Day: October 11, 2023

Back in April, the Wall Street Journal reported Exxon was interested in acquiring Pioneer Natural Resources. The company is the biggest independent producer in the Permian and an acquisition was the most logical path to growth there after the record ye…

LNG demand in Asia and Europe is beginning to rise ahead of the peak winter season amid a calmer market compared to last year’s chaos and record-high prices. But neither Europe nor Asia should be complacent about winter gas supply as winter weather, de…

November natural gas futures on Wednesday faltered for the first time in seven sessions as traders booked profits and bulls took a breather ahead of the next potential market catalyst – Thursday’s government inventory report. At A Glance: Modest injection anticipated Production close to 101 Bcf/d Mixed weather-demand view The November Nymex gas futures contract…

The post Natural Gas Futures Snap Lengthy Streak of Gains Ahead of Storage Print; Cash Prices Cascade appeared first on Natural Gas Intelligence

THE CITY appears to be losing its battle to explain ‘ESG’ to normal Brits as precious few claim to know what the Square Mile’s favourite acronym even means, a new survey has suggested.  Just 13 percent of the British public have a ‘good understanding’ …

California regulators have proposed fining Pacific Gas and Electric Co. (PG&E) $45 million for damages related to the Dixie Fire, the state’s second largest wildfire ever. The Dixie Fire erupted in Butte County, CA, in the summer of 2021 after a tree fell on a PG&E powerline. The fire burned through 963,000 acres in five…

The post California Natural Gas Utility PG&E Facing $45M in Penalties for ’21 Dixie Fire appeared first on Natural Gas Intelligence

Russia’s commitment to reduce its oil exports by 300,000 barrels per day (bpd) includes oil products, Russian Deputy Prime Minister Alexander Novak said on Thursday in remarks that sowed further confusion about how much oil supply Russia is really with…

The French government will further restrict store and commercial real estate lighting usage and fine offenders as part of a new set of measures aimed at saving energy. France and all other European countries are looking to curb energy and gas use after…

The U.S. Energy Information Administration (EIA) has raised its Henry Hub spot price forecast for 4Q2023 to $3.03/MMBtu, though the agency spotlighted storage levels that remain on the high side of historical norms.   EIA in its latest Short-Term Energy Outlook modeled a Henry Hub spot price of $3.31 for 1Q2024, which would compare bullishly to…

The post EIA Raises Henry Hub Forecast for 4Q as Natural Gas Exports Set to Rise appeared first on Natural Gas Intelligence

Rice University researchers have found a way to harvest hydrogen from plastic waste using a low-emissions method that generates graphene as a by-product, which could help offset production costs. Hydrogen is viewed as a promising alternative to fossil …

Emissions from fossil fuels projected to decline through 2023 and 2024.

Colombia needs to expand domestic natural gas production and/or add more LNG import capacity to avoid a potential gas supply deficit, energy experts are warning. “Currently, Colombia is on course to run short of domestic gas this decade, with a gap between gas supply, including import capacity, and demand of 560 MMcf/d projected for 2030,”…

The post ‘Time Is Running Out’ on Colombia Natural Gas Market as Supply Shortfall Looms appeared first on Natural Gas Intelligence

There are signs that tensions are abating in relations between Azerbaijan and Iran.  They come in the wake of Baku’s lightning offensive to take back Nagorno-Karabakh and the subsequent exodus of the region’s ethnic Armenian population. Iran officially…

Petrobras expects to begin in 2024 offshore exploration drilling close to the mouth of the Amazon River in the so-called Equatorial Margin offshore Brazil, the chief executive of the Brazilian state-owned oil and gas giant said on Wednesday. Petrobras …

Following this weekend’s attack by Hamas on Israel, the United States could re-freeze at any time the $6 billion for humanitarian purposes to Iran which was part of a prisoner swap last month, Bloomberg reports. In September, five Americans imprisoned …

Via Metal Miner The fresh conflict between Israel and Hamas in Palestine has started to ring warning bells throughout supply chains for oil, steel, and various metals. Indeed, if prolonged, the conflict could adversely affect steel prices as well as ma…

Primary energy use will increase globally through 2050 in all cases examined in updated projections from the U.S. Energy Information Administration (EIA), pointing to a rise in North American natural gas production and exports to help meet the growing demand. Meanwhile, greater adoption of non-fossil fuel-based energy resources such as nuclear and renewables will likely…

The post U.S. Natural Gas Exports to Grow to 2050 as Global Energy Demand Rises, EIA Says appeared first on Natural Gas Intelligence

Global energy consumption will likely increase through 2050 and outpace advances in energy efficiency, the U.S. Energy Information Administration said on Wednesday.

November natural gas futures forged ahead to new autumn highs on Tuesday, climbing for a sixth straight session amid choppy domestic production and fresh global supply worries ignited by the eruption of war in the Middle East. Following a 3.8-cent gain the prior session – and a 14% advance last week – the November Nymex…

The post November Natural Gas Futures, Cash Prices Gain More Ground as Supply Questions Fester appeared first on Natural Gas Intelligence

Venezuela has received a second shipment of fuel for Italian supermajor Eni in a month, Bloomberg has reported, noting the amount of the shipment was 351,000 barrels. The shipment is fuel aid for the country, which cannot produce enough gasoline and di…

During a wide-ranging interview with The Epoch Times, the leadership of Nano Nuclear Energy Inc. predicted they would win the race to commercialize a reactor small enough to fit in a shipping container. “By 2030, we’re pretty convinced we’ll be the fir…

Venezuela is deploying a secret weapon to defeat strict U.S. sanctions aimed at blocking the OPEC member’s economically crucial crude oil exports, a dark fleet of tanker vessels using a range of strategies to conceal their location. Recently the dark f…

Two new terminals for importing liquefied natural gas (LNG) to Finland have enough capacity to cover peak winter demand, making up for supply lost via the damaged Balticconnector pipeline, market observers said on Wednesday.

The Biden administration is set to announce today new sanctions on Russia targeting specifically its oil exports after multiple reports that Russian crude was selling at a significant premium to the G7 price cap of $60. CNN reported that the target of …

The American Petroleum Institute (API) has reported a major inventory build of 12.940 million barrels in U.S. crude inventories, compared to last week’s 4.210-million-barrel draw. Analysts were expecting a build for the week—although a much smaller one…

QatarEnergy said Wednesday it has agreed to provide TotalEnergies SE with 3.5 million tons (Mt) of LNG annually over the course of 27 years from its massive North Field expansion projects.  The company said cargoes for TotalEnergies from the North Field East (NFE) and North Field South (NFS) projects would begin in 2026 under two…

The post QatarEnergy Inks Its Largest European LNG Supply Deal with TotalEnergies appeared first on Natural Gas Intelligence

Finland and other Baltic countries are on high alert as a natural gas undersea pipeline leak was detected on Sunday from Finland to Estonia. EU officials already suspect the leak was caused by a ‘deliberate act of destruction,’ which fuels concerns abo…

India’s diesel exports loading for Europe hit a record high in September amid open arbitrage for westbound shipments, Reuters reported on Wednesday, citing tanker-tracking data and analysts. Last month, diesel cargoes loading from India and bound for E…

A U.S. federal court has set January 22, 2024, as the start of the first bidding round for creditors and claimants against Venezuela’s oil asset appropriation and debts owed by Venezuela’s U.S.-based refiner Citgo, Reuters reports, citing court documen…

India’s diesel exports loading for Europe hit a record high in September amid open arbitrage for westbound shipments, Reuters reported on Wednesday, citing tanker-tracking data and analysts. Last month, diesel cargoes loading from India and bound for E…

U.S. liquefied natural gas (LNG) company Venture Global LNG asked federal energy regulators for permission to commence service of liquefaction blocks 7-9 at its Calcasieu Pass LNG export plant in Louisiana.

President Alar Karis says Estonia is demanding answers for damage to a Baltic Sea gas pipeline running to Finland that the Baltic nation’s defense minister said was the result of “quite heavy force” that could have been caused by “mechanical impact.” F…

One of the world’s exploration hotspots, Namibia, expects first oil from the recent major offshore discoveries by 2030, the country’s Petroleum commissioner Maggy Shino told Reuters on Wednesday. “For the oil project, deep water we are thinking of havi…

As has been speculated for months, ExxonMobil on Wednesday agreed to buy Permian Basin pure-play Pioneer Natural Resources Co. in a mega all-stock transaction valued at $59.5 billion. The implied total enterprise value, including net debt, is estimated at $64.5 billion. “Pioneer is a clear leader in the Permian, with a unique asset base and…

The post ExxonMobil Creating Permian Juggernaut with Pioneer Natural Merger Valued at $59.5B appeared first on Natural Gas Intelligence

Natural gas futures trimmed their recent gains in early trading Wednesday as a comfortable domestic supply picture to close out the injection season curbed upside for prices. The November Nymex contract was off 1.4 cents to $3.368/MMBtu at around 8:40 a.m. ET. The front month in Tuesday’s session reached an intraday high of $3.449, shy…

The post Production, Storage Cushion Seen Pressuring Prices as Natural Gas Futures Trim Gains appeared first on Natural Gas Intelligence

China’s push for a different world order that diminishes the US has extended to using its own currency instead of the dollar to pay for oil and gas imports, but the so-called “de-dollarisation” of some Chinese trade will not weaken the global importanc…

One of the world’s exploration hotspots, Namibia, expects first oil from the recent major offshore discoveries by 2030, the country’s Petroleum commissioner Maggy Shino told Reuters on Wednesday. “For the oil project, deep water we are thinking of havi…

Exxon Mobil will buy U.S. rival Pioneer Natural Resources in an all-stock deal valued at $59.5 billion that would make it the biggest producer in the largest U.S. oilfield, securing a decade of low-cost production.

Frederickson 1 is a 265 MW natural gas-fired combined-cycle generating facility in Pierce County, Washington. [Image: Capital Power]

China is likely to have saved $10 billion on crude oil imports so far this year as it has imported record volumes of cheaper oil from Russia, Iran, and Venezuela—all three under U.S. and Western sanctions, a Reuters analysis showed on Wednesday. As int…

Saudi Arabia and Russia, the world’s top two oil exporters, will discuss the situation on the oil market and oil prices on Wednesday amid the escalating conflict between Israel and Hamas, President Vladimir Putin’s top oil official said.

The LNG will be delivered ex-ship to the Fos Cavaou LNG receiving terminal in southern France. [Image: QatarEnergy]

TMK will retain Talon’s 33% earned interest in the project via the acquisition of Talon’s wholly-owned subsidiary.

There has been an increase in 2P and 3P gas reserves of 36% and 13%, respectively.

U.S. LNG developer Tellurian Inc has asked regulators for a three-year construction permit extension to complete its $25 billion liquefied natural gas (LNG) export facility, according a government filing.

The Fuling shale gas field is one of the largest and most productive shale gas fields in China.

Back in April, Exxon Mobil’s (NYSE:XOM) CEO Darren Woods touted to investors the company’s newly created ‘Low Carbon’ business which he claimed has the potential to outperform its legacy oil and gas business within a decade and generate hundreds of bil…