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Demand for Oil and Natural Gas Continues to Set Records

Aug 8, 2024 | oilmanmagazine.com | Alex Mills

The demand for crude oil and natural gas in the U.S. and around the globe continued at a record pace through the first half of 2024, and producers in Texas and throughout the nation struggled to keep pace with consumer demand. On the international scene, the Organization of Petroleum Countries (OPEC) believes that demand will rise by 2 million barrels per day to 106 million barrels per day.
Angola's OPEC Exit, Amid Quota Dispute, Shakes Global Oil Markets

Aug 6, 2024 | oilmanmagazine.com | Abdulwaheed Sofiullahi

Angola, Africa’s second-largest oil producer, left OPEC after a lengthy dispute over its production quota, ending its 16-year membership. The withdrawal, announced by Oil Minister Diamantino Azevedo after a meeting chaired by President Joao Lourenco, followed a recent cut in Angola’s 2024 quota by 350,000 b/d. This reduces the Saudi-led group, which has been cutting production to support oil prices, to 12 members. However, the impact on the market will be minimal due to Angola’s declining output.
Calculating Cybersecurity Risks for Sustainable Energy Systems

Aug 2, 2024 | oilmanmagazine.com | Jose Seara

The transition to a green economy based on sustainable power is steadily reducing society’s dependence on fossil fuels, but it is also ratcheting up cybersecurity risks for the renewable energy sector. As more wind turbines and solar arrays get connected to the energy grid, they, unfortunately, introduce new attack surfaces for cyber criminals and foreign adversaries to take advantage of.
Bipartisan Energy Permit Reforming Act Wins 15-4 Vote

Aug 1, 2024 | oilmanmagazine.com | Nick Vaccaro

The Senate Energy and Natural Resources (ENR) committee recently announced a massive win with a bipartisan vote of 15-4, pushing the Energy Permitting Reform Act forward. U.S. Senators Joe Manchin (I-WV) and John Barrasso (R-WY) introduced the legislation as a pathway to increasing domestic energy and mineral production while reducing energy costs endured by American citizens.
Goldman Sachs Predicts Next President will Endure Challenges with Elevating 2025 Oil Supply

Jul 27, 2024 | oilmanmagazine.com | Nick Vaccaro

With each week that passes, the presidential race takes an unprecedented turn. What has captivated most of history with a less-than-exciting race between two parties has elevated into ground-shaking moments like an assignation attempt on Former President Trump and then President Biden’s announcement to forego his bid as the Democratic nominee. Although a call to tone down the rhetoric was waged, neither the Democrats nor Republicans have followed through.
Letter from the Editor (July-August 2024)

Jul 26, 2024 | oilmanmagazine.com | Nick Vaccaro

I find myself reflecting on and even evaluating the political events of our country. The third day of the Republican National Convention (RNC) is wrapping up. Former President Trump recently survived an assassination attempt, and President Biden’s cognitive capacity is being scrutinized while the Democratic party scrambles to conduct damage control.
New York’s South Fork Wind Project Marks Major Milestone

Jul 26, 2024 | oilmanmagazine.com | Katie Navarra

The South Fork Wind Project marks a significant milestone in New York State’s journey toward renewable energy. The project was the to begin operation in the United States when the first two of 12 turbines began generating power on December 6, 2023. The 12-turbine project is located approximately 35 miles east of Montauk Point on Long Island and was fully functional in mid-March 2024. The South Fork Wind project will generate 130 megawatts (MW), which is enough to power about 70,000 homes annually.
U.S. Energy Development Corporation CEO Jordan Jayson Maintains an Independent Dynamic with Smart Spending and a Joint Venture Blueprint

Jul 26, 2024 | oilmanmagazine.com | Nick Vaccaro

They say the backbone of the United States continues to be the birth and success of small businesses. When analyzing it from the oil and gas vantage point, U.S. Energy Development Corporation would be one of those inspirational success stories of small businesses forming in the most unlikely of places and then growing into a pillar of stability and longevity.
What are Kamala Harris’s Positions on Energy Issues?

Jul 25, 2024 | oilmanmagazine.com | Alex Mills

Vice President Kamala Harris, who presumably will be the Democratic nominee for President following Joe Biden’s withdrawal last week, apparently is not a fan of America’s oil and gas industry. Even though Harris has not officially won the Democratic nomination yet (the convention will be held in August), her previous statements and positions indicate she will push for more regulations and laws to make finding and producing more hydrocarbons in the U.S. more difficult.
Tackling Shrinking Workforces in Europe’s Oil and Gas Industry

Jul 23, 2024 | oilmanmagazine.com | Adrian Park

Europe faces a pressing question: Can its economies continue to grow with a shrinking workforce? This issue is critical as Europe, the only continent experiencing demographic decline, is projected to see its working-age population decrease by 5% by 2033. This trend will particularly impact major economies such as Germany, which is expected to lose 5 million workers or 10% of its total labor force.