A new report commissioned by LNG Allies and the American Exploration & Production Council highlights the environmental benefits of US liquefied natural gas compared to coal and Russian and Algerian gas for electricity generation in Europe and Asia. US LNG exports to Europe have a 53% lower average emissions intensity than coal plants on the continent and a 29% lower emissions profile than piped gas from Russia, according to the report.

Canada's Gibson Energy expects heightened profitability for its South Texas Gateway Terminal, which it acquired last year for roughly $1.1 billion, as rising oil production from the Permian Basin drives increased US crude exports. Gibson plans to capitalize on this trend by optimizing contracts and upgrading the terminal infrastructure, Chief Financial Officer Sean Brown said.

The prospect of oil going up to $100 per barrel has increased as conflict continues in the Middle East, but investors expect OPEC's spare capacity could cap prices. Benchmark global prices are up 23% from mid-December, which has boosted inflation. If oil prices continue to rise towards $95 a barrel, this could increase pressure on OPEC to roll back production cuts and increase output, said Frederic Lasserre, global head of research and analysis at Gunvor.

Surging associated gas production from oil-rich regions like the Permian Basin and Bakken Shale, alongside low gas prices, is intensifying pressure on natural gas producers in Appalachia and the Haynesville Shale, prompting some of them to cut output and drilling activity. To put things in perspective, Energy Information Administration projections suggest that Permian and Bakken-associated gas volumes will increase to 25.24 Bcf/d and nearly 3.42 Bcf/d, respectively, in May, while gas production from the Haynesville Shale and Appalachia is seen declining to about 16 Bcf/d and 36.1 Bcf/d, respectively.

The US directed $303 billion toward the energy transition in 2023 largely through Inflation Reduction Act incentives, but the law may not be enough to get the nation where it needs to be in terms of decarbonization, according to panelists at the BNEF Summit. Attendees pointed to broader issues like interconnection queues, trade constraints and permitting delays.

The Cybersecurity and Infrastructure Security Agency last month advanced a proposal for a new data breach reporting mechanism, which it expects to take effect by 2026. The proposed rules cover a variety of cyberincidents and how incidents should be reported to CISA.

The prospect of a national climate emergency declaration is back in the cards as White House officials have reportedly revived discussions on the matter, although advisers are disagreeing about the effectiveness of such a measure. A climate emergency declaration would empower President Joe Biden to restrict crude exports, offshore drilling and oil and gas transportation.

The Energy Information Administration expects US oil production from major shale regions to rise by more than 16,000 barrels per day to 9.86 million bpd in May, the highest level since December, with the Permian Basin accounting for most of the growth. In contrast, shale gas production is predicted to fall to 99.9 Bcf/d in May, which would mark the lowest level in four months.

The Refining and Equipment Standards Meeting remains an invaluable opportunity to be a part of how the U.S. petroleum industry develops and maintains state-of-the-art standards. Gain access to technical committee meetings covering API standards and best practices used throughout the industry to promote safe and environmentally sound operations. Learn about the latest research and development on refining process equipment, including future R&D efforts that may benefit your business in the long run. Register for the meeting.

The API WorkSafe Contractor Safety Program focuses on key points from the second edition of API Recommended Practice 1646, Safe Work Practices for Contractors Working at Retail Petroleum/Convenience Facilities. This interactive training program includes 14 modules designed to provide general awareness of safety issues and minimum procedures associated with maintenance and construction work at retail petroleum and convenience facilities. Contractors who complete the training and pass the final assessments will receive their API WorkSafe qualification certificate. To learn more, visit apilearning.org.