Rigzone Industry News

U.S. oil exports have set five new monthly records since Western nations began imposing sanctions on Russia in 2022.

The biofuels industry in the U.S. is booming, according to Rystad Energy.

The Energy Department has been slowly refilling the Strategic Petroleum Reserve after it reached a 40-year-low.

Crude oil stocks in the U.S., not including the SPR, stood at 448.2 million barrels on March 22, according to the EIA.

South Korea and the U.S. launched a joint task force to prevent North Korea from accessing extra refined petroleum products.

The NSTA said the plan 'places electrification and low carbon power at the heart of emissions reduction'.

The DOE selected 20 states for the deployment of up to $6 billion in funding to reduce emissions from energy-intensive manufacturing industries.

The projects encompass various clean energy technologies, including solar, microgrids, pumped storage hydropower, geothermal, and battery energy storage systems.

The DOE estimates that the U.S. needs to invest $225–250 billion to reach a potential 90 GW of geothermal generation by 2050.

The U.S. oil and gas industry directly employed 2.04 million workers in 2023, according to TIPRO.