Oil and gas coalition aims to end routine flaring by 2030
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Flaring on a site near Orla, Texas on Wednesday, April 29, 2020. A coalition of oil and gas trade groups say they aim to end routine flaring by 2030 as the Railroad Commission indicates it will crack down on the practice.Elizabeth Conley, Houston Chronicle / Staff photographer
A coalition of oil and gas trade groups says it aims to end routine flaring by 2030 as the Texas Railroad Commission indicates it will crack down on the practice.
The Texas Methane and Flaring Coalition on Wednesday said it will work to end the burning of excess natural gas from oil wells when there is a lack of gas gathering and processing systems to take it to market. The organization, which includes seven trade associations and more than 40 Texas operators, said it maintains the right to flare for safety reasons.
Vaccines, growing demand keep $60 oil in sight
Elizabeth Low and Alex Longley, Bloomberg
Feb. 5, 2021
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The increasing availability of vaccines is driving demand outlook for oil.Elizabeth Conley, Houston Chronicle / Staff photographer
Oil rose toward $60 a barrel in London as supplies continue to tighten while the demand outlook improves with the roll-out of coronavirus vaccines.
Brent climbed for a sixth day as it closed in on a level last reached in February 2020, before Covid-19 upended global energy markets. Crude stockpiles tied to oil futures in China fell to the lowest since June 2020, according to data analytics company OilX, the latest sign of ebbing inventories in the world’s largest importer.