Day: February 29, 2024

CALGARY, AB, Feb. 29, 2024 /CNW/ – CES Energy Solutions Corp. (“CES” or the “Company”) (TSX: CEU) (OTC: CESDF) is pleased to announce strong financial results for the three and twelve months ended December 31, 2023, along with a 20% increase to its qua…

CALGARY, Alberta, Feb. 29, 2024 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to announce the most recent version of the Company’s monthly activity update can be found on the Company’s website at https://www…

CALGARY, Alberta, Feb. 29, 2024 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to report its audited 2023 year-end results and reserves. Athabasca provides investors unique positioning to top tier liqu…

Brazil’s state-owned energy heavyweight Petrobras will be distributing more modest dividends in the future as it prepares to become a renewable energy company. That’s according to chief executive Jean Paul Prates, who spoke to Bloomberg and said that p…

Natural gas futures treaded lightly throughout Thursday’s session as traders weighed a seasonally weak storage result against continued signs of a pullback among producers.  At A Glance: EIA reports 96 Bcf withdrawal Output slips below 102 Bcf/d Weather demand set to fade Following a three-day rally, the April Nymex gas futures contract ultimately settled at…

The post Natural Gas Futures Fail to Sustain Momentum After EIA Prints Lean Storage Result; Cash Called Lower appeared first on Natural Gas Intelligence

Mexico’s Comisión Federal de Electricidad (CFE) wants to develop natural gas storage in South Texas in time for new industrial projects in Mexico that would require stable and increased shipments from the United States. CFE’s international marketing arm, CFE International, has issued a request for proposals (RFP) from interested parties. The RFP is seeking proposals…

The post CFE Looking to Develop Texas Natural Gas Storage as Mexico Import Needs Mount — Spotlight appeared first on Natural Gas Intelligence

Oil and gas upstream majors — ExxonMobil, Shell, Chevron, BP, TotalEnergies and Eni — will continue to exercise caution in exploration spending this year, with drilling activity poised for a busy year ahead. According to Rystad Energy’s research, these…

Regional natural gas forward curves offered hints of a market climbing out of the doldrums for the upcoming injection season, even as many hubs held flattish week/week for April delivery, NGI’s Forward Look data show. Fixed prices at Henry Hub for April delivery added 2.2 cents for the Feb. 22-28 trading period to reach $1.897/MMBtu,…

The post Natural Gas Forward Curves Strengthening for 2024 Amid Signs of Weaker Production appeared first on Natural Gas Intelligence

A closer look at Ottawa’s policy shifts reveals mixed signals on the future of energy.  By Resource Works More News and Views From Resource Works Here For a while there, we thought that Canada – facing enormous demand for more and more electricit…

Oil from Canada supplies more than 23% of U.S. refinery feedstock, helping bolster North American energy security By Ven Venkatachalam Follow CEC on LinkedIn  CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Aerial vie…

President Biden has nominated two Democrats and one Republican to join FERC, which has been perilously short-handed for months. By statute, the Federal Energy Regulatory Commission is to be composed of five people, with no more than three from the same political party. Only three people are serving FERC today, led by Chair Willie Phillips,…

The post Biden Moves to Restore FERC to Five in Nominating Two Democrats, One Republican to Panel appeared first on Natural Gas Intelligence

As its work on the Scarborough LNG project progresses, Woodside Energy Group Ltd. has netted another major Asian customer for the expansion, this time signing on the world’s largest single importers of liquefied natural gas. Woodside has inked an agreement with Korea Gas Corp. (Kogas) to supply 0.5 million metric tons/year (mmty) of LNG on…

The post Woodside Lands Additional Scarborough Customer with Kogas Supply Agreement appeared first on Natural Gas Intelligence

Countries worldwide are accelerating the closure of their coal plants, as governments and private companies plough money into growing the global renewable energy capacity, supporting a gradual transition away from fossil fuels. Coal is expected to be t…

Despite a decline in fossil fuel use in developed economies, global energy-related emissions rose last year to another record-high level as coal use rose in major developing markets hit by low hydropower generation, the latest emissions report by the I…

Demand for petroleum products in China could peak before next year, the research unit of the China National Petroleum Corporation has forecast. The projection is based on expectations that the energy transition will continue gathering speed, eliminatin…

Via Metal Miner   The global nickel mining industry is under stress, and the primary reason is an oversupply of low-cost nickel from Indonesia. Moreover, this constant supply continues to support a major global surplus, placing downward pressure on the…

Natural gas futures fail to rally on supportive storage miss as market still headed for hefty end-of-season inventory cushion April Nymex contract went as high as $1.918/MMBtu after reported 96 Bcf withdrawal for week ended Feb. 23, versus 80s Bcf consensus The front month was off 1.9 cents to $1.866/MMBtu as of 2:21 p.m. ET…

The post No Leap Higher for Natural Gas Futures Despite Storage Miss — MidDay Market Snapshot appeared first on Natural Gas Intelligence

Energos Celsius FSRU provides 6mn tonnes/year of regas capacity. UPDATES with additional detail of second import terminal. [Image credit: New Fortress Energy]

The Schaft Creek joint venture – 75% Teck Resources (TSX: TECK.A, TECK.B; NYSE: TECK) and 25% Copper Fox Metals (TSXV: CUU; OTCQX: […]
The post Schaft Creek JV advances to prefeasibility stage appeared first on Canadian Mining Journal.

New Found Gold (TSXV: NFG; NYSEA: NFGC) has drilled another new discovery at its Queensway gold project 15 km west of Gander, […]
The post Another new discovery – 1,910 g/t over 0.3 metre – for New Found Gold at Queensway project appeared first o…

Management changes announced this week: Advanced Gold Exploration named Andrew Ramcharan president. ATHA Energy appointed Ryan Gaffney as SVP of business development. […]
The post Mining People: Advanced Gold, Core Nickel, Japan Gold, North Arrow…

New Fortress Energy Inc. (NFE) anticipates its offshore Altamira Floating LNG unit could become the first operating Mexican export facility in the coming weeks. After delays that stretched the commissioning process, CEO Wes Edens told analysts during a fourth quarter call that the first volumes of liquefied natural gas were expected to be produced in…

The post Altamira LNG Could Ship First U.S. Natural Gas Cargo from Mexico in April appeared first on Natural Gas Intelligence

Canadian Natural Resources (NYSE: CNQ) is raising its quarterly dividend as it posted consensus-beating earnings for Q4, driven by record-high oil and natural gas production last year. Canadian Natural Resources, the biggest oil and gas producer in Can…

Italy’s Saipem oilfield services company said on Thursday that it was anticipating a 20% fall in orders from Aramco as a result of the Saudi oil giant’s orders from on high in late January to scrap plans for expanding capacity, Reuters reported.  In 20…

This week’s episode features Kimberly Darlington, president and founder of Refined Substance, in conversation with host Adrian Pocobelli about the nature of investor relations in the […]
The post TNM Podcast: Communicating the mining story to you…

Incheon National University scientists have developed a method to improve the stability and properties of lithium ion battery separators with a layer of silicon dioxide and other functional molecules. The study published in Energy Storage Materials dem…

Canada will expedite the approval process for new nuclear projects, but will not exclude them from the federal environmental review as requested by the province of Ontario, Energy and Natural Resources Minister Jonathan Wilkinson said. All new major pr…

Wood Mackenzie has revised its global oil demand forecast downward by 1 million barrels per day to 1.9 million bpd for 2024, with the biggest increases in demand coming from China and India. Citing a Wood Mac briefing during an Energy Institute confere…

Via Middle East Eye Egypt has agreed to a $35 billion deal with the United Arab Emirates to develop the town of Ras el-Hekma town on its northwestern coast, Egyptian Prime Minister Mostafa Madbouly announced on Friday after weeks of speculations. Madbo…

The Environmental Protection Agency has excluded already existing gas-fired power plants from a new regulation that would mandate the installation of carbon capture systems on smokestacks to reduce emissions. “The agency is taking a new, comprehensive …

Utility-scale solar installations in the United States rose by 60% last year, the highest level ever recorded, according to new data. U.S. solar projects grew by 15 GW last year—a 60% increase and the highest jump on record, environmental research grou…

Abitibi Metals (CSE: AMQ; OTC: AMQFF) says its first two drill holes at the B26 polymetallic deposit in northern Quebec bode well […]
The post Abitibi Metals drills 3.5% copper in Quebec appeared first on Canadian Mining Journal.

An oil services company in western Kazakhstan whose operations have been hampered by a strike that began in December has escalated the standoff by announcing that it will dismiss 50 employees involved in industrial action.  The firings, announced by We…

Golden Minerals Company (NYSEA: AUMN; TSX: AUMN) announced Thursday that it has elected to stop silver-gold mining at its Velardeña properties in […]
The post Golden Minerals stops mining at Velardeña two months after restart appeared first on Ca…

Utility-scale solar installations in the United States rose by 60% last year, the highest level ever recorded, according to new data. U.S. solar projects grew by 15 GW last year—a 60% increase and the highest jump on record, environmental research grou…

The U.S. Energy Information Administration (EIA) on Thursday reported a withdrawal of 96 Bcf natural gas from storage for the week ended Feb. 23. The result exceeded market expectations for a pull in the high 80s Bcf and briefly boosted Nymex natural gas futures. Ahead of the 10:30 a.m. ET government print, the April futures…

The post April Natural Gas Futures See-Saw Following Steeper-Than-Expected Storage Draw appeared first on Natural Gas Intelligence

CALGARY, AB, Feb. 29, 2024 /PRNewswire/ – Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX: CPG) (NYSE: CPG) is pleased to announce its operating and financial results for the year ended December 31, 2023. KEY HIGHLIGHTS Transformed…

Hercules Silver (TSXV:BIG) has announced that recent drilling at its Hercules Silver Property in western Idaho has encountered significant silver-lead-zinc mineralization in the shallow holes above the newly discovered Leviathan porphyry copper deposit. The drilling indicates increasing silver grades toward the northwest, moving closer to the Hercules Adit Zone. This trend mirrors the increase in […]

The post Hercules Silver (TSXV:BIG) Intersects Shallow Silver-Lead-Zinc Above Copper Porphyryat the Hercules Adit and Belmont Zones appeared first on MiningFeeds.

Bitcoin surged beyond $63,000 on Wednesday, marking its highest level in over two years, fuelled by a wave of investment into new U.S. spot bitcoin exchange-traded products. This rally, witnessing a remarkable 42% increase this month, is shaping up to …

Fuel oil exports from one of OPEC’s top crude exporters, Kuwait, are estimated to have hit a record-high level in February, as the new Al-Zour Refinery has ramped up fuel processing to full capacity. In February, fuel oil exports from Kuwait reached a …

Crude oil prices are set to end the week with a modest gain on expectations that OPEC+ will extend its production cap deal, tightening supply further. OPEC initially agreed to reduce combined supply by 2.2 million bpd over the first quarter of the year…

Denver-based Ovintiv Inc. has set up its year to avoid natural gas price swings through a hedging program that covers about 50% of volumes. The independent, which operates across the Anadarko, Permian and Uinta basins, as well as the Montney Shale in Western Canada, has a base Nymex price assumption of $2.50/Mcf for 2024. “More…

The post Natural Gas Price Volatility? For Ovintiv, Efficiencies and Hedging Poised as Shield  appeared first on Natural Gas Intelligence

Average daily natural gas supplies to Europe by Russian energy giant Gazprom GAZP.MM were up 4% in February from average January levels and rose by almost 26% from the same month of 2023, Reuters calculations showed on Thursday.

Analysts and energy industry executives are sounding the alarm about underinvestments in oil and gas exploration. This has been going on for years, and it is a recipe for shortages down the road. But despite the industry as a whole spending less money …

CALGARY — Crescent Point Energy Corp. raised its quarterly base dividend by 15 per cent as it reported fourth-quarter net income of $951.2 million compared with a loss of $498.1 million a year earlier.
The company says it will now pay a quarterly bas…

As bearish weather and storage fundamentals weigh on natural gas prices amid oversold conditions, technical indicators are suggesting the potential for the market to pivot higher.  Technical analysts pointed to relatively heavy short positioning and volatile price action, both of which can be a recipe for turnarounds. Still, an upturn may not be immediate, with…

The post Natural Gas Technicals Point to Oversold Market Poised for Price Rally appeared first on Natural Gas Intelligence

Automakers now have one fewer competitor to worry about in a crowded and uncertain arena Bloomberg News The sudden demise of Apple Inc.’s electric-vehicle program is a bleak sign for the car market. It’s also a welcome boon for automakers themselves. A…

Another attempt to phase out natural gas and oil drilling in Colorado is ramping up, but it’s unlikely to advance, Civitas Resources Inc. CEO Christopher Doyle said Wednesday.Doyle helmed a conference call with analysts to discuss fourth quarter results and the outlook for 2024. Most of the discussion centered on the Denver-Julesburg (DJ) Basin in…

The post Effort to End Colorado Natural Gas and Oil Development Going Nowhere, Says Civitas CEO appeared first on Natural Gas Intelligence

Natural gas futures eased lower early Thursday as traders prepared to digest another surplus-padding result from the latest government inventory data, and as the weather outlook continued to offer little encouragement for bulls. The April Nymex contract was off 2.3 cents to $1.862/MMBtu as of 8:48 a.m. ET. May was down 2.1 cents to $2.031.…

The post Lighter-Than-Normal Withdrawal Expected from EIA as Natural Gas Futures Slide appeared first on Natural Gas Intelligence

The disruption in the Red Sea has pushed the amount of crude in transit to a six-month high. Oil analysts and executives from across the industry are starting to sound more upbeat than they have for a while at International Energy Week in London. Speak…

As coal mining soars, coal stocks at India’s power generators have hit their highest-ever level for this time of year despite record coal-fired power production to meet surging demand. Coal-fired power generators had amassed as many as 44 million tons …

CALGARY — Canadian Natural Resources Ltd. raised its quarterly dividend as it reported a fourth-quarter profit of $2.63 billion, up from $1.52 billion a year earlier.
The company says it will now make a quarterly payment to shareholders of $1.05 per …

Summary OPEC+ expected to make a decision in March on output cuts Spare capacity at multi-year highs- analyst For table of crude price forecasts, click Feb 29 (Reuters) – Analysts were less bullish on oil in February for a fourth straight month, …

PCE price index expected to be released at 1330 GMT U.S. crude stockpiles build for fifth straight week Market eyes potential extension to OPEC+ supply cuts LONDON, Feb 29 (Reuters) – Oil prices were little changed Thursday as investors kept thei…

(Reuters) – Shell’s  U.S. solar business Savion has put around a quarter of its assets up for sale, according to a marketing document and industry sources, as the oil major extends a retreat from owning renewables projects under CEO Wael Sa…

The divestment includes 99% gas-fired combined cycle power stations, with 87% operating under the Independent Power Producer regime. [Image: Iberdrola]

CALGARY, Alberta, Feb. 29, 2024 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (“NuVista” or the “Company“) (TSX: NVA) is pleased to announce record-setting reserves and strong financial and operating results for the three months …

  ADJUSTED EBITDA OF $126 MILLION AND $185 MILLION OF FREE CASH FLOW ENGINEERED SYSTEMS BACKLOG OF $1.5 BILLION PROVIDES SOLID VISIBILITY FOR 2024 REPAID $167 MILLION OF DEBT AND REDUCED NET DEBT-TO-EBITDA RATIO1 TO 2.3 TIMES AT YEAR END CALGARY, …

Calgary, Alberta–(Newsfile Corp. – February 29, 2024) – Highlighting a successful 2023, Canadian Natural’s (TSX: CNQ) (NYSE: CNQ) Chief Financial Officer, Mark Stainthorpe, stated “Through the Company’s effective and…

CALGARY, AB, Feb. 28, 2024 /CNW/ – Western Energy Services Corp. (“Western” or the “Company”) (TSX: WRG) announces the release of its fourth quarter and year end 2023 financial and operating results, reducing debt by $17 million in 2023.  Additional in…