Day: October 3, 2023

The EU’s Carbon Border Adjustment Mechanism (CBAM), commonly known as the “carbon border tax”, kicked off on October 1 in the first transitional phase for imports of several carbon-intensive groups of products into the European Union.      The first ph…

Renewable energy stocks have badly underperformed their fossil fuel peers and the broader market in the current year, with the selloff accelerating in recent months thanks to higher interest rates and a hawkish Fed outweighing considerable backing by t…

ExxonMobil has selected the world’s largest asset manager, BlackRock, as a buyer for its 70.7% stake in Adriatic LNG, Italy’s first regasification import terminal, the U.S. supermajor told Reuters on Wednesday. Exxon currently holds 70.7% of Adriatic L…

Natural gas futures on Tuesday forged ahead for the first time in three sessions, supported by production interruptions, cash market strength and expectations for a relatively modest storage injection. Following an 8.9-cent drop in the previous session, the November Nymex gas futures contract gained 10.9 cents day/day and settled at $2.949/MMBtu. December advanced 8.0 cents…

The post Natural Gas Futures, Cash Prices Find Fresh Footing as Pressure Persists on Production appeared first on Natural Gas Intelligence

Via Metal Miner In recent weeks, leading up to the end of the month, indices like the S&P500 and metals like silver and gold began to run out of steam. The impetus for the decline in stock and precious metal prices was recent Fed comments regarding hig…

Russia may be close to partially lifting the export ban on diesel, allowing pipeline diesel exports within days, as full storage facilities threaten to force refiners to cut throughput, Russian daily Kommersant reported on Wednesday, quoting several un…

Mexico’s national utility Comisión Federal de Electricidad (CFE) through its international marketing subsidiary CFE International LLC (CFEi) has put out a bid for proposals for the supply of natural gas from Texas. CFEi is the U.S.-based entity responsible for procuring natural gas to support power generation and other needs in Mexico. The Mexican state giant…

The post Mexico State Utility Seeking More Natural Gas from South and West Texas appeared first on Natural Gas Intelligence

Battery electric vehicles (BEV) are the clear winner when trying to reduce emissions in the transportation sector, according to Rystad Energy research. Despite incurring higher emissions in the manufacturing process of electric vehicles and an enduring…

BP is considering selling 49% of its oil and gas pipeline network on the U.S. Gulf Coast, eyeing proceeds of $1 billion, Reuters has reported, citing unnamed sources. The supermajor has already organized its pipeline stakes into a separate company, in …

Crude oil prices dipped in mid-morning trade in Asia earlier today as the market awaits the ministerial meeting of OPEC+ where the officials will discuss production policy. Most observers seem to expect no change to the current approach to price contro…

Colombia needs more natural gas imports to meet growing power demand as El Niño-influenced weather conditions have resulted in water shortages, necessitating a shift away from hydroelectricity. The trend has put pressure on already constrained gas supplies in the country. But a recent proposal to add import capacity with a second LNG terminal received only…

The post Lack of Investor Interest Inhibits Colombia’s Plan to Boost LNG Imports  appeared first on Natural Gas Intelligence

The offshore wind industry is in crisis. Already this year, projects across Europe and the United States have been delayed or shelved thanks to a “perfect storm of supply chain delays, design flaws and higher costs” just when added clean energy capacit…

Sunny California will see its skies darken for about three hours in mid-October by a rare annular eclipse, and officials now are working overtime with regional authorities, as well as natural gas interstate and intrastate suppliers, to ensure there are adequate resources available to make up for the expected solar shortfall. An all-hands effort is…

The post California Partnering with Natural Gas Suppliers to Prepare for Solar Eclipse appeared first on Natural Gas Intelligence

In our continuing effort to stay ahead of the changes in physical flows of the North American natural gas market, Natural Gas Intelligence (NGI) proposes to amend the spot market price tables that appear in NGI’s various data services by adding three (3) new locations and making changes to six (6) existing indexes. All proposed…

The post NGI’s Proposed Natural Gas Price Index Changes to Take Effect December 1, 2023 appeared first on Natural Gas Intelligence

Nigerian National Petroleum Corporation (NNPC) is working with investors and partners to bring back substantial capacity in Nigeria to supply gas to the market, CEO Mele Kolo Kyari said on Tuesday.

University of California – Riverside chemical engineers have designed a fuel that ignites only with the application of electric current. Since it doesn’t react to flames and cannot start accidental fires during storage or transport, it is a ‘safe’ liqu…

Oct 3 (Reuters) – U.S. liquefied natural gas (LNG) company Freeport LNG sought permission from federal energy regulators to take more steps to return its export plant in Texas to full commercial operation.

Natural gas futures fell again Monday, extending losses from the prior week as forecasts pointed to more mild weather and LNG volumes continued to prove turbulent. The November Nymex gas futures contract settled at $2.840/MMBtu, down 8.9 cents day/day. December fell 7.9 cents to $3.233. At A Glance: Mild temperatures ahead Production ticks lower NGI…

The post Natural Gas Futures Prices Wobble as Weather Demand Dwindles appeared first on Natural Gas Intelligence

Ryanair and Wizz Air reported strong passenger growth over September, despite fears in the industry of a slowdown in demand following this years’ summer bonanza. Ryanair saw passenger numbers rise 9 percent year-on-year to 17.4m, representing a slight …

New Fortress Energy Inc. has shipped the final jack-up rig to complete its first floating liquefaction facility offshore Mexico’s east coast and now expects first LNG production by next month.  NFE said last week that the Pioneer 2 platform set sail from a Kiewit Corp. shipyard in Ingleside, Texas. It is one of three rigs…

The post NFE on Track for First LNG at Altamira Facility in Mexico by November appeared first on Natural Gas Intelligence

The North American lithium industry is likely about to get a $1 billion injection. The United States Department of Energy (DOE) is currently in talks with Canadian mining company Lithium Americas over a massive round of funding for its Nevada project. …

Freeport LNG has requested to return its export plant in Texas to full commercial operations, according to a new regulatory filing made late on Monday, Reuters has said.  Freeport LNG has asked the U.S. Federal Energy Regulatory Commission (FERC) for p…

Bosnian Serb leader Milorad Dodik said on October 2 after meeting with Hungarian Prime Minister Viktor Orban in Budapest that Hungary may take over infrastructure projects that Germany suspended in the Bosnia-Herzegovina’s Serb-dominted entity over Dod…

Oil markets lost some of their bullish shine at the start of October, with a strong dollar, worrying economic data out of Europe, and the prospect of another OPEC+ policy change weighing oil prices down.Chart of the Week- Negative price arbitrage for A…

While Turkey said on Monday that Iraqi oil exports would resume this week through a stalled oil pipeline, Iraq is saying that negotiations are still ongoing, an anonymous Iraqi official told Reuters on Tuesday.  “We have further meetings soon and thing…

The American Petroleum Institute (API) has reported a large draw of 4.210 million barrels in U.S. crude inventories, compared to last week’s 1.586-million-barrel build. Analysts were expecting a modest inventory draw of 92,000 barrels for the week. The…

Bosnian Serb leader Milorad Dodik said on October 2 after meeting with Hungarian Prime Minister Viktor Orban in Budapest that Hungary may take over infrastructure projects that Germany suspended in the Bosnia-Herzegovina’s Serb-dominted entity over Dod…

India’s oil-to-telecoms conglomerate Reliance Industries presented on Wednesday a removable battery for energy storage that could be used for electric vehicles and for powering appliances via an inverter, company officials told Reuters.   Reliance Indu…

Iraq is inviting international companies to bid for 30 new oil and gas projects in two licensing rounds until January 2024, as OPEC’s second-largest oil producer looks to boost crude production and reduce gas import dependence. The so-called “fifth plu…

Tesla released its production and delivery numbers for Q3, stating it delivered 435,059 vehicles and produced 430,488 vehicles, missing consensus delivery estimates of 456,722, according to Bloomberg. Shares were down as much as 3.5% in pre-market trad…

Iraq has set a January 2024 deadline for international energy companies to submit formal letters of intent to take part in its so-called “fifth plus” and sixth licensing rounds, as the country strives to boost gas production and cut imports.

The natural gas and oil sector has demonstrated the reduction of methane emissions through improving detection methods, according to a report of companies that represent about 70% of U.S. onshore operations. The Environmental Partnership’s fifth annual report noted that methane emissions came down from various actions, which included replacing natural gas-driven pneumatic controllers with low-…

The post Natural Gas, Oil Industry Upgrading to Reduce Methane Emissions appeared first on Natural Gas Intelligence

With the rights to more than 10,000 acres of land in West Texas, Milestone Carbon is eyeing a carbon sequestration hub to serve industrial emitters in the Permian Basin. The carbon capture and sequestration (CCS) hub would be built in the southwestern corner of the Midland sub-basin in Upton and Midland counties, according to the…

The post Milestone’s Proposed West Texas CCS Hub to Serve Permian E&Ps, Heavy Industry appeared first on Natural Gas Intelligence

Natural gas futures pared their recent losses early Tuesday as traders continued to mull a mixed shoulder season outlook that included modestly cooler forecast trends and weaker production estimates.  Coming off an 8.9-cent slide in the previous session, the November Nymex contract was up 3.7 cents to $2.877/MMBtu at around 8:40 a.m. ET. The November…

The post Natural Gas Futures Climb Early Amid Modest Cooler Trends, Weaker Production appeared first on Natural Gas Intelligence

India has invited French oil major TotalEnergies to bid for oil exploration rights in the country, as the world’s third-biggest oil importer and consumer seeks to reduce its dependence on costly imports.

Egypt, which faces growing demand for gas from its population of 105 million, will resume liquefied natural gas (LNG) exports this month as planned, petroleum minister Tarek El Molla said on Tuesday.

Dutch and British wholesale gas prices fell on Tuesday morning on weak demand and increased Norwegian supply.

The launch of Hong Kong’s first LNG terminal in July will see the city lean on imported gas to shore up its energy security and accelerate decarbonisation, but the fuel is not a long-term solution for local net-zero goals. [Gas in Transition, Volume 3,…

U.S. exports of liquefied natural gas (LNG) fell modestly in September from August as scattered outages at four gas-processing plants led to lower shipments, LSEG vessel tracking data showed.

Tabeer Energy and Tabeer Energy Marketing are wholly-owned subsidiaries of Japan’s Mitsubishi Corporation.

Much of Moldova will no longer buy gas from Russian energy giant Gazprom, Moldovan Energy Minister Victor Parlicov said on Monday, referring to parts of the country that capital Chisinau controlled and not breakaway areas.

The price has been increased to $9.20/mn Btu from $8.60/mn Btu in September.

The seismic survey programme also included the acquisition of several 2D seismic lines in exploration permit EP 457.

Thai oil and gas giant PTT Exploration and Production (PTTEP) may extend its contracts for two gas fields in neighbouring Myanmar when one ends in 2028 and the other in about 20 years, its chief executive said on Monday.

It will provide a modularised LNG system and power island. [Image: Venture Global]

There are three key determinants of how high oil prices will go from here. First, whether it is in the financial interests of the key players who have been pushing them higher to keep doing so. Second, whether it is in their geopolitical interests to k…