U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR) decreased by 2.0 million barrels from the week ending January 3 to the week ending January 10, the U.S. Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report. Crude oil stocks, excluding the SPR, stood at 412.7 million barrels on January 10, 414.6 million barrels on January 3, and 429.9 million barrels on January 12, 2024, the EIA report revealed. Crude oil in the SPR came in at 394.3 million barrels on January 10, 393.8 million barrels on January 3, and 355.6 million barrels on January 12, 2024, the report showed. The EIA report highlighted that data may not add up to totals due to independent rounding. Total petroleum stocks – including crude oil, total motor gasoline, fuel ethanol, kerosene type jet fuel, distillate fuel oil, residual fuel oil, propane/propylene, and other oils – stood at 1.625 billion barrels on January 10, the report revealed. This figure was down 2.9 million barrels week on week and up 6.6 million barrels year on year, the report outlined. “At 412.7 million barrels, U.S. crude oil inventories are about six percent below the five year average for this time of year,” the EIA noted in its report. “Total motor gasoline inventories increased by 5.9 million barrels from last week and are sightly below the five year average for this time of year. Finished gasoline inventories and blending components inventories increased last week,” it added. “Distillate fuel inventories increased by 3.1 million barrels last week and are about four percent below the five year average for this time of year. Propane/propylene inventories decreased by 4.7 million barrels from last week and are seven percent above the five year average for this time of year,” it continued. U.S. crude

Listen to the article 3 min This audio is auto-generated. Please let us know if you have feedback. The U.S. Department of Energy on Thursday announced conditional loan commitments for eight utilities totaling almost $23 billion. If finalized, the loans would support investments in transmission, energy storage, grid modernization, gas pipelines and more. “Projects planned by the utilities announced today will add much-needed transmission capacity by building new transmission lines, reconductoring existing lines, and implementing grid-enhancing technologies that will get more out of existing grid,” DOE said. Additional investments include substation upgrades, virtual power plants and “strategically placed energy storage … New generation from wind, solar, and hydropower are planned at gigawatt scale,” DOE said. And along with investments in the power grid, the conditional loans would support replacing over 3,000 miles of “leaky natural gas distribution and main lines.” The loan guarantees would be provided through the Energy Infrastructure Reinvestment program, funded by the Inflation Reduction Act, and go to utilities serving almost 15 million customers across 12 states. Retrieved from U.S. Department of Energy. The largest award would go to DTE Electric, which could receive up to $7.17 billion in loan guarantees to help finance generation and battery storage in Michigan. Sister utility DTE Gas could receive up to $1.64 billion in loan guarantees to update large natural gas pipes and service distribution lines and to move metering infrastructure outdoors. Consumers Energy, a subsidiary of CMS Energy, could receive a $5.23 billion loan guarantee for investments through 2031 in solar generation, wind generation, battery storage, virtual power plant projects and the replacement of legacy natural gas pipelines. “If finalized, the loan guarantee will enable Consumers Energy to invest in reliability and energy security while significantly lowering costs for its customers,” DOE said. PacifiCorp could receive a $3.5 billion loan guarantee

Listen to the article 13 min This audio is auto-generated. Please let us know if you have feedback. President-elect Donald Trump, set to be sworn in on Monday, is returning to the White House amid surging electricity demand, partly driven by planned data centers, new manufacturing facilities and electrification of the building and transportation sectors. That reality — starkly different from the flat demand growth during Trump’s first term from 2017 to 2021 — will drive the incoming administration’s power-related policies, according to experts. At the same time, there are more barriers to new power supply than probably during any previous era, such as state policies that make it hard to build infrastructure, according to Devin Hartman, director of energy and environmental policy at the R Street Institute, a market-oriented think tank. “You just cannot reconcile massive barriers to new supply with growing demand, and the situation that you inherit in the power sector is also the same set of conditions that constrain decarbonization,” he said. Hartman contends there is significant overlap between Republican priorities for lowering energy costs and boosting reliability with Democratic desires for developing clean energy. Those goals, for example, can all be facilitated by new transmission, he said. Trump moves quickly on nominations At least three agencies — the Federal Energy Regulatory Commission and the departments of Energy and Interior — will play major roles in the Trump administration’s efforts to spur new power supplies and slash energy costs. The Environmental Protection Agency will also have a role in those efforts. The incoming administration moved quickly with nominations to lead Energy, Interior and the EPA all announced in mid-November. The Senate is holding hearings this week on North Dakota Gov. Doug Burgum, R, Trump’s Interior secretary nominee and and prospective energy czar; former Rep. Lee Zeldin,

As the Scottish offshore wind sector prepares to gather in Glasgow next week, Energy Voice looks at the key items on the agenda for industry leaders. The Scottish Renewables Offshore Wind 2025 conference will take place at the SEC in Glasgow from 22-23 January. After a major stumble in 2023 when the fifth renewable auction round failed to secure any bids from UK developers, the offshore wind sector got “back on track” in 2024. The emerging floating wind sector also received a significant boost last year as the Green Volt project secured approval from the Scottish government. Inflationary pressures also eased, but the industry in Scotland still faces barriers to offshore wind deployment. These hurdles range from planning and grid connection delays to a lack of domestic manufacturing capacity and skills shortages. The election of a Labour government brought with it a clean power 2030 target, and the introduction of GB Energy and Mission Control. In 2024, the Glasgow event featured discussions around port infrastructure, transmission, community benefit and Contracts for Difference. With the industry set to gather in Glasgow once again next week, are there any clues for what’s in store for the Scottish offshore wind sector in 2025? GB Energy and green industrial strategy First up in Glasgow, day one will see industry leaders explore ways to accelerate progress in ramping up supply chain capacity to meet decarbonisation targets. Top of the agenda will be Labour’s flagship publicly owned GB Energy, as well as the Scottish government’s green industrial strategy. GB Energy chair Juergen Maier will headline the opening plenary, appearing alongside SSE Renewables head of offshore development Brian McFarlane and BlueFloat Energy Nadara Partnership UK managing director Susie Lind. The discussion will focus on ways the industry can collaborate with governments to tackle the barriers to offshore

TXO Partners LP said Wednesday it has identified potential natural gas of nearly three trillion cubic feet equivalent in the Mancos Shale of the San Juan Basin in the Southwestern United States. “On an oil equivalent basis, we believe this could represent as much as five times our current total reserve base”, chair and chief executive Bob Simpson said in an online statement. “The catalyst for action in developing this project is commodity price, and we anticipate strong natural gas economics ahead”. The Fort Worth, Texas-based company holds production rights in a contiguous area of 58,500 acres in the Mancos field. It also holds water rights and an option for “key” gas gathering systems in the basin, according to TXO. “We believe the Mancos Shale development will be a game-changer for our reserve holdings and production potential”, added Gary Simpson, president for production and development. “TXO acreage and operations reside in prime position. Offset drilling on adjoining acreage has confirmed well results.  “Given all the important criteria—reservoir characteristics, acreage location, productivity data, and infrastructure access—we have identified a tactical 3,520-acre block as phase I for developing and monetizing reserves, representing about six percent of our current Mancos position. “Specifically, our internal engineers estimate that this single position holds about 200 to 300 Bcf [billion cubic feet] of natural gas with 25 Bcfe estimated per drill well and has the potential to almost double our existing natural gas reserves. “Importantly, the company’s acres for exploitation are held by production with no leasehold expiration dates. “We expect to drill, develop, and monetize at an economically opportune time and pace”. TXO closed higher at $17.93 on the New York Stock Exchange on Wednesday. Last year TXO expanded with the acquisition of Williston Basin assets in Montana and North Dakota through separate transactions with

Northwest Natural Gas Co. (NW Natural) has announced that Kim Rush will become president of the company effective April 1, 2025. Rush is a long-serving executive of NW Natural, a unit of Northwest Natural Holding Co. (NW Natural Holdings). In a media release, NW Natural said Rush will assume full strategic, financial, and operational responsibilities for the company. The appointment coincides with Justin B. Palfreyman’s expected appointment as CEO of NW Natural Holdings and NW Natural, replacing the retiring David H. Anderson, the company said. Rush joined NW Natural in 1998 and has held various leadership roles in communications, marketing, and operations. In 2023, she was named senior vice president and chief operating officer, having previously served as chief marketing officer and chief corporate communications officer, NW Natural said. “Kim plays an integral role in how we operate every day and in how we show up outside our organization, including to customers and stakeholders. She has extensive knowledge of our gas utility and the critical role it plays in our regional energy system. She is highly respected by our industry peers and colleagues and is a strong leader within our senior executive team”, Justin B. Palfreyman, president of NW Natural Holdings, said. “I am so proud to have spent most of my career at NW Natural, where our team has a deep commitment to the communities we live in and where our core values really mean something”, Rush said. “I’m particularly excited to lead the utility at a time when the work we do is more important than ever to reliably serve our customers and support the regional energy system”. Before joining NW Natural, Rush held senior communications roles at Alltel Corp. and Bank of America in Chicago. She serves on the board of the Northwest Gas Association and is