Day: December 13, 2023

Sustainable fund managers are left unimpressed by the latest commitment of the world’s biggest oil and gas firms to reduce emissions. During COP28, the presidency of the climate summit and Saudi Arabia announced that 50 oil and gas companies had joined…

January Nymex natural gas futures staged a modest recovery Wednesday, but attempts at more considerable gains were thwarted by overall mild weather trends that pointed to comparatively small storage withdrawals as production stayed robust. At A Glance: January futures stage modest recovery Slight cooldown provides some support Fundamentals remain mostly bearish The January contract settled…

The post EIA Storage Report Expectations and Mild Weather Limit Natural Gas Futures Gains appeared first on Natural Gas Intelligence

University of Freiburg researchers have developed a monolithically integrated photo battery using organic materials that is capable of powering miniature devices. The photo battery achieves an unprecedented high discharge potential of 3.6 volts.. The t…

Pine Cliff Energy Ltd. Announces Closing of Certus Acquisition Calgary, Alberta–(Newsfile Corp. – December 13, 2023) – Pine Cliff Energy Ltd. (TSX: PNE) (OTCQX: PIFYF) (“Pine Cliff” or the “Company”) is pleased…

Mexico President Andrés Manuel López Obrador, or AMLO, is ending his term the way he started it – by lambasting the nation’s regulators and accusing them of being in cahoots with private business interests. On Monday, the president said he would try to push a bill through Congress in his final months that would eliminate…

The post In Final Stretch, Mexico’s AMLO Still Trying to Get Rid of Energy Regulators appeared first on Natural Gas Intelligence

Former BP chief executive Bernard Looney will not receive a £32.4m salary and bonuses package after “serious misconduct”. In a press release circulated this evening, the company said: “following careful consideration, the board has concluded that, in p…

The U.S. Energy Information Administration (EIA) is slashing its winter Henry Hub spot price forecast on a combination of elevated production and weak space heating demand for natural gas so far this season. EIA said in its latest Short-Term Energy Outlook (STEO) it now expects the national benchmark to average $2.80/MMBtu this winter, down 60…

The post Stubbornly High Natural Gas Production Prompts EIA to Slash Henry Hub Winter Price Forecast appeared first on Natural Gas Intelligence

A landmark agreement clinched by nearly 200 government ministers is calling for the world to begin slowing down the use of fossil fuels, but they left the door open for “transitional fuels,” such as natural gas, to continue to play a big role in the decades ahead. The 28th Conference of Parties (COP28) to the…

The post ‘Transitional Fuels’ – Like Natural Gas – Key to Achieving Net-Zero Emissions, Say Global Ministers  appeared first on Natural Gas Intelligence

Cenovus Energy, one of Canada’s biggest oil and gas companies, expects to spend more capital next year compared to 2023 to boost upstream production and capture better margins in the downstream segment.   In a corporate update on Thursday, Cenovus Ener…

Global oil demand growth is materially slowing down this quarter compared to the third quarter, the International Energy Agency (IEA) said on Thursday, but at the same time, it lifted its 2024 demand growth projection by around 130,000 barrels per day …

The Federal Reserve has concluded its two-day meeting on Wednesday by leaving interest rates unchanged and signaling strongly that there will be a less hawkish stance next year, with the potential for three rate cuts across 2024. Interest rates were le…

An expected slowdown in China’s uptake and a world that is increasingly moving toward “green” iron ore and steel will be two crucial drivers affecting the future of iron production. This is especially true for Australia, one of the world’s largest mine…

Alberta university researchers are calling for an open public inquiry into a provincial program designed to ensure oilsands producers can pay to clean up after themselves.
They say the agreement at an international climate meeting to transition away …

A German state-owned company has requested from the U.S. Federal Energy Regulatory Commission approval for the construction of Venture Global’s CP2 LNG project. The entity, called SEFE, or Securing Energy for Europe, comprises the assets previously own…

Nymex January natural gas futures deflated further Tuesday amid storage glut woes driven by strong production and the absence of winter weather. At A Glance: January futures down 12.0 cents Cold weather remains elusive Inventory could reach 4 Tcf The front-month contract closed the regular trading session down 12.0 cents at $2.311/MMBtu, reversing steeper losses…

The post Production and Supply Keep Natural Gas Tumbling appeared first on Natural Gas Intelligence

The more than century-long dispute over the resource-rich Essequibo region in Guyana has intensified. Venezuela’s autocratic President Nicolas Maduro asserts, in one of the few issues it agrees on with the opposition, that the 1,450 square mile territo…

The following is from the Alberta Energy Regulator under Bulletin 2023-43. Please link here to the official announcement. Release Date: December 12, 2023 Alberta is experiencing extremely low water levels in many parts of the province due to below-aver…

Crude oil demand growth in India is projected to slow down next year as the post-pandemic rebound begins to lose momentum both in China and India. This is according to Rystad Energy, whose head of oil trading Mukesh Sahdev predicts India’s oil demand g…

Warren Buffett’s Berkshire Hathaway bought close to $590 million worth of Occidental Petroleum stock this week after the latter announced it would acquire Permian oil driller CrownRock. Occidental said it will buy CrownRock for cash and stock in a deal…

Tesla is recalling more than 2 million vehicles fitted with Autopilot systems it has sold in the United States to fix a flaw that may not ensure that drivers pay attention when the driver-assistance system is engaged. The National Highway Traffic Safet…

Arizona Sonoran Copper (TSX:ASCU) recently shared updates on their metallurgical testing from the Nuton Phase 1 column leach program at the Cactus copper porphyry project in Arizona. This testing forms part of the company’s evaluation of new technologies for copper extraction. George Ogilvie, Arizona Sonoran Copper Company President and CEO commented in a press release: “We […]

The post Arizona Sonoran Copper (TSX:ASCU) Reports Results from Phase 1 of Nuton™ Technologies at Cactus Project, Expands Program appeared first on MiningFeeds.

‘It reduces emissions globally, so it’s for the good of everyone’ By Deborah Jaremko Follow CEC on LinkedIn  CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Asia’s demand for liquefied natural gas (L…

There’s been a fresh attack on commercial shipping in the Red Sea on Wednesday, which reportedly resulted in a US warship intervening and firing on an inbound drone believed launched by Yemen’s Houthi rebels. The American warship had responded to repor…

Canada’s first world-scale LNG export facility is expected to deliver its first cargoes in 2025. [Image credit: LNG Canada]

The Iran-aligned Houthi rebels on Wednesday fired two missiles from a territory they hold in Yemen, targeting – but missing – a commercial tanker near the Bab el-Mandeb Strait that was carrying jet fuel from India and was headed toward the Suez Canal v…

Producers and others along the natural gas value chain are apprehensive about the substantial shift in trading momentum this year, but the sector’s price slump is playing an outsized role in drawing down inflation and easing recession worries. The U.S. Department of Labor said Tuesday its Consumer Price Index (CPI) increased at a 3.1% rate…

The post Slumping Natural Gas Prices Further Curb Inflation, Even as Job Growth Endures appeared first on Natural Gas Intelligence

Crude oil prices reversed their decline today, after the U.S. Energy Information Administration reported an estimated inventory draw of 4.3 million barrels for the week to December 8. This compared with a draw of 4.6 million barrels for the previous we…

Terminal could later be converted to accept hydrogen.

OPEC kept on Wednesday its oil demand growth forecasts for this year and next, citing better-than-expected economic performance so far this year and blaming “exaggerated concerns about oil demand growth” for the recent slump in oil prices.     In its c…

OPEC kept on Wednesday its oil demand growth forecasts for this year and next, citing better-than-expected economic performance so far this year and blaming “exaggerated concerns about oil demand growth” for the recent slump in oil prices.     In its c…

As ExxonMobil (NYSE:XOM) moves to expand its trading operations, risk-on traders will be awarded with new cash bonuses starting in December 2024, Bloomberg reports, citing unnamed sources familiar with the structural changes.Exxon will categorize trade…

OPEC kept on Wednesday its oil demand growth forecasts for this year and next, citing better-than-expected economic performance so far this year and blaming “exaggerated concerns about oil demand growth” for the recent slump in oil prices.     In its c…

European Union (EU) member countries may be allowed to ban natural gas pipeline and LNG imports from Russia and Belarus in the near future, potentially increasing tensions with some of the bloc’s largest importers of the super-chilled fuel. A proposed resolution endorsed on Friday by the European Parliament and the EU Council would give member…

The post EU Progresses Plan Allowing Members to Ban Russian LNG, Pipeline Gas Imports appeared first on Natural Gas Intelligence

Sultan Al Jaber, President of COP28, brought down the gavel today on a final agreement of the UN’s two-week climate conclave. The Global Stocktake – the principal document – was adopted by 198 nations. “You have put common interest ahead of self-intere…

Company’s values are shaped by the seven sacred teachings, which guide its approach to business and drive to make a meaningful impact on the lives of others By Will Gibson Follow CEC on Linkedin  CEC Linkedin Follow CEC on Facebook CEC Facebook F…

CALGARY, Alberta–(BUSINESS WIRE)–Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today that it has taken up and paid for 19,108,280 common shares (“Shares”) at a price of $78.50 per Share (the “Purchase Price”) under Imperial’s offer (the…

(Bloomberg) COP28 climate talks in Dubai ended with a nod that lower-carbon fuels like natural gas will play a role in the shift to cleaner energy sources. The summit’s final text recognized that such fuels “can play a role in facilitating the energy t…

(Bloomberg) Climate negotiators in Dubai were huddling early Wednesday on a draft agreement calling on nations to swiftly transition away from using fossil fuels, as they neared the end of talks meant to avert the worst consequences of global warming. …

Banks that lend to U.S. energy companies are forecasting a “slight” increase in natural gas prices from 2024 into 2025, but mild weather and healthy storage levels have left the bears in charge in the near term, according to a survey by Haynes and Boone LLP. Lenders from the 25 banks that responded to the…

The post Energy Lenders Forecasting Natural Gas Storage, Mild Weather to Continue Pressuring U.S. Prices appeared first on Natural Gas Intelligence

(Reuters) – Oil and gas companies operating in Norway are expected to invest 240 billion Norwegian crowns ($21.85 billion) in 2024, up from 220.5 billion in 2023, and more than previously expected, an industry group said on Wednesday. Offshore No…

OPEC’s crude oil production fell in November for the first time in months, while U.S. oil output continued to reach new highs, OPEC said in its monthly report on Wednesday. Total OPEC-13 crude oil production averaged 27.84 million barrels per day (bpd)…

Summary Leaves 2024 oil-demand growth forecast steady OPEC oil output falls by 57,000 bpd in November IEA due to publish updated forecasts on Thursday LONDON, Dec 13 (Reuters) – OPEC on Wednesday said it remained cautiously optimistic about 2024 …

Natural gas futures advanced a few ticks higher early Wednesday as a warm December temperature outlook was seen trending marginally colder overnight. The January Nymex contract was up 0.9 cents to $2.320/MMBtu at around 8:33 a.m. ET. February was trading at $2.252, up 1.2 cents. Both the American and European weather models underwent modest colder…

The post January Natural Gas Called Fractionally Higher as Bearish Weather Headwinds Remain appeared first on Natural Gas Intelligence

Summary Oil prices stable after Tuesday’s drop OPEC maintains cautious optimism for 2024 in latest report U.S. Federal Reserve interest rate decision due Israel to continue war in Gaza despite UN ceasefire resolution LONDON, Dec 13 (Reuters) &#82…

 The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) tightened slightly on Tuesday: * The discount on WCS for January delivery in Hardisty, Alberta, traded between $18.50 and $18.90 …

CALGARY, AB, Dec. 12, 2023 /PRNewswire/ – Vermilion Energy Inc. (“Vermilion”, “We”, “Our”, “Us” or the “Company”) (TSX: VET) (NYSE: VET) is pleased to announce its 2024 budget and updated return of capital framework, including a 20% dividend increase. …

Current crude oil prices appear to be in line with market fundamentals, to the evident frustration of Saudi Arabia and its OPEC+ partners trying to push them higher, which suggests their efforts may be in vain for now. Despite multiple rounds of OPEC+ …

By Selin Oğuz | Graphics/Design: Sam Parker Courtesy of Visual Capitalist – See More From Visual Capitalist HERE Visualized: Global CO2 Emissions Through Time (1950-2022) This was originally posted on the Decarbonization Channel. Subscribe to the …

CALGARY, AB, Dec. 13, 2023 /CNW/ – Bonterra Energy Corp. (TSX: BNE) (“Bonterra” or the “Company”) today announced that the Company’s Board of Directors (the “Board”) has approved its 2024 capital expenditures budget and associated guidance, as detailed…

Ample inventories and muted demand so far this winter heating season have turned portfolio managers bearish on European natural gas for the first time since September and benchmark prices are now down to a four-month low. At the end of last week, hedge…

This discovery marks the third successful well drilled by Perenco UK in its 2023 Southern North Sea (SNS) drilling campaign.

Here’s a quick look at how we’re working with our clients to streamline their Fugitive Emissions Reporting with Muddy Boots. Emissions Reporting in Muddy Boots Pneumatic Devices Wellsite Emission Screening Reports (AVO) Fugitive Emissions Surveys Manag…

  Compass Bending’s core business is pipe bending and coating for pipeline and facility construction projects, but we also supply custom and production bending and rolling services to a great variety of other businesses.  We offer bending up…

The COP28 climate summit, which ran one day into extra time amid heated debates on the future of fossil fuel use and production, ended early on Wednesday with a compromise text referencing for the first time a call to all parties to transition away fro…

Strike has offered Talon shareholders 0.4828 new Strike shares for each Talon share held.

Ample inventories and muted demand so far this winter heating season have turned portfolio managers bearish on European natural gas for the first time since September and benchmark prices are now down to a four-month low. At the end of last week, hedge…

Recent marine research conducted by Australia’s Peak Oil suggests the presence of Exotica North gas prospect, potentially holding 3.6 trillion ft3 of natural gas.

The agreement will support the employment of around 70 Australian resident seafarers on an LNG carrier within Woodside’s chartered fleet.

Oil and gas companies operating in Norway are expected to invest 240 billion Norwegian crowns ($21.85 billion) in 2024, up from 220.5 billion in 2023, and more than previously expected, an industry group said on Wednesday.

The approval paves the way for the next steps in the restructuring process, which includes holding court-convened meetings with the relevant classes of creditors for Sapura and its subsidiaries.