Day: February 21, 2024

WHEN Wednesday, April 10 · 2:30 – 7pm MDT WHERE Calgary Petroleum Club – Devonian Room 319 5 Ave SW Calgary, AB T2P0L5 ABOUT Calgary Women in Energy is excited to present Allies in Energy 2024 – Executive Forum. At the 2023 forum, we …

WHEN Thu, Mar 14, 2024 11:30 AM – 1:30 PM MDT WHERE Calgary Marriott Downtown Hotel 110 9 Avenue Southeast Calgary, AB T2G 5A6 ABOUT Unlock the secrets of negotiation with the Thoughtful Co. this International Women’s Day! Join CWiE on Thur…

CALGARY — Suncor Energy Inc. says it earned $2.82 billion in the fourth quarter of 2023, up from $2.74 billion in the same period of 2022.
The Calgary-based oil company says its net earnings for the three months ended Dec. 31 work out to $2.18 per co…

In the US, companies that want to build liquefied natural gas (LNG) export terminals need to get advance approval for their plans from the US Department of Energy. There was a recent news item saying, “Biden pauses LNG export approvals under pressure f…

Prompt month natural gas futures rallied for only the second time in two weeks on Wednesday, gaining ground on lower production data and vows from a key player to drop rigs and cut output to help align currently robust supplies with modest winter demand. At A Glance: Front month gains 19.7 cents Production slips to…

The post Signs of Production Declines Send Natural Gas Futures, Cash Prices Into Rally Mode appeared first on Natural Gas Intelligence

Despite a record-breaking 60 gigawatts direct current (GWDC) of solar PV capacity expansion in 2023, solar power generation in Europe saw a modest increase of about 20%. This year, however, will be another story. Rystad Energy forecasts solar photovolt…

Colombia’s plan to start importing natural gas from Venezuela this year may not materialize because of a decayed idle pipeline in dire need of repairs, an industry official told Bloomberg. Colombia’s domestic natural gas resources are not enough to mee…

But demand seen returning in 2025 as new LNG capacity comes online.

Norway’s Equinor ASA has agreed to supply one of India’s largest chemical manufacturers using its growing portfolio of Norwegian and U.S. LNG under a new long-term sales and purchase agreement (SPA). Deepak Fertilisers and Petrochemicals Corp. Ltd. has secured 0.65 million metric tons/year (mmty) of liquefied natural gas for 15 years from Equinor that it…

The post Equinor Nets 15-Year LNG Supply Agreement to Support Indian Ammonia Production appeared first on Natural Gas Intelligence

Speaking this weekend at a Denver meeting of the American Association for the Advancement of Science, geologists heralded a coming, game-changing surge in mankind’s harvesting of a resource long thought impractical to collect: naturally-occurring or “g…

A roundup of news and commentary from NGI’s LNG Insight Feed gas nominations to Freeport LNG started to tick up again Wednesday after being curtailed over the holiday weekend, according to Wood Mackenzie pipeline data. The Texas facility reported an outage at Train 1 on Feb. 16 caused by a compressor issue, according to a…

The post Flows Return to Freeport LNG After Train 1 Compressor Issue – The Offtake appeared first on Natural Gas Intelligence

Armenian Prime Minister Nikol Pashinyan and Azerbaijani President Ilham Aliyev met in Munich on February 17 with the mediation of German Chancellor Olaf Scholz.  According to Azerbaijan’s APA news agency, Scholz left the room at some point and the meet…

Natural gas futures up sharply through midday trading, with March Nymex contract 19.7 cents higher at $1.773/MMBtu as of 2:21 p.m. ET  Rally sparked by Chesapeake Energy Corp. announcing 2024 production cuts; company guiding for 2.65-2.75 Bcf/d in 2024, reflecting 22% year/year decline Per Gelber & Associates analysts, “The move is likely exacerbated by short-covering,…

The post Natural Gas Futures Rally Continues After Chesapeake Announces Cuts — Midday Market Snapshot appeared first on Natural Gas Intelligence

Cheniere Energy (NYSE: LNG), the biggest U.S. LNG exporter, reported on Thursday a 39% plunge in its revenues for 2023, dragged down by lower natural gas prices. Cheniere Energy’s revenues fell to $20.4 billion last year from $33.4 billion booked in 20…

By Eric Kulisch of FreightWaves Air Canada expects the slow recovery in cargo volume that began in the fourth quarter to quicken in 2024, aided by the addition of two more freighter aircraft, but doesn’t anticipate gains in pricing power, Mark Galardo,…

The three supermajors that are suing Venture Global for breach of LNG delivery contracts have attacked again, asking U.S. regulators to be allowed to voice their position on Venture Global’s plans to further delay the official launch of its Calcasieu P…

The Premier of Alberta Danielle Smith has warned that lower oil prices will have an impact on the province’s new budget, forcing some spending cuts. During a televised address on Wednesday night, Smith said “Lower resource revenues will certainly requi…

Dryden Gold (TSXV: DRY) has solid assays from the first drilling program it initiated at the Gold Rock property in the Kenora […]
The post Dryden Gold cuts 26.22 g/t gold over 3.2 metres in first drill program at Gold Rock appeared first on Canad…

VICTORIA — The federal government says the final offshore oil and gas permits for Canada’s West Coast have been relinquished.
A news release from the office of Energy and Natural Resources Minister Jonathan Wilkinson says the relinquishment came from …

Rio Tinto (ASX: RIO) has signed what it says is the largest renewable power deal in Australia. The miner will purchase 80% […]
The post Rio Tinto signs Australia’s biggest renewable power deal appeared first on Canadian Mining Journal.

Wesdome Gold Mines (TSX: WDO; OTCQX: WDOFF) continues to drill the recently discovered high-grade Falcon 311 zone at its Eagle River gold […]
The post Wesdome drills more high grades at Falcon 311 zone at Eagle River gold mine appeared first on C…

Eriez has begun working on its cutting-edge R&D, Eriez at sbarc, located at Cardiff University in Wales. This partnership with Cardiff Innovations […]
The post Eriez boosts R&D capability with Cardiff University collaboration appeared fir…

With production strong and demand fading, natural gas futures fell prey to price bears once again. At A Glance: NGI models 65 Bcf draw Benign weather in cards Production at 104 Bcf/d Coming off a 2.8-cent gain on Friday – but eight straight losses prior to that – the March Nymex gas futures contract settled…

The post Natural Gas Futures, Cash Prices Renew Downward Slide Monday Amid Weak Demand appeared first on Natural Gas Intelligence

Following a 4.7% month-over-month decline during January, aluminum prices fell an additional 1.9% throughout the first half of February. Despite these declines, aluminum prices continued to trade in their long-term sideways range. Meanwhile, the Midwes…

Oil producers in North Dakota’s Bakken Shale are facing the lowest natural gas prices in nearly three decades, according to the state’s top regulator.  Department of Mineral Resources (DMR) Director Lynn Helms addressed the issue during a recent press conference. The price of natural gas delivered to the Northern Border pipeline system at Watford City,…

The post North Dakota Natural Gas Prices Hit 28-Year Low, Highlighting Takeaway Constraints appeared first on Natural Gas Intelligence

Reno, Nevada, February 21, 2024 – i-80 GOLD CORP. (TSX:IAU) (NYSE:IAUX) (“i-80”, or the “Company”) is pleased to announce that it has closed the first tranche of its non-brokered private placement (the “Private Placement“) previously announced on February 7, 2024. The Private Placement was oversubscribed due to strong investor demand, and the Company raised gross proceeds of […]

“The board yesterday approved the largest mining project in the world,” CEO Stausholm told Financial Times.
The post Rio Tinto’s board gives green light to Simandou appeared first on Canadian Mining Journal.

Crude oil inventories in the United States rose this week, by 7.168 million barrels for the week ending February 16, according to The American Petroleum Institute (API), after analysts predicted a build of 4.298 million barrels. The API reported an 8.5…

Recent construction setbacks will see Mountain Valley Pipeline LLC’s (MVP) long-delayed completion slip further, now into the second quarter. Still, the finish line is in sight for backer Equitrans Midstream Corp. (ETRN), and the company is also eyeing longer-term growth facilitated by the eventual start-up of the embattled Appalachia-to-Southeast natural gas conduit. Last summer, Congress…

The post MVP Start Date Slips, but Finish Line in Sight as Equitrans Eyes Strong Southeast Natural Gas Demand appeared first on Natural Gas Intelligence

West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF) is pleased to announce that it has been recognized by the TSX Venture Exchange as a 2024 Top 50 Company in the Mining category. The 2023 TSX Venture 50 highlights the strongest performances on the TSX Venture Exchange (the […]

Last year, Saudi Arabia’s sovereign wealth fund became the world’s top spender, accounting for a quarter of the $124 billion that sovereign wealth funds invested in total. Saudi Arabia has been spending heavily both abroad and at home—the home of the w…

February 21, 2024 – Vancouver, British Columbia – Kodiak Copper Corp. (the “Company” or “Kodiak”) (TSX-V: KDK, OTCQB: KDKCF, Frankfurt: 5DD1) today reports prospecting, geophysical and geochemical survey results from the 2023 regional exploration program on its 100% owned MPD copper-gold porphyry project in southern British Columbia. Highlights Kodiak’s 2023 regional exploration program identified five new targets at […]

An armed group has taken control of and shut down Libya’s Al-Zawiya refinery and two oil complexes, demanding unpaid salaries and other benefits, Libya media report.  The armed group, the Petroleum Facilities Guard (PFG), said in a Tuesday video statem…

Turkey’s engineering group Kontrolmatik signed on Wednesday an agreement with a Chinese firm to build a wind farm and a 1 GWh energy storage facility in western Turkey, worth more than $600 million. Kontrolmatik’s unit Progresiva Enerji Yatirimlari Tic…

Refining margins for India’s biggest state-owned refiners have dropped in recent months amid more difficult access to Russian crude and soaring freight rates due to the Red Sea disruption to crude shipments, analysts and traders tell Bloomberg. For mos…

Chesapeake Energy Corp. said Wednesday it would significantly slash spending and natural gas production this year in one of the biggest activity cuts announced yet for U.S. onshore operations in response to tanking prices.  The company, one of the largest natural gas producers in the Lower 48, plans to reduce capital expenditures (capex) in 2024…

The post Chesapeake Announces Major Natural Gas Production Cuts in Response to ‘Oversupplied Market’ appeared first on Natural Gas Intelligence

LETHBRIDGE, AB: The Canadian Taxpayers Federation is calling on the Alberta government to strengthen the Taxpayer Protection Act to shield Albertans from a future provincial carbon tax. “Premier Danielle Smith should shield Albertans from a future prov…

Troy Minerals (TSXV:TROY) has released results from the final two drill holes completed in Fall 2023 at its 100% owned Lac Jacques rare earth element (REE) property. The property is located approximately 250 kilometres north of Montreal, Quebec, Canada. Rana Vig, President and CEO, commented in a press release: “The final drill holes from the […]

The post Troy Minerals (TSXV:TROY) Announces Results from Final Drill Holes at Lac Jacques REE Property, Intersects 1495.9 ppm TREO over 5.40 Metres including 3274.7 ppm TREO over 1.40 Metres appeared first on MiningFeeds.

Economic history dictates that the last leg of any battle against high inflation is the hardest, and so it is proving in the United States. Consumer price inflation remains sticky, increasing the likelihood that the Federal Reserve will have to enginee…

A nearly balanced market in the first half of the year and seasonal strengthening of demand in the second half are set to push the price of Brent Crude to $88 per barrel by the end of 2024, according to analysts at Deutsche Bank. “We look for continued…

Canada’s Suncor Energy beat Q4 quarterly earnings estimates as its oil sands production jumped to an all-time high and total upstream production was the second highest in company history. Suncor Energy (NYSE: SU) reported late on Wednesday adjusted ope…

CALGARY, AB, Feb. 21, 2024 /CNW/ – Source Rock Royalties Ltd. (“Source Rock”) (TSXV: SRR) (TSXV: SRR.WT), a pure-play oil and gas royalty company with an established portfolio of oil royalties, announces that it has been recognized by the TSX Venture E…

The electric vehicle (EV) market is on track for a watershed year in 2024 as emissions reduction targets clash with falling consumer spending amid enduring economic uncertainty. Rystad Energy research forecasts 17.5 million EV sales this year, an 18.5%…

German nationalised gas trader SEFE is exploring transforming some of its underground storage caverns and pipelines to clean hydrogen, its CEO said, indicating this could involve investments of roughly 500 million euros ($541 million).

Canada is celebrating a milestone as oil and gas companies have now voluntarily relinquished the last remaining permits for oil and gas exploration and development off its Pacific Coast. Canada has a federal moratorium on all offshore oil and gas activ…

TC Energy Corp. management said it could exceed its goal of more than $2 billion in asset sales in 2024 to focus on natural gas and related segments. “For 2024, there should be no surprise that our strategic priorities will look very similar to 2023,” CEO François Poirier said on a conference call to discuss…

The post TC Highlights ‘Good Interest’ for Asset Sales, Record Pipeline Volumes of U.S. Natural Gas appeared first on Natural Gas Intelligence

After a major producer announced cuts to 2024 output, providing a dose of bullish momentum for a market deprived of upside catalysts, natural gas futures continued to rally in early trading Wednesday. The March Nymex contract was up 15.0 cents to $1.726/MMBtu at around 8:45 a.m. ET. April was up 16.4 cents to $1.810. Prices…

The post Natural Gas Futures Rally Early as Chesapeake Cutting Back in Marcellus, Haynesville appeared first on Natural Gas Intelligence

The true cost of cleaning up mine pollution in B.C. is growing, an investigation by The Globe and Mail and The Narwhal has found. If disaster strikes, taxpayers could be stuck with covering the costs

For nearly a year, U.S. natural gas producers have slammed the brakes on production as prices fall. But relentless output gains including from oil companies that pump gas as an oil byproduct have unleashed record supplies.

(Reuters) – Chesapeake Energy beat Wall Street estimates for fourth-quarter profit on Tuesday as the U.S. natural gas producer tackled weak commodity prices with lower operating expenses. Chesapeake shares fell about 2% in aftermarket trading as …

Canada has secured the surrender of the last remaining permits for oil and gas development off its Pacific Coast, the federal natural resources minister said on Wednesday, after Chevron Canada voluntarily relinquished 23 permits this month. Energy and …

For nearly a year, U.S. natural gas producers have slammed the brakes on production as prices fall. But relentless output gains including from oil companies that pump gas as an oil byproduct have unleashed record supplies. In the oil versus gas contest…

Canadian oil producers expect the discount on their crude to shrink significantly when the Trans Mountain pipeline expansion (TMX) starts this year, but the relief may be short-lived as surging supply looks set to exceed the country’s pipeline capacity…

CALGARY — Canadian-based mining companies that are betting on the global energy transition saw a surge of investor interest in 2023, according to the latest edition of the TSX Venture 50 list. 
The annual ranking of top performers on Canada’s main ven…

India’s Torrent Power and Lanco Group were among the companies emerging as the lowest bidders in an auction to supply natural gas-fired power during periods of unusually high electricity use, a document reviewed by Reuters showed.

First Quantum Minerals (TSX: FM) said on Wednesday it would get a US$500-million shot in the arm from Jiangxi Copper, the Canadian miner’s […]
The post First Quantum inks $500 million copper deal with Jiangxi amid Panama mine struggles appeared f…

Drought Adaptation Planning – Strategic Water Sourcing: 6 Alternatives for Basin Shutdowns Due to the below average snowpack observed over the winter months to date, both Alberta and British Columbia are expected to experience severe drought conditions…

Join Stress Engineering Services Canada at the 2024 International Pressure Equipment Integrity Association (IPEIA) Conference, February 26 – 29, 2024 in Jasper, Alberta Canada. During the conference, IPEIA attendees are invited to stop by Stress Engine…

The cost of Japanese LNG imports in January 2024 fell by 28.8% year/year.

Guyana will delay until 2025 its biggest effort to capitalize on its energy bounty, a $1.9 billion gas-to-power project that was to start this year, using untapped gas to slash electricity costs, a Ministry of Natural Resources consultant said on Tuesday.