Small-refinery waivers issued by the Environmental Protection Agency prove just how problematic the Renewable Fuel Standard program is, said American Petroleum Institute Downstream and Industry Operations Group Director Frank Macchiarola. "We're optimistic that there are bipartisan groups in both the House and Senate who recognize that this program is deeply flawed. Nevertheless, the legislative process is slow, and it will take time," Macchiarola said.
An appraisal well drilled at Equinor's Sigrun discovery in the North Sea showed better-than-expected results, says the Norwegian Petroleum Directorate. The estimated reserve potential has been revised from 1.8 million to 8.8 million barrels of recoverable oil equivalent to 6.9 million to 12.5 million barrels.
Artificial intelligence can help manage the vast data sets needed and used in the oil industry, making them more accessible, but that will require the cooperation of current and future industry employees, writes Marc Boudria. Current employees will serve as AI instructors, with future employees encountering more automation.
Oil and gas companies are making a renewed push for lawmakers to open up the Florida offshore region to drilling and exploration. The Interior Department said in January that nearly all federal waters would be open for exploration.
Total is looking for additional oil in Africa, with plans to drill exploratory wells in Senegal and Mauritania after gathering seismic survey data, says company executive Guy Maurice. Total is focused on conventional oil in sub-Saharan Africa and the Middle East, while other majors are relying on US shale.
Waters near Antarctica are giving off more carbon dioxide than expected during the winter, says a study in the journal Geophysical Research Letters. The Southern Ocean might not be absorbing as much carbon as previously thought, which could play a role in climate change, says lead author Alison Gray of the University of Washington.
There's 1,000 cubic kilometers of magma underneath the Long Valley caldera in California, the US Geological Survey said after taking a more detailed look at the volcano using ambient noise. "We used physics-based computer simulations to model the way this energy travels through the volcano," said Ashton Flinders of the USGS.
A Gulf of Mexico lease auction held Wednesday attracted $178 million worth of winning bids, up from the last sale's $125 million, signaling that confidence in the offshore sector has not completely faded. Some companies, including ExxonMobil and Equinor, bid on more remote acreage.
US crude inventories climbed by 6.8 million barrels last week, according to the Energy Information Administration, despite analyst expectations for a 2.4-million-barrel decline. Gasoline supplies slumped by 740,000 barrels, while distillate reserves gained 3.6 million barrels.