Day: February 15, 2024

By Canada Powered by Women Canada really is the true north, strong and free — stretching from the Atlantic, to Pacific, to Arctic coasts. Incredible as these vast swaths of land are though, they do pose a power supply challenge for remote and rural com…

It is now popular to talk about leaving fossil fuels to prevent climate change. Pretty much the same result occurs if we run short of fossil fuels: We lose fossil fuels, but it is because we cannot extract them. Practically no one tells us about the ex…

Natural gas futures faltered for an eighth-consecutive session on Thursday, dropping to three-and-a-half year lows following a bearish government inventory report and amid ongoing signs of supply/demand imbalance. At A Glance: EIA reports 49 Bcf draw Mixed near-term weather Production holds strong Coming off an 8.0-cent loss the prior session, the March Nymex gas futures…

The post Natural Gas Spot Prices, Futures Flounder – Again – After Storage Result Affirms Weak Fundamentals appeared first on Natural Gas Intelligence

(Reuters) – Cenovus Energy  narrowly missed analysts’ estimates for quarterly profit, but higher production and refinery throughput volumes pushed shares in the Canadian oil and gas producer as much as 7% higher on Thursday. Upstream produc…

The U.S. Federal Energy Regulatory Commission (FERC) on Thursday approved Oneok Inc.’s proposed 2.8 Bcf/d Saguaro Connector natural gas pipeline, which would transport Permian Basin supply to the U.S.-Mexico border. The pipeline would transport gas to Mexico Pacific Ltd.’s Saguaro Energía LNG export plant envisioned for Puerto Libertad, Sonora, located on the country’s west coast. …

The post U.S. Regulators Approve Saguaro Connector Linked to Mexico Pacific LNG Project appeared first on Natural Gas Intelligence

Slammed by a lack of winter weather set against a robust supply backdrop, regional natural gas forwards fell sharply across the Lower 48 during the Feb. 8-14 trading period, NGI’s Forward Look data show. Henry Hub fixed prices for March delivery took a 35.6-cent nosedive week/week to exit the period at $1.620/MMBtu. The benchmark saw…

The post Widespread Discounts for Natural Gas Forwards as Mild Weather Crushes Prices appeared first on Natural Gas Intelligence

Following a year of LNG production increases and plans for a massive gas project pipeline, the Biden administration is finally responding to calls to halt giant new LNG projects, in line with climate pledges. Environmentalists have repeatedly stated th…

U.S. natural gas producers are slashing spending and reducing drilling activity following a sharp decline in prices, companies said this week during earnings presentations and analyst calls. For months of relatively low gas prices, many producers kept …

A bill to strip the power of President Joe Biden’s administration to freeze approvals of liquefied natural gas exports passed in the Republican-controlled U.S. House of Representatives on Thursday, but faces an uphill battle in the Senate. The House ap…

REGINA, SK / ACCESSWIRE / February 15, 2024 / ROK Resources Inc. (“ROK” or the “Company“) (TSXV:ROK)(OTCQB:ROKRF) is pleased to provide: (i) 2023 operations update highlighted by record December 2023 daily average production of approximately 4,650 boep…

We have been covering the full on implosion of ESG and “green” investing for the better part of the last 6 months and today, the wreckage continues. That’s because mega-bank JP Morgan has officially left a $68 trillion investor coalition that is “focus…

We have been covering the full on implosion of ESG and “green” investing for the better part of the last 6 months and today, the wreckage continues. That’s because mega-bank JP Morgan has officially left a $68 trillion investor coalition that is “focus…

The U.S. House of Representatives passed a Republican-sponsored bill on Thursday to reverse the Biden administration’s pause on authorizing new LNG exports.

The post House Votes to Reverse Biden’s Pause on New LNG Exports – The Offtake appeared first on Natural Gas Intelligence

Growth in the eurozone will be slower than previously expected as the bloc continues to struggle with inflationary pressures and high interest rates, according to new forecasts from the European Commission. The eurozone is now predicted to grow 0.8 per…

FERC grants three year extension to Driftwood LNG construction deadline. [Image credit: Tellurian]

We have been covering the full on implosion of ESG and “green” investing for the better part of the last 6 months and today, the wreckage continues. That’s because mega-bank JP Morgan has officially left a $68 trillion investor coalition that is “focus…

The European Union (EU) has “no interest” in extending the transit agreement for Russian natural gas supply to EU countries via Ukraine, EU Energy Commissioner Kadri Simson said on Thursday.   The gas transit deal, with which EU members including Austr…

Chinese electric vehicle major BYD is considering opening a factory in Mexico, the Wall Street Journal has reported. Citing unnamed sources, the publication said that BYD was scouting for suitable locations. The factory would manufacture cars for the U…

In an attempt to show that they are finally taking heed of the rapidly aggravating problem of air pollution, authorities in Uzbekistan have slapped fines on two major state-run power plants for causing harm to the environment. Tashkent thermal power pl…

Hopes for relief rally dashed by reported 49 Bcf withdrawal from storage, versus estimates for pull around 68 Bcf March Nymex contract down 2.6 cents to $1.583/MMBtu as of 2:22 p.m. ET; 2025 strip also under downward pressure A “ramp in renewable generation” plus supply changes “account for 2.4 Bcf/d of weather-normalized loosening” for latest…

The post Natural Gas Futures Slump Below $1.60 After Early Rally Attempt Fizzles — Midday Market Snapshot appeared first on Natural Gas Intelligence

Mexico will need to attract more than $41 billion in investment to generate an estimated 37 GW of additional electricity capacity required to meet the increased energy demand anticipated by nearshoring, Abraham Zamora, president of the Mexican Energy Association (AME), said during a recent presentation in Monterrey.  Nearshoring, or the relocation of manufacturing and supply…

The post Mexico Nearshoring Boom to Require Massive Energy Investment, Experts Say appeared first on Natural Gas Intelligence

Oil trading giant Trafigura has agreed to debt repayment plans with its oil products customers in Mongolia, which will lead to significant losses for the trader in Mongolia, Bloomberg reported on Thursday, saying the losses could be in the hundreds of …

Via Metal Miner The Raw Steels Monthly Metals Index (MMI) fell 11.17% from January to February as steel prices declined. U.S. flat rolled steel prices continued to slide after finding a peak at the close of 2023. Following a 2% decline throughout Janua…

Gravitricity, a Scottish company, has set its sites on turning a closed Finnish mine into a giant storage battery for renewable energy. […]
The post First commercial gravity storage for energy planned in Finnish mine appeared first on Canadian Mi…

Management changes announced this week: Atha Energy named Cliff Revering as VP exploration and Karina Tyne as director of corporate affairs. Avalon […]
The post Mining People: Avalon Advanced, Fleet Space, Star Diamond, Bell Copper, Honey Badger,…

This week’s episode features PearTree founder and CEO Ron Bernbaum in conversation with host Adrian Pocobelli on the potential adverse effects of proposed tax changes in […]
The post TNM Podcast: Tax change will hurt Canada’s juniors, ft PearTree…

DigiGeoData Inc., the developer of the online interactive Atlas mapping tool and publisher of the industry standard Exploration Activity Maps, announces the […]
The post New release makes DigiGeoData the go-to mineral intelligence tool appeared f…

Total investments in oil and gas activity offshore Norway, including pipeline transportation, are estimated to hit $23 billion (244 billion Norwegian crowns) this year, up by 5% compared to last quarter’s assessment, Statistics Norway said on Thursday….

Researchers at NYU Tandon School of Engineering achieved a major breakthrough in Redox Flow Desalination (RFD), an emerging electrochemical technique that can turn seawater into potable drinking water and also store affordable renewable energy. In a pa…

BHP announced on Thursday that it is considering closing its Western Australia Nickel operations amid a sharp fall in prices. The miner said it […]
The post BHP considers closing Western Australia Nickel operations amid price decline appeared fir…

In what was a rather uneventful quarter for Warren Buffett’s Berkshire Hathaway, the massive hedge fund made only a few modest changes to its portfolio in Q4 2023, which as of Dec 31, 2023 was valued as $347.4 billion (at least the long book, short pos…

Eni has completed the drilling of a second appraisal well at the Cronos natural gas discovery offshore Cyprus, estimating additional production capacity as it looks to fast-track development of the field, the Italian energy major said on Thursday.   Th…

The United States and the EU, together with partners, discussed this week the potential of slapping “robust” new sanctions on Russia ahead of the second anniversary of the Russian invasion of Ukraine, a senior U.S. official told Reuters. The partners m…

The U.S. Energy Information Administration (EIA) on Thursday reported a withdrawal of 49 Bcf natural gas from storage for the week ended Feb. 9. The result was weaker than expectations and far shy of historical norms, briefly renewing pressure on Nymex natural gas futures before steadying into a sideways trade midmorning. Minutes ahead of the…

The post March Natural Gas Futures Flatten Following Bearish Storage Print appeared first on Natural Gas Intelligence

Novo Resources Corp. (ASX:NVO)(TSX: NVO) has provided an update on recent drilling by joint venture partner De Grey Mining (ASX:DEG) at the Becher Project, part of Novo’s highly prospective Egina gold belt in the Pilbara region of Western Australia. The Becher Project is under an earn-in and joint venture agreement with De Grey, under which […]

The post Novo Resources (TSX:NVO) Provides Updates on Positive Becher Joint Venture Drilling appeared first on MiningFeeds.

Global oil demand continues to rise and will keep increasing for years, but the annual rate growth may have already peaked, according to Bank of America. Electrification of transport, energy efficiency, and slower economic growth would all combine to c…

The European Union (EU) has “no interest” in extending the transit agreement for Russian natural gas supply to EU countries via Ukraine, EU Energy Commissioner Kadri Simson said on Thursday.   The gas transit deal, with which EU members including Austr…

JP Morgan Asset Management has left the Climate Action 100+ group that was set up to pressure companies into becoming greener. The reason for the move, per the Financial Times, is that the bank’s asset management arm believes it has accumulated the exp…

Global oil demand growth is losing momentum, the International Energy Agency (IEA) said on Thursday as it trimmed its 2024 growth forecast, in sharp contrast to the view held by producer group OPEC.

VANCOUVER, B.C., February 15, 2024 – Relevant Gold Corp. (TSXV:RGC) (OTCQB:RGCCF) (the “Company” or “Relevant Gold”) is pleased to announce gold assay results for its 1,560 metre (m) diamond drilling exploration program at its Heavy Hand target – Lewiston Project, located in the Company’s 15,095-hectare land package in the South Pass Gold Field, Wyoming, USA. Drilling intersected shear-hosted gold […]

Argentina Lithium & Energy (TSX-V: LIT; US-OTC: PNXLF) is advancing the Rincon West brine project in the country’s north with exploration drilling, […]
The post JV Video: Argentina Lithium & Energy drills Rincon West appeared first on Ca…

U.S. natural gas markets are looking dire for sellers, with futures diving near depths last seen during the Covid-19 pandemic. Several catalysts lie ahead, though, that could create a floor and set the stage for a rebound, according to analysts. The March New York Mercantile Exchange (Nymex) contract fell below the $2.000/MMBtu level on Feb.…

The post How Long Could U.S. Natural Gas Stay Below $2? Forecasts Say Not Long If E&Ps Turn Off ‘Spigot’ appeared first on Natural Gas Intelligence

Calgary-based Arc Resources Ltd. plans to expand its Montney Shale natural gas production this year as it builds reserves for selling up to 25% of future output to global markets to capture the LNG export premium. To execute its strategy, total production in 2024 is forecast to average 350,000-360,000 boe/d, 63% weighted to natural gas.…

The post Arc Resources Eyeing LNG Canada, Gulf Coast Exports to Fetch Top Prices for Montney Natural Gas appeared first on Natural Gas Intelligence

Europe is set for a boom in battery storage installations with grid-scale capacity expected to jump sevenfold by the end of this decade and represent $84 billion (78 billion euros) in total investment opportunities through 2050, Aurora Energy Research …

The head of Japan’s gas utilities group said on Thursday the United States, the world’s biggest exporter of liquefied natural gas (LNG), remains an important supply source for Japan despite the recent pause in U.S. LNG export permits.

After facing relentless selling pressure in recent sessions, natural gas futures pared some of those losses early Thursday as overnight weather models were seen shifting somewhat cooler. The March Nymex contract was up 2.9 cents to $1.638/MMBtu as of 8:38 a.m. ET. The front month on Wednesday probed as low as $1.590, testing a key…

The post Relief Rally? Natural Gas Futures Climb as Light EIA Withdrawal Expected appeared first on Natural Gas Intelligence

CALGARY, Alberta, Feb. 15, 2024 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) continued to deliver strong operational performance across the portfolio in the fourth quarter of 2023. The company’s upstream assets performed exceptionally …

CALGARY — Cenovus Energy Inc. is the latest Canadian oilsands company to report surging production levels just in time for the anticipated startup of the Trans Mountain pipeline expansion.
The Calgary-based company said Thursday it saw its second-high…

Summary IEA trims 2024 oil demand growth forecast Raises supply growth estimates Expects slight build in inventories in Q1 despite OPEC+ cuts Oil prices dip after report (Reuters) – Global oil demand growth is losing momentum, the International E…

Summary IEA trims 2024 oil demand growth forecast U.S. crude inventories rise more than expected Britain and Japan recessions weigh on prices (Reuters) – Oil prices fell slightly on Thursday as the International Energy Agency (IEA) flagged slowin…

CALGARY, Alberta, Feb. 14, 2024 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce its unaudited 2023 full-year and fourth quarter financial and operational results and highlights from its in…

In the face of resistance from provinces to its anti-fossil fuel agenda, and having endured several setbacks in the federal courts over some of its signature environmental policies, the Trudeau government has rolled out a new propaganda campaign to bui…

The composition of Canadian trade has changed significantly in the last 20 years, with oil and gas now Canada’s most significant export By Ven Venkatachalam Follow CEC on LinkedIn  CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter …

apan’s biggest city gas supplier Tokyo Gas Co Ltd 9531.Texpects that by 2030 its U.S. shale gas and related businesses, including trading and marketing, will contribute around 50% to its targeted overseas profit, its president said.

Republican lawmakers opposing President Joe Biden’s pause on LNG export approvals said the U.S. House of Representatives will vote on Friday on a bill to take those approvals out of the hands of the Department of Energy. The bill has been in developmen…

Nouveau Monde Graphite (TSX-V: NOU; NYSE: NMG) inked on Thursday multi-year offtake agreements with General Motors (NYSE: GM) and Panasonic Holdings, with […]
The post Canadian graphite miner NMG scores deals with GM, Panasonic appeared first on …

Renergen operates the Virginia Phase 1 liquefaction plant, commissioned in 2022. [Image: Renergen]

Each week Josef Schachter gives you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold  newsletter covering the general energy market and 37 energy, energy service and pip…

The Outer Harbor LNG terminal project involves the development of two berths at Port Adelaide, the FSRU, cryogenic piping, and associated infrastructure. [Image: Venice]

Once operational, Phase 1 is expected to produce approximately 2.3 million tonnes/year of LNG. [Image: BP]