Day: February 13, 2024

March Nymex natural gas futures searched for a bottom but had more downside on Tuesday, sinking another 7.9 cents, strangled by a healthy supply of natural gas and no significant demand for it. At A Glance: Futures sink 7.9 cents More downside expected Cash markets retreat The prompt-month contract settled at $1.689/MMBtu, off the $1.654…

The post Natural Gas Futures Continue to Search for Bottom, Cash Prices Mostly Down  appeared first on Natural Gas Intelligence

Since Russia invaded Ukraine on 24 February 2022, liquefied natural gas (LNG) has become the world’s key emergency energy supply. It does not require the years of planning and construction as pipelined gas and oil, and it can either be secured readily …

China is far outpacing the rest of the world in terms of new clean energy capacity additions, but it’s powering all that expansion with the dirtiest fossil fuel. As China’s clean energy production potential balloons, the nation’s carbon efficiency is m…

Natural gas pipeline explodes near southwestern Iranian city, with no reported casualties. Iran’s oil minister suggests the blast was the result of sabotage. Tensions escalate in the region amid accusations and counter-accusations between Iran and othe…

Authored by Mike Shedlock via MishTalk.com, The US wants to break into the solar panel business. Doing so, if its possible at all, means costs of the solar panels and electricity will surge… China’s Grip on Solar The Wall Street Journal asks Can the …

Chesapeake Energy Corp. has signed its first binding agreement to buy LNG as it advances a strategy unveiled two years ago to gain exposure to the international gas market. The company said it has signed a sales and purchase agreement (SPA) to buy 0.5 million metric tons/year (mmty) of the super-chilled fuel from the proposed…

The post Chesapeake Inks First SPA to Buy Volumes From Delfin LNG Project appeared first on Natural Gas Intelligence

Norway’s Equinor ASA expects the Biden administration’s pause of natural gas export authorizations to delay some massive additions to U.S. LNG capacity expected at the end of the decade, but the overall impact could help avoid market oversupply. During the company’s recent fourth quarter earnings call with analysts, Irene Rummelhoff, executive vice president for marketing,…

The post U.S. LNG Pause Could Help Balance Future Global Natural Gas Prices, Equinor Says appeared first on Natural Gas Intelligence

Former President—and current Presidential candidate—Donald Trump—won’t be able to stand in the way of the Energy Transition, John Kerry said on Tuesday at the International Energy Agency ministerial meeting. The U.S. Special Presidential Envoy for Clim…

Countries in southeastern and central Europe have begun working together to create a new gas transit route to help compensate for the loss of Russian gas exports to Europe following Russia’s invasion of Ukraine. If realized, the “Vertical Corridor” wou…

Throughout the administration of Mexican President Andrés Manuel López Obrador, a main grievance of energy sector members has centered on the inability to obtain proper permitting to continue or complete projects, such as natural gas pipelines or power plants, in a timely fashion.  Much of the delays had to do with López Obrador’s dramatic overhaul…

The post Permitting Cited as Chief Obstacle to Mexico Natural Gas Projects  appeared first on Natural Gas Intelligence

Study found carbon fibre made from oil sands bitumen has 69 per cent lower emissions than conventional sources By Will Gibson and Deborah Jaremko Bryan Helfenbaum, associate vice-president of clean energy with Alberta Innovates, holds a hockey stick ma…

Via Metal Miner   The downtrend for nickel prices showed signs of exhaustion, with significant potential to impact stainless steel prices. Nickel moved sideways throughout January with a modest 1.60% decline. While directional momentum remained slow, p…

National Grid plc has asked Massachusetts regulators to approve a deal with Constellation Energy Corp. that could keep the Everett LNG terminal open to serve almost one million East Coast natural gas customers during periods of peak demand. With its 1,400 MW Mystic Generating Station slated for retirement later in the year, Constellation has said…

The post National Grid Seeks to Keep Everett LNG Open Through the Decade as East Coast Supply Safeguard appeared first on Natural Gas Intelligence

OTTAWA, ON: The Canadian Taxpayers Federation is calling on members of Parliament to pass the original Bill C-234 following Parliamentary Budget Officer reports showing the Senate’s amendments would cost farmers $910 million by 2030. “Making it more af…

Big Gold (CSE: BG) is retesting historic core from the Tabor property in the heart of the Shebandowan Greenstone Belt, northwest of […]
The post Big Gold samples historic core from Tabor property, assays 1.5 metres of 10.9 g/t gold appeared first…

Defense Metals (TSXV: DEFN; OTCQB: DFMTF) says metallurgical testing of samples from its Wicheeda rare earth project in British Columbia has shown […]
The post Defense Metals testing makes 50% TREO concentrates with 80% recovery appeared first on…

Electra Battery Materials (TSXV: ELBM; NASDAQ: ELBM) has received a $5 million grant for the Canadian government towards the construction of North […]
The post Electra given $5M federal grant to support EV supply chain appeared first on Canadian …

Teck Resources  (TSX: TECK.A and TECK.B; NYSE: TECK) says its Red Dog operations has been awarded the Zinc Mark in recognition of […]
The post Teck’s Red Dog mine in Alaska earns Zinc Mark for ESG appeared first on Canadian Mining Journal.

World oil demand next year is expected to increase by 1.8 million barrels per day, OPEC said in its latest Monthly Oil Market Report released on Tuesday. OPEC sees the demand for crude oil rising by 1.8 million bpd to 106.2 million barrels per day next…

Exyn Technologies, a pioneer in autonomous robotics, today announced the launch of Exyn Nexys, a revolutionary modular 3D mapping solution. Designed for […]
The post Exyn unveils Nexys, modular 3D mapping for complex environments appeared first o…

Equity markets got caught off guard by higher-than-expected U.S. inflation figures, but crude prices have shown resilience. US Natural Gas Prices Collapse on Milder Weather and Robust Output – US natural gas prices hit a 40-month low last week at just …

Rutherford, NJ, Feb. 13, 2024 — Glucotrack, Inc. (Nasdaq: GCTK) (“Glucotrack” or the “Company”), a medical device company focused on the design, development, and commercialization of novel technologies for people with diabetes announced today that Luis Malavé has been elected as Chairman of its Board of Directors, effective immediately. “I can think of no better […]

OPEC’s crude oil production slumped by 350,000 barrels per day (bpd) in January as the latest voluntary output cuts kicked in, but not all those who had pledged reductions delivered on their promises.   As OPEC’s crude oil production from all 12 member…

OPEC’s crude oil production slumped by 350,000 barrels per day (bpd) in January as the latest voluntary output cuts kicked in, but not all those who had pledged reductions delivered on their promises.   As OPEC’s crude oil production from all 12 member…

OPEC’s crude oil production slumped by 350,000 barrels per day (bpd) in January as the latest voluntary output cuts kicked in, but not all those who had pledged reductions delivered on their promises.   As OPEC’s crude oil production from all 12 member…

Crude oil inventories in the United States rose by 8.52 million barrels for the week ending February 9, according to The American Petroleum Institute (API), after analysts predicted a build of 2.6 million barrels. The API reported a 674,000-barrel rise…

Former President—and current Presidential candidate—Donald Trump—won’t be able to stand in the way of the Energy Transition, John Kerry said on Tuesday at the International Energy Agency ministerial meeting. The U.S. Special Presidential Envoy for Clim…

Tristan Pascall sees an opportunity to discuss the company’s contribution to Panama’s economy ahead of the May election.
The post First Quantum CEO: Panama’s next government cannot ignore mining sector appeared first on Canadian Mining Journal.

The power outage that took BP’s refinery in Whiting, Indiana, offline for at least three weeks has delayed a potential price jump by dampening demand expectations in the immediate term. The 400,000-bpd facility is the largest refinery in the Midwest—an…

Two-thirds through winter heating season, NW Europe gas stocks remain at record levels.

Carbon capture has failed for decades and policymakers need real solutions to emissions reductions, not a “complete falsehood” such as CCS, according to Andrew Forrest, the Australian billionaire who is the founder of iron ore producer Fortescue Metals…

Carbon capture has failed for decades and policymakers need real solutions to emissions reductions, not a “complete falsehood” such as CCS, according to Andrew Forrest, the Australian billionaire who is the founder of iron ore producer Fortescue Metals…

Bitcoin has surged past the $50,000 mark, marking its highest level since 2021. This surge highlights a significant shift in investor interest, largely attributed to the introduction of mainstream bitcoin investment funds. The cryptocurrency market has…

Alaska Energy Metals (TSXV:AEMC) announced on Monday that its Eureka deposit at the Nikolai project in Alaska now contains one of the largest known nickel resources in the United States with contained nickel at the project at 8 billion lbs. The company published an updated mineral resource estimate showing 813 million tonnes of indicated resources […]

The post Alaska Energy Metals (TSXV:AEMC) Releases Significant Resource Update for Nikolai Nickel Project appeared first on MiningFeeds.

France is reducing bonuses for electric vehicle (EV) purchases for the wealthier half of households as it looks to rein in spending and keep incentives for the lower-income buyers.   In a decree on Tuesday, France cuts the so-called ecological bonus fo…

Since the first quarter of 2021, Prospera Energy has implemented extensive restructuring measures with a clear focus on profitable development steps in order to generate significant value for its investors. The production rates achieved, as well as the improved profitability, are the result of a systematic approach and a clear vision for the Company’s future. […]

Click here to listen to the latest episode of NGI’s Hub & Flow podcast. Flex LNG CEO Oystein Kalleklev joins NGI’s Senior LNG Editor Jamison Cocklin to discuss attacks on commercial vessels in the Red Sea and how the security situation is impacting the global natural gas market.  Flex owns a fleet of LNG carriers.…

The post Global Natural Gas Market Unfazed by Red Sea Attacks as LNG Shippers Adapt – Listen Now to NGI’s Hub & Flow appeared first on Natural Gas Intelligence

Last year, when the full extent of the unprecedented consolidation wave in the shale sector gradually became apparent, we speculated that when it’s all said and done, US energy companies would have more production discipline than the OPEC+ cartel, and …

Mostly benign winter weather, robust U.S. production and ample imports of Canadian supply put Pacific region natural gas storage levels far above historical norms early in 2024, keeping prices in check. The U.S. Energy Information Administration (EIA) most recently printed a national storage withdrawal of 75 Bcf for the week ended Feb. 2. It paled…

The post Stout Pacific Storage, Steady Canadian Imports Restrain Western Natural Gas Prices appeared first on Natural Gas Intelligence

Japan’s biggest oil and gas explorer Inpex Corp 1605.T on Tuesday reported a 19.4% drop in 2023 net profit due to lower prices of oil and natural gas and a hefty impairment loss on its Prelude liquefied natural gas (LNG) project in Australia.

Natural gas futures extended losses into a fifth consecutive session Monday as fundamental support continued to evade, leaving little for the market to latch onto to drive March Nymex natural gas out of the basement and off more than three-year lows. At A Glance: Futures tank 7.9 cents  Bearish market drivers West Texas cash down …

The post March Natural Gas Extends Losses as ‘Search of Bullish Catalysts’ Continues; Cash Gains appeared first on Natural Gas Intelligence

Growth in the Permian Basin, countered by declines in Appalachia and the Haynesville Shale, will see combined natural gas production from key Lower 48 regions hold steady at just over 100 Bcf/d in March, according to the U.S. Energy Information Administration (EIA). Total production from seven major Lower 48 producing regions — a list that…

The post Declines from NatGas Plays, Permian Gains to Hold Production Flat in March, EIA Says appeared first on Natural Gas Intelligence

Natural gas futures continued to grind lower early Tuesday as uncooperative forecasts pointed to more struggles ahead for a market trying to manage excess supply.  After shedding 7.9 cents on Monday, the March Nymex contract was off another 0.8 cents to $1.760/MMBtu as of 8:46 a.m. ET. Recent price action reflects a market attempting to…

The post Natural Gas Futures in ‘Downward Spiral’ as Forecast Warms appeared first on Natural Gas Intelligence

U.S. GoldMining Inc.  (NASDAQ: USGO)  hopes to grow the value of the Whistler gold-copper project in south-central Alaska with more high-grade results […]
The post JV Video: U.S. GoldMining revives Whistler project in Alaska with long, high-grade…

Bloomberg Drilling for deals The oil and gas sector has been one of the few in which you haven’t had to drill too deep for good M&A news during the global deals slump. Whether you’re looking over three, six or 12-month periods, year-on-year increas…

The proposed acquisition encompasses Woodside’s stakes in the Macedon gas field and a group of producing oil fields collectively known as the Pyrenees Area.

(Reuters) – An Indigenous community in Alberta on Monday criticized Obsidian Energy  for failing to address ongoing concerns about its operations after regulators said the Canadian oil and gas producer was responsible for a series of earthquakes….

3rd Party Processing Adds over 40,000 ounces AgEq* February 13, 2024 / Vancouver, British Columbia – Guanajuato Silver Company Ltd. (the “Company” or “GSilver“) (TSXV:GSVR)(OTCQX:GSVRF) is pleased to provide a production update for the month of January 2024. Production results are generated from the Company’s wholly owned El Cubo Mines Complex (“El Cubo“), Valenciana Mines Complex […]

Summary Middle East conflict keeps prices elevated US inflation data expected on Tuesday POLL-US crude stocks likely rose last week, products seen down (Reuters) – Oil prices edged up on Tuesday as uncertainty over fighting in the Middle East kep…

(Reuters) – For years, Endeavor Energy founder Autry Stephens’ refusal to entertain acquisition offers for one of the most lucrative producers in the U.S. oil patch vexed some of his peers. “It’s not for sale, it hasn’t be…

CALGARY, Alberta, Feb. 12, 2024 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) provides an update on its Northern Llanos operations, which are being affected by ongoing social protests in the region that began on Ja…

  THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. CALGARY, Alberta, Feb. 13, 2024 (GLOBE NEWSWIRE) — Cielo Waste Solutions Corp. (TSXV: CMC; OTC: CWSFF) (“Cielo” or …

* WCS for March delivery in Hardisty, Alberta, settled at $19.40 a barrel under WTI, according to brokerage CalRock, having closed at $19.25 per barrel below the U.S. benchmark on Friday. * Canadian heavy crude differentials have been under pressure al…

CALGARY, Alberta, Feb. 12, 2024 (GLOBE NEWSWIRE) — PrairieSky Royalty Ltd. (“PrairieSky” or the “Company“) (TSX: PSK) is pleased to announce its fourth quarter (“Q4 2023“) and year-end operating and financial results for the period ended December 31, 2…

Calgary, Alberta–(Newsfile Corp. – February 12, 2024) – Cardinal Energy Ltd. (TSX: CJ) (“Cardinal” or the “Company“) is announcing its February 2024 dividend and providing a general operations update. Cardinal intends to provide monthly operating updat…

Saudi Arabia’s decision to postpone oil capacity expansion plans should not be interpreted as an assessment that demand for crude is falling, OPEC’s Secretary General said on Tuesday. “First of all I want to be clear I cannot comment on a Saudi decisio…

Rio Tinto (ASX: RIO) said on Tuesday that an unloaded autonomous train derailed on Sunday evening at about 120 km from Western Australia’s […]
The post Rio Tinto autonomous train derails in Western Australia appeared first on Canadian Minin…

Morgan Stanley raised its quarterly outlook for Brent crude prices as it now expects a balanced oil market this year having expected a surplus earlier.

Oil and gas companies and environmental groups on Monday filed dueling legal challenges to the Biden administration’s five-year plan to offer drilling leases in the Gulf of Mexico.

The gas supplied will be aggregated with existing Mereenie gas supply from Macquarie Mereenie, NZOG, and Cue to deliver up to 27.4 petajoules of gas to Arafura from 2026.