Day: October 12, 2023

Renewable energy stocks have been badly pummeled, underperforming 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 considera…

Higher gasoline prices pushed U.S. producer prices up in September, fueling worry that there is still a long way to go before inflation is tamed. Indeed, with the current degree of oil price volatility, the taming has suddenly become quite questionable…

Bears maintained a grip on natural gas futures Wednesday following an in-line storage print, an increase in production and forecasts for benign weather in the second half of October. Coming off a half-cent decline the prior session, the November Nymex gas futures contract shed another 3.3 cents day/day and settled at $3.344/MMBtu. December declined 1.9…

The post Natural Gas Futures Prices Fall Second Day After Government Data Show Sufficient Supplies – For Now appeared first on Natural Gas Intelligence

Colombia’s cocaine production continues to soar ever higher. For the fourth year straight, the United Nations Office on Drugs And Crime (UNODC) reported that Colombia’s 2022 cocaine output surged to yet another all-time high. Since the early 1980s, the…

Aside from some nearer term discounts at elevated western hubs, Lower 48 natural gas forwards raced higher during the Oct. 5-11 trading period, riding a wave of bullish sentiment in Nymex futures and at benchmark Henry Hub, NGI’s Forward Look data show. A bullish surprise from the U.S. Energy Information Administration’s (EIA) Oct. 5 natural…

The post Natural Gas Forwards Soar Overall Despite Near-Month Discounts Out West appeared first on Natural Gas Intelligence

North American natural gas futures continued their hot streak this week, even as they cooled slightly on Wednesday and Thursday. After a six day rally, November New York Mercantile Exchange natural gas futures saw a half-cent decline on Wednesday and shed another 3.3 cents on Thursday to settle at $3.344/MMBtu. NatGasWeather said warmer temperatures could…

The post Turbulence in Global Markets as U.S. Natural Gas Exports Seen Rising – Mexico Spotlight appeared first on Natural Gas Intelligence

State-owned National Gas Company will have interest in all four Atlantic LNG trains, up from two. [Image: Atlantic LNG]

One of my 2023 energy sector predictions was that U.S. oil production would set a new all-time high this year. After record-setting production thus far this year, it would take a collapse along the lines of the huge Covid drop seen in the spring of 202…

China imported higher volumes of crude oil in September compared to the same month of 2022, while other energy commodity imports remained robust and imports of unwrought copper hit the highest monthly level so far this year.   The Chinese economy has r…

Iran and Russia signed a memorandum of understanding pertaining to oil and gas on the sidelines of the 6th Russian Energy Week International Forum. The MoU was signed by the chief of Iran’s Institute for International Studies and the CEO of Russia’s Ro…

Iran and Russia signed a memorandum of understanding pertaining to oil and gas on the sidelines of the 6th Russian Energy Week International Forum. The MoU was signed by the chief of Iran’s Institute for International Studies and the CEO of Russia’s Ro…

Households will be on the hook for Ofgem’s plans to stabilise the energy sector, with the regulator considering a rise in energy bills to reduce the risk of suppliers going bust. Ofgem is concerned over rising bad debt across the industry, which climbe…

Venture Global LNG Inc. has requested permission from FERC to bring three additional liquefaction blocks online at its Calcasieu Pass facility in Louisiana as part of the nearly two-year long commissioning process. The Virginia-based liquefied natural gas exporter in a recent filing told Federal Energy Regulatory Commission staff that it was ready to place blocks…

The post Venture Global Asks to Bring Calcasieu Parish LNG’s Final Blocks Fully Online appeared first on Natural Gas Intelligence

Via Metal Miner The United Auto Workers strike finally began to take its toll on the Automotive MMI (Monthly Metals Index) as well as month-over-month steel prices. Regarding price drops, hot-dipped galvanized managed to suffer the most. And with the s…

Israel’s natural gas business – and the regional countries it serves – may face challenges as long as the bloody conflict with the Islamist militant group Hamas continues, according to energy analysts. Following a surprise attack early Saturday, Israel declared war against Hamas. As of Thursday, close to 3,000 people had been killed, including at…

The post Israel Natural Gas Operations Said Less Secure as Hamas War Escalates appeared first on Natural Gas Intelligence

The government must send “clear signals” to clean energy investors that the UK is ready for business, or risk failing to meet its hydrogen ambitions. Sarah Williams, director of regulation at Wales and West Utilities, told City A.M. that domestic renew…

The New York state authorities have rejected a request by Orsted, BP, and Equinor for raising the price of electricity in future power purchase contracts featuring offshore wind energy. Offshore wind developers have been pressured by rising raw materia…

The United States has slapped sanctions on two tanker owners for carrying Russian oil sold for over $60 per barrel. This is the first time the U.S. is imposing sanctions for a breach of the price cap that the G7 and the European Union agreed to impose …

While consumer prices rose 0.4% from August to September, representing a slowdown from the previous month, core inflation remained high, but this month, it was housing prices rather than gasoline that was the biggest contributor to the all-items increa…

While consumer prices rose 0.4% from August to September, representing a slowdown from the previous month, core inflation remained high, but this month, it was housing prices rather than gasoline that was the biggest contributor to the all-items increa…

While consumer prices rose 0.4% from August to September, representing a slowdown from the previous month, core inflation remained high, but this month, it was housing prices rather than gasoline that was the biggest contributor to the all-items increa…

The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 84 Bcf natural gas into storage for the week ended Oct. 6. The result landed near expectations and compared bullishly with historical norms. Nymex natural gas futures traded in a narrow range following the report.   At A Glance: BREAKING: U.S. EIA reports 84…

The post November Natural Gas Futures Lose Momentum to Halt Six-Day Price Rally appeared first on Natural Gas Intelligence

Russia’s invasion of Ukraine and Moscow’s “weaponization” of energy have placed the diversification of energy supplies high on the agenda of European countries. However, as Statista’s Martin Armstrong reports, although this remains a long and costly pr…

Kimmeridge Energy Management Co. LLC is expanding its presence in the Eagle Ford Shale of South Texas, with an upstream natural gas-weighted acquisition and a multi-year transport agreement aimed at the LNG export market. Kimmeridge, an alternative asset manager focused on the energy sector, said affiliate Kimmeridge Texas Gas (KTG) signed a deal to acquire…

The post Kimmeridge Adding Eagle Ford Natural Gas Acreage, Pipeline Capacity with Eye Toward LNG Exports appeared first on Natural Gas Intelligence

OPEC’s crude oil production rose in September compared to August, according to the group’s latest Monthly Oil Market Report (MOMR) published on Thursday. According to the MOMR, OPEC’s crude oil production rose to 27.755 million bpd in September—up 273,…

The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 84 Bcf natural gas into storage for the week ended Oct. 6. The result landed near expectations and compared bullishly with historical norms. Nymex natural gas futures traded in a narrow range following the report.   Ahead of the 10:30 a.m. ET government report,…

The post November Natural Gas Futures Tread Lightly After EIA Prints 84 Bcf Injection  appeared first on Natural Gas Intelligence

Crude oil prices saw a small dip on Thursday morning after the Energy Information Administration reported an inventory build of 10.2 million barrels for the week to October 6. The inventory change compared with a draw of 2.2 million barrels for the pre…

In the past 2 weeks, the price for Brent crude oil has closed as high as $96.55 per barrel and as low as $84.07, while yesterday it settled at $85.82. Volatility in oil markets is nothing new, particularly in the context of the past few years, however …

Tanzania is expecting to officially launch the country’s fifth oil and gas licensing round by June and award licences to the winners by December of the same year, the director general of its Petroleum Upstream Regulatory Authority (PURA) said on Thursday.

Global oil demand is set to rise by 2.4 million barrels per day (bpd) this year and by another 2.2 million bpd next year amid improving Chinese economy, OPEC said on Thursday, leaving its demand forecast for both 2023 and 2024 unchanged, despite fears …

Global oil demand is set to rise by 2.4 million barrels per day (bpd) this year and by another 2.2 million bpd next year amid improving Chinese economy, OPEC said on Thursday, leaving its demand forecast for both 2023 and 2024 unchanged, despite fears …

Proposed U.S. and Mexican LNG facilities continue to face regulatory uncertainty roughly six months after federal regulators reaffirmed their expectations that projects should start exporting the super-chilled fuel within seven years of receiving export authorization from the U.S. Department of Energy (DOE). Over 40 liquefied natural gas projects are advancing across North America, with the…

The post Nearly Two Dozen LNG Projects Still Facing Uncertainty Over DOE Export Policy appeared first on Natural Gas Intelligence

Golden Pass LNG is building relationships with domestic natural gas buyers and sellers as it inches closer to the possible start-up of a first train by the end of next year, according to management. The 18 million metric ton/year (mmty) liquefied natural gas export facility has been under construction southeast of Houston since early 2019.…

The post Golden Pass LNG Exec Says Infrastructure, Supply Partnerships Critical as Start Date Nears appeared first on Natural Gas Intelligence

North Carolina’s Republican-majority lawmakers on Tuesday overturned Gov. Roy Cooper’s (D) veto of House Bill 600, which would streamline water quality requirements for the extension of the Mountain Valley Pipeline (MVP). The move gives a boost to MVP’s extension plans, known as the MVP Southgate Project. North Carolina regulators denied a water quality permit for…

The post MVP Extension Project Gets Boost from North Carolina Legislature appeared first on Natural Gas Intelligence

Natural gas futures pulled back early Thursday as expectations differed on how the latest government report would pan out following a decidedly bullish outcome in the week prior. The November Nymex contract was down 4.5 cents to $3.332/MMBtu at around 8:45 a.m. ET. The U.S. Energy Information Administration (EIA) will report a shoulder season injection…

The post Natural Gas Futures Retreat Early as Traders Await Follow-Up to Bullish EIA Print appeared first on Natural Gas Intelligence

Global oil demand is set to rise by 2.4 million barrels per day (bpd) this year and by another 2.2 million bpd next year amid improving Chinese economy, OPEC said on Thursday, leaving its demand forecast for both 2023 and 2024 unchanged, despite fears …

The oil market is on edge over the escalation of geopolitical risk in the Middle East after this weekend’s attack by Hamas on Israel, with uncertainties about how events will unfold or how far the conflict could spread, the International Energy Agency …

Germany’s underground gas storage caverns are over 97% full but it could still run into supply problems in the winter, storage operators group INES said on Thursday, recommending plans to reduce usage are kept on stand-by.

This is due to the strong total cost of ownership advantage of CNG vehicles over other technologies. [Image: MGL]

Finland can’t rule out the possibility that a “state actor” was involved in damaging a Baltic Sea gas pipeline and a parallel telecoms cable, the Finnish Security Intelligence Service said on Thursday as NATO ministers sat down to talks on the incident.

Bumi Armada has developed the barge-based liquefaction unit for a standardised LNG design capacity based on having a modularised and repeatable compact design. [Image: Bumi Armada]

Oct 12 (Reuters) – Australia’s competition watchdog said on Thursday it intended to deny authorization for industry participants in the national electricity market to coordinate information sharing, on concerns it would breach the country’s competition laws.
The Australian Competition and Consumer C…

Operations began on October 1 following the start of operations for the first unit at the end of March. [Image: Mitsubishi Power]

The company believes that the move will best position Tamboran group for the next phase of its growth as it seeks to accelerate the commercialisation of the Beetaloo sub-basin.

Senior management at Pioneer Natural Resources will likely be out of a job once the company’s $60 billion sale to Exxon Mobil is completed, but the top brass will walk away with bumper payouts which were sweetened further earlier this year.

Back in August, we reported that Iran oil exports had hit record highs thanks in large part to the Biden administration opting to look the other way as Tehran boosts production ostensibly in a bid to keep markets well supplied and oil prices low. The p…