Day: January 18, 2023

Artificial Intelligence is increasingly becoming an essential component of the energy industry. As world leaders get more serious about meeting climate goals, the energy industry is facing the mandate to completely transform the way it operates at an u…

Natural gas futures floundered back into freefall Wednesday – the case of a majority of trading sessions early in the new year – as production climbed, benign weather persisted and the market braced for an anemic storage withdrawal. At A Glance: Prompt month sheds 27.5 cents Production hits 102 Bcf/d Weather forecasts wobble After a…

The post Natural Gas Futures, Cash Prices Fail to Sustain Momentum Amid Signs of Supply/Demand Imbalance appeared first on Natural Gas Intelligence

On Thursday, a strike in France halted wholesale fuel deliveries from three refineries operated by TotalEnergies on the first day of a series of planned nationwide strikes in many sectors against President Emmanuel Macron’s plan to raise the retirement…

We are currently living through a “global energy crisis of unprecedented depth and complexity,” according to this year’s annual energy outlook from the International Energy Agency (IEA), which warns that “there is no going back to the way things were” …

Commonwealth Edison Co. (ComEd) has filed to raise monthly electricity rates by about $4.25 for the average monthly residential electricity bill annually from 2024-2027 as it strengthens the grid and prepares for increased electrification.  The Chicago-based Exelon Corp. subsidiary noted that its electricity utility customers currently see an average bill of $93/month, about 20% lower…

The post Chicago’s ComEd Seeking Four-Year Electricity Rate Increase to Bolster Electric Grid appeared first on Natural Gas Intelligence

An easing of Covid-19-related restrictions and shifting supply chains have bolstered growth in Asia, even as inflation and climate change generate significant headwinds. While South-east Asian countries such as Thailand and Vietnam had lifted restricti…

Achieving geopolitical stability and global energy security shared the limelight this week as top business and government leaders made their annual trek to Davos, Switzerland. The annual meeting of the World Economic Forum (WEF) addressed worldwide inequity and the chances for a recession. However, several sessions focused on two points: Russia’s invasion of Ukraine, intertwined…

The post Achieving Global Energy Security and Reducing Carbon Emissions Share Spotlight in Davos appeared first on Natural Gas Intelligence

Electric vehicle (EV) makers are facing a conundrum due to the uncertain outlook of the EV market in 2023. On the one hand, governments worldwide are pushing for a transition to green, with plans to roll out bans on the sale of new fossil fuel-powered …

Via AG Metal Miner   The global iron ore price may be in for a bit of a ride. Sector analysts foresee high price volatility in the first months of 2023, mainly due to the increasing number of coronavirus cases in China. Adding fuel to the fire is the f…

Bolivian gas was once the beating heart of South America’s natural gas production, with powerhouse neighbors Argentina and Brazil relying on the landlocked country’s pipeline shipments to keep the lights on. But this is seen coming to an end. Bolivian gas production will decline more rapidly than expected, falling from 1.4 Bcf/d in 2022 to…

The post Argentina’s Vaca Muerta Production Helping Counteract Bolivia’s Natural Gas Decline appeared first on Natural Gas Intelligence

Crude oil imports in Japan, the world’s fourth-largest crude buyer, jumped by 8.5% annually in 2022, the first yearly increase in a decade, while the value of crude imports nearly doubled to a record, data from the Japanese Finance Ministry showed on T…

University of Michigan scientists developed a new kind of solar panel achieving 9% efficiency in converting water into hydrogen and oxygen – mimicking a crucial step in natural photosynthesis. Outdoors, it represents a major leap in the technology, nea…

U.S. natural gas and oil drilling permit activity ended the year surpassing expectations, climbing 13% in December or up by 389 permits from November, according to Evercore ISI. The energy analyst team led by James West compiles domestic permitting figures using state and federal data. Lower 48 permits often are issued three to six months…

The post Lower 48 Natural Gas, Oil Permitting Rebounds in December, Led by Texas and Wyoming appeared first on Natural Gas Intelligence

After nearly a year of gradually mounting sanctions, as major world powers cut their ties with Russia over its invasion of Ukraine, it appears that thenation is finally feeling the brunt of the sanctions on its economy. Russia’s energy revenues have fa…

The Canadian province of British Columbia and the Blueberry River First Nations have reached an agreement on land, water, and resource stewardship that will resume oil and gas development in the Montney shale formation in northeast B.C. The agreement e…

Australia’s energy giant Santos reported today record sales revenues for 2022 on the back of the energy crisis in Europe that spurred higher LNG exports from every producer country. Sales revenues rose 65% on the year in 2022, Santos said, adding its c…

The Federal Reserve has tasked the largest U.S. lenders to make an assessment of the risks they are vulnerable to in case of an extreme weather event caused by climate change. The U.S. central bank recently released information about a “pilot climate s…

Kyrgyzstan has bought a fresh batch of Turkish-made military drones, bolstering an aerial fleet that already includes Bayraktar TB2 unmanned aerial vehicles.  Writing in a post on Facebook on January 17, Daiyrbek Orunbekov, the press secretary for the …

Energy conservation in hot weather could raise mortality rates, a new study that has reviewed data from Japan showed this week. The study, which will be published in the American Economic Journal: Applied Economics, argues that the Japanese government’…

Continued increases in U.S. dry natural gas production are expected to outpace domestic demand and exports this year and in 2024 according to the EIA Continued increases in U.S. dry natural gas production are expected to outpace domestic demand and exp…

Jera Co. Inc., Japan’s leading power producer and one of the world’s top buyers of LNG, has signed two tentative agreements for ammonia supply that include exploring plans for a Gulf Coast production facility fed by low-carbon natural gas. Jera disclosed Monday memorandums of understanding (MOU) with a unit of Yara International ASA and CF…

The post Jera Inks Tentative Agreements for Ammonia Offtake, Gulf Coast Hub Fueled by Natural Gas appeared first on Natural Gas Intelligence

Crude oil inventories rose by 7.615 million barrels, American Petroleum Institute (API) data showed on Wednesday. U.S. crude inventories increased 13 million barrels last year, according to API data, while crude stored in the nation’s Strategic Petrole…

Hungary is once again threatening to water down the European Union’s sanctions regime against Russia by insisting that nine people be removed from a list of restrictive measures imposed on more than 1,300 individuals and 170 entities during several rou…

Kyrgyzstan has bought a fresh batch of Turkish-made military drones, bolstering an aerial fleet that already includes Bayraktar TB2 unmanned aerial vehicles.  Writing in a post on Facebook on January 17, Daiyrbek Orunbekov, the press secretary for the …

Northwest Europe is half-way through the winter heating season and gas inventories are at a record high following an extended period of exceptionally mild temperatures since the middle of December. Preparation and luck have combined to rescue Europe fr…

Germany must rev up the speed of a hydrogen law revision, which is pending in Berlin, to allow for related investments in gas transport networks up to the end of the decade, said the head of the biggest gas pipeline operator, Open Grid Europe (OGE).

Asking natural gas and oil executives about the market, their projects, cash flow and budgets is a staple of the NGI Thought Leader team’s daily routine. Turning that microphone around to ask journalists the questions is a bit trickier! The Thought Leader team was up for the challenge, though, to editorialize as we enter 2023.…

The post What Are NGI’s Thought Leaders Forecasting for Natural Gas Prices, LNG, Russia – and Beyond? appeared first on Natural Gas Intelligence

Following back-to-back weekly declines to start the new year, natural gas futures on Tuesday rebounded amid forecasts for fresh bouts of cold later this month. The February Nymex gas futures contract gained 16.7 cents day/day and settled at $3.586/MMBtu. March rose 5.7 cents to $3.253. NGI’s Spot Gas National Avg. on Tuesday jumped 90.5 cents…

The post Natural Gas Futures, Spot Prices Rally Ahead of Cold Front appeared first on Natural Gas Intelligence

Natural gas futures reversed lower in early trading Wednesday as updated forecasts reduced the amount of cold expected for the Lower 48 during the final week of January. After rallying 16.7 cents in the previous session, the February Nymex contract was off 13.6 cents to $3.450/MMBtu at around 8:40 a.m. ET. Both the American and…

The post Weaker Late January Cold Outlook Sends Natural Gas Futures Lower Early appeared first on Natural Gas Intelligence

It will supply a combined 1.6mn metric tons/year of LNG to the two companies.

No, climate change is not wiping out rhinos, bison or any other species. The bison and the rhino are doing just fine thanks to good old-fashioned conservation. Continue reading →

The post Rhinos Gallop, Bison Charge; Despite Phony Climate Scares appeared first on Natural Gas Now.

Kyrgyzstan has bought a fresh batch of Turkish-made military drones, bolstering an aerial fleet that already includes Bayraktar TB2 unmanned aerial vehicles.  Writing in a post on Facebook on January 17, Daiyrbek Orunbekov, the press secretary for the …

Shell signed a concession agreement with Oman’s state-owned OQ, Marsa LNG, a joint venture between OQ and TotalEnergies, and Oman’s energy ministry to develop Block 10’s gas in December 2021.

Germany is exploring a trilateral solidarity agreement with Italy and Switzerland to provide mutual support in the event of an extreme gas shortage, the economy ministry said on Tuesday.

China’s reopening is set to drive global oil demand to a record high of 101.7 million barrels per day (bpd) this year, up by 1.9 million bpd from 2022, the International Energy Agency (IEA) said on Wednesday, raising its demand growth estimate for 2023…

Japan’s government is desperate to restart its idled nuclear fleet to cut import bills and carbon output, but local and popular opposition will slow the process to perhaps 6,000 MW/year. [Gas in Transition, Volume 2, Issue 12]

Where’s the electricity? That’s the big question for those promoting electric vehicles and subsidies for them ad infinitum without regard to the simple facts. Continue reading →

The post Electricity Elephant in the Room: Where’s the Beef? appeared first on Natural Gas Now.

The partners will consider tying the find back to the Irpa discovery.

Europeans have dialled down their heating this winter, apparently heeding government calls to conserve energy amid the Ukraine crisis, with some delaying switching it on by almost a month and setting the temperature lower, data shows.

Oil prices extended Tuesday’s gains into Wednesday, rising by 1% in early European trade, as market sentiment turned bullish on hopes that China’s reopening would boost demand growth and major developed economies may avoid recessions. The U.S. benchmar…

Russian forces kept focusing their offensive efforts on Bakhmut in the eastern region of Donetsk, Ukraine’s military has said, as Kyiv again urged its Western allies to speed up approval for the delivery of advanced heavy weaponry including modern tank…

The maintenance period at the Shell-operated Queensland Curtis liquefied natural gas (QCLNG) plant will be shortened to Jan. 19 from a previous date of Jan. 21, according to a notice on the Australian Energy Market Operator’s (AEMO) website.

Supplies are down 20% from the level in the final months of last year.

Continuing to operate in the country is untenable, the company said.

All three PSCs were awarded under the Malaysia Bid Round (MBR) 2022.

GE will provide services for three gas turbines to be installed at Guangdong Energy’s Dongguan Ningzhou plant and for ten aeroderivative turbines at five China Huadian power plants.

Portugal and Spain will formally ask the European Commission on Wednesday to extend the temporary Iberian cap on prices for natural gas and coal used by power plants, the Portuguese Environment Minister Duarte Cordeiro said on Tuesday.

This facility will be the second FLNG to be deployed in the Republic of Congo. [Image: Wison]

After a decade of exponential growth, the U.S. shale patch is no longer the swing producer on the global markets. That role is now back in the hands of OPEC and its largest and most influential members in the Middle East, analysts and industry executiv…

  Germany has ended its reliance on Russian gas. The news made some cheer and others smile sarcastically while they ask to see the bill. Cutting its independence on Russia for natural gas has become priority number one, not just for Germany but for the…