One of the highlights of the business programme of the Transportation Oil and Gas Congress (TOGC 2024) is the topic of hydrogen readiness of infrastructure. C-level audience and leading technical specialists gather to discuss cases of
Post Tagged with: "360 News Desk"
Europe, Africa crude market tightens on Red Sea disruptions, China demand
The Brent crude market structure and some physical markets in Europe and Africa are reflecting tighter supply resulting partly from concern about shipping delays due to vessels avoiding the Red Sea, according to traders, LSEG data and analysts.
The …
U.S. rig count had an increase of 1 this week, at 620
This week’s Baker Hughes Rig Count shows that U.S. had an increase of 1 over last week, resulting in a total count of 620 rigs. Canada had an increase of 10 over last week, resulting in …
Biden administration taking heat from all sides over Louisiana LNG project
WASHINGTON – The Biden administration faces mounting pressure over whether to approve a massive new Louisiana LNG export project, with environmentalists saying the facility would undermine U.S. climate goals and business interests arguing it is essential for global energy …
9 million barrels of Saudi and Iraqi oil delayed amid Red Sea chaos
Tankers carrying nearly 9 million barrels of oil from Saudi Arabia and Iraq will delay their deliveries as they have diverted away from the Red Sea/Suez Canal route in recent days, and are now headed on the longer …
Oil heads for weekly gain as Middle East tensions support
LONDON -Oil rose on Friday and heading for a weekly gain, as Middle East tensions and oil output disruptions caused by cold weather in the U.S., the world’s biggest producer, balanced concerns about the health of the Chinese …
New methane emission laws could transform U.S. energy sector
The U.S. Environmental Protection Agency (EPA) could introduce new emissions fees for the production of methane in oil and gas projects across the country if approved. This month, the EPA proposed a new rule to encourage clean energy …
Philippines to begin exploration activities in oil-rich sea amidst China tension with U.S. as defense ally
(Bloomberg) – The Philippines is building defense alliances with the U.S. and other security partners to help pave the way for resource exploration in the oil-and-gas-rich South China Sea, the nation’s top defense official said, prompting a warning …
Deep freeze across Texas, Louisiana disrupts U.S. LNG exports
(Bloomberg) – The recent freeze across Texas and Louisiana disrupted scheduled exports of U.S. liquefied natural gas (LNG), temporarily tightening some supply of the heating and power-plant fuel.
The Cameron LNG export plant in Louisiana canceled at least …
Cowboy Clean Fuels announces significant funding award to support commercialization of technology and build out of initial project in Wyoming
The Wyoming Energy Authority has awarded CCF approximately $7.8 mm through the
Energy Matching Funds program
Machan Investments, CCF’s lead investor, has committed an additional $7.8 mm in equity capital to match and enable the funding …
Oil prices rise on strong IEA and OPEC demand estimates
Oil prices rose on Thursday as the IEA joined producer group OPEC in forecasting relatively strong growth in global oil demand this year, with price impetus also coming from disruption to U.S. output and geopolitical risks in the Middle …
U.S. crude oil inventories decrease by 2.5 million barrels
Weekly Crude Oil Storage as of January 12, 2024
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.5 million barrels from the previous week. At 429.9 million barrels, U.S. crude …
Weekly Gas Storage: Inventories decrease by 154 Bcf
Natural Gas Inventories as of January 12, 2024
The EIA has released its natural gas inventory report, showing a net decrease of 154 Bcf as of January 12, 2024.
Working gas in storage was 3,182 Bcf as of Friday, January …
ExxonMobil, Mexico Pacific to bring Permian gas to global markets with third LNG deal
(WO) – Mexico Pacific has signed a third long-term Sales and Purchase Agreement (“SPA”) with ExxonMobil LNG Asia Pacific (“EMLAP”) for an additional 1.2 MMtpa of liquefied natural gas (“LNG”) from Train 3 of Mexico Pacific’s Saguaro Energia …
Peak oil demand predictions “misguided” as innovation propels industry forward, OPEC Secretary says
(Bloomberg) –OPEC’s top official said forecasts that oil demand is heading toward a peak will prove just as misguided as earlier predictions that supply was reaching its zenith.
“Ultimately, peak oil supply has never come to pass, and …
Saudi oil price cut driven by weak market, not policy shift
LONDON – Saudi Arabia’s cut in official crude oil selling prices to Asia reflects weaker fundamentals of supply and demand, and does not imply a looming shift in OPEC+ policy or a fight for market share, analysts and industry …
Freezing temperatures in U.S. shut in over half of North Dakota’s oil production
(Bloomberg) – Freezing temperatures sweeping the U.S. shut in more than half of North Dakota’s oil production and curbed refinery operations in Texas.
The outage in the second-largest U.S. shale basin briefly lifted West Texas Intermediate futures. Physical …
US natural gas demand hits record high amid severe cold snap
U.S. homes and businesses used a record amount of natural gas on Tuesday as demand for the fuel for heating and power generation soared during an Arctic blast that also cut gas output to near a 13-month low by …
Oil falls as China’s economic recovery disappoints, dollar strengthens
Oil fell more than $1 on Wednesday as economic growth in China, the world’s second-largest crude user, slightly missed expectations, raising concerns about future demand, while U.S. dollar strength dented investor’s risk appetite.
Brent crude futures fell $1.23, or …
US energy tax credit trading grows to as much as $9 billion, study finds
NEW YORK – Developers of renewable energy projects selling unused U.S. tax credits to other companies now account for a market worth between $7 billion and $9 billion, buoyed by legislation in 2022 that made these trades possible, a …
Market to be short oil from 2025 onwards, Occidental CEO at Davos
DAVOS, Switzerland – The oil market could be heading for a supply crunch from 2025 onwards as oil exploration fails to keep pace with demand, Occidental Petroleum Chief Executive Vicki Hollub said on Tuesday.
Hollub, who spoke on the …
Houthis strike U.S. merchant vessel after targeting warship
Hours after targeting a U.S. warship with a cruise missile in the Red Sea, Yemen’s Iran-backed Houthis fired a missile and struck a U.S.-owned merchant vessel in the Gulf of Aden, giving further momentum to the escalation of …
Oil lobby warns Biden about anti-oil policies
“American voters are watching.” This is what the president of the American Petroleum Institute had to tell the federal government at an API event this week. Voters are watching, and they are less than thrilled with the current …
Frigid temps cut US natural gas supply as demand soars, Texas faces possible shortfall
U.S. natural gas output fell to a preliminary 11-month low on Sunday as frigid weather froze wells across the country, while gas demand for heating and power generation was on track to hit record highs.
In Texas the state’s …
