Day: February 16, 2024

Weekly natural gas cash prices lost ground despite brief bouts of wintry weather and stronger heating demand in parts of the central and eastern United States. This was offset by mild temperatures elsewhere and robust production that ultimately hampered both physical markets and futures. NGI’s Weekly Spot Gas National Avg. for the Feb. 12-16 period…

The post Weekly Natural Gas Spot Prices Sputter Despite Nor’easter; Futures Flail  appeared first on Natural Gas Intelligence

There can be a tendency to believe that uranium deposits are scarce from the critical role it plays in generating nuclear energy, along with all the costs and consequences related to the field. But uranium is actually fairly plentiful: it’s more abunda…

For the first time in nine sessions, natural gas futures on Friday forged ahead as discount buying finally overtook the mild weather forecasts and elevated supplies that had sapped the will of price bulls most of this month. At A Glance: Prompt month gains 2.8 cents  Bargain buying saves the day Fundamentals ‘indelibly weak’ The…

The post Natural Gas Futures Finally Find Fresh Footing, Post Modest Advance; Cash Prices Mixed appeared first on Natural Gas Intelligence

Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) (“Phenom” or the “Company“) announces that it has closed its over-subscribed non-brokered private placement (the “Offering“) previously announced on January 19, 2024, as updated January 24, 2024. The Company has issued 6,468,000 Units (the “Units“) at a price of $0.17/Unit for gross proceeds of $1,099,560. In connection […]

In a development underscoring the delicate balance between addressing the needs of Tajikistan’s domestic population and the government’s reliance on stable revenue, the state-owned power company has said it intends to boost electricity exports to Afgha…

Via Metal Miner Numerous factors continue to pull at the Renewables MMI (Monthly Metals Index) as it moves through Q1. This past month, the index largely moved sideways, only exhibiting a slight upward movement of 1.66%. Meanwhile, renewable energy new…

Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico’s natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. In recent years, Mexico’s energy sector has embarked on a journey marked by ambitious expansions, strategic missteps, and a confidence crisis that…

The post Navigating the Labyrinth: Mexico’s Energy Policy and the Road to Uncertainty – Column appeared first on Natural Gas Intelligence

By Scott DiSavino Feb 16 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the second time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and…

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 Natural Gas Forward Prices Grind Even Lower as Market Awaits Production Response appeared first on Natural Gas Intelligence

U.S.-based investment company Nebula Energy LLC has invested $300 million for an undisclosed majority stake in LNG terminal developer, AG&P Terminals & Logistics Pte Ltd (AG&P LNG). Nebula Energy is expanding its business in the liquified natural gas and carbon capture and storage sectors with its investment in AG&P LNG; with plans to fast-track LNG…

The post Nebula Energy Buys Majority Stake in AG&P LNG to Fast-Track Asian Natural Gas Projects appeared first on Natural Gas Intelligence

Major oil and gas firms are set to hold crisis talks this week to discuss concerns about Labour’s windfall tax plans for the sector. Industry body Offshore Energy UK (OEUK) will host the meetings, which will take place on Tuesday and Thursday. “We rema…

Major oil and gas firms are set to hold crisis talks this week to discuss concerns about Labour’s windfall tax plans for the sector. Industry body Offshore Energy UK (OEUK) will host the meetings, which will take place on Tuesday and Thursday. “We rema…

The U.S. natural gas rig count held steady at 121 for the week ended Friday (Feb. 16), while a decline in oil activity lowered the combined domestic drilling tally two units to 621, according to updated figures from Baker Hughes Co. (BKR). Land drilling went unchanged week/week in the United States, while the Gulf of…

The post Natural Gas Rigs Flat in U.S. at 121, Oil Count Falls to 497, BKR Data Show appeared first on Natural Gas Intelligence

The Sio Silica mine proposal, which would have produced silica sand used to manufacture solar panels, glass and electronics, has been rejected by the Manitoba government, raising questions about the future of mines deemed necessary for a shift to a low…

An international team that includes Rutgers University-New Brunswick scientists has developed a new method to make and manipulate a widely studied class of high-temperature superconductors. This technique should pave the way for the creation of unusual…

Natural gas futures essentially treading water as bearish week of trading draws to close After starting week around $1.800/MMBtu, March Nymex contract trading at $1.610 as of 2:25 p.m. ET, up 2.9 cents Gelber & Associates analysts see “relatively little volatility and market participation” ahead of President’s Day weekend, as “traders have likely squared away…

The post Modest Gains for Natural Gas Futures Ahead of President’s Day Weekend — Midday Market Snapshot appeared first on Natural Gas Intelligence

Saudi state oil giant Aramco may issue a new bond this year to optimize its capital structure, according to its chief financial officer Ziad Al-Murshed. In the bond issue, Saudi Aramco would be looking at longer bond terms of up to 50 years, the execut…

QatarEnergy, the state giant of one of the world’s top liquefied natural gas exporters, expects to soon announce new LNG supply agreements with European and Asian buyers as it is working on the world’s largest LNG export capacity expansion.    QatarEne…

Developing the UK’s battery storage capacity is crucial to the green transition.  One of the downfalls of renewable energy, such as wind and solar, is that it is beholden to the elements and can’t always provide a continuous output of power.  But if th…

The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday. The total rig count fell by 2 to 621 this week, compared to 760 rigs this same time last year. Th…

  Hydrogen could be the next big thing in the automotive world. In its pathway to net zero by mid-century, the International Energy Agency projects that hydrogen will account for a full 16% of road transport. Moreover, some industry insiders believe th…

Precious metals miner Polymetal is looking for an exit from Russia in order to avoid nationalization or other forms of expropriation and agreed to sell its Russian unit in a deal valuing it at $3.69 billion. Polymetal International plc said on Monday i…

Work at Venture Global LNG Inc.’s Calcasieu Pass export facility could stretch on until the end of the year, requiring the firm to seek an authorization extension from FERC, the company disclosed in a recent filing. The Virginia-based company has asked the Federal Energy Regulatory Commission to grant it an extra year to complete the…

The post Venture Global Asks FERC for 1-Year Extension of Calcasieu Pass LNG Commissioning appeared first on Natural Gas Intelligence

Oil prices continued their sideways journey, with some bullishness emerging from weak US retail sales swiftly quashed by new escalation in the Middle East, with Israel attacking Rafah and the Houthis expected to retaliate soon. Friday, February 16, 202…

A UK-registered vessel has become the target of attack off the Yemeni coast, with military authorities saying that the crew had abandoned the vessel. The UK’s Maritime Trade Operations authority reported the incident and said that military authorities …

Pipeline company swing from loss to profit on high demand for gas

A fire broke out Saturday in a warehouse storing lithium-ion batteries in southern France, near Toulouse. Per media reports, the warehouse, property of local recycling company Société Nouvelle d’Affinage des Métaux contained 900 tons of batteries. Reut…

In 2023, China’s economy expanded by 5.3%. This would have been an impressive number worth celebrating for any other country. For China, however, the number was widely seen as a disappointment—even though it exceeded analyst expectations. As a result o…

Solaris Resources (TSX:SLS) is preparing for a significant update to its mineral resource estimate for its flagship Warintza Project in southeastern Ecuador. The announcement, made in early January, comes in the middle of an ongoing drilling program and broader developments aimed at advancing the project towards potential development. What’s next for the project, and what […]

The post Solaris Resources (TSX:SLS) Gears Up for Major Mineral Resource Update at Warintza Project appeared first on MiningFeeds.

Weekly Performance and Overview As the week concludes, West Texas Intermediate (WTI) crude oil is experiencing a modest gain, increasing by approximately 1.35%. This movement reflects the interplay of global economic data, currency fluctuations, and ge…

Numbers Report – February 16, 2024 In the latest edition of the Numbers Report, we will take a look at some of the most interesting figures put out this week in the energy and metals sectors. Each week we’ll dig into some data and provide a bit of expl…

Politics, Geopolitics & Conflict -Ukraine said this week that it had destroyed a Russian warship off the coast of occupied Crimea, sinking the vessel with navy drones. This comes amid a number of developments related to the war in Ukraine this week, in…

There are times when I look at the price and performance of a stock as compared to the performance of the underlying company and just scratch my head. That could be because momentum has pushed a price way too high, as happened a lot a couple of years a…

Cross-border missile exchanges between Israel and Lebanon intensified this week, with Hezbollah launching missiles at northern Israel and Israel responding with its own missile barrage on southern Lebanon, both resulting in civilian deaths. As we have …

TC Energy Corporation reported on Friday record comparable core earnings and earnings per share for 2023, topping analyst estimates, as demand for natural gas and LNG surged. The Canada-based pipeline giant booked US$8 billion (C$11.0 billion) in earni…

Energy Transfer LP has sold about 25% of capacity for its proposed 1.5-2.0 Bcf/d Warrior Pipeline, which it expects the market will need to meet natural gas transportation needs along the Gulf Coast within the next few years, executives said. During a fourth quarter earnings call, Co-CEO Marshall McCrea said the Dallas-based midstream giant had…

The post Energy Transfer Pushing Ahead with Warrior Natural Gas Pipeline to Expand Gulf Coast Transport appeared first on Natural Gas Intelligence

Russian troops in Ukraine increasingly have access to Starlink, the private satellite Internet network owned by Elon Musk that Ukraine’s military relies on heavily for battlefield communications. The findings from RFE/RL’s Russian Service corroborate e…

Federal regulators have approved a three-year extension for Tellurian Inc.’s Driftwood LNG export facility to begin operations, determining the Houston-based firm has demonstrated due diligence to complete the project, in light of the Covid-19 pandemic.  During the recent open meeting, FERC authorized an extension through April 18, 2029 for the proposed liquefied natural gas export…

The post Tellurian’s Driftwood LNG Granted Three-Year Extension as FERC Rejects Critics’ Arguments appeared first on Natural Gas Intelligence

Asian spot liquefied natural gas (LNG) prices slipped to a near three-year low this week, as inventories in Europe remain at healthy levels and buying activity in northeast Asia was subdued due to the Lunar New Year holidays.

Profits up from both Canadian and US natural gas pipeline businesses. [Image credit: Coastal GasLink]

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 Anemic Storage Print Sends March Natural Gas Futures Lower appeared first on Natural Gas Intelligence

With oversupply concerns remaining top-of-mind following a bearish miss in the latest government inventory data, natural gas futures hovered close to even at discounted levels early Friday. Having sold off throughout the week as the market searches for a bottom, the March Nymex contract was up 1.3 cents to $1.594/MMBtu at around 8:45 a.m. ET.…

The post March Natural Gas Stabilizes Early; Storage Print Feeds Oversupply Worries appeared first on Natural Gas Intelligence

Alexey Navalny, who was imprisoned in a penal colony in Russia’s Arctic Circle, has died, Russia’s prison service said on Friday. Navalny, 47, was a fierce critic of Putin’s regime and his circle of cronies, and was serving a 19-year prison sentence, w…

U.S. natural gas producers are beginning to reduce drilling and investment as low prices weigh on their returns. Reuters reports that natural gas prices in the U.S. hit the lowest in three and a half year, betraying drillers’ expectations for a rebound…

CALGARY — TC Energy Corp. raised its dividend as it reported a fourth-quarter profit of $1.46 billion.
The pipeline operator says it will now pay a quarterly dividend of 96 cents per share, up from 93 cents per share.
The increased payment to sharehol…

The imports were up in the 10 months of the current fiscal year, which commenced on April 1, 2023, as well.

This week, Crude oil prices got stuck between a pessimistic demand outlook from the International Energy Agency and signs that OPEC+ is working hard to reduce supply. Earlier today, in morning trade in Asia, the benchmarks reached the highest in three …

Increases common share dividend for the twenty-fourth consecutive year CALGARY, Alberta, Feb. 16, 2024 (GLOBE NEWSWIRE) — TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) released its fourth quarter results today. François Poirie…

Reuters Feb 16 (Reuters) – Pipeline operator TC Energy beat fourth-quarter profit estimates on Friday, helped by high demand for liquefied natural gas (LNG). The U.S. was the world’s top LNG exporter last year, after Europe imposed sanction…

(Reuters) – Oil slipped on Friday as a forecast of slowing demand by the International Energy Agency offset support from geopolitical tensions and hopes that the U.S. Federal Reserve might cut interest rates sooner than expected. Weighing on sent…

Eni’s (NYSE: E) fourth-quarter and 2023 earnings exceeded consensus estimates as “record-breaking” performance in the gas and LNG division offset weaker oil and gas prices and refining margins.  The Italian energy major reported on Friday adjusted net …

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…

Italian energy group Eni on Friday reported fourth-quarter adjusted net profit of 1.64 billion euros ($1.8 billion), beating analysts’ expectations, helped in part by a positive arbitration outcome.

Budapest, Hungary – 13 February 2024 – The highly anticipated 5th Budapest LNG Summit is set to convene on April 9, 2024, at the prestigious Hotel Marriott Budapest, with the participation of energy leaders from more than 25 countries, marking a pivotal moment in the discourse surrounding the future of gas in Central and Eastern Europe. The organizers are thrilled to announce a stellar lineup of speakers who will headline the event.

Utility firm Alliant Energy LNT.O missed Wall Street estimates for fourth-quarter profit on Thursday, as lower retail electric and gas sales and higher asset depreciation expenses offset a drop in operating costs.

U.S. energy regulators on Thursday approved a cross-border pipeline that would export about 2.8 billion cubic feet per day of natural gas from Texas to Mexico Pacific’s Saguaro LNG export plant on Mexico’s west coast.

Natural Resources Minister Warns Canada Must Accelerate Energy Transition for Economic Security Original published in the Financial Post, More from the Financial Post Here Western countries must catch up to China which is leading on multiple fronts, sa…

The Australian company has revised its full-year outlook for the energy markets segment.

Oilpatch needs firm commitments of government support Bloomberg News The $16.3 billion first phase of Pathways Alliance’s massive development to store emissions underground “will be delayed and potentially scuppered” if Canada’s federal and provincial …

Venture Global LNG sought a one-year permit extension to complete construction of its Calcasieu Pass gas-export plant in Louisiana, in a filing Thursday with the U.S. Federal Energy Regulatory Commission (FERC). [Image: Venture Global]