Day: August 31, 2023

One of the biggest U.S. oil producers, Occidental, has just won one of two grants by the Biden Administration to build the world’s first direct air capture plant in Texas that would extract carbon dioxide directly from the atmosphere.       Occidental,…

China has issued a larger-than-expected fuel export quota in the third batch of allocations this year as authorities look to incentivize refiners to sustain economic growth and sell more product abroad at a time when China’s 2023 fuel demand may have p…

India is on track to install a record-high capacity of solar rooftops in the 2024 fiscal year as solar module prices are falling and enterprises are looking to source greener energy, a new report showed on Friday. Rooftop solar is booming in India and …

Despite big promises, recent reports suggest that international oil majors are doing little to contribute to the green transition when compared to their ongoing investments in oil and gas operations. Studies show that much of Big Oil’s investment in re…

Natural gas futures forged ahead most of Thursday, building further momentum after a government inventory report pointed to narrowing storage surpluses and forecasts showed another heatwave on the way in September. Still, the prompt month slipped into the red in afternoon trading amid profit-taking. Coming off the prior session’s 13.4-cent bounce, the October Nymex gas…

The post Natural Gas Futures Fail to Extend Rally Following Seasonally Light Storage Print; Spot Prices Slip appeared first on Natural Gas Intelligence

With September lining up to deliver plenty of late-season heat, and with storage trends pointing to a shrinking Lower 48 inventory cushion, regional natural gas forwards advanced during the Aug. 24-30 trading period, NGI’s Forward Look data show. Fixed prices at benchmark Henry Hub climbed 20.4 cents week/week to end at $2.793/MMBtu for October delivery,…

The post September Heat Bolsters Natural Gas Forwards; Storage Data Seen Confirming Tightness appeared first on Natural Gas Intelligence

Despite financial markets being roiled by leftist Luiz Inácio Lula da Silva’s, known as Lula, October 2022 electoral victory, there are signs that Brazil’s president will continue to support the country’s burgeoning oil boom. Even after Lula railed aga…

Natural gas reserves and production grew in British Columbia last year as drilling improved in the northern Montney Shale, according to the BC Energy Regulator (BCER). Booked reserves gained 18% to 83.17 Tcf in 2022, even as the BC well count dropped by 20% to 374, from 467 in 2021. Production rose by 12% to…

The post Drilling Efficiencies Drive Double-Digit Growth for BC Natural Gas Production, Says Regulator appeared first on Natural Gas Intelligence

AltaGas Ltd. agreed Thursday to buy some natural gas storage assets and midstream properties in Alberta’s Montney Shale from Tidewater Midstream and Infrastructure Ltd. in a cash-and-stock deal valued at $447 million. The package includes the northern Pipestone natural gas processing, storage and pipeline network, as well as the Dimsdale gas storage facility. “We are…

The post AltaGas Muscles Up in Natural Gas-Rich Montney with Tidewater Midstream Tie-Up appeared first on Natural Gas Intelligence

The BRICS bloc, a group of developing countries seen as seeking to counter the United States and the West, agreed at a summit last week to admit six new countries — Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. The new …

North American natural gas futures showed some upward momentum this week as September heat promised continued support, but the prompt month still fell short of the $3.00/MMBtu mark. The October New York Mercantile Exchange natural gas futures contract debuted strongly on Wednesday and rose 13.4 cents day/day to $2.796/MMBtu. The gains could have been higher…

The post Mexico Bidding for Better Natural Gas Pricing as Futures Remain Constrained – Spotlight appeared first on Natural Gas Intelligence

First LNG production from the Tangguh Train 3 project is targeted to start next month after several years of delays, according to Indonesia’s energy regulator SKK MIgas. SKK Migas spokesperson Hudi Suryodipuro told news media last week that first LNG from the train is expected in the second week of September. . The BP plc-led…

The post First LNG from Indonesia’s Tangguh Train 3 Expansion Targeted for Mid-September appeared first on Natural Gas Intelligence

Ecole Polytechnique Fédérale de Lausanne researchers have found a way to significantly improve the operational stability of perovskite solar cells at high temperatures, which is necessary for their use in terawatt power grids. Perovskite solar cells (P…

The union representing workers at two Chevron LNG projects in Australia have rejected a company offer for new pay and conditions, and are now preparing to start industrial action next week unless an improved offer is made. “Ballot results show that the…

Canada’s oil and gas companies have managed to boost production from conventional resources while reducing carbon dioxide and methane emissions over the decade to 2021, the industry association CAPP has reported. Between 2012 and 2021, CAPP said, Canad…

Chinese LNG importers are expanding and opening new trading offices in London, New York, and Singapore to manage their increasingly diverse liquefied natural gas portfolios.  Competing with other top portfolio traders for the super-chilled fuel, China plans to manage their LNG supply on an international basis in an increasingly volatile global gas market. Natural gas…

The post China Moving More Aggressively to Trade Surplus LNG on Global Market appeared first on Natural Gas Intelligence

European vehicle sales are going to be on watch heading into the back half of the week after automobile sales in Europe rose for the 12th consecutive month in July, Bloomberg reported this morning. Germany, France and Spain all saw double digit growth …

A group of 37 economists and analysts have raised their 2023 oil price forecasts for the first time in four months saying OPEC+ output cuts will be enough to offset weak economic growth in China.  The commodity experts have predicted Brent crude will a…

But private sector will need more than tax credits to advance CCS, International CCS Knowledge Centre says. [Image: Quest CCS]

Georgians were uplifted by an ambitious enlargement speech by an EU leader a week after another enlargement-related meeting left the country worried about its future in the bloc.  On August 28, European Council President Charles Michel delivered a bold…

The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 32 Bcf natural gas into storage for the week ended Aug. 25. The result exceeded market expectations but proved lean relative to prior years, leaving Nymex natural gas futures trading in a narrow range. At A Glance: BREAKING: EIA reports 32 Bcf injection…

The post Tightening Balances Send Natural Gas Futures Prices Higher After Idalia Slams Florida appeared first on Natural Gas Intelligence

Russia will disclose the details of the deal with OPEC+ next week, Russian Deputy Prime Minister Alexander Novak told President Vladimir Putin on Thursday, according to Reuters. Novak did not specify exactly which details would be disclosed. Putin aske…

Oil prices globally have been firmly above $80 per barrel, however, the market at large has kept surprisingly mum about the key factor in the price rally of July-August, namely Saudi Arabia’s voluntary production cuts. Happening at a time of strong dem…

Germany’s natural gas imports declined by 17.9% between January and August compared to the same period last year, BDEW, the German utility industry association, said on Thursday. Total gas demand in Germany has dropped so far this year amid calls for e…

Gazprom has filled 88% of the targeted winter volumes of natural gas in Russia’s underground storage facilities, the Russian gas giant’s CEO Alexey Miller said on Thursday. “We are pumping gas into Russian underground storage facilities right on schedu…

Gazprom has filled 88% of the targeted winter volumes of natural gas in Russia’s underground storage facilities, the Russian gas giant’s CEO Alexey Miller said on Thursday. “We are pumping gas into Russian underground storage facilities right on schedu…

Gazprom has filled 88% of the targeted winter volumes of natural gas in Russia’s underground storage facilities, the Russian gas giant’s CEO Alexey Miller said on Thursday. “We are pumping gas into Russian underground storage facilities right on schedu…

The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 32 Bcf natural gas into storage for the week ended Aug. 25. The result exceeded market expectations but proved lean relative to prior years, leaving Nymex natural gas futures trading in a narrow range. Ahead of the 10:30 a.m. ET government report, the…

The post October Natural Gas Futures Muster Modest Momentum After 32 Bcf Storage Print appeared first on Natural Gas Intelligence

Methane emissions by Canadian oil and gas producers fell by 34% between 2012 and 2021.

Diesel prices have been supercharged this summer, but as Bloomberg’s Jack Wittels warns, the moves seem out of kilter with the relatively mundane fundamental drivers, creating the risk of a correction. Then again, it could just be a repeat of last year…

Acquisition strengthens AltaGas midstream assets and provides access to west coast LNG opportunities. [Image: Tidewater Midstream]

Shares in commodity giant Glencore dropped over four per cent in early trading this morning after it was revealed some of the world’s biggest investment groups and companies are claimants in the trading house’s ongoing legal battle in London. Glencore …

We are living in a pathocracy when it comes to climate politics, all of which is about enriching already rich corporatists who would destroy everything. Continue reading →

The post Pathocracy Has Arrived with Climate Politics appeared first on Natural Gas Now.

Since the discovery of 11 billion barrels of proven oil reserves offshore in 2015, Guyana’s oil industry has gone from strength to strength. The tiny Caribbean country has attracted billions in international investment in its energy sector, with billio…

A Canadian startup is targeting 2025 to begin a low-carbon hydrogen blending pilot with local natural gas utility Gas New Brunswick. Fredericton, New Brunswick-based Nu:ionic Technologies Inc. said it plans to deploy its proprietary teal hydrogen technology, which combines elements of the more widely known “blue” and “green” production methods. The teal method utilizes microwave…

The post Canada Utility Aiming to Blend “Teal” Hydrogen into New Brunswick Natural Gas Network by 2025 appeared first on Natural Gas Intelligence

A recent report indicated that natural gas production from the Appalachian Basin peaked in 2022, but U.S. Energy Information Administration (EIA) data show that marketed output increased through the beginning of 2023.  In the report, Frackalachia Update: Peak Natural Gas and the Economic Implication for Appalachia, Ohio River Valley Institute (ORVI) researcher Sean O’Leary noted…

The post Appalachian Natural Gas Production Ramped Up in Early 2023 appeared first on Natural Gas Intelligence

Shares in commodity giant Glencore dropped over four per cent in early trading this morning after it was revealed some of the world’s biggest investment groups and companies are claimants in the trading house’s ongoing legal battle in London. Glencore …

The average retail price of regular gasoline in the United States has risen by 6% over the past five weeks heading into the Labor Day weekend, the U.S. Energy Information Administration (EIA) said on Thursday. On the Monday before the Labor Day weekend…

India’s crude oil imports from sanctioned Russia fell in August to a seven-month low, according to Kpler and Refinitiv data. India’s refiners reduced their crude oil intake from Russia partially due to routine refinery maintenance—but also due to decre…

The average retail price of regular gasoline in the United States has risen by 6% over the past five weeks heading into the Labor Day weekend, the U.S. Energy Information Administration (EIA) said on Thursday. On the Monday before the Labor Day weekend…

Natural gas futures held onto their recent gains in early trading Thursday as the market turned its attention to a potentially pivotal government inventory report, one that figured to garner plenty of interest following a bullish surprise in the week-earlier period.  Coming off a 13.4-cent rally in the previous session, the October Nymex contract was…

The post October Natural Gas Preserves Gains as Market Turns to EIA Print to Confirm Tighter Balances appeared first on Natural Gas Intelligence

Iran’s oil production and exports likely soared in August to the highest since the U.S. sanctions were imposed in 2018, ship-tracking data and analysts have told Reuters. Iran has been raising its crude and condensate production for months and has incr…

Malaysia ranked as the world’s fifth-largest LNG exporter last year but maintaining this position will require it to tap vast but costly and technically challenging sour gas fields in the South China Sea. [Gas in Transition, Volume 3, Issue 7]

Prices of liquefied natural gas (LNG) could spike this winter even with high storage levels in Europe, a Tokyo Gas executive said, as many political and market uncertainties remain.

Argentina’s southern Neuquen province, home to the huge Vaca Muerta shale formation, has posted a record daily amount of gas being injected into the country’s pipeline system, topping 100 million cubic meters per day, the government said on Wednesday.

This move is expected to be finalised by the end of the year.

Rapidly forming El Niño conditions over the central and eastern Pacific Ocean have increased the probability of a strong episode this winter that would likely raise temperatures and cut gas consumption in the United States.

Tanzania President Samia Suluhu Hassan named a new energy minister on Wednesday as part of a cabinet reshuffle, ahead of expected cabinet approval for a $42 billion liquefied natural gas (LNG) project.

The contract has been awarded by Indian state-owned Oil and Natural Gas Corporation.

Earlier in the year, Wall Street was mostly bearish about the U.S. economic outlook with many warning of a looming recession. Not surprisingly, many oil punters expected oil demand to crash as unemployment rose and companies cut output thanks to aggreg…