Petrobras wrapped up 2020 with record oil production just as most of its peers reeled from the worst crude-market crash in history. Tiger Woods Injured in Serious Car Accident. Global oil demand fell by 25% in April, but it has rebounded sharply since then, cutting its losses to just 8%. Oil & Gas 360® c/o EnerCom, Inc. 410 17th Street Suite 250 Denver, CO 80202 [email protected] 303-296-8834 E-mail for Advertising Information or call 303-296-8834 x 243 Since the oil price crash which began in August 2014 production has steadily declined because of ... That could change over the course of 2021 with Frontera oil production growing if oil … More:Study: New Mexico could lose billions under federal oil and gas leasing ban. © 2021 www.currentargus.com. Crude oil production is down by more than four million barrels a day, twice what was reported a day earlier. Production in the area that straddles western Texas and New Mexico is down between 65 percent and 80 percent. The crash in U.S. oil production is growing worse as the deep freeze in Texas continues, according to Bloomberg News. Gasoline prices are up sharply and are expected to rise above the highest level seen last year despite lower than normal demand. Article content. The company was granted approval by the Federal Energy Regulatory Commission to build the line earlier this year and construction was expected to begin by the end of the first quarter while the line could be in service by the end of the year. In a $20 oil environment, 533 US oil exploration and production companies will file for bankruptcy by the end of 2021, according to Rystad Energy. New Mexico lawmakers warned of impacts from President Joe Biden's oil and gas leasing ban, Study: New Mexico could lose billions under federal oil and gas leasing ban, Oil and gas contributes $3 million to New Mexico politics during 2020 election cycle, New Mexico Rep. Yvette Herrell joins bill to block future bans on oil and gas leases, New Mexico industry warns of dire impact as President Biden pauses oil and gas leasing, New Mexico Senate bill seeks to transition state away from oil and gas reliance, President Joe Biden halts oil and gas leases, permits on federal land and water, As he's sworn in as President, Joe Biden urged to get tough on oil and gas emissions, Your California Privacy Rights / Privacy Policy. — Two separate crashes on Jan. 1, 2021 resulted in the deaths of two people in Wyoming. “We are pleased to have the opportunity to partner with two leading (exploration and production) companies in the Permian Basin to provide full life-cycle produced water recycling solutions that we believe will both lower our customers' operating costs and reduce their environmental footprint,” said Select CEO John Schmitz. Another facility was under development in the Delaware Basin in Loving County, Texas at the New Mexico border, recycling up to 30,000 barrels of produced water per day and supported by 1 million barrels of adjacent storage capacity. The Permian Basin, America’s largest oil field, has been hard hit. The first occurred at around 3:15 pm Friday on US 189 / US 191 near Jackson. Warren Buffett’s decision to invest in gold and hold cash might be signs he’s anticipating a market crash. The logic was that The Oil Industry's 2021 Outlook Looks Bleak The demand recovery seems to have stalled out. Wyoming resident Shane Deal, 39, died as a result of the crash, according to a crash summary filed by the Wyoming Highway Patrol. The line would offer about 1.3 billion cubic feet of capacity using about 33 miles of 30-inch trunk-line from Summit Lane’s Processing Plant in Eddy Count to the Poker Lake Meter Station also in Eddy County. 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