In The Oil Patch Radio Show is proud to bring you today’s Energy Minute, produced by shalemag.com
The EIA estimates that the U.S. power sector set a record for natural gas consumption in July. The electricity industry consumed 44.5 billion cubic feet of gas on July 19, eclipsing the old daily record of 43.1 billion cubic feet set on July 16, 2018. The trend is likely to continue, as power companies are projected to increase their gas use by 3.8% this year compared with 2018.
In an effort to place increasing pressure on the Nicolas Maduro regime, the Trump Administration moved to freeze all assets of the Venezuelan government on Monday. Under the executive order’s terms, no U.S. company will be allowed to deal with the Venezuelan government. Russian and Chinese companies that still do business with Caracas may also become liable to penalties under the order, or so-called secondary actions.
The Houston Chronicle reports that Exxon Mobil is preparing to drill dozens of new oil wells across the Permian Basin and Eagle Ford Shale. Over the past week, the supermajor filed for 53 drilling permits with the Texas Railroad Commission.
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