Day: September 18, 2023

A week ago, Danish transport giant Moeller-Maersk issued its first green bond. The debt, worth $750 million, will be used to “help finance or refinance green assets.” With that bond, Maersk joined a growing army of businesses issuing debt to finance va…

South American microstate Guyana recently emerged as what is being described as the world’s hottest offshore frontier oil play. A consortium led by ExxonMobil controls Guyana’s prolific offshore 6.6-million-acre Stabroek Block, where more than 30 world…

Natural gas futures floundered at first on Monday, hindered by autumn-like weather. As the session wore on, though, traders shifted attention to production that remains below recent highs as well as predictions for another lean storage increase. At A Glance: Production off recent highs Heat endures in the South NGI models 63 Bcf injection Coming…

The post Natural Gas Futures, Cash Prices End Downward Slide as Market Sees Another Light Storage Build appeared first on Natural Gas Intelligence

Mexico’s upstream oil and natural gas regulator Comisión Nacional de Hidrocarburos (CNH) and natural gas pipeline operator Centro Nacional de Control del Gas Natural (Cenagas) have agreed to strengthen ties, namely through increased sharing of information and data. Cenagas operates the Sistrangas natural gas pipeline network, which spans some 6,200 miles throughout 20 states in…

The post Mexico’s CNH, Cenagas Aiming for Closer Collaboration to Develop Natural Gas Market appeared first on Natural Gas Intelligence

The is the final article in a series on the recently released 2023 Statistical Review of World Energy. Previous topics covered were: Global carbon dioxide emissions Overall highlights  Oil production and consumption  Natural gas production and consumpt…

The deal announced on 11 September that saw five Americans released from prison in Iran has brought the quiet ongoing discussions over a new, watered-down version of the Joint Comprehensive Plan of Action (JCPOA) – colloquially known as the ‘nuclear de…

European natural gas prices declined Monday despite a further escalation in Australian labor strikes at Chevron Corp.’s LNG export terminals over the weekend. The October Title Transfer Facility (TTF) contract declined 6% Monday to finish below $11/MMBtu. Prices were pushed lower by an uptick in Norwegian natural gas production and mild weather, along with strong…

The post Stronger Norwegian Output, Return of Freeport LNG Help Push TTF Lower – LNG Recap appeared first on Natural Gas Intelligence

Turkmenistan’s huge gas reserves have been generating considerable interest from potential importers following Ashgabat’s announcement in late July that it is open to the development of a pipeline to carry its gas across the Caspian and on to Europe. M…

Oil prices rose for yet another day early on Tuesday, with Brent hitting $95 per barrel, as Azerbaijan said it had launched “anti-terrorist” operations in the Nagorno-Karabakh region with mostly Armenian population. The Azerbaijan-Armenia tensions have…

The expansion of Canada’s Trans Mountain oil pipeline is expected to raise the prices U.S. refiners in the Midwest pay for Canadian oil by up to $2 per barrel, analysts tell Reuters. The Trans Mountain Expansion project, expected to triple the volume o…

Both BMW and Mercedes announced innovative new concept electric vehicles (EVs) this month that they say can compete with the range and capabilities of new Tesla models. The automakers hope to combine their extensive manufacturing experience with new EV…

Entry into the global LNG trade has been granted to TC Energy Corp.’s supply collection grid, Nova Gas Transmission Ltd. (NGTL), by a favorable decision on pipeline access to export terminals on the Pacific coast of British Columbia (BC). The Canada Energy Regulator (CER) approved an NGTL bargain toll for overseas sales of BC and…

The post Canada’s NGTL Secures LNG Export Toll Approval as Liquefaction Projects Advance appeared first on Natural Gas Intelligence

Mexico’s state-held oil giant Pemex has resumed trade with Vitol Group three years after the world’s largest oil trading firm admitted to bribing officials and two years after Mexico banned the trader from business dealings with Pemex, anonymous source…

Sept 18 (Reuters) – U.S. natural gas futures edged up around 1% on Monday as the amount of gas flowing to the country’s
liquefied natural gas (LNG) export plants increases after Freeport LNG’s facility in Texas returned to near full service over the
past few days.

Retail gasoline prices in the United States are continuing to rise, and are up 4.6 cents from a week ago, according to GasBuddy data. The national average is still down 1 cent from a month ago, but nearly 20 cents higher from this point last year. The …

Washington is taking steps to expand the U.S.-flagged commercial tanker fleet, which transports oil for the U.S. military and could start placing Navy and Marine personnel on tankers traversing the Strait of Hormuz, Reuters reports.  For 2023, Washingt…

More natural gas and oil output is coming ashore from the deepwater Gulf of Mexico (GOM) as Woodside Energy Group Ltd.’s Shenzi North project ramps up in Green Canyon ahead of schedule.  A final investment decision (FID) for Shenzi North, an extension of the Shenzi field, was taken in July 2021, and first output initially…

The post Early Start-Up of Woodside’s Shenzi North Bringing More GOM Natural Gas and Oil Ashore appeared first on Natural Gas Intelligence

After the most recent U.K. offshore wind auction failed to attract a single bid, the outlook for British wind energy looks increasingly bleak. In recent months, the U.K.’s conservative government has made its backing for oil and gas projects in the Nor…

The oil-price rally continued in full force on Monday, with Brent crude closing in on $95 per barrel in early afternoon trading, and some crude grades around the world topping $100.  At 12:23 p.m. ET on Monday, Brent crude was trading at $94.53, while …

Five Americans imprisoned in Iran were officially flown out of Tehran on Monday as the U.S. unfroze some $6 billion in Iranian oil funds held for five years in South Korea. The prisoner swap deal also included the release of five Iranian prisoners bein…

Chevron’s Wheatstone LNG export facility in Australia has returned to full production after a fault at the plant cut output by around 25% last week, the U.S. supermajor said on Monday as strikes at its two Australian facilities escalate amid labor disa…

Chevron’s Wheatstone LNG export facility in Australia has returned to full production after a fault at the plant cut output by around 25% last week, the U.S. supermajor said on Monday as strikes at its two Australian facilities escalate amid labor disa…

Chevron’s Wheatstone LNG export facility in Australia has returned to full production after a fault at the plant cut output by around 25% last week, the U.S. supermajor said on Monday as strikes at its two Australian facilities escalate amid labor disa…

The project costs for Equinor’s Johan Castberg oil project in the Arctic waters of the Barents Sea have increased by nearly 13 billion Norwegian crowns, or by $1.2 billion, since last year, the Norwegian energy major said on Tuesday. The project was ap…

Elon Musk in May said that Tesla would pick a new gigafactory location by the end of the year. Lately, the billionaire has spoken with a handful of world leaders as they present enticing offers to persuade the world’s wealthiest man to build a new fact…

Renewable energy sources are expected to generate more than 50% of Germany’s electricity this year, Economy Minister Robert Habeck said at a conference in Berlin on Monday. However, the minister from the Green party who is also responsible for climate …

Climate alarmists have waged war on energy-intensive cryptocurrency mining operations but have yet to denounce large language models (LLMs) like Microsoft-backed OpenAI’s ChatGPT that use 16 ounces of fresh water every time a user asks it a series of q…

Venture Global LNG’s chief executive insisted recently that the company’s development of U.S. liquefied natural gas plants has not been slowed by international court battles over its failure to deliver cargoes to contract holders, including BP and Shell.

We’re changing our name; NaturalGasNOW is transitioning to Energy Security and Freedom. We’re also changing our location to energysecurityfreedom.substack.com. Continue reading →

The post Energy Security and Freedom appeared first on Natural Gas Now.

Click here to listen to the latest episode of NGI’s Hub & Flow, in which NGI Senior Markets Editor Kevin Dobbs interviews Marex North America LLC’s Steve Blair, senior account executive. Blair addresses possible production cuts, supplies in storage, weather demand, Australian LNG strikes, war in Russia and more – setting the stage for winter…

The post What’s Natural Gas Futures Broker Steve Blair’s View on Price Drivers? Listen Now to NGI’s Hub & Flow appeared first on Natural Gas Intelligence

North Dakota achieved record natural gas production of 3.29 Bcf/d in July, up 1.3% from June, according to the state’s Department of Mineral Resources (DMR). Producers managed to capture and put to market 96% or 3.15 Bcf/d of the output, also an all-time high, highlighted DMR’s Lynn Helms, Oil and Gas Division director. He hosted…

The post North Dakota Hits Record Natural Gas Production Amid Infrastructure Issues, Low Prices appeared first on Natural Gas Intelligence

With comfortable shoulder season conditions lining up for the coming weeks, natural gas futures retreated further in early trading Monday. Following a 6.4-cent sell-off in Friday’s session, the October Nymex contract was off another 1.2 cents to $2.632/MMBtu as of around 8:40 a.m. ET. Weather models, already advertising a bearish outlook as of late last…

The post Forecasts Flash Mild Temps into Early October as Natural Gas Futures Extend Slide appeared first on Natural Gas Intelligence

Samantha McCulloch, CEO of Australian Energy Producers said that the change represents a new phase in the organisation’s history, which was established as the APPEA in 1959.

Pennsylvanians have been spared again from the RGGI tax that Democrats want to impose on them for the sake of worthless but dangerous green virtue signaling. Continue reading →

The post RGGI Tax on Pennsylvanians Spiked Again in Huge Victory appeared first on Natural Gas Now.

The initial supply of gas from BAGSF-2 via a newly built pipeline provides the fuel for the commissioning of Sarawak Petchem’s methanol plant. [Image: Petronas]

China Oil & Gas Pipeline Network Corporation, or PipeChina, said on Friday it has started building a second trunk line connecting gas fields in southwest China with the east coast capable of carrying 20 billion cubic meters (bcm) of natural gas a year.

Lee made landfall as a post-tropical cyclone packing hurricane-force winds in a far western part of Canada’s Nova Scotia province on Saturday, flooding roads, downing trees and cutting out power for tens of thousands of people along the North Atlantic coast.

The well has been drilled to a total measured depth of 4,300 m.

Oil prices rose in early Asian trade on Monday, extending last week’s gains amid expectations of an increasingly tighter market and hopes that China’s latest stimulus measures would revitalize the economy.   WTI Crude prices were trading above $91 per …

U.S. energy firms this week added the most oil and natural gas rigs in a week since November, with the count rising for a second week in a row, energy services firm Baker Hughes said in its closely followed report on Friday.

U.S. energy firms this week added the most oil and natural gas rigs in a week since November, with the count rising for a second week in a row, energy services firm Baker Hughes said in its closely followed report on Friday.

Chinese refiners have tripled their exports of diesel so far this year as export quotas and rising refining margins in Asia proved incentives enough amid tepid domestic diesel demand.   Between January and August, China’s exports of diesel soared by 19…

It has entered into a limited notice to proceed agreement with an affiliate of Wison Offshore & Marine to purchase $43.04mn of long lead items. [Image: Wisopn]

Australia’s Offshore Alliance union said on Sunday that workers had begun a second 24-hour strike at Chevron’s liquefied natural gas (LNG) plants in Western Australia. [Image: Chevron]