US ‘mulls paying drillers to keep oil in ground’ as shale sector starts to implode

Only Subscribers can read the full Article

The Trump administration is reportedly drawing up plans to pay US oil producers to stop producing oil and list their untapped reserves as part of the government’s Strategic Petroleum Reserve (SPR), in a bid to reduce output and buy time as US oil stores rapidly fill up. Unconfirmed reports of the drastic “keep-it-in-the-ground” plan emerged earlier today, amid a fresh slew of announcements of savage capital budget spending cuts and other bad news from US onshore operators struggling to cope with oil prices at 18-year lows.

The US Department of Energy (DoE) is looking at holding auctions to ...

Subscription Benefits

Our three titles – LNG Business Review, Gas Matters and Gas Matters Today – tackle the biggest questions on global developments and major industry trends through a mixture of news, profiles and analysis.

LNG Business Review

LNG Business Review seeks to discover new truths about today’s LNG industry. It strives to widen market players’ scope of reference by actively engaging with events, offering new perspectives while challenging existing ones, and never shying away from being a platform for debate.

Gas Matters

Gas Matters digs deep into the stories of today, keeping the challenges of tomorrow in its sights. Weekly features and interviews, informed by unrivalled in-house expertise, offer a fresh perspective on events as well as thoughtful, intelligent analysis that dares to challenge the status quo.

Gas Matters Today

Gas Matters Today cuts through the bluster of online news and views to offer trustworthy, informed perspectives on major events shaping the gas and LNG industries. This daily news service provides unparalleled insight by drawing on the collective knowledge of in-house reporters, specialist contributors and extensive archive to go beyond the headlines, making it essential reading for gas industry professionals.

Did you know that your Internet Explorer Browser is out of date?

Your MS Internet Explorer browser is out of date, and will not be fully compatible with our website. For best browsing experience we recommend that you upgrade your IE browser to a more recent version or use an alternative, more recent browser.