Global Energy News Roundup: RNG Growth, Norway Strike Averted, Price Analysis

Clean Energy Fuels has started up a new renewable natural gas (RNG) plant in Idaho, according to a report from Rigzone. The facility has the capacity to process more than 5 million gallons a day of manure. The company called it "one of the largest single-site dairies and RNG facilities in North America," Rigzone reported on June 5.

Separately, a strike that threatened Norwegian oil and gas production has been averted, Rigzone reported. New agreements including pay increases were reached for about 8,000 offshore workers. The potential strike had threatened to cut Norwegian production by over 45,000 barrels of oil equivalent per day.

In market analysis, economists at Macquarie Group, including Chief Economist Ric Deverell, recently asked "Why Is Oil Still Under $100?" in a report, according to a separate Rigzone summary from June 5.

For the Bakken formation, these developments highlight broader industry trends. The growth of large-scale RNG projects represents continued investment and competition in the natural gas space, which could influence long-term gas market dynamics relevant to North Dakota producers. The resolution of labor tensions offshore Norway helps maintain global supply stability, avoiding a potential price-supportive disruption. Meanwhile, ongoing analysis from major financial institutions like Macquarie focusing on oil's price ceiling underscores the complex market forces that ultimately determine revenue for Bakken crude.