Port Maintenance Drags Russia’s Oil Shipments Down to Three-Month Low

Maintenance works at Russia’s busiest oil ports dragged down weekly crude oil shipments to the lowest level in over three months as the ports of Primorsk on the Baltic Sea and Kozmino in the Far East halted vessel departures for four days each in the w…

Exxon and Partners’ Net Profit From Guyana’s Oil Soared in 2023

ExxonMobil, Hess, and CNOOC of China booked a combined $6.33 billion in net profit for their joint oil operations offshore Guyana last year, with net profit margins topping that of chip maker Nvidia, according to Guyanese government data cited by Reute…

Heat Waves Challenge Asian Power Grids and Price Sensitive Buyers Searching for LNG

Spiking natural gas consumption across South and Southeast Asia continues as dwindling domestic production and increasing power demand continue to drive global LNG market interest.

Finland’s Gasum to stop Russian LNG import in line with sanctions

Finnish energy firm Gasum, a key gas supplier to the Nordic region, will halt purchases and imports of liquefied natural gas (LNG) from Russia in July in line with fresh European Union sanction, the company said on Tuesday. [Image: Gasum]

July Natural Futures Prices Rangebound Ahead of Expiration but Technicals Suggest Upside Ahead

Natural gas analysts looking at technical market indicators expected July futures to struggle ahead of Wednesday’s expiration, while market bulls bet on weather support to drive August futures past the next major point of resistance.

Mitsui Building Out Eagle Ford Natural Gas-Weighted Portfolio with Eye on LNG, CCS

Japan’s Mitsui & Co. Ltd. is continuing to build out its Lower 48 natural gas-weighted holdings after clinching another acquisition in the Eagle Ford Shale of South Texas.

Natural Gas Futures Sink, with U.S. Production Estimates Revised Higher

July natural gas futures resumed their decline in early trading Tuesday, undercut by higher estimates for Lower 48 production.

Former CEO of Indonesia’s Pertamina jailed over Cheniere LNG contract

A former chief executive of Indonesia’s state energy firm Pertamina has been sentenced to nine years in jail for graft in a case related to a long-term contract to procure liquefied natural gas from a unit of U.S. company Cheniere Energy.

EUROPE GAS-Prices edge higher on strong LNG demand, supply concerns

Dutch and British wholesale gas prices edged up in early trade on Tuesday, supported by strong competition from Asia for cargos of liquefied natural gas (LNG), while fears over potential supply disruptions also buoyed sentiment.

Siemens Energy, GE Vernova to develop Saudi CCGT

The gas-fuelled power plants—Taiba 1 and 2, and Qassim 1 and 2—will be built in the western and central regions of Saudi Arabia over the next few years. [Image: Siemens Energy]

Worley secures FEED contract for Queensland gas compression facility

Worley will help APLNG capitalise on its share of coalbed methane produced within the Angry Jungle gas field. [Image: Worley]

China’s LNG imports set to slow: Kemp

China appears to have taken advantage of low prices in the spot market so far in 2024 to boost the amount of gas in storage, absorbing some of the extra fuel that would otherwise have been sent to Europe.

TMK Energy secures environmental approval for Mongolian CBM project

With this approval, TMK has been granted permission to conduct drilling and appraisal activities through 2029.

Rising US labor costs threaten to derail new LNG projects

A shortage of skilled labor and nagging inflation from strong wage growth on the U.S. Gulf Coast are pressuring liquefied natural gas (LNG) developers and delaying some projects from reaching a financial go-ahead.

Chariot, Vivo pen heads of terms for gas offtake from Loukos licence in Morocco

Chariot intends to sell initial volumes of up to 3mn m³/day to the midstream CNG business under a long-term gas sales agreement.

Is This The Beginning Of A Reconciliation Between The U.S. And Saudi Arabia?

The signing of a 20-year deal for the U.S.’s NextDecade Corporation to sell liquefied natural gas (LNG) to Saudi Arabia’s flagship company, Aramco, could have a significance way beyond the confines of the energy market. Following Russia’s invasion of U…

American Jet Fuel Finally Sees Covid Rebound

Last week, crude oil futures finished the week higher on indications of stronger U.S. demand and a rising perception of risk from a wider Middle East conflict that could endanger oil flows from the region. Attacks by Houthi rebels continued on the Red …

Natural Gas Futures, Spot Prices Rally Amid ‘Extremely Bullish’ Weather Patterns

Natural gas futures slumped further early Monday, but reversed course and avoided falling back for the seventh time in eight sessions. Traders shifted focus from higher production levels to mounting cooling demand that could further narrow storage surp…

The Looming Decline of Advanced Economies

It may be pleasant to think that the economies that are “on top” now will stay on top forever, but it is doubtful that this is the way the economy of the world works. Figure 1. Three-year average GDP growth rates for Advanced Economies based on data pu…

July Natural Gas Bidweek Prices Jump as Summer Heat Bolsters Demand

Baseload natural gas prices advanced during the first day of July bidweek trading on Monday, supported by intense heat taking grip across the Lower 48, with forecasts pointing to more of the same in July.

Business World Begins U-Turn on Climate Targets

Barely a couple of years ago, setting climate targets and emission reduction plans was de rigueur in the business world. There was a veritable race to out-target competitors in order to win the hearts, minds, and wallets of customers and investors. Now…

Hitting Chinese EVs with new tariffs raises fears of retaliation against Canada

Ottawa announces 30-day consultation on how to protect sector in which it has invested billions

Investigation Reveals Russian Firms Are Exporting Stolen Ukrainian Grain

Russian firms shipped tens of thousands of tons of wheat and peas out of occupied parts of Ukraine in 2023 to EU member Spain, NATO member Turkey, and Azerbaijan, the investigative unit of RFE/RL’s Ukrainian Service, Schemes, and its partners have foun…

Upstream Underinvestment Seen Driving Oil, Natural Gas Production Declines in Mexico

The International Energy Agency (IEA) is forecasting a substantial decline in oil supply from Mexico between 2024 and 2030, a trend that would most likely result in lower natural gas production as well.

TTF, JKM Steady Amid Hot Weather, Mixed Supply Outlook — LNG Recap

Global natural gas prices continued to trade sideways on Monday as ample supplies were available and forecasts were largely unchanged.

Europe’s Top Airline to Introduce Surcharge to Cover Cost of Clean Fuel

The Lufthansa Group, the biggest airline group in Europe, is introducing a so-called Environmental Cost Surcharge of up to $77.20 (72 euros) per flight to cover part of the costs for using additional volumes of sustainable aviation fuel (SAF), the Germ…

Soaring Costs Put New U.S. LNG Export Projects at Risk of Delays

Surging labor and construction costs are plaguing some major U.S. LNG export projects, threatening to delay new LNG supply to international markets.    Wage growth since 2021, a shortage of skilled workers, and rising costs of materials with the inflat…

Asia Coal Imports Remain Strong in June

Coal imports into Asia this month are expected to remain strong despite a slight decline in coal demand from China and India—the biggest importers. Japan, the third-biggest, is the only one of the top coal importers in Asia set to see an increase in im…

SpaceX Leads the Way in Sustainable Space Exploration

As of early last week, Elon Musk’s SpaceX had completed 356 launches, 319 landings, and 290 relights, according to flight data from Fox News. This is a monumental achievement for the world’s first private space company to pioneer and deploy reusable ro…

July Natural Gas Futures Up with Weather; Texas Cash Tumbles Amid Pipeline Constraints — MidDay Market Snapshot

After sinking as low as $2.635/MMBtu early Monday, prompt month natural gas futures were trading higher through midday, with widespread heat providing support.

Sixty North begins mining at Mon gold project, NWT

Sixty North Gold Mining (CSE: TXTY; OTC Pink: SXNTF) has commenced mining at the wholly owned historic Mon gold mine 45 km […]
The post Sixty North begins mining at Mon gold project, NWT appeared first on Canadian Mining Journal.

Green River Gold begins placer mining on Swift River in BC

Green River Gold (CSE: CCR; OTC Pink: CCRRF) has begun mining on its 100%-owned, full permitted Wabi claims on the Swift River. […]
The post Green River Gold begins placer mining on Swift River in BC appeared first on Canadian Mining Journal.

Fireweed upsizes offering to $43M for critical metals in northern Canada

Fireweed Metals (TSXV: FWZ; OTCQX: FWEDF) has closed its oversized private placement for gross revenues of $43 million, a 33% increase from […]
The post Fireweed upsizes offering to $43M for critical metals in northern Canada appeared first on Ca…

Gold recovery tops 99% at Bulyanhulu, thanks to Gekko ILR

Gekko’s InLine leach reactor (ILR) has achieved notable success at Barrick Gold‘s Bulyanhulu gold mine in Tanzania, achieving exceptional recovery rates of 99%+. Before acquiring […]
The post Gold recovery tops 99% at Bulyanhulu, t…

Paladin Energy to acquire Canada’s Fission Uranium for $1.14 billion

Canada’s Fission Uranium (TSX: FCU; OTCQX: FCUUF) has signed a deal to be acquired by Australian company Paladin Energy (ASX: PDN; OTCQX: […]
The post Paladin Energy to acquire Canada’s Fission Uranium for $1.14 billion appeared first on Canadian…

Aluminum Prices Face Downward Pressure Amid Oversupply Concerns

Via Metal Miner Overall, the Aluminum Monthly Metals Index (MMI) rose 4.09% from May to June. Aluminum prices outperformed all other base metals throughout May, with a 5.28% rise. Prices found a peak at their highest level since June 2022 on May 29 bef…

Sitka consolidates Yukon camp with acquisition of Victoria Gold’s Clear Creek

Sitka Gold (TSXV: SIG; OTCQB: SITKF) is expanding its district-scale landholding within the Clear Creek gold camp of Yukon by acquiring the Clear […]
The post Sitka consolidates Yukon camp with acquisition of Victoria Gold’s Clear Creek app…

Australian Fund: Coal Exclusions Won’t Make a Difference to Net Zero Efforts

Pension and investment funds dropping coal companies from their portfolios will not make a difference for the world’s efforts to get to net zero, the chief investment officer of a large Australian pension fund told Bloomberg on Tuesday.   “We don’t thi…

Canada Is Considering Imposing Tariffs on Chinese EVs

Canada may follow the example of the EU and the U.S., and impose import tariffs on Chinese electric vehicles, Reuters has reported, citing finance minister Chrystia Freeland. “Chinese producers are quite intentionally generating a global oversupply tha…

Why U.S. Diesel Demand Is Underwhelming

Lackluster diesel demand in the United States has weighed on oil market sentiment and oil prices in recent months. U.S. diesel demand has been underwhelming so far this year. Alongside weaker-than-expected gasoline demand, diesel consumption in the fir…

Covestro in “Concrete Transaction Negotiations” for $12.5B ADNOC Takeover

The year-long efforts of Abu Dhabi National Oil Company (ADNOC) to acquire German chemicals firm Covestro moved a step closer to a successful conclusion after Covestro said on Monday it had decided to “enter into concrete negotiations with Adnoc” and o…

U.S. Supreme Court Gets Involved in Emission Litigation

The U.S. Supreme Court has decided to hear a case that could have far-reaching implications for future energy infrastructure projects in the country by establishing the limits to federal agency power over emission assessments. On the face of it, the ca…

Gowest Gold announces go-private transaction at premium offer price

Canadian gold explorer Gowest (TSXV: GWA) has agreed with a group of existing shareholders collectively holding 91.5% of the company’s outstanding share […]
The post Gowest Gold announces go-private transaction at premium offer price appear…

How Canada’s greenwashing rules affect everyone — not just the oilsands

Pathways Alliance says new legislation that prompted it to strip its website will ‘silence’ other Canadian businesses

British Banks Have Abandoned North Sea Oil

Virtually all British banks have stopped financing smaller independent oil and gas producers, responsible for the bulk of output and investment in the North Sea, Neptune Energy has revealed. Changes in the UK tax regime, in particular a windfall levy o…

Pennsylvania Natural Gas Impact Fees Plunge on Lower Prices

Pennsylvanians are earning less money from the state’s substantial natural gas reserves because of a reversal in commodity prices.

Hercules Silver (TSXV:BIG) Reports Mixed Results and Challenges in Idaho Copper Exploration Program

Hercules Silver (TSXV:BIG) has released an update on its ongoing drilling program at the Hercules Project in western Idaho. The company, which focuses on developing copper and silver resources, has encountered variable porphyry alteration and mineralization in its recent drilling activities. Chris Paul, CEO and Director of the Company, commented in a press release: “Despite […]

The post Hercules Silver (TSXV:BIG) Reports Mixed Results and Challenges in Idaho Copper Exploration Program appeared first on MiningFeeds.

Equinor expects to restart Hammerfest LNG plant on Monday

Equinor remains on track to restart its Arctic Hammerfest LNG plant on Monday after a weekend power outage halted production, a company spokesperson said. [Image: Equinor]

U.S. Remains The World’s Most Attractive Renewables Market

The United States kept its number one spot on EY’s Renewable Energy Country Attractiveness Index in the latest ranking of the world’s top markets on the attractiveness of their renewable energy investment and deployment opportunities. EY’s Renewable En…

In $1.5B Deal with Siemens, Saudis Target Gas-Powered Plants

Saudi Arabia has signed a $1.5-billion deal with Siemens Energy for two gas-fired power plants that will produce electricity for the Kingdom as soon as 2026, with full operations to begin the following year, Gulf media reported on Monday. Siemens will …

Mexico’s New Refinery Won’t Be Ready for Commercial Output in 2024

Mexico’s newest refinery, the long-delayed Olmeca processing facility with a planned capacity of 340,000 barrels per day (bpd), is unlikely to be ready to produce commercial quantities of fuels by the end of this year, five sources familiar with the op…

EU adopts new sanctions against Russia, including LNG

The European Union will add 27 vessels, including oil and liquefied natural gas tankers, to its list of entities under sanctions as part of its latest measures against Russia, two sources familiar with the matter said on Monday.

Over-subscribed $20 Million Flow-Through Offering closed with the backing of leading mining investors Robert Friedland, Rob McEwen, CVMR, and Terra Capital

TORONTO , June 24, 2024 – Power Nickel Inc.  (the “Company” or “Power Nickel” ) (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) is pleased to announce that it has closed an over-subscribed flow-through offering (the ” Offering“) for gross proceeds of $20,062,497.50 through the issuance of 16,049,998 flow-through units (the ” FT Units“) at a price of $1.25 per FT Unit. Each FT Unit is comprised of one flow-through common share and one-half […]

U.S. to Set New Oil Production Record, But 2025 Looks Bleak

I have noted in recent articles that U.S. oil production is presently at about the same level it was 10 months ago. In August 2023, the U.S. produced 13.0 million BPD of crude oil. That gradually rose to 13.3 million BPD by the end of 2023 but has sinc…

Pipeline Giant Enbridge Partners With First Nations for Wind Project in Canada

Enbridge is teaming up with a consortium of First Nations to develop a wind power project in Canada’s Saskatchewan province in the first Indigenous partnership in renewables for the Canadian pipeline giant.  Enbridge and Six Nations Energy Development …

Pipeline Giant Enbridge Partners With First Nations for Wind Project in Canada

Enbridge is teaming up with a consortium of First Nations to develop a wind power project in Canada’s Saskatchewan province in the first Indigenous partnership in renewables for the Canadian pipeline giant.  Enbridge and Six Nations Energy Development …

Growing FSRU Demand Expected to Help Balance LNG Surplus Later This Decade

A wave of new LNG supply that’s expected to push global natural gas prices lower later this decade is likely to spur additional investments in floating storage and regasification units (FSRU) that could ultimately help to balance any glut.

U.S. Natural Gas Venting, Flaring Rates at Historic Lows as Production Climbs

Natural gas venting and flaring rates by U.S. operators fell to an 18-year low in 2023, based on preliminary state level data gathered by the U.S. Energy Information Administration (EIA).

Natural Gas Futures Directionless Amid Vying Fundamentals

With U.S. natural gas production returning and temperatures climbing, the natural gas futures market continued to vacillate Monday between gains and losses in early trading.

Mitsui & Co. completes acquisition of Texas shale gas asset

Mitsui E&P USA, the US subsidiary of Mitsui & Co., will drill wells to evaluate well performance and develop and operate the asset, aiming for full-scale development after 2026. [Image: Mitsui & Co.]