Day: January 17, 2024

Natural gas futures stumbled for a second session Wednesday as an unusually mild late-January weather forecast took center stage, shifting attention away from ongoing supply disruptions and demand spikes from Arctic cold blasts sweeping across the country. At A Glance: Bullish storage print expected  Next week’s forecasts stay warm Freeze-offs keep supply tight Coming off…

The post Natural Gas Futures, Spot Prices Extend Slide As ‘Demand Killer’ Weather Pattern Looms appeared first on Natural Gas Intelligence

The Inflation Reduction Act has incentivized the planning and construction of record-breaking numbers of clean energy capacity installations despite near-term challenges with costs and supply chains.    The IRA has also created a market for tax credits…

The U.S. Environmental Protection Agency (EPA) could introduce new emissions fees for the production of methane in oil and gas projects across the country if approved. This month, the EPA proposed a new rule to encourage clean energy deployment and dec…

Global oil demand is set to rise by 1.2 million barrels per day (bpd) this year compared to 2023, the International Energy Agency (IEA) said on Thursday, raising its 2024 demand growth outlook for a third consecutive month. Although the IEA flagged tod…

The biggest oil companies and the top financial institutions generated combined windfall profits of as much as $424 billion in the two years to June 2023, a report by ActionAid and Oxfam showed this week. ActionAid and Oxfam have looked at the 200 larg…

Pakistan carried out early on Thursday a series of military strikes against terrorist hideouts in Iran’s southeastern province Sistan-Baluchestan, in the latest conflict escalation in the Middle East, two days after Iran targeted with missiles sites li…

Tokyo Institute of Technology scientists report in a new study environmentally benign inverse-perovskites with high energy conversion efficiency have potential for practical application as thermoelectric materials (TEMs). The recent study published in …

Alberta’s oil and gas producers spent nearly $700 million in 2022 on cleaning up the hundreds of thousands of old wells that dot the province, the regulator’s first report on the extent of those liabilities indicates.
That’s 65 per cent more than the…

Teck Resources’ (TSX: TECK.A and TECK.B; NYSE: TECK) Canada’s largest diversified miner, said its 2023 annual production was impacted by challenges across […]
The post Teck misses copper, zinc guidance for 2023, coal production above projections …

Seabridge Gold (TSX: SEA; NYSE: SA) has taken steps to ensure that the environmental permit for its KSM copper-gold project in British […]
The post Seabridge Gold applies to extend KSM environmental permit appeared first on Canadian Mining Journal.

China faced a complex economic landscape as its economy expanded by 5.2% in 2023, while the population saw a decline of 2 million. These contrasting figures underscored the ongoing challenges posed by a slowing property market and demographic pressures…

Although a stranded one, Spain’s natural gas market became a European hub years ago. Since then, the Spanish market has evolved to hold a unique role in the global market, but it’s worth noting that its position was largely carved by how the country adapted to the Great Recession.

The post The Great Recession’s Impact on Spain’s Natural Gas Market Still Ripples Through Global LNG Trade – Column appeared first on Natural Gas Intelligence

CALGARY — CEO pay in the oil and gas sector has soared with the industry’s post-pandemic resurgence and will likely increase even more with the completion of the Trans Mountain pipeline expansion this year, a new report projects.
The report released …

Underground inventories of natural gas, until recently projected to finish winter at historically high levels, are widely expected to drop in coming government readings, a reflection of an extreme weather shift and huge hits to production. Frigid blasts of Arctic air spilled into the Lower 48 late last week and spread across the country. The…

The post Natural Gas Storage Surplus to Dwindle in Wake of Brutal Cold Shots, Production Paralysis appeared first on Natural Gas Intelligence

Defense Metals (TSXV: DEFN; OTCQB: DRMTF) has entered into a co-design agreement with the McLeod Lake Indian Band regarding development of Defense’s […]
The post Defense Metals, McLeod Lake band ink co-design partnership appeared first on Canadia…

Sumitomo Metal Mining Canada is investing about $14.5 million to gain a 9.9% interest in FPX Nickel (TSXV: FPX; OTCQB: FPOCF). Sumitomo […]
The post Sumitomo invests $14.5M for 9.9% of FPX Nickel appeared first on Canadian Mining Journal.

SPC Nickel (TSXV: SPC) released its first resource estimate for the West Graham nickel-copper project in the southwest corner of the Sudbury […]
The post SPC Nickel releases estimate of 224.8M lb. nickel in indicated resource for West Graham appe…

The Leer metallurgical coal mine belonging to Arch Resources (NYSE: ARCH) has achieved Level A verification for all protocols of the Canadian […]
The post Arch’s Leer mine verified for all Towards Sustainable Mining protocols appeared first on Ca…

Via Metal Miner Following a more than 8% month-over-month increase in December, aluminum prices retraced during the first weeks of January, returning to their sideways trend. Markets appeared to shake off alumina supply jitters that saw prices spike at…

NWP Coal Canada, a subsidiary of the Australian coal miner, says the combined environmental impact statement and environmental assessment application (EIS/A) for […]
The post NWP Coal files EIS/A for Crown Mountain in B.C. appeared first on Canad…

Crude oil prices ticked up earlier today following the release of OPEC’s latest monthly report and weather-caused production outages in North Dakota. Still, the price increase was modest, as the American Petroleum Institute estimated a build in oil inv…

Natural gas futures sank below $3.000/MMBtu on Tuesday as markets looked past the immediate brutal cold to an expected warm-up in temperatures next week as indicated by increased confidence in weather models. At A Glance: Prompt-month sinks below $3 Demand hovers around 160 Bcf/d NGI models 165 Bcf draw The February Nymex natural gas futures…

The post Warmer Weather Forecasts Pull Arctic Rug From Under Natural Gas Futures; Cash Prices appeared first on Natural Gas Intelligence

Several European powers are rapidly progressing plans to expand their nuclear energy sectors, despite a lack of support from major EU powers, such as Germany. The U.K. recently announced plans for its biggest nuclear expansion in 70 years, as well as p…

Crude oil inventories in the United States rose this week by 483,000 barrels for the week ending January 12, according to The American Petroleum Institute (API), after analysts predicted a draw of 2.4 million barrels. The API reported a 5.215-million-b…

The Organization of Petroleum Exporting Countries produced more crude oil in December than it had in November, according to the group’s latest edition of its highly anticipated Monthly Oil Market Report. For December, the group produced 26.7 million ba…

Sub-zero temperatures and harsh weather have caused delays and cancelations of LNG export cargos from Louisiana and Texas, Bloomberg has reported, citing unnamed sources in the know. Those told the news outlet that Cameron LNG had canceled at least one…

Saudi Aramco is more than doubling funding to its venture capital arm by injecting an additional $4 billion funding, the Saudi state oil giant said on Wednesday. The fresh funding will raise Aramco’s total investment allocation to its unit Aramco Ventu…

By Niels Veldhuis With a better understanding of the impact of government policies, Canadians will be better able to hold politicians accountable and make informed decisions at the ballot box. With the calendar now turned to 2024, here are 24 facts for…

Mexico Pacific Ltd. LLC (MPL) has signed another long-term agreement to sell an ExxonMobil affiliate more LNG from MPL’s Saguaro Energia export project under development on the country’s west coast.  MPL said Tuesday it would sell 1.2 million metric tons/year (mmty) of the super-chilled fuel from Saguaro’s third liquefaction train to ExxonMobil LNG Asia Pacific…

The post ExxonMobil Agrees to Purchase More LNG From Saguaro Energia Export Project in Mexico appeared first on Natural Gas Intelligence

Natural gas utility Spire Inc. is developing a renewable natural gas (RNG) facility in Kansas City, MO, the first in the area, via a venture with the city’s water utility.  KC Water selected Spire to develop the facility at the Blue River Wastewater Treatment Plant. The upgrade, expected to be completed in 2025, could produce…

The post Spire Tapped to Develop RNG Facility in KC, with St. Louis Project in Works appeared first on Natural Gas Intelligence

Retail gasoline prices in the United States changed course this week—after falling for two consecutive weeks—rising to $3.04 per gallon on Tuesday, according to the latest GasBuddy data. The national average for a gallon of gasoline is still down 1.4 c…

Oil and gas companies operating offshore Norway have set their sights on exploring for natural gas in the Arctic Barents Sea, eager to unlock new supply in light of the strong European demand for non-Russian gas.    Over the next three years, some of t…

Oil and gas companies operating offshore Norway have set their sights on exploring for natural gas in the Arctic Barents Sea, eager to unlock new supply in light of the strong European demand for non-Russian gas.    Over the next three years, some of t…

The Tennessee Valley Authority (TVA) has asked ten million customers to reduce power consumption for Wednesday morning as record heating demand is forecasted amid a cold blast. Power supplies are tightening as demand surges this morning, with heating d…

OPEC may need to cut production further to keep oil prices at current levels in the face of stuttering demand growth and high U.S. output, the CEO of commodities trader Mercuria Energy Group said on Wednesday. U.S. crude production will climb to record…

CALGARY, AB, Jan. 17, 2024 /PRNewswire/ – Today, Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) and FortisBC Energy Inc. (FortisBC) announced funding, with contributions from the British Columbia Ministry of Energy, Mines and Low Carbon…

Victory field will produce 150 million cubic feet per day from mid-decade.

Arya Resources (TSXV:RBZ) has completed the first phase of exploratory drilling at its Dunlop nickel-copper project located approximately 45 km north of La Ronge. The drilling program, conducted between December 7-17, 2023, consisted of 8 drill holes totaling 1,045 meters. The company focused drilling on targets identified at the East Zone of the historic Dunlop […]

The post Arya Resources Completes Initial Drilling and Phase 1 of Drill Program at Dunlop Nickel Project appeared first on MiningFeeds.

Canada’s largest natural gas producer, Tourmaline Oil Corp., said it has increased its exposure to global LNG pricing through two agreements to supply gas to units of commodity trading giant Trafigura Group Pte. Ltd. The first deal is a netback agreement linked to the Japan-Korea Marker (JKM). The deal is based on 62,500 MMBtu/d, or…

The post Canada’s Tourmaline Touts JKM, TTF Exposure in Supply Deals with Trafigura appeared first on Natural Gas Intelligence

There are currently no tankers carrying liquefied natural gas (LNG) left in the Red Sea as shipping firms avoid the region in fear of Houthi rebel attacks. According to an X post this morning by Oeystein Kalleklev, chief executive of LNG shipping firm …

Higher global economic growth and solid activity in China will see robust world oil demand growth of 1.8 million barrels per day (bpd) in 2025, OPEC said on Wednesday in its first outlook into next year’s demand levels. OPEC expects global economic gro…

Growing environmental opposition and political headwinds could combine to be one of this year’s biggest challenges for U.S. LNG projects working to advance. International environmental organizations, along with grassroots groups, social media influencers and some Democrats, are stepping up their efforts to stop the expansion of U.S. gas exports that’s accelerated in recent years.  The…

The post Environmental Groups Target LNG in Election Year, Threatening U.S. Export Buildout appeared first on Natural Gas Intelligence

Shrinking volumes from gassy plays will overshadow higher associated output from the Permian Basin to drive a modest decline in natural gas production from key Lower 48 regions in early 2024, according to the latest modeling from the U.S. Energy Information Administration (EIA). In its updated Drilling Productivity Report (DPR), EIA projected 98.889 Bcf/d of…

The post Permian Partly Offset Natural Gas Production Declines from Gassy Plays in Early 2024, EIA Says appeared first on Natural Gas Intelligence

Natural gas futures continued to crumble in early trading Wednesday as an exceptionally mild late January forecast loomed large, overshadowing supply disruptions and demand impacts from recent frigid conditions across the Lower 48. After collapsing 41.3 cents in Tuesday’s session, the February Nymex contract was down another 10.3 cents to $2.797/MMBtu at around 8:45 a.m.…

The post Natural Gas Continues to Fall from ‘Unsustainable Heights’ on Late January Warmth appeared first on Natural Gas Intelligence

Global prices of gas and liquefied natural gas (LNG) are expected to remain relatively weak in 2024, with demand subdued due to high storage levels in Europe and Asia and a mild Northern Hemisphere winter, consultancy Wood Mackenzie said on Wednesday. …

Summary China Q4 GDP grows 5.2% vs poll’s 5.3% China’s 2023 refinery throughput hits record high Dollar near 1-mth high as Fed rate cut expectations ease (Reuters) – Oil fell more than $1 on Wednesday as economic growth in China, the …

Summary Auchincloss was interim CEO Says he will continue BP’s strategy Shares have underperformed rivals since Looney’s departure (Reuters) – BP  interim boss Murray Auchincloss was named permanent CEO on Wednesday, pledging to stick…

January 17, 2024 / Guanajuato Silver Company Ltd. (the “Company” or “GSilver“) (TSXV:GSVR)(OTCQX:GSVRF) is pleased to announce commencement of a relationship with a Mexican silver mining company to process a portion of its surface inventory of mineralized material at Guanajuato Silver’s wholly owned El Cubo mines complex located in Guanajuato, Mexico. Guanajuato Silver’s Chairman & CEO, James Anderson […]

Summary Nasser says Red Sea attacks may cause tanker shortage Global oil demand to grow by 1.5 mln bpd in 2024 Oil stocks getting depleted as demand grows OPEC’s spare capacity main source to meet demand DAVOS, Switzerland, Jan 17 (Reuters) &#821…

(Reuters) – Environmental campaigners are criticizing Canada’s energy regulator for approving a “variance” request on a section of the Trans Mountain Expansion pipeline project, calling new conditions around material procurement…

Czech power utility CEZ and private equity group CVC Capital Partners are planning to place competing bids next week for Czech gas distribution network GasNet, two sources close to the talks told Reuters.

The Canadian Energy Geoscience Association (CEGA) will be hosting the Energy and Emerging Technology in Geoscience (EETiG) Symposium on February 7-8. This year’s symposium is themed “Adventures in Pore Space: Shared Reservoirs in New Energy”. Hosted at…

“Beyond Protection: Mastering Project Precision” Project Management Solutions Here’s why you want Halo to help you with your projects Dedicated Workforce – Several of our clients simply do not have the manpower or time to coordinate p…

We need to redefine who is an “expert”. Experts cannot only include bureaucrats, politicians, academics, activists, and white-collar corporate elites. We must include the people who do the work to keep society functioning, such as electricians, utility…

Explorer No.1 was constructed by China’s Yantai CIMC Raffles Shipyard. [Image: BYD]

Wood Mackenzie’s report forecasts flat global demand for the coming year.

The company said that the decision follows a competitive search process conducted by the board over the past four months. [Image: BP]

SINGAPORE, Jan 17 (Reuters) – Bangladesh’s Summit Group has signed a preliminary pact to supply 1.5 million metric tons of liquefied natural gas (LNG) per year to state-run Petrobangla for 15 years, starting from October 2026, its chairman, Aziz Khan, told Reuters.
The deal, which Khan expects to be…

Marine biofuel demand at the world’s largest bunker hub Singapore could potentially double by 2025 to almost 1 million metric tons from 2023 levels as shippers seek to cut emissions, a senior TotalEnergies executive said.

LS Power, already a major player in the energy landscape, operates a gas generation fleet exceeding 16 GW across 12 states. [Image: Platinum Equity]