Day: December 20, 2023

CALGARY, AB, Dec. 20, 2023 /CNW/ – The Commission of the Canada Energy Regulator has determined that Trans Mountain did not adequately address concerns about pipeline integrity and related environmental protection impacts in its pipe size variance appl…

Qatar remains by far the biggest exporter of liquefied natural gas (LNG) in the Middle East, and one of the top three in the world, together with the U.S. and Australia. Alongside this, though, since Russia’s invasion of Ukraine on 24 February 2022, it…

Natural gas futures advanced early on Wednesday but flipped negative and descended more as the session wore on, with benign weather demand, robust production and elevated supplies in storage overshadowing export strength. At A Glance: Modest withdrawal expected Production remains elevated LNG activity near record mark Coming off a 1.1-cent loss the prior day, the…

The post Natural Gas Futures Fail to Sustain Modest Momentum Amid Supply/Demand Imbalance; Cash Prices Climb appeared first on Natural Gas Intelligence

Guyana, located on the north-eastern coast of South America, is emerging as a significant economic force. As Statista’s Martin Armstrong reports, according to the International Monetary Fund (IMF), the real GDP of this country with a population of 800,…

The UN-sponsored COP28 climate conference has issued a number of proposals for reducing CO2 emissions, some criticized as too weak, others as too radical. But looking at energy data what struck us is the enormity of that task of reducing carbon emissio…

Mexico could have a good year in 2024 despite a degree of uncertainty in Latin America, according to analysts at New York City-headquartered political risk consultancy Eurasia Group. The analyst team led by Latin America managing director Daniel Kerner highlighted Mexico President Andrés Manuel López Obrador’s high and stable approval ratings, “based on a solid…

The post Mexico Seen Healthy and Bucking 2024 Trend in Politically Troubled Latin America appeared first on Natural Gas Intelligence

Egypt’s LNG exports have bounced back this month after domestic gas shortages and war in Israel have curbed output this year. Kpler data showed this week that Egypt has exported three full cargoes so far this month and a fourth vessel has a port call for Idku on Thursday. One of those cargoes is destined…

The post Egyptian LNG Exports Lifted by Return of Israeli Feed Gas appeared first on Natural Gas Intelligence

A Chinese company, Shipbuilding Industry Corp., is exploring the possibility of building container facilities at the Kazakh port cities of Aktau and Kuryk, according to Kazakhstan’s Ministry of Transport. A ministry statement added that China Railways …

Winter construction presents a unique set of challenges. Harsh and unpredictable conditions can test the resilience and resourcefulness of construction teams and processes. The winter season adds complexity to any project, from costly compaction proble…

Oilfield servicers say consolidation hurts their prospects Executives see crude prices ending 2024 at $78 a barrel By David Wethe Shale bosses are bracing for more megadeals in the US oil industry — and some fear the consequences of consolidation. Exec…

The Spanish market occupies a unique place in the universe of the global natural gas market.

The post Assessing Spain’s Unique Role in Growing Global Natural Gas Market – Column appeared first on Natural Gas Intelligence

The consensus agreement reached in Dubai last week evoked a mixture of triumph and angst. In the world’s warmest year on record, the world’s nations for the first time agreed to ‘transition away’ from fossil fuels. But the path to transition looks to b…

RALEIGH, N.C. (AP) — The builders of a proposed natural gas pipeline that will enter North Carolina from Virginia now have another 2 1/2 years to complete the project after federal regulators pushed back a deadline for the work.
The Fed…

China is prohibiting the export of some technologies to process rare earth elements to protect its national security as the race for critical minerals supply intensifies.   China’s Commerce Ministry banned on Thursday the export of technology to extrac…

Angola is leaving OPEC, Angolan news agency ANGOP reported on Thursday, quoting the African producer’s oil minister Diamantino de Azevedo. The decision was taken at a meeting of the Council of Ministers, led by the President of the Republic, João Loure…

The latest Gulf of Mexico lease sale raised $382 million in high bids, which made it the largest lease sale for the last eight years, according to Reuters. The highest bidder in the tender was Anadarko, which offered $25 million for the exploration rig…

January Nymex natural gas futures’ four-day winning streak ended Tuesday in losses driven by revised weather outlooks that erased some cooler, supportive weather from forecasts. The front-month contract settled at $2.492/MMBtu, off 1.1 cents day/day. February futures closed at $2.366, off 5.0 cents. NGI’s Spot National Avg. was down 15.0 cents at $2.405. Notably, the…

The post January Natural Gas Rally Ends as Revised Weather Outlooks Deflate Demand Hopes appeared first on Natural Gas Intelligence

Researchers from Chalmers University of Technology in Sweden have shown that the sodium-ion battery has an equivalent climate impact as their lithium-ion competitors – without the risk of running out of raw materials. The transition to a society withou…

Chinese lenders arranged three-fourths of all the $120 billion in global financing for coal projects last year, new research from BloombergNEF showed on Wednesday. Chinese banks accounted for a massive 76%, or $93 billion, of the arranged financing for…

Oil and natural gas activity across the most prolific area of the Lower 48 in Louisiana, New Mexico and Texas moderated in the final three months of the year, as natural gas production edged up slightly and oil output slowed down. The fourth quarter Dallas Fed Energy Survey, conducted by the Federal Reserve Bank’s Eleventh…

The post U.S. E&P, OFS Executives Expect Uncertainty Ahead, with Henry Hub Seen Averaging $3.09 by End of 2024 appeared first on Natural Gas Intelligence

It’s now widely perceived that Turkey will continue holding up final formal approval for Sweden’s entry into NATO as retaliation for the West’s support for Israel as it continues assaulting Gaza. Turkish President Recep Tayyip Erdogan added further ite…

Eni has agreed to sell a 9% stake in its low-carbon energy unit Plenitude which values the business at around $11 billion (10 billion euros), the Italian energy major said on Thursday.   Plenitude is active in the market of power generation including r…

Crude oil production growth in the U.S. slowed down significantly in the fourth quarter of the year from the prior three months, although natural gas production continued up. According to the Dallas Fed Energy Survey, the production index for the indus…

Nigeria is reducing the costs for oil companies willing to sign new production contracts as OPEC’s largest African producer looks to attract firms in its oil and gas industry again, the head of the oil regulator told Bloomberg in an interview published…

Nearly five million barrels of Sokol grade crude oil from Russia is languishing en route to Indian refiners, caught in a sanctions trap for a month, Bloomberg News reported on Wednesday.  According to Bloomberg, citing tanker tracker data, one tanker, …

The European Union approved on Thursday a proposal to delay a 10% tariff on electric vehicles in trade with the UK until December 2026 from an original date of entry into force on January 1, 2024. The delay of the tariff by three years will give EV man…

Crude oil prices moved lower today after the U.S. Energy Information Administration reported an estimated inventory increase of 2.9 million barrels for the week to December 15. This followed a weekly inventory decline of 4.3 million barrels for the pre…

Currency: CAD unless otherwise stated CALGARY, AB, Dec. 20, 2023 /CNW/ – Today, Canada Growth Fund Inc. (“CGF”) and Advantage Energy Ltd. (TSX: AAV) (“Advantage”) announced that CGF has entered into a strategic investment agreement with Entropy Inc. (“…

Oil prices have spiked and could remain elevated as companies try and find alternative cargo routes following vessel attacks in the Red Sea. International benchmark Brent crude has shot up to $79.35/bbl as of this morning, having opened on Monday at $7…

In recent years, the conventional Mannville oil play around Lloydminster and Cold Lake has witnessed a surge in activity and production. Termed an “emerging hot spot” for Canadian drillers by Bloomberg[1] , the play is cheap to develop with low associa…

Chinese lenders arranged three-fourths of all the $120 billion in global financing for coal projects last year, new research from BloombergNEF showed on Wednesday. Chinese banks accounted for a massive 76%, or $93 billion, of the arranged financing for…

While a stream of LNG cargoes is largely helping Europe maintain its tight natural gas supply balance, the region’s largest gas user, Germany, is increasing its reliance on Norwegian pipeline flows to fuel its industry until an alternative fuel market emerges. Norway’s Equinor ASA has signed a letter of intent to supply German industrial gas…

The post Equinor Nets Massive Natural Gas Supply Agreement with Germany’s Sefe appeared first on Natural Gas Intelligence

Pennsylvania collected $174 million in impact fees from unconventional natural gas producers in 2023, a decrease from previous years because of lower natural gas prices and fewer wells, according to an estimate from the state’s Independent Fiscal Office (IFO).  The IFO last week issued the 2023 Impact Fee Estimate, which relies on preliminary natural gas…

The post Pennsylvania Impact Fee Revenue Tumbles $105M in 2023 on Lower Natural Gas Prices appeared first on Natural Gas Intelligence

Natural gas futures probed modestly higher early Wednesday as the prospect of a somewhat chillier start to 2024 — especially compared to mild December temperatures — supported prices at the front of the curve. The January Nymex contract was up 2.8 cents to $2.520/MMBtu at around 8:45 a.m. ET.  In Tuesday’s session, the January contract…

The post January Natural Gas Inches Higher as Weather-Driven Demand Seen Strengthening into New Year appeared first on Natural Gas Intelligence

Western sanctions on the Russian oil and gas sector and entities have not yet been as functional as expected by most. Still, Moscow’s energy stranglehold on Europe’s energy sectors has been broken by Western actions. Until now, Russian President Vladim…

The Trudeau government  unveiled regulations meant to phaseout the sale of new internal combustion vehicles and compel Canadians to buy zero-emission vehicles. The Biden administration is also mandating a similar shift. But these initiatives overlook t…

The Texas electric grid is too dependent on natural gas-fired backup power generators after blackouts, U.S. regulators found on Tuesday in a study that also called for gas suppliers and electric utilities to sync their plans to recover from outages.

U.S. launches Red Sea force as ships reroute to avoid attacks LONDON, Dec 19 (Reuters) – Several shipping companies and a few liquefied natural gas (LNG) tankers have decided to avoid the world’s main East-West trade route, following attack…

(Reuters) – Global oil benchmark Brent topped $80 a barrel on Wednesday amid jitters over global trade disruption and geopolitical tensions in the Middle East following attacks on ships by Yemen’s Iran-aligned Houthi forces in the Red Sea. …

China could see its oil production growth taper off in the coming years as the recent new discoveries could prove challenging to develop while output at mature fields declines, according to analysts and forecasters.    Since 2019, China has boosted its…

CALGARY, AB, Dec. 19, 2023 /CNW/ – Today, the Commission of the Canada Energy Regulator (CER) approved the Trans-Northern Pipelines Inc. (TNPI) Incentive Tolls Settlement Agreement (ITSA). This decision [Filing C27751] allows TNPI to implement a new to…

The decision is attributed to a decrease in power demand in Japan.

Foam blocks for pipe supports and pillows designed for high compressive strength and resistance to deterioration. PROBLEM Supporting the pipeline in the trench can be a labor intensive task when using sandbags. Especially when done in the winter months…

We at Stress Engineering Services Canada (SESC) are known for our technical expertise. In line with our steadfast commitment to technical excellence and delivering exceptional service to our valued clients, we are delighted to introduce Roger Chen. Rog…

The cost of Japanese LNG imports last month decreased by 34.1% year/year.

By Yogi Schulz Here’s the link to my IT blog at IT World Canada Time-challenged executives who’ve been assigned or perhaps coerced to accept the project sponsor role need help. Too often, project sponsors: Do not understand their essential role. Are un…

Norway’s natural gas output rose in November, beating an official forecast, while crude oil production lagged expectations, the Norwegian Petroleum Directorate (NPD) said on Wednesday.

Officials must see sustained easing of core inflation first Comments among his first outlining a rough timeline for cuts Bank of Canada Governor Tiff Macklem said he expects to start cutting interest rates next year but needs to see several months of s…

Athabasca and Cenovus combine Kaybob assets to create pure-play Duvernay entity Exposure to ~200,000 gross acres including a newly operated 100% WI position of ~46,000 acres Leverages significant prior de-risking activity to date on Athabasca’s Duverna…

Adnoc plans to supply LNG from the proposed Ruwais LNG project to China’s ENN. [Image: Adnoc]

Mexico emitted “extreme” amounts of methane from a natural gas pipeline running through its northern border state Durango in 2019, a research paper published on Tuesday showed, citing data collected from satellites.

The contract has been awarded to Mexican firm Eseasa Offshore.

Petronas Suriname E&P, a subsidiary of Petronas, emerged successfully in securing Blocks 63 and 64 during the Suriname Demerara Bid Round 2022-2023 held in June of this year.

Two Western companies – Germany’s Wintershall Des and Austria’s OMV – are to formally lose their shares in gas extraction projects in Russia’s Arctic, according to presidential decrees.

This new discovery is the second consecutive successful well for Mubadala in the Andaman area.

Diesel and other distillate inventories are higher now than they were this time last year, suggesting that a tight global diesel market has started to ease, in part due to slowing construction and manufacturing activity in the United States and major E…

Record-high crude oil production is driving a record in crude oil exports, too, as traders rush to rid themselves of inventory that they would otherwise have to pay taxes on. Reuters reported this week that average crude oil shipments abroad from the G…