Natural gas prices at the Waha hub in the Permian basin in Texas slumped to a negative value of -$2.00 per million British thermal units (MMBtu) this week as the recent rise in oil prices prompts producers to …
(Bloomberg) – Oil will need to be closely watched in the coming months to ensure “a sound and sustainable market balance” during an expected surge in demand, OPEC said in its monthly oil market report.
The producers group …
(Bloomberg) – Enterprise Products Partners overcame the last regulatory hurdle to build a proposed deepwater oil port off the coast of Texas aimed at helping record oil exports to flow to markets in Asia and Europe.
The United …
OPEC+ once again extended its oil production cuts this month. The decision was anything but unexpected and, unlike previous production policy announcements, it had the desired effect on prices. However, it could only work for so long. Soon, …
U.S. electric utilities predict a tidal wave of new demand from data centers powering technology like generative AI, with some power companies projecting electricity sales growth several times higher than estimates just months earlier.
Nine of the top …
WASHINGTON – The United States and Japan announced a joint partnership to accelerate development and commercialization of nuclear fusion, the U.S. Department of Energy said on Wednesday.
The partnership was announced as Japanese Prime Minister Fumio Kishida was …
Uncertainty about the pace of renewable energy growth with the U.S. presidential election approaching has pushed investors to withdraw money from funds invested in renewables stocks—so much that these funds booked the biggest quarterly withdrawal ever in the …
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 5.8 million barrels from the previous week. At 457.3 million barrels, U.S. crude oil inventories …
(Bloomberg) – A U.S.-style megadeal is possible in Canada’s oil patch, though the pressures that pushed Exxon Mobil Corp. and Chevron Corp. to pursue large takeovers aren’t as strong north of the border, says Bank of Montreal’s top …
HOUSTON – Prices for heavier crude oil along the U.S. Gulf Coast have climbed in recent weeks, trading at a rare near-par with lighter oil, a sign of supply tightness that could add to rising gasoline prices.
Refineries …
U.S. supermajor Chevron has quit operations in Myanmar by transferring its stake in a natural gas field and an associated pipeline to its former partners in the ventures, after pledging to leave the Southeast Asian country following a …
(Bloomberg) – International oil companies listed in the U.S. benefit from higher multiples, greater access to capital and a friendlier investor base, according to Shell Plc’s former chief executive officer.
“It’s a major issue,” Ben van Beurden said …
Energy Shots (Mobius Risk Group): Why China’s long-term economic outlook is complicated by an aging population and shrinking labor force.
Long-Term Growth Handicapped by Aging Population: China’s hopes to become a high-income developed …
HOUSTON – Oil prices dipped for a second straight day on Tuesday, as talks for a ceasefire in Gaza continued, but losses were limited to less than a dollar a barrel as Egyptian and Qatari mediators met resistance …
(Bloomberg) – Jamie Dimon said U.S. delays of liquefied natural gas (LNG) projects were done for “political reasons” to pacify those who believe oil and gas projects should be stopped — a position he calls “wrong” and “enormously …
HOUSTON and CALGARY, AB, April 8, 2024 /PRNewswire/ — Chord Energy Corporation (NASDAQ: CHRD) (“Chord” or “Chord Energy”) and Enerplus (NYSE:ERF) Corporation (TSX: ERF) (NYSE: ERF) (“Enerplus”) announced that the waiting period under …
(Bloomberg) – Mexico’s state-controlled oil company said a fire at one of its Akal-B oil platforms in the Campeche Bank left nine people injured Saturday afternoon.
Petroleos Mexicanos, also called Pemex, said two of the injured were its …
GEORGETOWN – Guyana’s efforts to use its natural gas resources to fuel a power plant that would slash the South American nation’s energy costs have snagged on construction delays and threaten to curtail the rising oil hotspot’s revenue …
Africa’s biggest crude oil producer, Nigeria, is expected to receive a $1 billion loan from the African Export-Import Bank (Afreximbank) next month as part of a larger crude oil prepayment facility aimed at shoring up forex reserves and …
U.S. crude oil prices last week climbed to their highest this year, but a weak natural gas market, steeper costs and a focus on shareholder returns over new production are keeping shale drillers from big output increases in …
(Bloomberg) – Chesapeake Energy Corp.’s $7.4 billion takeover of Southwestern Energy Co. has been delayed until the second half of the year after antitrust regulators demanded more details from the natural gas operators.
The transaction, which aims to …
LONDON -Shell said on Friday it expects significantly lower results from its liquefied natural gas trading business in the first quarter of 2024 compared with the previous three months.
In an update ahead of quarterly results on May 2, …
(Bloomberg) – Republican House leadership is considering including a provision in a potential aid package for Ukraine that would require the Biden administration to approve some liquefied natural gas (LNG) export projects, according to people familiar with the …
This week’s Baker Hughes Rig Count shows that U.S. had a decrease of 1 over last week, resulting in a total count of 620 rigs. Canada had a decrease of 15 over last week, resulting in …
Saudi oil giant Aramco, the world’s top crude oil exporter, hiked on Friday the prices of most of its crude grades for May, as Middle Eastern benchmarks are strengthening in a market that looks increasingly tight.
For a …
LONDON – Oil prices extended gains on Friday and were on course for a second weekly gain, supported by geopolitical tensions in the Middle East, concerns over tightening supply and expectations about demand growth as economies improve.
Brent
(Bloomberg) – Petroleo Brasileiro’s shares swung wildly on Thursday as traders digested local media reports on the impending departure of Chief Executive Officer Jean Paul Prates and the prospect of future dividend payments.
Petrobras, as the state-controlled oil …
Surging U.S. oil production and shifting global oil flows amid geopolitical flare-ups have boosted American crude exports to record-high levels in recent months. Now U.S. oil is encroaching on the key markets of the OPEC+ group, which has …
(Bloomberg) – OPEC+ chose to stick with oil production cuts for the first half of the year, keeping global markets tight and potentially sending prices higher.
A panel of key members led by Saudi Arabia recommended no policy …
MOSCOW/LONDON – When engineers at Russian oil firm Lukoil discovered a turbine had broken at their largest refinery on January 4, they quickly realised the problem was far from trivial.
There was only one company that knew how …
