Day: March 21, 2023

The Biden Administration has destroyed everything it has touched, spreading the rot of corruption everywhere imaginable, including supposedly independent FERC. Continue reading →

The post Clements Capers Illustrate Biden’s Corruption of Everything appeared first on Natural Gas Now.

By approving a scaled-down project for new drilling in Alaska, even the Biden Administration tacitly admitted that oil and gas would be needed for decades regardless of the pace of the energy transition.  However, the headline message from the U.S. Adm…

Last year, the electric vehicle sector crossed a global milestone, with one out of ten vehicles sold being electric for the first time ever. While that slice of the market might not seem like much in the grand scheme of things, another alarming trend f…

Natural gas futures rebounded Tuesday, avoiding a third consecutive loss amid modestly lighter production and expectations for more late season heating demand. The April Nymex gas futures contract gained 12.5 cents day/day and settled at $2.348/MMBtu. May futures advanced 15.4 cents to $2.485. NGI’s Spot Gas National Avg. went the opposite direction, falling 16.0 cents…

The post Natural Gas Futures Snap Losing Streak as Markets Take Stock of Catalysts; Cash Prices Weaken appeared first on Natural Gas Intelligence

For more than a year now, Russia’s economy has been pummeled by a series of Western sanctions aimed at punishing Moscow for its invasion of Ukraine.So when the International Monetary Fund (IMF) predicted the economy would in fact grow in 2023 — a meag…

Asia continues to prefer buying cheaper Russian oil and hasn’t turned to Brent-linked cargoes from the Atlantic Basin despite the recent 10% slump in Brent oil prices, which has narrowed Brent’s premium over Middle Eastern benchmarks to the lowest in o…

The signing of a memorandum of understanding (MoU) between India’s largest crude oil and natural gas company in India, Oil and Natural Gas Corp (ONGC), and France’s leading energy oil and gas firm, TotalEnergies, as recently tweeted by the French compa…

Exporters of LNG from Australia’s eastern coast could be required to divert spot cargoes for the domestic market this winter as the country’s energy market operator forecasts increased peak demand and greater future supply uncertainty. The Australian Energy Market Operator (AEMO) recently published an updated outlook of the country’s domestic supply risks and the potential…

The post Australia’s Energy Market Operator Warns of Possible Cargo Diversions for LNG Exporters appeared first on Natural Gas Intelligence

Labor strikes blocking Elengy’s Fos Cavaou, Fos Tonkin and Montoir-de-Bretagne LNG import terminals in France that were scheduled to end Tuesday have been extended to March 27 as workers continue to protest the government’s pension reform. Strikes ended last week at Dunkerque LNG, the country’s only other import terminal. 

The post Labor Strikes at French LNG Terminals Extended – The Offtake appeared first on Natural Gas Intelligence

Venezuela’s state-owned oil firm PDVSA is owed a massive $21.2 billion from its oil sales, or around 84% of its total invoiced cargo shipments of the past three years, documents reviewed by Reuters showed this week. After the U.S. sanctions on its expo…

Even before the arrival of summer driving season, gasoline demand climbed on Sunday and Monday compared to the four week average, Gas Buddy’s head of petroleum analysis Patrick DeHaan said on Tuesday. U.S. gasoline demand on Sunday and Monday was up 7%…

Crude oil inventories in the United States rose this week, with a 3.262 million barrel build, the American Petroleum Institute (API) data showed on Tuesday, compared to estimates of a 1.448 million barrel draw. The total number of barrels of crude oil …

Even before the arrival of summer driving season, gasoline demand climbed on Sunday and Monday compared to the four week average, Gas Buddy’s head of petroleum analysis Patrick DeHaan said on Tuesday. U.S. gasoline demand on Sunday and Monday was up 7%…

Canada’s TC Energy Corp. thinks any capacity constraints in Mexico would be solved if the financing for LNG export projects were in place, CEO Francois Poirier told NGI on the sidelines of the CERAWeek by S&P Global Conference in Houston earlier this month. In Mexico, TC is solidifying partnerships with Mexico’s state power utility Comisión…

The post TC Energy Sees Mexico Gas Supply for LNG Projects ‘Eminently Achievable’ appeared first on Natural Gas Intelligence

Just as the construction industry finally began to recover, news of the recent SVB collapse left many in the industry feeling uneasy about the future. The collapse could have significant short-term ramifications, particularly in affordable housing mark…

Nearly 3,000 permits were issued in February to explore for U.S. oil and gas, a slight increase from January but down nearly 9% from a year ago, according to state and federal data. Evercore ISI, which tracks oil and gas permitting data, said 2,929 permits gained approval in February, up by 211 or 8% from…

The post Lower 48 Oil and Natural Gas Permitting Rises, but Not Everywhere appeared first on Natural Gas Intelligence

The United States have burgeoned as a key energy supplier amid Russia’s war in Ukraine, with petroleum product exports doubling from 2010-2022, and the Energy Information Administration (EIA) is expecting this growth to continue.  In the past year of a major global energy reshuffling, average U.S. petroleum product exports grew 7% to 5.97 million b/d…

The post U.S. Petroleum Export Growth to Continue Long Term, EIA Says appeared first on Natural Gas Intelligence

The price of lithium has experienced a significant decline over recent months, resulting from a deceleration in electric vehicle sales and an increasing supply of the key ingredient used in battery packs.  Since November, the average price of battery-g…

Investment banker Goldman Sachs sees a commodities supercycle on the horizon triggered by China and a shift away from capital in the energy markets and energy investments. The exodus from energy markets was brought on by panic in the banking sector, Go…

Investment banker Goldman Sachs sees a commodities supercycle on the horizon triggered by China and a shift away from capital in the energy markets and energy investments. The exodus from energy markets was brought on by panic in the banking sector, Go…

Investment banker Goldman Sachs sees a commodities supercycle on the horizon triggered by China and a shift away from capital in the energy markets and energy investments. The exodus from energy markets was brought on by panic in the banking sector, Go…

The shift towards electrification has been gaining momentum in recent years, with governments around the world setting ambitious targets for reducing emissions from traditional internal combustion engine vehicles. China, being the world’s largest autom…

Increase in global LNG sales helped Europe meet demand, reduce emissions.

Natural gas futures probed higher early Monday, with bulls seizing upon favorable near-term weather, steady export demand and market expectations for a seasonally robust inventory withdrawal. But intensifying stress in the global financial system ultimately curbed the momentum and left futures in the red as markets closed. The April Nymex gas futures contract settled at…

The post April Natural Gas Futures Flop Amid Global Financial System Worries appeared first on Natural Gas Intelligence

Buildings are a major source of energy use in the United States. Constructing new buildings, and then heating, cooling, and otherwise powering them once they’re in use accounts for a hefty chunk of overall electricity consumption. This means that the e…

Texas has added HSBC to its list of companies that boycott the oil and gas industry, which could ban Texas government entities from investing in Europe’s largest bank and its funds and other products. HSBC ended up on Texas’ list after the bank recentl…

Angola’s only liquefied natural gas (LNG) project, Angola LNG, has recently cancelled tenders due to production issues at its plant, trading sources told Reuters on Tuesday.

Russian President Vladimir Putin and Chinese President Xi Jinping have commenced talks in Moscow, amid concerns over Putin’s deepening international isolation due to Russia’s unprovoked invasion of Ukraine.  The talks with Xi give Putin a rare opportun…

The Ksi Lisims LNG export project backed by natives and proposed for Canada’s northern Pacific coast has cleared its second regulatory hurdle by qualifying for a British Columbia (BC) government approval process. The BC Environmental Assessment Office (BCEAO) said last week it would review the plan by the Nisga’a Nation, Rockies LNG LP and Western…

The post Ksi Lisims LNG Project Inches Forward After BC Moves Ahead With Environmental Review appeared first on Natural Gas Intelligence

Oil prices appear to have taken a break from focusing on macro events, with increasing demand and disruptions in supply pushing oil prices higher at the start of the week. The real news for oil markets this week, however, will come from the Fed’s meeti…

China’s CMOC Group is expected to become the world’s biggest producer of cobalt—toppling Glencore from the top spot—after it opens a new mine in the Democratic Republic of Congo later this year, according to company filings and estimates by Bloomberg. …

Qilak LNG is pushing ahead with a plan to invest $5 billion to develop a liquefied natural gas export terminal offshore Alaska that management believes can better compete for Asian demand with PAO Novatek’s Yamal facility in Russia. As offtakers in the Far East are looking to diversify supplies, Qilak plans to differentiate itself from…

The post Qilak LNG Still Sees Quicker Path to Alaska LNG Exports With Smaller, $5B Project appeared first on Natural Gas Intelligence

U.S. LNG exports rose by 8.6% year/year to average 10.6 Bcf/d in 2022, with demand growth driven by European markets seeking a substitute for Russian supply, according to FERC. Coincidentally, the figure for net exports of natural gas overall – including liquefied natural gas and pipeline exports – also was 10.6 Bcf/d, up slightly from…

The post U.S. Natural Gas Demand Outpaced Supply in 2022, Says FERC appeared first on Natural Gas Intelligence

Russia will continue its 500,000 barrel per day crude oil production cut through the end of June this year, Russia’s Deputy Prime Minister Alexander Novak said on Tuesday.  Russia first announced the 500,000 bpd production cut in February after Novak w…

With supportive March cold now largely in the rearview mirror, natural gas futures continued to come under pressure in early trading Tuesday. Coming off an 11.5-cent sell-off in the previous session, the April Nymex contract was down 3.7 cents to $2.186/MMBtu at around 8:50 a.m. ET. The April contract could have further to fall before…

The post April Natural Gas Under Pressure Early as Technicals Seen Pointing to Further Declines appeared first on Natural Gas Intelligence

The oil market will tighten in the second half of this year, with jet fuel demand driving a rebound in consumption, especially in China, Amrita Sen, Director of Research at Energy Aspects, said at the FT Commodities Global Summit on Tuesday.   Demand i…

Germany’s energy regulator has ruled out a gas supply emergency for the current winter but cannot give the all clear for the 2023/24 season, its president told a German newspaper.

Oil prices will surge to $140 per barrel by the end of this year, hedge fund manager Pierre Andurand said on Tuesday, adding that the recent slump was speculative on the back of the banking sector troubles. Oil demand, even when it peaks around the end…

No final investment decision has been taken on onshore regasification plants in Germany. The use of FSRUs – a necessary emergency option – means import capacity can be released. Nonetheless structural factors suggest LNG has a 20-25 year window of oppo…

The focus now moves to preparations for the next winter season.

The extent to which Bill Gates and other elitist grifters are driving energy and environmental policies is simply astounding. Plutocracy is here big-time. Continue reading →

The post Gates and Other Grifters Gouge Ratepayers and Taxpayers appeared first on Natural Gas Now.

The ASH-8 well in Abu Sennan licence has now been tied into the existing facilities and brought on stream.

U.S. crude oil exports to Europe hit a record high in March, due to a wide WTI to Brent discount in January which prompted many spot deals for the cheaper U.S. crude, analysts and tanker-tracking firms told Reuters this week.   The U.S. has shipped so …

Chinese President Xi Jinping arrived in Russia on Monday in his first overseas trip since securing a third term as president.

The UK risks a shortage in stable electricity generation in the late 2020s as more coal-fired and older gas and nuclear power plants close, research commissioned by energy firm Drax Group showed on Tuesday.   Peak demand for Britain’s electricity is ex…

The group are seeking a permit to drill one well and one contingent well, and potentially up to five wells in total.

Iran counts on “huge volumes” of oil and gas swaps from Russia this year, Iranian Economy Minister Ehsan Khandouzi said in an interview with Russia’s RIA state news agency in remarks published on Tuesday.

Europe has experienced a mild winter, but the region also managed to cut its temperature-adjusted gas consumption in response to high prices, public information campaigns and industrial closures.

Australian natural gas producers are cautiously optimistic a raft of proposed rules for the sector will not stunt investment as the government prepares to unveil the final details of several major interventions into the domestic gas market.

Moldova has resumed gas purchases from Russia’s Gazprom in March after a break of about three months, the head of public natural gas distributor Moldovagaz said on Monday.

Sempra closed its joint venture with ConocoPhillips, as well as announced an agreement to sell an indirect, non-controlling interest in the project to KKR.

Although White House national security spokesperson, John Kirby, did observe tersely that the deal done on 10 March between Iran and Saudi Arabia to re-establish relations “is not about China”, it absolutely was about China. What it absolutely was not …