Day: November 15, 2023

Three years ago, interest rates hit an 800 year low, if you believe the interest rate mavens after having declined steadily for 42 years. Just recently, interest rates hit a 16 year high. Something of interest to bankers, investors and financiers? Yes,…

Natural gas futures jumped Wednesday as traders looked ahead to below-normal temperatures for most of the country in late November and a rare double dose of weekly government storage data Thursday. At A Glance: Prompt month adds 8.4 cents Rockies, California lead cash gains NGI estimates 9 Bcf draw, 43 Bcf injection The December Nymex…

The post Natural Gas Futures Forge Ahead On Frigid Late November Forecasts; Cash Falls in Midwest and East appeared first on Natural Gas Intelligence

Mexico’s pipeline imports of U.S. natural gas should continue to grow over the coming years even in the most conservative demand scenarios, experts agreed this week at the US-Mexico Natural Gas Forum. The power sector is driving demand growth currently, a trend that is likely to continue in the immediate term as state power company…

The post Mexico’s Natural Gas Imports, Economy Seen Growing Despite AMLO-imposed ‘Glass Ceiling’  appeared first on Natural Gas Intelligence

As countries worldwide transition away from fossil fuel-powered vehicles in favour of electric alternatives, the used EV market is expected to rapidly pick up pace. While the uptake of EVs has been relatively niche until recently, the stockpile of used…

Researchers at University of New South Wales Sydney and their collaborators have developed an innovative technique for sustainable ammonia production at scale. With a prototype unit nearing production of ammonia for fertilizers, in a market that has on…

BP plc has reshuffled its priorities for West African natural gas development as it progresses offshore activities and the Greater Tortue Ahmeyim (GTA) LNG project. Kosmos Energy Ltd., BP’s partner in Senegal’s estimated 25 Tcf Yakaar-Teranga gas discoveries, has assumed majority ownership and operator status with acquisition of BP’s working interest earlier in the month.…

The post BP Exits Senegal’s Yakaar-Teranga Natural Gas Field as Greater Tortue LNG Project Faces Delay appeared first on Natural Gas Intelligence

The number of clean energy jobs has jumped globally in recent years, thanks to the booming renewables sector in China, but a looming shortage of skilled workforce could be a barrier to ramping up activity, the International Energy Agency (IEA) said in …

A U.S. court of appeals has vacated the emissions permit for Sempra’s Port Arthur LNG in Jefferson County, Texas, potentially delaying the timeline for one of America’s future LNG export plants. The United States Court of Appeals for the Fifth Circuit …

Ocean thermal energy conversion (OTEC) is the oldest renewable energy technology you’ve never heard of. The idea for the technology, which exploits the differing temperatures in different layers of ocean water to create energy, is almost 150 years old,…

Carbon capture, utilization, and storage (CCUS) could play a vital role in the decarbonization of some industries but carbon removals cannot be used by oil and gas firms while they continue to pump fossil fuels as usual, a new report by the Energy Tran…

Beijing has asked Chinese coal miners to ramp up production ahead of peak demand season this winter. A spokesperson for the National Reform and Development Commission—Beijing’s planning agency—said that the central government will encourage local autho…

When Russian President Vladimir Putin arrived in Kazakhstan last week, he was greeted by his counterpart, Qasym-Zhomart Toqaev, and accorded the full pomp befitting a strategic ally.But there was a change in emphasis that was difficult to ignore. For P…

The UK government will boost its offer for electricity produced from wind farms by 66% at its next renewable energy auction. The move comes as wind developers complain of higher costs, higher interest rates, and low prices that the government is willin…

The United States will tighten sanctions on Iran’s oil industry amid the Israel-Hamas conflict aiming to bring exports down by more than 1 million bpd, White House energy security adviser Amos Hochstein told Bloomberg. “We are going to enforce those sa…

Saudi Arabia may extend its voluntary oil output cuts into the first quarter or the first half of next year, Reuters cited Energy Aspects co-founder Amrita Sen as saying on Wednesday, citing oil prices that are still too high and fundamentals that are …

Efforts in Djibouti to increase energy capacity and accelerate the shift from hydrocarbons to renewables moved forwards in September 2023 with the inauguration of the Ghoubet wind farm. Boosting capacity Located near Ghoubet Lake in the Arta Region alo…

Vitol Group, the world’s largest independent oil trader, has hired a supertanker to load oil from Venezuela, lists of ship charters compiled by Bloomberg showed on Wednesday.   Vitol has hired Gustavia S, capable of carrying 2 million barrels of oil, w…

A persistent drought impacting the Panama Canal has left LNG shippers with a few alternatives; either wait for weeks in a growing queue, pay exorbitant prices to jump the line or take a long detour. The water levels at Alajuela and Gatun, the two artificial lakes that supply water to the canal, have continued to…

The post U.S. LNG Exporters Seek Alternative Routes to Asia as Panama Canal Bottleneck Worsens appeared first on Natural Gas Intelligence

In a renewed effort to stabilize increasingly shaky relations between the two powers, U.S. President Joe Biden and Chinese leader Xi Jinping will meet today in San Francisco. But what can be expected from the November 15 meeting on the sidelines of the…

MMRV Working Group hopes to bring transparency to emissions along full natural gas supply chain.

Net income fell on lower production, reduced average sales prices.

The Federal Constitutional Court of Germany ruled on Wednesday that the government’s plans to transfer $65 billion (60 billion euros) from unused emergency COVID funding to Germany’s new Energy and Climate Fund is unconstitutional and the climate fund …

Crude prices saw a small jump this morning after the Energy Information Administration reported an estimated inventory increase of 3.6 million barrels for the week to November 10. The EIA did not publish data for the week before last, hence this report…

China Petroleum & Chemical Corporation, commonly known as Sinopec, has seen the first oil and gas flows from the deepest onshore well in Asia, which was recently completed, the Chinese energy giant and top refiner said this week. On Wednesday, Sinopec …

The story, “Natural Gas Futures Stumble as Forecasts Walk Back Some Demand; Cash Jumps on Permian Supply Cuts,” incorrectly stated the final settlement prices for the Nymex December and January natural gas futures contracts. December natural gas futur…

What do you get after a decade of negative real rates and unlimited QE as monetary policy? Losing $227,000 per vehicle as an acceptable business model for an automobile company! At least that’s the case over at Lucid, according to a new writeup from th…

Rival territorial claims have erupted into two new lawsuits that seek to limit or prevent project approvals in a Canadian hot spot for natural gas supplies, the Montney Shale in northern British Columbia (BC). Halfway River First Nation and Doig River First Nation filed the legal actions in Victoria and Vancouver trial courts. Both seek…

The post First Nation Tribes Seek to Tame Montney Natural Gas Projects in New Lawsuits appeared first on Natural Gas Intelligence

Simultaneous fracturing, aka simul-frac technology, is so last year, according to Denver-based Ovintiv Inc.  Ovintiv’s Permian Basin team has taken the well completions technique “one step further,” according to CEO Brendan McCracken. “We are stockpiling wet sand onsite from our local mines and completing three wells with a single frac spread at the same time,…

The post Ovintiv Cites ‘Trimul-frac’ Completions as Driving Improved Efficiency in Permian Natural Gas, Oil Production appeared first on Natural Gas Intelligence

Kuwait Integrated Petroleum Industries Company (KIPIC), the operator of the large Al-Zour Refinery, is working to gradually restore operations at the facility after the abrupt shutdown on Sunday, Reuters quoted the company as saying on Wednesday.    Th…

Reducing methane emissions and addressing methane leaks in operations are immediate actions from which both businesses and the climate will benefit, JP Morgan, one of the world’s top fossil fuel financiers, said in a new report on Wednesday. JP Morgan’…

As updated forecasts showed cold building for the eastern Lower 48 into the last week of November, natural gas futures advanced in early trading Wednesday. Coming off an up-and-down start to the week, the December Nymex contract was up 7.1 cents to $3.177/MMBtu at around 8:41 a.m. ET. Tuesday’s trading saw the front month finish…

The post Natural Gas Futures Advance Early as Market Eyes Late November Cold appeared first on Natural Gas Intelligence

Calgary, Alberta–(Newsfile Corp. – November 15, 2023) – Coelacanth Energy Inc. (TSXV: CEI) (the “Company” or “Coelacanth”) is pleased to announce that, further to its press release dated October 23, 2023, it ha…

(Reuters Breakingviews) – Sultan al-Jaber has a tough gig. In a fortnight the United Arab Emirates will host the 28th Conference of the Parties, the world’s key climate gathering. The chief executive of the Abu Dhabi National Oil Company (ADNOC) …

Europe’s benchmark natural gas prices rose early on Wednesday as the market is beginning to focus on winter supply risks. The front-month Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, rose by nearly 3% at the start of trading i…

Summary Denmark could block Russian tankers in its waters -FT US oil supply could be keeping prices down -analyst Inflation cools in US, UK LONDON, Nov 15 (Reuters) – Oil prices dipped on Wednesday amid signs the United States, the world’s …

World’s top exporter Saudi Arabia is expected to extend its additional voluntary supply cuts to at least the first quarter, if not the first half of 2024, Amrita Sen, co-founder of consultancy Energy Aspects said on Wednesday. Current oil prices are no…

CALGARY, Alberta, Nov. 14, 2023 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX: SFD; OTCQB: NSFDF) today announced the Company’s financial and operating results for the three and nine mont…

Siemens Energy AG is laying out a path to return to profit but it will take time. Ongoing problems at its Gamesa wind subsidiary will drive another operating loss this fiscal year, despite profits in other business lines, and the unit won’t break even …

Climate campaigner Greta Thunberg pleaded not guilty to a public order offense in London after being arrested while blockading an oil and gas conference. The Swedish activist, 20-years-old, was at Westminster Magistrates Court to plead with nine other …

Evaporating lithium brines in Chile, courtesy of Reuters Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE “Being salty” can be an expression of resentfulness or irritation. Like when your Edmonton Oilers fumble t…

Global oil markets are expected to be fairly balanced, with a slight surplus next year as demand and non-OPEC supply growth are exceeding expectations, the global head of research at Vitol, the world’s largest independent oil trader, said on Wednesday.

CALGARY — Parkland Corp. says it expects $6 billion in cumulative available cash flow from 2024 to 2028 that it plans to use to fund dividends, share buybacks, growth and debt reduction.
The company says it plans to use 25 per cent of the expected ca…

The European Union reached a deal on Wednesday on a law to place methane emissions limits on Europe’s oil and gas imports from 2030, pressuring international suppliers to clamp down on leaks of the potent greenhouse gas.

By Montrose Environmental In today’s world, environmental compliance is a crucial aspect for organizations across many different industries. Meeting regulatory requirements and effectively managing emissions data is essential for sustainable oper…

Serbia signed a deal with Azerbaijan to purchase 400 million cubic metres of natural gas per year from 2024, Azerbaijan’s energy ministry said on Tuesday.

Glencore Plc will buy a majority stake in Teck Resources Ltd.’s coal business, ending a months-long saga that transfixed the mining industry and setting the stage for the commodity giant to exit the coal business itself.The two companies have spent muc…

Investors continued to sell petroleum futures and options last week as sentiment became the most bearish since the middle of the year, before Saudi Arabia and its OPEC+ partners removed extra crude from the market. Hedge funds and other money managers …

Allows the company to start work on an 86 km section of pipeline.

The Trans Mountain oil pipeline expansion project on Tuesday said it had been allowed to resume work in a wetland area near Abbotsford, British Columbia, after correcting issues raised by the Canada Energy Regulator (CER). Earlier this month the CER or…

A tender process is still underway to select one supplier from the two shortlisted in the second stage, with which a charter agreement will be signed. [Image: Gaz-System]

It will provide operations and maintenance support services to the Ichthys LNG upstream and downstream facilities in Australia. [Image: Inpex]

CALGARY, Alberta, Nov. 14, 2023 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce its Q3 2023 financial and operational results and its preliminary guidance for 2024. Birchcliff is also plea…

The U.S. Department of Energy (DOE) on Tuesday rejected for a second time oil major Repsol SA’s request to reopen regulators’ approval of Venture Global LNG’s Calcasieu Pass export plant in Louisiana. [Image: Venture Global]

Calgary, Alberta–(Newsfile Corp. – November 14, 2023) – Greenfire Resources Ltd. (NYSE: GFR) (“Greenfire” or the “Company”), a Calgary-based energy company focused on the sustainable production and development of thermal energy resources from the Athab…

This growth was driven by a 5.8% increase in apparent consumption in September alone.

CALGARY, Alberta, Nov. 14, 2023 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident” or the “Company”) announces our operating and financial results for the quarter ended September 30, 2023. PPR’s interim financial statements and re…

This successful production of tight sand gas represents Aramco’s second unconventional gas stream.

Back in 2010, U.S. oil and gas giant Chevron Corp. (NYSE:CVX), alongside its partners NewMed Energy (OTCPK:DKDRF) and Ratio Oil Corp., discovered the Leviathan Gas Field, one of the world’s largest deep-water gas fields. Spanning 330 square kilometers …

The spot market for liquefied natural gas (LNG) is calmer than usual for this time of year as inventories in both Europe and Asia are high, and the weather is still mild.   Demand in Europe and Asia is rising in November compared to the warmer October,…