Day: January 3, 2024

U.S. and European equity markets have kicked off the new year on the backfoot, with both pulling back slightly on the second trading day of 2024 from 2023 record high closes.  The S&P 500 was down 60 points to 4,714 from its 2023 close at 1130 hrs ET o…

Natural gas futures found firmer footing Wednesday as looming winter weather trumped vigorous production volumes and expectations for another government report showing stout supplies in storage. At A Glance: Lean storage draw expected Mid-January freeze looms Production remains elevated Following a 5.4-cent gain to open regular trading for 2024 the day before, the February Nymex…

The post February Natural Gas Futures Mount Momentum, Rally Second Day; Spot Prices Spike appeared first on Natural Gas Intelligence

Via Metal Miner   Neither China nor rising global steel player Vietnam had a very good 2023 due to fluctuating steel prices and demand. Like some other steel-producing countries, both have primarily resorted to flooding foreign markets with cheap steel…

Germany imported the equivalent of 968 terawatt hours (TWh) of natural gas in 2023, down by 32.6% from the 1.437 TWh imports in 2022, as consumption also dropped, the country’s energy regulator Bundesnetzagentur said on Thursday.   Norway was Germany’s…

Short sellers have raised their positions on BYD, China’s—and the world’s—largest manufacturer of electric vehicles amid expectations of weakening sales. BYD recently dethroned Tesla from the top spot among global EV sellers after it closed the final q…

Spain’s Iberdrola SA has started operations at the 766 MW Topolobampo III natural gas-fired combined cycle plant in Mexico’s Sinaloa state. Iberdrola executives called the power plant a “highly efficient, digitally enabled, combined-cycle power plant, which aims to support Mexico’s renewable-rich grid and further renewable growth in the country.” The plant uses U.S. firm GE…

The post Iberdrola Brings 766 MW of Natural Gas-Fired Power Online in Mexico’s Sinaloa State appeared first on Natural Gas Intelligence

The UK’s manufacturing sector fell deeper into contraction in December, while business optimism fell to its lowest level in a year, a closely watched survey suggested. S&P’s global UK manufacturing Purchasing Managers’ Index (PMI) slipped back to 46.2 …

APA Corporation will buy Permian oil and gas producer Callon Petroleum Company in an all-stock transaction valued at around $4.5 billion, including Callon’s net debt, as the merger and acquisition activity in the U.S. shale patch continues.  Callon’s a…

Short sellers have raised their positions on BYD, China’s—and the world’s—largest manufacturer of electric vehicles amid expectations of weakening sales. BYD recently dethroned Tesla from the top spot among global EV sellers after it closed the final q…

For Chinese Ambassador to the EU Fu Cong, the Israel-Hamas war laid bare the West’s double standards and how Beijing sees it falling out of touch with the rest of the world. Speaking in Brussels in mid-November, shortly after the October 7 outbreak of …

A 7.6-magnitude earthquake that hit western Japan continued to have little impact on the country’s natural gas demand and Asian natural gas prices on Wednesday. Two coal-fired power plants were closed and some gas-fired generation had been reduced in the Noto region after the quake hit Monday. The Naoetsu LNG import facility was briefly shut…

The post JKM Prices Continue Decline Despite Earthquake in Japan appeared first on Natural Gas Intelligence

The energy and mining sectors are set to drive a rebound in Canada’s mergers and acquisitions (M&A) activity in 2024 after a lackluster 2023 in which rising interest rates hampered deal-making, banking industry executives told Reuters.  Last year, deal…

The Department of Energy’s Office of Petroleum Reserves has announced a solicitation for the purchase of up to 3 million barrels of crude oil for the nation’s Strategic Petroleum Reserves (SPR), the agency said in a Wednesday press release. The solicit…

The Department of Energy’s Office of Petroleum Reserves has announced a solicitation for the purchase of up to 3 million barrels of crude oil for the nation’s Strategic Petroleum Reserves (SPR), the agency said in a Wednesday press release. The solicit…

Ruhr-University Bochum researchers are constantly pushing the limits of technology by breaking new ground in CO2 conversion. The goal is to turn the harmful greenhouse gas into a valuable resource. A novel catalyst system could help reach the CO2 recyc…

Shell plc is looking to intervene in a complaint against Venture Global LNG Inc. one of its fellow contract holders, BP plc, filed with FERC late last year. In December, BP filed a request with the Federal Energy Regulatory Commission requesting it compel Virginia-based Venture Global to release confidential information about the extended commissioning process…

The post Shell Looks to Join BP’s Push for Calcasieu Pass LNG Commissioning Probe appeared first on Natural Gas Intelligence

Natural gas futures kicked off 2024 trading on Tuesday in rally mode, supported by forecasts for stronger heating demand and steady calls for U.S. LNG, though gains were held in check by stout supply. At A Glance: Frosty air on the horizon Production stays strong NGI models 40 Bcf draw Coming off a 4.3-cent decline…

The post As Frigid Air Nears, February Natural Gas Futures Forge Ahead appeared first on Natural Gas Intelligence

When Argentine libertarian Javier Milei made his debut into politics in 2020 with a mission to”blow up” the system, few predicted that he would have a chance to do the shake-up from the highest office in the land and, not certainly, just three years la…

The share of renewables on Germany’s power grids rose by 6.6 percentage points to 55% of the total last year, the sector’s regulator said on Wednesday, as Europe’s largest economy moves closer to its 2030 target.

Via Metal Miner   Turkish longs and flats producer Haba? recently announced plans to build a downstream cold rolling and tinplate mill. The growing Turkish steel industry brand estimates that the plant will have an annual capacity of 900,000 metric ton…

Ascot Resources (TSX:AOT) has reported the final set of assay results from its 2023 exploration drill program. This program was conducted at the company’s Premier Gold Project, which is situated on the Nisga’a Nation Treaty Lands within the Golden Triangle area of northwestern British Columbia, known for its mineral wealth. The announcement specifically relates to […]

The post Ascot Resources (TSX:AOT) Reports Final 2023 Drill Results from Premier Gold Project, Advancing Exploration at Big Missouri Deposit appeared first on MiningFeeds.

The Department of Energy’s Office of Petroleum Reserves has announced a solicitation for the purchase of up to 3 million barrels of crude oil for the nation’s Strategic Petroleum Reserves (SPR), the agency said in a Wednesday press release. The solicit…

Petronet LNG, the largest natural gas importer in India, expects to sign later this month an agreement to extend its LNG supply deal with Qatar beyond 2028, India’s Oil Secretary Pankaj Jain said on Wednesday. “We are pretty close to signing the deal,”…

For the first time ever, BYD has passed Tesla as the world’s most popular electric vehicle. As we noted moments ago, Tesla announced this morning it had “produced approximately 495,000 vehicles and delivered over 484,000 vehicles” for Q4. The company n…

Petronet LNG, the largest natural gas importer in India, expects to sign later this month an agreement to extend its LNG supply deal with Qatar beyond 2028, India’s Oil Secretary Pankaj Jain said on Wednesday. “We are pretty close to signing the deal,”…

Oil prices started the new year trading 2% higher in Asia amid increased tensions in the Red Sea after Iran said it had deployed a warship in the Red Sea.  Yet, oil and natural gas prices have been subdued for most of the time since the Hamas-Israel wa…

India’s lower imports of Russian crude oil in recent weeks were the result of unattractive discounts, not because of payment issues amid tougher U.S. sanctions on Russia’s exports, Indian Oil Minister Hardeep Singh Puri said on Wednesday.   “There is n…

Chevron Corp.’s upstream oil and natural gas assets are set to take a big one-time hit in the fourth quarter results, primarily because of “continuing regulatory challenges” in California, where the integrated major is headquartered.  The San Ramon-based producer on Tuesday detailed the upstream impairments in a Securities and Exchange Commission Form 8-K filing.  The…

The post Chevron Warns of $3.5-4B in 4Q Upstream Impairments, Mostly California, GOM Assets  appeared first on Natural Gas Intelligence

Record production, stout storage and seasonally soft weather-driven demand consistently put downward pressure on natural gas prices in 2023. Analysts expect 2024 to develop into a sequel – barring a sharp reduction in output or an exceptionally hot summer.   The January natural gas futures contract rolled off the books in the final week of 2023…

The post Could All-Time High Production, Abundant Supplies Restrain 2024 Natural Gas Prices?   appeared first on Natural Gas Intelligence

With the January temperature outlook remaining supportive, especially coming off a mild December, natural gas futures pushed higher in early trading Wednesday. The February Nymex contract was up 3.7 cents to $2.605/MMBtu at around 8:41 a.m. ET. The front month probed as high as $2.675 Tuesday before ultimately fading to settle at $2.568.  Recent price…

The post February Natural Gas Called Higher as Early 2024 Cold Remains Supportive appeared first on Natural Gas Intelligence

German utility RWE on Jan. 1 handed over floating liquefied natural gas (LNG) infrastructure at Brunsbuettel on the North Sea to state-owned Deutsche Energy Terminal (DET) as agreed when first imports arrived 10 months ago, it said.

Russian energy giant Gazprom said on Wednesday it set a new daily record the previous day for gas supplies to China through the Power of Siberia pipeline.

Summary Slew of U.S. economic data expected on Wednesday Fed minutes due at 1900 GMT Israel intensifies bombing in Gaza after killing of Hamas leader Jan 3 (Reuters) – Oil prices dipped slightly on Wednesday after sharp moves earlier in the week,…

Calgary, Alberta–(Newsfile Corp. – January 3, 2024) – Suncor (TSX: SU) (NYSE: SU) today provided an operational update for the fourth quarter of 2023, highlighting upstream production of 808,000 barrels per day (bbls/d), the second hi…

Italy’s government is discussing a plan worth $1 billion (930 million euros) to incentivize purchases of electric vehicles as part of efforts to renew one of Europe’s oldest auto fleets, Bloomberg reported on Wednesday, quoting a draft document it has …

Crude oil prices have been trading in a tight range since the start of the New Year as geopolitical tensions in the Middle East counter now chronic economic concern. Still, benchmarks booked a decline in the first trading day of the new year as worry a…

2023 was a year of record highs and record lows in the global energy sector.

(Reuters) – OPEC+ plans to hold a meeting of its Joint Ministerial Monitoring Committee (JMMC) in early February, though an exact date has not been decided, three sources from the alliance said. OPEC+, which comprises the Organization of the Petr…

U.S. liquefied natural gas exports hit monthly and annual record highs in December, tanker tracking data showed, with analysts saying it positioned the United States to leapfrog Qatar and Australia to become the largest exporter of LNG in 2023. The U.S…

Renewable energy accounted for 55% of electricity transported on German networks in 2023, taking the country closer to its climate targets, the energy regulator said on Wednesday.

Natural gas supplies to Europe by Russian energy giant Gazprom were down 55.6% to 28.3 billion cubic metres (bcm) in 2023, Reuters calculations showed on Tuesday.

Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power shortages in over a decade and slash rising generation costs.

Canadian Press OTTAWA — Canada’s price on pollution is supposed to help battle global warming, but as it nears its fifth anniversary, nothing in Canadian politics is hotter. Conservative Leader Pierre Poilievre has so successfully convinced Canadians t…

A Great Event to Sponsor & Attend! WHEN: Date: Friday, February 16, 2024 Doors Open: 11:00 AM Buffet Lunch Commences: 11:00 AM Program Commences: 12:00 PM Approximate Length: 2 Hours WHERE: Location: Calgary Petroleum Club 319-5th Ave S.W. Calgary,…

 The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) was little changed on Tuesday, the first day of the monthly trading cycle: * The discount on WCS for February delivery in Hardist…

Russian exports of liquefied natural gas (LNG) to Europe fell 1.9% to 15.8 million metric tons in 2023, and LNG exports to Asia fell 11% to 14.9 million tons, LSEG data showed on Tuesday.

The move follows Strike achieving a maximum capacity of 33 terajoules/day and 265 barrels/day of condensate at at its Walyering gas field in Western Australia

The last couple of years have seen a series of extraordinary events, most notably the invasion of Ukraine by Russia on 24 February 2022 and the Hamas attacks on Israel on 7 October 2023. This year may well see more equally extraordinary things, with th…

Iraq has potentially huge gas reserves but its failure so far to properly develop them has led to three key problems for itself and the global energy markets. First, it has left the country dependent on neighbouring Iran for up to 40 percent of its ene…