Day: July 24, 2023

China is investing record amounts of money into renewable energy sources, but it continues to rely heavily on coal to cope with rising power demand.  During the first half of this year, coal production, coal imports, and coal-fired electricity generati…

Following the series of crude oil production cuts by OPEC+ since last October, its Joint Ministerial Monitoring Committee (JMMC) is due to meet on 3 August to assess the state of the global oil market, according to several industry sources spoken to ex…

Natural gas futures struggled to find direction Monday, teetering between modest gains and losses as traders weighed robust near-term cooling demand against strong production and stout supplies in storage. At A Glance: Weather outlook loses some heat Production rebounds to 101 Bcf/d NGI sees smaller storage injection The August Nymex gas futures contract ultimately settled…

The post Natural Gas Futures See-Saw as Market Balances Heat Against Robust Supply; Cash Prices Climb appeared first on Natural Gas Intelligence

In the lead-up to his toughest election battle in two decades, Turkish President Recep Tayyip Erdogan did not hesitate to bash Western allies and principles, seeking to bolster support from conservative and nationalist voters and distract them from his…

The most salient fact about natural resources such as minerals and fertile soil is that they are unevenly distributed around the world. That means some countries have far more than they need and others are desperately dependent on imports. Some writers…

European natural gas prices ticked up again on Monday despite healthy storage on the continent and an apparent lull in Asia, hinting at anxiety over falling LNG imports. Upward movement in European prices was previously expected to be limited for the rest of July after several key gas facilities in Norway wrapped up heavy maintenance…

The post TTF Spikes Despite High Storage as Market Weighs Tightening LNG Supply appeared first on Natural Gas Intelligence

Kinder Morgan Inc. (KMI) is forecasting U.S. natural gas demand to grow by about 20 Bcf/d or 20% between 2023 and 2028 to roughly 121 Bcf/d, Executive Chairman Rich Kinder said Wednesday (July 19). “We expect 13.5 Bcf/d of that growth to come from LNG and Mexico exports, with moderate growth in the power, residential…

The post Kinder Morgan Sees LNG, Mexico Exports Driving U.S. Natural Gas Demand Up 20% by 2028 appeared first on Natural Gas Intelligence

This may not be the reality anyone wants to hear but despite important steps forward, the nation’s minerals problem – notably the mismatch between soaring demand, available supply, and our alarming overreliance on imports – is only getting worse. And w…

A proposed rule by the Department of Interior’s Bureau of Land Management (BLM) to increase bonding requirements, royalty rates and minimum bids for natural gas and oil producers was met with criticism from the industry.  The draft rule would increase economic returns for the country while ensuring oil and natural gas companies are environmentally responsible…

The post Raising Federal Oil, Gas Leasing Fees to ‘Hamper’ E&P Activity, Says Industry appeared first on Natural Gas Intelligence

A recent poll commissioned by the American Petroleum Institute (API) of U.S. registered voters has found that a majority agree that domestic natural gas and oil production could lower energy prices and ensure national security.  The poll conducted from June 23-25 of 2,003 registered voters by Morning Consult for API found that at least 88%…

The post Most Americans Support U.S. Oil, Natural Gas Production, Poll Finds appeared first on Natural Gas Intelligence

Via Metal Miner After nickel prices saw a sharp slowdown in May, prices started to form sideways trends in relief to the downtrend. Like other base metals, nickel prices rallied during the first weeks of June until bullish momentum exhausted itself and…

Azerbaijan’s government is sounding more and more positive about the U.S.- and EU-brokered negotiations with Armenia and increasingly negative about Russia’s mediation efforts.  Those talks are taking place on a separate track, not coordinated with the…

Counter-protesters in London disrupted Just Stop Oil’s “Beyond F***** Banquet” on Sunday night by setting off rape alarms hidden inside balloons as climate activists were gathered in a church to “step back, grieve for what will die and disappear but al…

Chevron Corp.’s legacy Permian Basin operations recorded an 11% jump in oil and gas output in the second quarter from a year ago, a new quarterly record, the supermajor said. In a preview of second quarter results, which are scheduled to be issued Friday (July 28), the San Ramon, CA-based producer said Permian output rose…

The post Chevron Says ‘On Track’ to Hit Permian Guidance Following Record 2Q Grow appeared first on Natural Gas Intelligence

Extending the life of the Diablo Canyon nuclear power plant could cost Californians $45 billion, a climate activist group has warned. According to the Environmental Working Group, the number represents the costs of running the facility between this yea…

TC Energy has agreed to sell 40% of the Columbia Gas and Columbia Gulf pipelines in the U.S. for US$3.9 billion (C$5.2 billion) in cash, the Canada-based pipeline giant said on Monday. Columbia Gas and Columbia Gulf will be held in a new joint venture …

TC Energy has agreed to sell 40% of the Columbia Gas and Columbia Gulf pipelines in the U.S. for US$3.9 billion (C$5.2 billion) in cash, the Canada-based pipeline giant said on Monday. Columbia Gas and Columbia Gulf will be held in a new joint venture …

Warren Buffett and his investment conglomerate Berkshire Hathaway have been increasing stakes in oil and gas industry operators this year as cheap valuations and attractive returns make fossil fuels good investments amid the ongoing ESG considerations …

UK Energy Minister Grant Shapps says the British government intends to extract one-hundred percent of its North Sea oil and gas reserves and still achieve net-zero carbon emissions by 2050, while the Labour Party has vowed to refrain from issuing any f…

MOSCOW, July 20 (Reuters) – Russian President Vladimir Putin approved Arctic LNG 2’s first line departure via the Northern Sea Route from the Murmansk region to its future production site on the Gydan peninsula, the Kremlin said on Thursday.

Moscow has revised its gas strategy repeatedly since western sanctions were placed on Russia last year after it invaded Ukraine, and it is counting on Asia as an export destination to replace the loss of Europe’s 150 billion cubic meter (Bcm) market. The Russian government revised pipeline export targets last month to increase deliveries to…

The post Russia Still Counting on Asian Demand as Natural Gas Output, Exports Continue Falling appeared first on Natural Gas Intelligence

The German economy is losing its DNA as a place to do business, and foreign investors are staying away and focusing their attention on emerging markets as a result, a leading CEO has claimed. Toralf Haag, the president and chief executive of global tec…

Brazil’s energy major Eletrobras has plans to invest close to $17 billion over the next five years and is eager to grow through mergers and acquisitions. That’s according to a security filing, cited by Reuters, in which the Brazilian company also said …

Local authorities in the Greater Manchester area in the UK have issued planning permission to UK energy infrastructure development company Carlton Power to build what would be the world’s largest battery energy storage scheme, which will cost $963 mill…

Local authorities in the Greater Manchester area in the UK have issued planning permission to UK energy infrastructure development company Carlton Power to build what would be the world’s largest battery energy storage scheme, which will cost $963 mill…

TotalEnergies is buying out all remaining shares in renewable energy developer Total Eren for $1.66 billion, thus raising its stake in the firm to 100% from 30%, the French supermajor said on Tuesday. The acquisition of the 70.8% stake in Total Eren th…

Local authorities in the Greater Manchester area in the UK have issued planning permission to UK energy infrastructure development company Carlton Power to build what would be the world’s largest battery energy storage scheme, which will cost $963 mill…

GIP will also contribute $1.3 billion a year for three years to capital expenditures

To advance North American natural gas pipeline expansions, TC Energy Corp. on Monday agreed to monetize a 40% stake in the Columbia systems via a joint venture (JV) with Global Infrastructure Partners (GIP).  The Calgary midstream giant is selling off stakes to GIP in Columbia Gas Transmission LLC and Columbia Gulf Transmission LLC. TC would…

The post Columbia JV to Propel Big North American Natural Gas Expansions, Says TC CEO appeared first on Natural Gas Intelligence

U.S. natural gas prices slumped by 34% in the first half of this year, dragged down by record production, high inventories, and relatively mild winter temperatures. The average monthly spot natural gas price at the U.S. benchmark Henry Hub dipped by 34…

U.S. energy firms this week reduced the number of oil and natural gas rigs operating for a second week in a row, including the deepest oil rig cut since early June, energy services firm Baker Hughes said in its closely followed report on Friday.

As traders continued to assess the demand impacts of scorching heat, albeit with more temperate conditions expected over the eastern Lower 48 by early August, natural gas futures probed modestly higher early Monday. The August Nymex contract was up 1.2 cents to $2.725/MMBtu at around 8:35 a.m. ET. September was up 1.4 cents to $2.721.…

The post Traders Mull ‘Blistering Heat’ as Natural Gas Futures Nudge Higher Early appeared first on Natural Gas Intelligence

Octopus Energy plans to lead investments worth $20 billion (£15 billion) into offshore wind power projects globally by 2030, the generation arm of the UK energy firm said on Monday. Octopus Energy said its plans “to unleash” $20 billion in investments …

Octopus Energy plans to lead investments worth $20 billion (£15 billion) into offshore wind power projects globally by 2030, the generation arm of the UK energy firm said on Monday. Octopus Energy said its plans “to unleash” $20 billion in investments …

TC Energy said on Monday it has entered into an agreement to sell a 40% interest in its Columbia Gas Transmission and Columbia Gulf Transmission pipelines for C$5.2 billion ($3.95 billion).

NNPC will supply the necessary gas feedstock for the project.

The politicos supporting the Mountain Valley Pipeline are talking a good game but only impeachment of tyrant judges will do if they want to end the nonsense. Continue reading →

The post Mountain Valley Pipeline Politicos Talk A Good Game, But… appeared first on Natural Gas Now.

Coal use hit an all-time high in 2022 and investment levels will rise this year. Oil investment is shaky, but not in the Middle East, suggesting a market increasingly subject to cartel control. LNG is well positioned to wrest market share from both coa…

The Kurdistan Regional Government has been handing over 50,000-60,000 barrels per day (bpd) of oil to Baghdad since the middle of June as part of the budget deal under which the federal government of Iraq will be responsible for exporting Kurdistan’s c…

While European majors embraced climate change proactively and adopted strategies investing heavily in renewables and low-carbon projects, their US counterparts remained focused on the resilience of global oil and gas demand. Evidently this strategy is …

After adding 1.5% last week, Brent crude started this week with a dip and so did WTI, which last week gained 2%. The dip comes ahead of central bank updates due in the United States and Europe, as traders calculate the chances for more rate hikes down …

Kamal Kishore Chatiwal, managing director of gas utility Indraprastha Gas, was speaking at NGV India Summit 2023 which was held in New Delhi on July 20 and 21.

U.S. energy firms this week reduced the number of oil and natural gas rigs operating for a second week in a row, including the deepest oil rig cut since early June, energy services firm Baker Hughes said in its closely followed report on Friday.

The plants are being developed by Chiba-Sodegaura Power, a unit of Tokyo Gas. [Image: Tokyo Gas]

These discoveries were a result of a domestic exploration drilling campaign that began in late 2022.

U.S. oil major Chevron Corp announced sweeping management changes on Sunday, including the retirement next year of its finance chief and extension of the mandatory retirement age for Chief Executive Officer Michael Wirth.