaging industry, rapid industrialization, and the expansion of the automotive sector. The region's strategic investments in research and development and the growing focus on specialty chemicals are also contributing to the market's progress.

Alpha Olefin Market Segmentation

Grand View Research has segmented the global alpha olefin market report based on product, application, and region

Alpha Olefin Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

1-Butene

1-Hexene

1-Octene

1-Decene

1-Dodecene

Others

Alpha Olefin Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

Polyethylene

Detergent Alcohol

Synthetic Lubricant

Others

Alpha Olefin Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

North America

Europe

Asia Pacific

Central & South America

Middle East and Africa

List of Key Players of Alpha Olefin Market

Chevron Phillips Chemical Company LLC

Exxon Mobil Corporation

Petrochemicals (Malaysia) Sdn. Bhd.

INEOS Oligomers

Mitsubishi Chemical Corporation

SABIC

Sasol

Shell plc

Jam Petrochemical

Dow

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/alpha-olefins-market  

[worldmarketus]

Crude oil production in the US-output to rise to record 12.76m bpd

Introduction

For decades, crude oil production in the United States has been a major driver of both the national and global economies. In this article, we will examine the state of crude oil production in the United States, its impact, and the key factors influencing this critical industry.

The U.S. Crude Oil Production Landscape

Over the last few decades, the United States has seen a remarkable resurgence in crude oil production. This expansion has primarily been attributed to advances in drilling technology, specifically hydraulic fracturing (fracking), which has liberated vast reserves of oil from shale formations. As a result, the United States has risen to become one of the world’s leading crude oil producers.

Crude oil production in the US

Key Production Regions

Several regions in the U.S. are significant contributors to the nation’s crude oil production. The most notable among these are:

Texas: The Lone Star State stands out as the leading crude oil producer in the U.S. The Permian Basin, located in West Texas, is a major hotspot for oil production, attracting significant investment and activity.

North Dakota: The Bakken Formation in North Dakota has also played a pivotal role in U.S. crude oil production. It has witnessed substantial growth in recent years, making North Dakota one of the top oil-producing states.

Gulf of Mexico: Offshore drilling in the Gulf of Mexico remains a vital component of U.S. C.O. production. Many offshore platforms and rigs operate in this region.

Impact on the Economy

The crude oil production industry has a significant impact on the American economy. Thousands of people are employed in drilling, transportation, refining, and related industries, which contribute significantly to job creation. Furthermore, the industry generates significant tax revenue for local and federal governments, which can be used to fund a variety of public services.

Environmental Considerations

While increased C.O. production has benefited the economy, it has also raised environmental concerns. Fracking and other extraction methods have been linked to groundwater contamination and seismic activity. Furthermore, the use of fossil fuels, such as crude oil, contributes to greenhouse gas emissions and climate change. As a result, there is a growing emphasis on developing more sustainable and cleaner energy alternatives.

Future Outlook

Various factors influence the future of US C.O.Production, including global oil demand, environmental regulations, and advancements in renewable energy sources. While the industry remains important to the economy, there is growing recognition of the need to transition to more sustainable energy practices.

To summarize, crude oil production in the United States remains an important industry with significant economic implications. Because of technological advancements and abundant reserves, the United States has emerged as a global powerhouse in oil production. However, the industry faces environmental challenges as well as the transition to cleaner energy sources. The landscape of US C.O. production is likely to evolve in the coming years as the country navigates these challenges, shaping both economic and environmental outcomes.

[commercialawarenesstoday]

Chevron and Exxon’s latest buys could usher in a new era of oil megamergers

Chevron and Exxon announced new acquisitions this month, and industry watchers say it could be the start of more multibillion megadeals to come.

“The big-money acquisition of Hess by Chevron and Hess accelerates the trend of consolidation and big-money deals,” Rystad Energy said in a note.

Energy heavyweights Chevron and Exxon Mobil announced shiny new acquisitions this month — and some industry watchers say it could be the start of more multibillion megadeals to come.

Chevron on Monday said it’s buying Hess for $53 billion in stock, allowing Chevron to take a 30% stake in Guyana’s Stabroek Block — estimated to hold some 11 billion barrels of oil.

The announcement comes just weeks after Exxon Mobil announced its purchase of shale rival Pioneer Natural Resources for $59.5 billion in an all-stock deal. While this marks Exxon’s largest deal since its acquisition of Mobil, the merger would also double the oil giant’s production volume in the largest U.S. oilfield, the Permian Basin. 

“The big-money acquisition of Hess by Chevron accelerates the trend of consolidation and big-money deals,” energy consultancy Rystad Energy said in a note.

Although Chevron’s acquisition is the continuation of a story started by the Exxon-Pioneer deal, its motivation and impact is slightly different, the note stated.

Exxon is zoning in on its core operations in the Permian basin, while Chevron has decided to expand into where it does not yet have existing assets: Guyana and the Bakken shale.

Kpler’s economist Reid I’Anson said the Exxon-Pioneer deal is “likely a bit less risky” compared to the Chevron-Hess deal.

Exxon will see more immediate returns and Pioneer alone would add 711,000 barrels per day, he said comparing it to just 386,000 barrels per day from Hess. 

“However, the Chevron acquisition likely has more upside given the future production growth potential out of Guyana,” he noted.

That said, both Exxon and Chevron’s megadeals are indicative of a larger, overarching ambition.

The two oil giants plan to continue pumping investments into fossil fuels as demand for crude remains strong, especially amid tightening global supplies fueled by years of chronic underinvestment. 

Consolidation has been a focus in the North American shale space in the past year, especially in the Permian basin where larger exploration and production (E&Ps) have “swallowed up” smaller operations in the bid to bolster drilling inventories and boost free cash flow, Rystad’s senior shale analyst Matthew Bernstein told CNBC. 

The upstream segment of the oil and gas industry refers to the exploration for oil or gas deposits, as well as extraction and production of those materials.

The Permian basin is a shale patch that sits between Texas and Mexico, which saw a slew of deals this year.

“These megadeals are just a prelude to this large investment wave I expect in coming years,” Bob McNally, president of Rapidan Energy Group, told CNBC via email. With Exxon deepening its presence in the U.S. shale sector, and Chevron’s eyes on Guyana, the two deals will instill more confidence in the wider oil industry to overcome any hesitation and invest in oil and gas, McNally continued.

“These deals signify the shift from a multi-year bust phase in oil that began in 2014 to a multi-year boom phase that should last well through this decade,” he forecasts.

No peak demand for oil just yet?

The deals by the two largest publicly traded major oil companies appear to confirm that crude oil demand will remain strong over the long term, said Andrew Woods, Mintec’s industrial analyst.

Dan Pickering, founder of Pickering Energy Partners, echoed similar sentiments, saying that both energy behemoths believe oil demand has not yet peaked.

On Tuesday, the International Energy Agency reported that demand for oil, coal and natural gas is set to peak before the end of the decade, on the back of rising clean energy technologies.

A peak in oil demand refers to the point in time when the highest level of global crude demand is reached, in which a permanent decline would then follow. This would theoretically decrease the need for investments in crude oil projects as other energy sources take precedence. 

“We are clearly entering into a period of consolidation,” Pickering said, adding it is not just megadeals that the oil industry will be seeing, but also many “merger-of-equals” amongst small or mid-sized companies with market capitalizations between $3 billion to $30 billion.

Pickering said investors currently do not want volume growth, but prefer capital discipline — a shift from focusing on production volume to a focus on financial value.

“Instead of drilling to grow production or cash flow, companies are now combining to gain scale, lower costs and grow earnings and cash flow without meaningful incremental volumes,” he said.

[head-post]

US oil company Chevron buys Hess

US oil giant Chevron announced the purchase of Hess for $53 billion amid rising crude oil prices.

Crude oil prices have jumped 9 per cent this year and remain at around $90 a barrel for about two months now.

The Chevron-Hess deal came less than two weeks after Exxon Mobil announced it would purchase Pioneer Natural Resources for about $60 billion. Chevron stated on Monday that the Hess acquisition would add a large oil field in Guyana as well as shale acreage in the Bakken Formation in North Dakota.

The company valued the deal at $60 billion including debt. It will pay for Hess with stock and Hess shareholders will receive 1.0250 Chevron shares for each Hess share.

Learn more HERE

[the-art-of-investing-in-stocks]

Harbour Energy PlC: A Global Leader in Oil and Gas Exploration and Production

Harbour Energy PlC, formerly known as LON HBR, is a leading independent oil and gas exploration and production company. The company operates in a diverse range of regions, including the UK, Norway, the United States, and Southeast Asia. With a proven track record of delivering value to its stakeholders, Harbour Energy PlC has become a trusted name in the energy industry.

History and Background

Harbour Energy PlC traces its roots back to the formation of Energy XXI in 2005. Energy XXI was created with the goal of becoming a leading operator in the Gulf of Mexico. The company achieved rapid growth, and in 2014, it acquired EPL Oil & Gas, a publicly traded company, for $2.3 billion. The acquisition increased Energy XXI's production capabilities and expanded its asset base.

In 2018, Energy XXI underwent a restructuring process that resulted in the creation of Harbour Energy. Harbour Energy continued to focus on oil and gas exploration and production, and it expanded its operations beyond the Gulf of Mexico. In 2021, the company changed its name to Harbour Energy PlC to reflect its evolution into a global player in the energy industry.

Operations

Harbour Energy PlC has a diverse portfolio of assets that span the globe. In the UK, the company operates the Catcher and Kraken fields, which are located in the North Sea. The Catcher field produces crude oil, while the Kraken field produces both crude oil and natural gas. In Norway, Harbour Energy PlC has an interest in the Wintershall Dea-operated Nova field, which produces natural gas.

In the United States, Harbour Energy PlC has operations in the Gulf of Mexico and the Rocky Mountains. In the Gulf of Mexico, the company operates the South Pass 78 and Main Pass 252 fields, which produce crude oil and natural gas. In the Rocky Mountains, Harbour Energy PlC has a significant presence in the Williston Basin, where it produces crude oil from the Bakken formation.

In Southeast Asia, Harbour Energy PlC has a 50% interest in the Sinphuhorm gas field, which is located in Thailand. The field produces natural gas, which is sold to the local market.

Financial Performance

Harbour Energy PlC has a strong financial position, with a market capitalization of over £2.7 billion as of April 2023. The company reported revenues of $1.8 billion in 2021, an increase of 52% compared to the previous year. The increase in revenue was driven by higher production volumes and higher oil and gas prices.

Harbour Energy PlC is committed to delivering value to its stakeholders. In 2021, the company announced a dividend of $0.04 per share, which was paid in two instalments. The company also launched a share buyback program, which allows it to repurchase up to $100 million worth of its own shares.

Outlook

Harbour Energy PlC is well positioned to capitalise on the growing demand for energy around the world. The company has a diverse range of assets that provide it with a degree of resilience in the face of changing market conditions. Harbour Energy PlC is committed to responsible energy production and is actively investing in renewable energy technologies.

In conclusion, Harbour Energy PlC is a leading independent oil and gas exploration and production company with a strong track record of delivering value to its stakeholders. The company's diverse portfolio of assets and strong financial position make it well positioned to capitalise on the growing demand for energy around the world. Harbour Energy PlC is committed to responsible energy production and is actively investing in renewable energy technologies to ensure a sustainable future.

Also Check Out:

LON SOLG

LON SAR

LON QBT

[guerrerense]

Stripes are in again this year por Ken Wilkerson Por Flickr: CREX (Citicorp Railmark Inc.) 1411 heads up CSX empty crude oil train K141 and has knocked down the signal at Willow Creek Jct. in Portage, Indiana on CSX's former B&O Garrett Sub. He will be hitting the diamond with CSX's ex-MC/NYC/PC/CR Porter Branch Sub in just a few seconds. The Wabash Railroad's Chicago Line, known as the Gary District once crossed both lines here as well. In preparation for the Conrail split in the late 1990s, a connection was placed in here to allow a few westbound trains from the Garrett Sub to turn onto the Porter Branch where trains now travel to/from IHB's Gibson Yard in Hammond and IHB's Blue Island Yard in Riverdale, Illinois. The Garrett Sub becomes the Barr Sub here as well. K141 is eventually heading back to the BNSF and the Bakken Region for more crude oil.

[sanjosenewshq]

Shale oil pioneer Harold Hamm to take Continental Assets non-public

Shale billionaire Harold Hamm has reached a deal to purchase Continental Assets in its entirety, valuing the fairness of the US oil producer he based at about $27bn. The transfer to completely privatise Continental marks an effort by probably the most influential figures within the US power business to interrupt freed from pressures from Wall Road and start pumping extra oil. “We’ve all felt the bounds of being publicly held over the previous couple of years, and in such a time as this, when the world desperately wants what we produce, I’ve by no means been extra optimistic,” Hamm mentioned in a word to workers. The shale tycoon mentioned privatisation would give the corporate “freedom to discover” for extra oil and develop “as we do our half to assist safe America’s power independence with none encumbrances”. The transaction would give Hamm and his household full possession of Continental, which he based in 1967 and took public in 2007 because the Oklahoma Metropolis-based firm emerged on the forefront of the US shale power revolution. Continental is the most important oil producer within the Bakken shale fields within the US states of North Dakota and Montana and up to now 12 months has expanded into Wyoming and the Permian Basin of Texas and New Mexico. Hamm agreed to pay $74.28 a share in money to purchase the 17 per cent of Continental that his household doesn’t already personal. The $4.3bn supply introduced on Monday represents a 13 per cent premium on Continental’s closing worth in mid-June, earlier than he made a primary bid for the corporate at $70 a share. Continental shares had been up 8.5 per cent to about $74 a share at noon in New York. Nevertheless, the transaction might be totally financed with Continental’s current money on its steadiness sheet and debt, which implies Hamm is not going to be spending any further cash of his personal. The deal was authorised by Continental’s board however drew instant opposition from a number one shareholder who mentioned Hamm’s new worth was tantamount to “stealing” the corporate’s property. Cole Smead, president of Smead Capital Administration, Continental’s greatest shareholder after the Hamm household, informed the Monetary Occasions the brand new supply nonetheless undervalued the property and mentioned the board’s approval regarded like a “backdoor deal”. “It’s like enjoying an away sport in basketball in a small city in the midst of nowhere,” Smead mentioned. “Not one of the calls are going your method as a result of the refs aren’t in your facet. The place I come from, we name these ‘homers’. I assume they name them the identical in Oklahoma.” Beneficial Hit exhausting by collapsing oil demand within the early days of the coronavirus disaster in 2020, Continental’s fortunes have since soared as power consumption has recovered and crude costs have gained since Russia’s invasion of Ukraine. In June, Hamm mentioned it was in the perfect pursuits of Continental to be delisted. Analysts mentioned Hamm’s enlargement and take-private transfer additionally mirrored his view that oil demand would preserve rising regardless of mounting environmental issues and investor scepticism about fossil fuels’ longevity. “Hamm is simply appearing on his conviction that the power transition goes to be sluggish and oil shortages from struggle and politics don’t align with Wall Road’s need for shale producers to maintain holding again,” mentioned Andrew Gillick, strategist at consultancy Enverus. Originally published at San Jose News HQ

[sxvewor]

2016 tax extension due date federal

The pipeline has a minimum ground cover of 4 feet (1.2 m). portion of the Keystone Pipeline included 1,744 kilometres (1,084 mi) of new, 30-inch-diameter (760 mm) pipeline in North Dakota, South Dakota, Nebraska, Kansas, Missouri, and Illinois. It also included approximately 373 kilometres (232 mi) of new 30-inch-diameter (760 mm) pipeline, 16 pump stations and the Keystone Hardisty Terminal. In Canada, the first phase of Keystone involved the conversion of approximately 864 kilometres (537 mi) of existing 36-inch (910 mm) natural gas pipeline in Saskatchewan and Manitoba to crude oil pipeline service. Operating since 2010, the original Keystone Pipeline System is a 3,461-kilometre (2,151 mi) pipeline delivering Canadian crude oil to U.S. Cushing is a major crude oil marketing/refining and pipeline hub. The Keystone XL pipeline segments were intended to allow American crude oil to enter the XL pipelines at Baker, Montana, on their way to the storage and distribution facilities at Cushing, Oklahoma. The Keystone XL Pipeline Project (Phase IV) revised proposal in 2012 consists of a new 36-inch (910 mm) pipeline from Hardisty, Alberta, through Montana and South Dakota to Steele City, Nebraska, to "transport of up to 830,000 barrels per day (132,000 m 3/d) of crude oil from the Western Canadian Sedimentary Basin in Alberta, Canada, and from the Williston Basin (Bakken) region in Montana and North Dakota, primarily to refineries in the Gulf Coast area". Phase III was opened on January 22, 2014, completing the pipeline path from Hardisty, Alberta to Nederland, Texas. Construction of Phase III, from Cushing, Oklahoma, to Nederland, Texas, in the Gulf Coast area, began in August 2012 as an independent economic utility. A fourth, proposed pipeline expansion segment Phase IV, Keystone XL, failed to receive necessary permits from the United States federal government in 2015. The Keystone Pipeline system consists of the operational Phase I, Phase II, and Phase III, the Gulf Coast Pipeline Project. 7.1 The Sandhills region and Ogallala Aquifer.On June 9, 2021, TC Energy abandoned plans for the Keystone XL Pipeline. On January 20, 2021, President Joe Biden signed an executive order to revoke the permit that was granted to TC Energy Corporation for the Keystone XL Pipeline (Phase 4). On January 24, 2017, President Donald Trump took action intended to permit the pipeline's completion. In 2015 KXL was temporarily delayed by President Barack Obama. The pipeline became well known when Phase IV KXL attracted opposition from environmentalists, becoming a symbol of the battle over climate change and fossil fuels. It would have run through Baker, Montana, where American-produced light crude oil from the Williston Basin ( Bakken formation) of Montana and North Dakota would have been added to the Keystone's throughput of synthetic crude oil (syncrude) and diluted bitumen ( dilbit) from the oil sands of Canada. The proposed Phase IV, Keystone XL (sometimes abbreviated KXL, with XL standing for "export limited" ) Pipeline, would have connected the Phase I-pipeline terminals in Hardisty, Alberta, and Steele City, Nebraska, by a shorter route and a larger-diameter pipe. By comparison, production of petroleum in the United States averaged 9.4 million barrels (1.5 million cubic meters) per day in first-half 2015, with gross exports of 500,000 barrels (79,000 m 3) per day through July 2015. Phase III has capacity to deliver up to 700,000 barrels (110,000 m 3) per day to the Texas refineries. In 2013, the first two phases had the capacity to deliver up to 590,000 barrels (94,000 m 3) per day of oil into the Midwest refineries. TransCanada Keystone Pipeline GP Ltd, abbreviated here as Keystone, operates four phases of the project. It runs from the Western Canadian Sedimentary Basin in Alberta to refineries in Illinois and Texas, and also to oil tank farms and an oil pipeline distribution center in Cushing, Oklahoma. The Keystone Pipeline System is an oil pipeline system in Canada and the United States, commissioned in 2010 and owned by TC Energy and as of 31 March 2020 the Government of Alberta.

[rjzimmerman]

Excerpt from this press release from the Center for Biological Diversity:

The Kern County Board of Supervisors voted today to rescind approval of Alon USA Energy, Inc.’s plan to bring scores of tanker-train cars filled with explosive Bakken crude oil to the Central Valley. Today’s vote is the result of a settlement reached with Alon by local residents, environmental groups and health and safety advocates who sued to stop the company’s plan.

Alon’s Crude Flexibility Project would have enabled the company’s shuttered Bakersfield refinery to reopen and unload crude from more than 200 tanker cars per day, allowing it to import up to 63.1 million barrels of crude per year.

“By stopping this project we have avoided significant increases in particulate and NOx emissions from the numerous diesel locomotives pulling these oil trains in and out of town every day,” said Tom Frantz, president of the Association of Irritated Residents. “That is a real health win for the residents of Kern County.”

The trains would have transported crude oil from the Bakken formation in North Dakota to the Bakersfield refinery. Bakken crude poses a higher risk of explosion, in the event of a rail accident, than heavier crudes. Every day two trains, each a mile long, carrying the crude would have snaked along treacherous routes through the Sierra Mountains, past numerous Central Valley communities and right past Bakersfield High School.

In 2013 a derailment and subsequent explosion of a train carrying Bakken crude in Lac-Mégantic, Quebec destroyed much of downtown and killed 47 people.

[crudeoilbrokers]

EQNR Closes $900MM Bakken Sale https://crudeoilbrokers.blogspot.com/2021/05/eqnr-closes-900mm-bakken-sale.html

[crudeoilfacilitators]

Equinor Posts Record Annual Loss. Sells U.S. Bakken Shale Assets https://crudeoilfacilitators.blogspot.com/2021/02/equinor-posts-record-annual-loss-sells.html

[worldmarketus]

Crude oil production in the US-output to rise to record 12.76m bpd

Introduction

For decades, crude oil production in the United States has been a major driver of both the national and global economies. In this article, we will examine the state of crude oil production in the United States, its impact, and the key factors influencing this critical industry.

The U.S. Crude Oil Production Landscape

Over the last few decades, the United States has seen a remarkable resurgence in crude oil production. This expansion has primarily been attributed to advances in drilling technology, specifically hydraulic fracturing (fracking), which has liberated vast reserves of oil from shale formations. As a result, the United States has risen to become one of the world’s leading crude oil producers.

Crude oil production in the US

Key Production Regions

Several regions in the U.S. are significant contributors to the nation’s crude oil production. The most notable among these are:

Texas: The Lone Star State stands out as the leading crude oil producer in the U.S. The Permian Basin, located in West Texas, is a major hotspot for oil production, attracting significant investment and activity.

North Dakota: The Bakken Formation in North Dakota has also played a pivotal role in U.S. crude oil production. It has witnessed substantial growth in recent years, making North Dakota one of the top oil-producing states.

Gulf of Mexico: Offshore drilling in the Gulf of Mexico remains a vital component of U.S. C.O. production. Many offshore platforms and rigs operate in this region.

Impact on the Economy

The crude oil production industry has a significant impact on the American economy. Thousands of people are employed in drilling, transportation, refining, and related industries, which contribute significantly to job creation. Furthermore, the industry generates significant tax revenue for local and federal governments, which can be used to fund a variety of public services.

Environmental Considerations

While increased C.O. production has benefited the economy, it has also raised environmental concerns. Fracking and other extraction methods have been linked to groundwater contamination and seismic activity. Furthermore, the use of fossil fuels, such as crude oil, contributes to greenhouse gas emissions and climate change. As a result, there is a growing emphasis on developing more sustainable and cleaner energy alternatives.

Future Outlook

Various factors influence the future of US C.O.Production, including global oil demand, environmental regulations, and advancements in renewable energy sources. While the industry remains important to the economy, there is growing recognition of the need to transition to more sustainable energy practices.

To summarize, crude oil production in the United States remains an important industry with significant economic implications. Because of technological advancements and abundant reserves, the United States has emerged as a global powerhouse in oil production. However, the industry faces environmental challenges as well as the transition to cleaner energy sources. The landscape of US C.O. production is likely to evolve in the coming years as the country navigates these challenges, shaping both economic and environmental outcomes.

[the-daily-tizzy]

Oil Supply Environmentalists calling the Shots.

The Bakken is the largest domestic oil discovery since Alaska's Prudhoe Bay and has the potential to eliminate all American dependence on foreign oil. 

The Energy Information Administration (EIA) estimates it at 503 billion barrels. 

Even if just 10% of the oil is recoverable (5 Billion barrels), at $107 a barrel, we're looking at a resource base worth more than $5.3 trillion.  

"When I first briefed legislators on this, you could practically see their Jaws hit the floor. They had no idea." says Terry Johnson, the Montana Legislature's financial analyzer.

"This sizable find is now the highest-producing onshore oil field found in the past 56 years," reports The Pittsburgh Post Gazette.

It's a formation known as the Williston Basin but is more commonly referred to as the 'Bakken.'

It stretches from Northern Montana, through North Dakota and into Canada. 

For years, U.S. Oil exploration has been considered a dead end

.Even the 'Big Oil' companies gave up searching for major oil wells decades ago.

However, a recent technological breakthrough has opened up the Bakken's Massive reserves. 

And, we now have access of up to 500 billion barrels. 

And because this is Light, sweet oil, those billions of barrels will cost Americans just $16 PER BARREL.

That's enough crude to fully fuel the American economy for 2,041 years Straight. 

And if THAT didn't throw you on the floor, then this next one should -

U.S. Oil Discovery - Largest Reserve in the World Stansberry Report Online - 4/20/2006.  Hidden 1,000 feet beneath the surface of the Rocky Mountains lies the Largest untapped oil reserve in the world.It is more than 2 TRILLION barrels. On August 8, 2005 President Bush Mandated its extraction.In many recent years of high oil prices none has been extracted. With this mother lode of oil why are we still fighting over off-shore Drilling?

They reported this stunning news:

We have more oil inside our borders, than all the other proven reserves on Earth.

Here are the official estimates:

8 times as much oil as Saudi Arabia

18 times as much oil as Iraq

21 times as much oil as Kuwait

22 times as much oil as Iran

500 times as much oil as Yemen

And it's all right here in the Western United States.

HOW can this BE? 

HOW can we NOT BE extracting this? 

Because the Environmentalists and others have blocked all efforts to help America become Independent of foreign oil!  

Again, we are letting a small group of people dictate our lives and our economy. 

WHY?

James Bartis, lead researcher with the study says we've got more oil in this very compact area than the entire Middle East, more than 2 TRILLION barrels Untapped. 

That's more than all the proven oil reserves of crude oil in the World today, reports The Denver Post.

Don't think 'OPEC' will drop its price even with this find? 

Think again!It's all about the competitive marketplace, it has to. 

Think OPEC just might be funding the environmentalists?

Got your attention yet? 

Now, while you're thinking about it, do this:

Reblog this.

 If you don't take a little time to do this, then you should stifle yourself the next time you complain about gas prices.

By doing NOTHING, you forfeit your right to complain.

(This can be verified at: https://www.usgs.gov/news/national-news-release/us...

[alphaman99]

The U.S. Geological Service issued a report in April 2008 that only Scientists and oil men knew was coming, but man was it big. It was a revised report (hadn't been updated since 1995) on how much oil was in this area of the western 2/3 of North Dakota, western South Dakota, and Extreme eastern Montana. Check THIS out:The Bakken is the largest domestic oil discovery since Alaska's Prudhoe Bay and has the potential to eliminate all American dependence on foreign oil. The Energy Information Administration (EIA) estimates it at 503 billion barrels. Even if just 10% of the oil is recoverable (5 Billion barrels), at $107 a barrel, we're looking at a resource base worth more than $5.3 trillion. "When I first briefed legislators on this, you could practically see their Jaws hit the floor.They had no idea." says Terry Johnson, the Montana Legislature's financial analyzer. "This sizable find is now the highest-producing onshore oil field found in the past 56 years,” reports The Pittsburgh Post Gazette.It's a formation known as the Williston Basin but is more commonly referred to as the 'Bakken.' It stretches from Northern Montana, through North Dakota and into Canada. For years, U.S. Oil exploration has been considered a dead end. Even the 'Big Oil' companies gave up searching for major oil wells decades ago.However, a recent technological breakthrough has opened up the Bakken's Massive reserves, And, we now have access of up to 500 billion barrels. And because this is Light, sweet oil, those billions of barrels will cost Americans just $16 PER BARREL!!!!! That's enough crude to fully fuel the American economy for 2041 years Straight. And if THAT didn't throw you on the floor, then this next one should - Because it's from 2006 !!!!!!U.S. Oil Discovery - Largest Reserve in the World Stansberry Report Online - 4/20/2006. Hidden 1,000 feet beneath the surface of the Rocky Mountains lies the Largest untapped oil reserve in the world. It is more than 2 TRILLION barrels. On August 8, 2005 President Bush Mandated its extraction. In many recent years of high oil prices none has been extracted. With this mother lode of oil why are we still fighting over off-shore Drilling?They reported this stunning news: We have more oil inside our borders, than all the other proven reserves on Earth.Here are the official estimates:8 times as much oil as Saudi Arabia18 times as much oil as Iraq21 times as much oil as Kuwait22 times as much oil as Iran500 times as much oil as YemenAnd it's all right here in the Western United States !!!!HOW can this BE? HOW can we NOT BE extracting this? Because the Environmentalists and others have blocked all efforts to help America become Independent of foreign oil! Again, we are letting a small group of people Dictate our lives and our economy. WHY?James Bartis, lead researcher with the study says we've got more oil in this very compact area than the entire Middle East, more than 2 TRILLION barrels Untapped. That's more than all the proven oil reserves of crude oil in the World today, reports The Denver Post.Don't think 'OPEC' will drop its price even with this find? Think again! It's all about the competitive marketplace, it has to. Think OPEC just might be funding the environmentalists? Got your attention yet?