OAG360 Archives - Page 9 of 552

Cowboy Clean Fuels announces significant funding award to support commercialization of technology and build out of initial project in Wyoming

January 18, 2024

Oil and Gas 360 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 award GILLETTE, Wyoming – January 17, 2024 – Cowboy Clean Fuels, LLC (“CCF,” “we,” “us,” “our,” or “the Company”), a

Oil prices rise on strong IEA and OPEC demand estimates

January 18, 2024

CNBC 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 East. Brent crude futures gained 2 cents to $77.90 a barrel while U.S. West Texas Intermediate crude futures rose 22 cents, or

Weekly Gas Storage: Inventories increase by 88 Bcf- oil and gas 360

Weekly Gas Storage: Inventories decrease by 154 Bcf

January 18, 2024

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 12, 2024, according to EIA estimates. This represents a net decrease of 154 Bcf from the previous week. Stocks were

ExxonMobil, Mexico Pacific to bring Permian gas to global markets with third LNG deal

January 17, 2024

World Oil (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 project located on the west coast of Mexico. The volume originates from the option under the separate LNG SPAs executed

BP appoints Murray Auchincloss as permanent CEO

January 17, 2024

CNBC LONDON — Oil and gas major BP appointed Murray Auchincloss as permanent CEO, the company said Wednesday. His appointment comes roughly four months after his predecessor Bernard Looney resigned after less than four years in the post, citing undisclosed personal relationships with colleagues prior to becoming CEO. Auchincloss, then chief financial officer, was named interim CEO at the time of

Peak oil demand predictions “misguided” as innovation propels industry forward, OPEC Secretary says

January 17, 2024

World Oil (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 predictions of peak oil demand are following a similar trend,” Secretary-General Haitham Al Ghais said in a statement on the

Saudi oil price cut driven by weak market, not policy shift

January 17, 2024

Nasdaq 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 sources said. On Jan. 7, Saudi Arabia reduced the February official selling price (OSP) of its flagship Arab Light crude to Asia

Freezing temperatures in U.S. shut in over half of North Dakota’s oil production

January 17, 2024

World Oil (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 oil prices also rose on the Gulf Coast as Midwest refiners seek alternatives to North Dakota’s Bakken oil. As much

US natural gas demand hits record high amid severe cold snap

January 17, 2024

Nasdaq 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 freezing wells. The severe winter storm dumped snow across a broad part of the nation on Tuesday, shutting a Gulf Coast refinery in Texas, triggering

Oil falls as China’s economic recovery disappoints, dollar strengthens

January 17, 2024

CNBC 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 1.57%, to $77.06 per barrel. U.S. West Texas Intermediate crude futures (WTI) were down 92 cents, or 1.27%, at $71.48. Even the ongoing

Hydrogen Pipeline Infrastructure: Assessing Readiness with TOGC 2024

January 16, 2024

Oil and Gas 360 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 hydrogen implementation and how to adapt, maintain and monitor hydrogen infrastructure. The Congress is held in Milan, Italy, on February,

US energy tax credit trading grows to as much as $9 billion, study finds

January 16, 2024

Nasdaq 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 new study shows. President Joe Biden’s climate law aimed to stoke trillions of dollars of investment to wean the economy

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