Day: February 21, 2023

The current year is shaping up as another lackluster year for the U.S. energy sector, with oil and gas stocks sitting out a wider market rally. The energy sector’s favorite benchmark, the Energy Select Sector SPDR Fund (XLE), is up a mere 0.1% compared…

Climate cultists are increasingly speaking truths and telling us exactly what they’re all about—control of us—and they’re asking for rationing as their tactic. Continue reading →

The post Rationing Is the Tactic: Control Is the End Game appeared first on Natural Gas Now.

Fresh off a week of mostly steady declines, natural gas futures extended their losses on Monday as springlike weather blanketed much of the Lower 48. With production strong and a storage surplus set to grow in the coming weeks, the March Nymex gas futures contract settled at $2.073/MMBtu, down 20.2 cents from Friday’s close. Spot…

The post Freeport Gains Federal Approval for Restart, but Not Before Natural Gas Futures Fall Further appeared first on Natural Gas Intelligence

One of the world’s largest chemical makers, UK-based INEOS, has entered U.S. oil and gas production after agreeing to buy Eagle Ford assets from Chesapeake Energy for $1.4 billion, thus gaining access to cheaper natural gas.     The deal marks INEOS En…

The head of Wagner Yevgeni Prigozhin has accused the Russian Defense Ministry of treason for failing to supply Wagner fighters in Ukraine with munitions, the Moscow Times has reported, citing a statement Prigozhin made through one of his companies. The…

  For several years now, Iraq has been able to access all the technology required to turn part of its abundant crude oil and/or gas resources into the metaphorical gold at the end of the hydrocarbons production rainbow – petrochemicals. Last week, acco…

A year since Russia’s invasion of Ukraine altered the energy landscape across the globe, Mexico’s natural gas model has been transformed. As the world’s biggest consumer of U.S. produced natural gas, Mexico has set its sights on using its geographic position to its advantage. By importing natural gas from the U.S. at the cheapest prices…

The post One Year After Russia’s Invasion of Ukraine, Mexico’s Plans Have Shifted to LNG appeared first on Natural Gas Intelligence

The price of carbon dioxide on the European Union emissions market hit a record high of 98.30 euros per ton, or $104, as Europe braces for a cold spell and a forecast for low wind power output. “Temperatures in Northern Europe are actually now forecast…

The European Union managed to beat its target for cutting gas demand this winter, according to new data from Eurostat. Eurostat data shows that the European Union’s winter demand fell by 19 percent compared to the five-year average, beating the 15 perc…

Saudi Arabia’s state-run oil giant, Saudi Arabia, is now the world’s third-largest company by market capitalization, according to the companiesmarketcap.com list. Aramco, with a market cap of $1.903 trillion, slid to the number three position behind Ap…

Comstock Resources Inc. spent 2022 shoring up its western Haynesville acreage that could provide “a lot of potential” in the independent’s long-term strategy to supply a surge LNG growth on the Gulf Coast, said CEO Jay Allison. Looking to the liquefied natural gas buildout, “it’s going to run its course,” he said during the fourth…

The post Comstock Prepping for Increased LNG Supply Demand with Freeport’s Return appeared first on Natural Gas Intelligence

Green energy is having a banner year. In the European Union, policymakers have effectively “turbocharged the green transition” in response to the growing threat of an all-out energy crisis due to the Russian war in Ukraine and its associated sanctions….

With its direction aimed at expanding the natural gas business, including deliveries to export LNG, Williams is looking to repeat the 2022 performance, when it delivered record results from its onshore and deepwater operations. CEO Alan Armstrong on Tuesday was joined by the executive team to deliver quarterly and year-end results. The results were paired…

The post Williams Expanding in Northeast, Gulf Coast and West to Move Natural Gas to U.S. Customers, LNG Clients appeared first on Natural Gas Intelligence

In a step to support decarbonization, Linde plc signed a long-term contract to supply low-carbon hydrogen and nitrogen to OCI NV’s planned blue ammonia plant southeast of Houston.  OCI, based in the Netherlands, is one of the world’s largest fertilizer manufacturers. It launched the natural gas-fueled blue ammonia project, to be based in Beaumont, in…

The post OCI’s Texas Blue Ammonia Project Gains Linde as Supplier appeared first on Natural Gas Intelligence

Freeport LNG Development LP on Tuesday won approval from federal regulators to restart commercial operations and said it would ramp up to 2 Bcf/d of production, enough to meet its long-term contracts in the coming weeks.  The Federal Energy Regulatory Commission authorized full service to resume on two liquefaction trains eight months after an explosion…

The post Freeport LNG Cleared to Restart Commercial Operations Eight Months After Explosion appeared first on Natural Gas Intelligence

The European Union is preparing another sanctions package on Russia to coincide with the anniversary of the invasion of Ukraine on February 24. EU ambassadors had a first discussion on the measures prepared by the European Commission last week and, acc…

Russia called a UN Security Council meeting on Tuesday on the subject of the Nord Stream pipeline sabotage of last September, the AP said. The Security Council reviewed Russia’s draft resolution on Monday, but said there was opposition to the resolutio…

In early 2018, UK Prime Minister Theresa May visited China with a British business delegation, seeking a free trade deal and expressing optimism over Beijing’s “one country, two systems” formula for governing Hong Kong (Global Times, January 31, 2018; …

  Via AG Metal Miner    Several steel mills in central and southern Turkey have suspended operations, declaring force majeure. The decision comes after two earthquakes struck those areas and Syria on February 6. Flats and longs producer Isdemir, in Isk…

Loss reflects continued impairments related to Mountain Valley Pipeline project delays.

Despite the hotter-than-expected CPI report, the mainstream still seems convinced that the Federal Reserve can get inflation under control and bring the economy to a soft landing. But Peter Schiff argues that the central bank can’t win this fight – at …

The world’s largest mining company BHP Group (BHP) has suffered a heavy decline in profits, following a dip in iron ore prices and heavy pandemic restrictions in China last year – its biggest customers. BHP reported a 32 percent fall in half-year profi…

  Via AG Metal Miner    Several steel mills in central and southern Turkey have suspended operations, declaring force majeure. The decision comes after two earthquakes struck those areas and Syria on February 6. Flats and longs producer Isdemir, in Isk…

As renewable energy operations continue to expand worldwide, governments and energy companies are racing to develop battery storage capacity to ensure that people have access to clean energy at all hours of the day and night. The inconsistency of many …

Falling gas prices over recent weeks have paired with rising coal and carbon costs to make European power generation from gas-fired power plants more economical, marking a trend reversal since coal took over as the cheaper fuel source last year.

Investor Alert: With markets reopening after U.S. President’s day, our oil & gas investment specialist David Messler has identified a major opportunity. U.S. shale giant Devon Energy saw its share price tank last week after an earnings miss. David writ…

On Tuesday, United Airlines launched a $100-million investment vehicle to support start-ups developing and exploring the production of sustainable aviation fuel in an effort to accelerate the research, production, and technologies associated with SAF. …

This article provides a look at my latest research, revealing how it came to be that a 2022 Cambridge Centre For Alternative Finance’s (CCAF) study on Bitcoin’s environmental impact underestimates the amount of sustainable Bitcoin mining going on. I al…

Oil production in Norway, the biggest oil producer in Western Europe, slipped in January compared to December and was 3% below official forecasts, the Norwegian Petroleum Directorate said on Tuesday. Last month, Norway pumped 1.754 million barrels per …

Oil production in Norway, the biggest oil producer in Western Europe, slipped in January compared to December and was 3% below official forecasts, the Norwegian Petroleum Directorate said on Tuesday. Last month, Norway pumped 1.754 million barrels per …

Funding for a new floating LNG terminal off Israel’s coast has been approved by the partners in the Leviathan gas field, the companies said on Tuesday, according to Reuters. The expansion of the Leviathan field, which includes a new LNG terminal, will …

Bakken Shale benchmark natural gas prices have hit their lowest point in more than two years, the result of an oversupplied Midwestern market, according to the state’s Department of Mineral Resources (DMR). The price of natural gas delivered to TC Energy Corp.’s Northern Border pipeline at Watford City, ND, fell to $1.91/Mcf as of Thursday…

The post Bakken Natural Gas Price Hits Lowest Level Since 2020 Amid Regional Supply Glut appeared first on Natural Gas Intelligence

Russia’s yearlong – and ongoing – invasion of Ukraine sparked a reordering of global natural gas supply and demand, igniting record calls for U.S. exports of LNG and amplifying the enduring prominence of fossil fuels in the world’s energy mix. Domestic gas production climbed to record highs in response. The war, whose one-year anniversary is…

The post Russia’s War Upends Global Natural Gas Order, Affirms Abiding Demand for U.S. Supplies appeared first on Natural Gas Intelligence

The number of attacks with gunfire or vandalism on the U.S. power grid infrastructure surged last year and is likely to continue rising this year, too, a confidential analysis seen by The Wall Street Journal has shown. Last year, the number of physical…

Partners in the Leviathan gas field in the eastern Mediterranean have approved nearly $100 million of spending on preparation for expansion that includes a floating liquefied natural gas (LNG) terminal off the coast of Israel, the companies said on Tuesday.

Natural gas futures continued to skid lower in early trading Tuesday, weighed down by bearish technical factors and an ongoing lack of impressive cold in the latest forecasts. After dropping 11.4 cents before the weekend, the March Nymex contract was down another 9.4 cents to $2.181/MMBtu at around 8:45 a.m. ET.  Friday’s 11.4-cent sell-off saw…

The post Technical Outlook Said ‘Strongly Bearish’ as Natural Gas Futures Extend Slide Early appeared first on Natural Gas Intelligence

In his latest speech, Vladimir Putin blamed Ukraine and the West for “provoking” Russia into invading Ukraine. Putin also issued a new warning to the West by suspending Russia’s participation in a major nuclear arms control treaty with the U.S.   In hi…

The country’s exports to Europe reached a new record last year.

LNG has been critical in resolving Europe’s energy crisis during winter 2022/23, but to consolidate its position as a secure and flexible energy source the sector needs to focus on increased supply and emissions reductions with equal vigour. [Gas in Tr…

Saudi Arabia received as much as $326 billion in oil revenues for 2022, its biggest oil sales haul in the era of Crown Prince Mohammed bin Salman, although monthly revenues have been lower in recent months after oil prices slid to around $80 per barrel…

Boston is saddled with Brahmin politicians with zero interest in the plight of the common man in paying the electric bill as they play the phony climate game. Continue reading →

The post Boston Commoners Sold Out on Electricity by Boston Brahmins! appeared first on Natural Gas Now.

U.S. Secretary of State Antony Blinken on Tuesday urged Aegean Sea rivals Greece and Turkey to engage to resolve differences and avoid unilateral actions that could increase tension.

In his latest speech, Vladimir Putin blamed Ukraine and the West for “provoking” Russia into invading Ukraine. Putin also issued a new warning to the West by suspending Russia’s participation in a major nuclear arms control treaty with the U.S.   In hi…

Cyprus has a new president. A new era is starting and that includes energy. Many serious old problems remain and are in need of urgent attention.

Russia renewed its calls on Sweden late on Monday to share its findings from the ongoing investigation into the explosions that damaged the Nord Stream gas pipelines last year. [image credit: Danish Defence Command]

Norwegian authorities have issued a similar warning.

The integration of such activities into QatarEnergy is expected to be completed by the end of 2023. [Image: QatarEneregy]

Australia’s east could face blackout risks from the middle of this decade if renewable energy projects are not ramped up as the country moves rapidly away from its dependency on coal-fired power stations, the energy market operator warned on Tuesday.

Last week, the European Union saw a cap on natural gas prices come into effect in hopes of curbing the risk of a repeat of last year’s eye-watering gas price jump to more than $350 per megawatt-hour. That spike in prices, which occurred in the summer a…

As expected, Devon Energy (NYSE:DVN) was hammered by the market on the release of earnings, which missed analysts’ EPS estimates by $0.09 and modestly exceeded revenue by $6.6 mm. They then committed two unpardonable sins. First, raising the 2023 capex…