Trade body Energy UK is urging the government to “seize the moment and unleash the potential of nuclear energy” as part of efforts to decarbonise the country’s electricity. Energy UK said the nuclear industry in the UK is at a “pivotal time”, with four of the country’s five power plants nearing the end of their operational lives. At the same time, French firm EDF is building a reactor at Hinkley Point C, which will be the first new nuclear power plant in the UK for over 30 years when complete. A final investment decision on the Sizewell C reactor is also due in the spring, alongside further updates on the UK government’s small modular reactor (SMR) competition. State-owned Great British Nuclear (GBN) is overseeing the SMR contest, with four companies developing reactor designs that could be operational by the mid-2030s. UK needs to expand nuclear, Energy UK says In a report, Energy UK said the nuclear sector will require further expansion to meet a forecast increase in electricity demand. The trade body said nuclear can provide a “stable source of clean power” to complement increasing wind and solar generation. The industry can also support economic growth and provide jobs in the regions where plants are located, Energy UK said. The UK nuclear sector currently employs around 64,000 people, while indirectly supporting a further 210,000. © Supplied by AltradHinkley Point C nuclear power station. Somerset, England. The Hinkley Point C project alone supports nearly 23,500 jobs, with £5.3bn spent across businesses in the south west of England. According to the report, building Sizewell C could lead to the creation of 70,000 jobs and a £4.4bn boost to the UK construction sector in the east of England. Energy UK said the UK should utilise the “highly skilled workforce and active supply chain” developed

Trade body Energy UK is urging the government to “seize the moment and unleash the potential of nuclear energy” as part of efforts to decarbonise the country’s electricity. Energy UK said the nuclear industry in the UK is at a “pivotal time”, with four of the country’s five power plants nearing the end of their operational lives. At the same time, French firm EDF is building a reactor at Hinkley Point C, which will be the first new nuclear power plant in the UK for over 30 years when complete. A final investment decision on the Sizewell C reactor is also due in the spring, alongside further updates on the UK government’s small modular reactor (SMR) competition. State-owned Great British Nuclear (GBN) is overseeing the SMR contest, with four companies developing reactor designs that could be operational by the mid-2030s. UK needs to expand nuclear, Energy UK says In a report, Energy UK said the nuclear sector will require further expansion to meet a forecast increase in electricity demand. The trade body said nuclear can provide a “stable source of clean power” to complement increasing wind and solar generation. The industry can also support economic growth and provide jobs in the regions where plants are located, Energy UK said. The UK nuclear sector currently employs around 64,000 people, while indirectly supporting a further 210,000. © Supplied by AltradHinkley Point C nuclear power station. Somerset, England. The Hinkley Point C project alone supports nearly 23,500 jobs, with £5.3bn spent across businesses in the south west of England. According to the report, building Sizewell C could lead to the creation of 70,000 jobs and a £4.4bn boost to the UK construction sector in the east of England. Energy UK said the UK should utilise the “highly skilled workforce and active supply chain” developed

According to the U.S. Energy Information Administration’s (EIA) latest short term energy outlook (STEO), which was released earlier this month, the U.S. will produce 13.45 million barrels of crude oil, including lease condensate, per day in the second quarter of this year. Of this total, 11.23 million barrels will come from Lower 48 states, excluding the Gulf of America, the EIA showed in its STEO. The Federal Gulf of America will produce 1.81 million barrels per day of the total and Alaska will produce 0.41 million barrels per day, the STEO pointed out. The EIA’s latest STEO highlighted that U.S. crude oil production averaged 13.35 million barrels per day in the first quarter of this year. The Lower 48 states, excluding the Gulf of America, provided 11.09 million barrels per day of that total, the Federal Gulf of America provided 1.82 million barrels per day, and Alaska provided 0.44 million barrels per day, the STEO showed. In the second quarter of 2024, the U.S. produced 13.23 million barrels of crude oil per day, with 11.01 million barrels coming from the Lower 48 states, excluding the Gulf of America, 1.80 million barrels coming from the Federal Gulf of America, and 0.42 million barrels coming from Alaska, the EIA’s April STEO outlined. In the first quarter of last year, U.S. crude oil production averaged 12.94 million barrels per day, according to the EIA’s latest STEO, which pointed out that the Lower 48 states, excluding the Gulf of America, provided 10.73 million barrels of that total, the Federal Gulf of America provided 1.78 million barrels, and Alaska provided 0.43 million barrels. Future Projections The EIA’s April STEO projects that U.S. crude oil production will average 13.51 million barrels per day overall in 2025 and 13.56 million barrels per day overall in 2026. This

According to the U.S. Energy Information Administration’s (EIA) latest short term energy outlook (STEO), which was released earlier this month, the U.S. will produce 13.45 million barrels of crude oil, including lease condensate, per day in the second quarter of this year. Of this total, 11.23 million barrels will come from Lower 48 states, excluding the Gulf of America, the EIA showed in its STEO. The Federal Gulf of America will produce 1.81 million barrels per day of the total and Alaska will produce 0.41 million barrels per day, the STEO pointed out. The EIA’s latest STEO highlighted that U.S. crude oil production averaged 13.35 million barrels per day in the first quarter of this year. The Lower 48 states, excluding the Gulf of America, provided 11.09 million barrels per day of that total, the Federal Gulf of America provided 1.82 million barrels per day, and Alaska provided 0.44 million barrels per day, the STEO showed. In the second quarter of 2024, the U.S. produced 13.23 million barrels of crude oil per day, with 11.01 million barrels coming from the Lower 48 states, excluding the Gulf of America, 1.80 million barrels coming from the Federal Gulf of America, and 0.42 million barrels coming from Alaska, the EIA’s April STEO outlined. In the first quarter of last year, U.S. crude oil production averaged 12.94 million barrels per day, according to the EIA’s latest STEO, which pointed out that the Lower 48 states, excluding the Gulf of America, provided 10.73 million barrels of that total, the Federal Gulf of America provided 1.78 million barrels, and Alaska provided 0.43 million barrels. Future Projections The EIA’s April STEO projects that U.S. crude oil production will average 13.51 million barrels per day overall in 2025 and 13.56 million barrels per day overall in 2026. This

According to the U.S. Energy Information Administration’s (EIA) latest short term energy outlook (STEO), which was released earlier this month, the U.S. will produce 13.45 million barrels of crude oil, including lease condensate, per day in the second quarter of this year. Of this total, 11.23 million barrels will come from Lower 48 states, excluding the Gulf of America, the EIA showed in its STEO. The Federal Gulf of America will produce 1.81 million barrels per day of the total and Alaska will produce 0.41 million barrels per day, the STEO pointed out. The EIA’s latest STEO highlighted that U.S. crude oil production averaged 13.35 million barrels per day in the first quarter of this year. The Lower 48 states, excluding the Gulf of America, provided 11.09 million barrels per day of that total, the Federal Gulf of America provided 1.82 million barrels per day, and Alaska provided 0.44 million barrels per day, the STEO showed. In the second quarter of 2024, the U.S. produced 13.23 million barrels of crude oil per day, with 11.01 million barrels coming from the Lower 48 states, excluding the Gulf of America, 1.80 million barrels coming from the Federal Gulf of America, and 0.42 million barrels coming from Alaska, the EIA’s April STEO outlined. In the first quarter of last year, U.S. crude oil production averaged 12.94 million barrels per day, according to the EIA’s latest STEO, which pointed out that the Lower 48 states, excluding the Gulf of America, provided 10.73 million barrels of that total, the Federal Gulf of America provided 1.78 million barrels, and Alaska provided 0.43 million barrels. Future Projections The EIA’s April STEO projects that U.S. crude oil production will average 13.51 million barrels per day overall in 2025 and 13.56 million barrels per day overall in 2026. This

Devon Energy Corp. said Tuesday it aims to grow its pre-tax free cash flow by $1 billion yearly by 2026, of which 30 percent is expected to be achieved this year. Following the announcement of the “optimization plan”, the Delaware Basin-focused oil and gas exploration and production (E&P) company saw its stock close 5.83 percent higher at $31.2 on the New York Stock Exchange Tuesday. “The plan includes actions to achieve more efficient field-level operations and improvements in drilling and completion costs while improving operating margins and corporate costs”, Devon said in an online statement. “This is an opportune time for us to take on this initiative, as we leverage recent leadership changes across the organization, bringing fresh perspectives and new ideas”, new president and chief executive Clay Gaspar said. Gaspar replaced retired Rick Muncrief last month. In January 2025 Devon promoted John Raines as senior vice president for exploration and production asset management and Trey Lowe as senior vice president and chief technology officer. Additionally Tom Hellman was appointed senior vice president for E&P Operations. “Given the challenging market and shifting competitive landscape, this is the right moment to focus internally and improve our profitability”, Gaspar added. “Importantly, this effort will create significant shareholder value by expanding our free cash flow generation and enhancing the durability of our business. “Our organization has been diligently advancing this initiative and has already secured marketing agreements to drive a material margin improvement through year-end 2026. “Concurrently, we have implemented technological advancements, including advanced analytics and process automation, that are further enhancing our operating performance”. The optimization plan targets $300 million in capital efficiency “through design optimization, cycle time reductions, facility standardization and vendor management”, Devon said. The plan also includes $250 million in production optimization. Devon said it plans to use “advanced