Day: March 20, 2024

Until recently, large oil companies tended to stay quiet when governments and activists urged them to accelerate the transition from their products to alternative energy sources. Now, this is changing. And it is changing radically. At this week’s CERAW…

Hydrogen produced with renewable power had a significant breakthrough this month, with the signing of an offtake agreement between a European buyer and an Indian producer in Oman. Yara, the Norwegian fertilizer and industrial chemicals producer, entere…

April Nymex natural gas futures’ advance was cut short after two days as weather outlooks that supported gains early in the week shifted warmer midweek. Pressure was added while the market braces for a possible small storage injection in the U.S. Energy Information Administration (EIA) storage data that would further widen the inventory overhang. At…

The post April Natural Gas Price Rally Stifled by Weather Outlook, Possible Storage Build; Cash Prices Mixed appeared first on Natural Gas Intelligence

Lithium has become one of the most sought-after metals in the world as the clean energy transition accelerates around the world. This ‘white gold’ is an integral part of many technologies at the heart of the decarbonization movement, including solar pa…

Opposition candidate Xóchitl Gálvez promises to shake up Mexico’s energy sector if she wins the elections in June. Gálvez would respect the laws of competition as enshrined in the constitution, promote the domestic production of natural gas and renewable energy and work to develop a regional energy strategy, Rosanety Barrios, the head of her energy…

The post Mexico Presidential Hopeful Gálvez Looking to Transform Nation’s Energy Sector appeared first on Natural Gas Intelligence

An emboldened Azerbaijan, backed by Turkey, has changed the balance of power in the South Caucasus in recent years. Baku reclaimed full control over Nagorno-Karabakh, a breakaway region that for three decades had been under ethnic-Armenian control, las…

China’s state-held oil and gas giant CNOOC said on Thursday that its net profit for 2023 slipped by 12.6% from a record-high level in 2022, due to the decline in international oil prices.   CNOOC, which specializes in offshore oil and gas developments …

Via Metal Miner Nickel prices inverted to the upside in February, with an 8.71% month-over-month rise. Following a 3.53% increase during the first weeks of March, prices appeared to stagnate after they found at least a short-term peak on March 13. Over…

As another unseasonable storage result loomed, threatening to further expand an already huge inventory surplus, natural gas futures retreated through midday trading Wednesday. Meanwhile, with snow in the forecast for the Northeast, spot prices there rallied. Here’s the latest: April Nymex contract down 5.1 cents to $1.693/MMBtu as of 2:09 p.m. ET After going as…

The post Storage Glut Pressures Natural Gas Futures; Northeast Cash Climbs — MidDay Market Snapshot appeared first on Natural Gas Intelligence

Congress leaders from the Republican Party have sent a letter to Fatih Birol, the executive director of the International Energy Agency, expressing concern that the IEA has strayed from its core mission of promoting energy security. Senate Energy and N…

Calibre Mining  (TSX: CXB; OTCQX: CXBMF) has embarked on raising $100 million for projects in Canada, the United States, and Nicaragua. A […]
The post Calibre raising $100M to advance projects in Canada, U.S. and Nicaragua appeared first on …

Via The Cradle Israel’s NewMed Energy reported on Tuesday that natural gas exports from the Leviathan field to Egypt increased by 28 percent in 2023. The company reports that the exports jumped from 4.9 billion cubic meters (BCM) in 2022 to 6.3 BCM in …

CALGARY — Crescent Point Energy Corp. says it plans to change its name to Veren Inc. 
The company says it will seek shareholder approval for the change at its annual and special meeting of shareholders on May 10.
It says the name Veren combines the La…

West Red Lake Gold Mines (TSXV: WRLG; OTCQB: WRLGF) has closed its US$22.3 million gold-linked notes offering announced earlier this month. The […]
The post West Red Lake closes US$22.3M gold-linked notes offer for Madsen gold restart appeared fi…

Sandvik has received a major order from Codelco, the world’s largest copper producer, to supply a AutoMineload and haul automation system, for […]
The post Sandvik wins $39.9M automation order from Codelco appeared first on Canadian Mining …

The call to cut the carbon from natural gas and oil, versus eliminating fossil fuels from the energy mix, is gaining supporters, as top energy executives in Houston this week pushed for stakeholders to acknowledge that global demand is growing, while a renewables-only future is unattainable in the near term. In the unofficial energy capital…

The post Natural Gas, Advanced Technology Essential for Successful Transition to Low Carbon, Say Execs appeared first on Natural Gas Intelligence

The threat of attacks by Yemeni Houthis on vessels crossing the Red Sea have added 100,000 bpd to global oil demand as ships choose to divert to a longer route around Africa. This is according to the chief executive of commodity trading major Vitol, Ru…

A substantial decline in LNG prices has led to an increase in purchases on the spot market from Asian buyers, such as China, India, and Southeast Asian nations. According to analysts cited by Reuters, this could see China break its own LNG import recor…

After scrapping oil capacity expansion plans earlier this year, Saudi state oil giant Aramco is now poised to boost natural gas output by 60% by 2030, Reuters reports, citing an Aramco executive on the sidelines of the Houston CERAWeek energy conferenc…

According to a new report, after years of bumper dividends, investors will have to get used to lower cash returns from mining giants such as BHP, Rio Tinto, Anglo American, and Glencore. Analysis from Morningstar published today said that after “many y…

Shell has sold its 50% equity share in SouthCoast Wind Energy, a joint venture set up to develop offshore wind projects off the coast of Massachusetts, as the supermajor continues to divest assets in line with its new strategy to high-grade its renewab…

April Nymex natural gas futures extended gains Tuesday with bulls feeding on near-term weather forecasts that would support a bump in demand and a pullback in the widening of natural gas storage surpluses. At A Glance: Futures add to prior gains Demand boosted by chill Cash gas up, Texas negative The front-month contract settled 4.1…

The post April Natural Gas Futures Finish Higher Supported by Cold; Spot Gas Climbs appeared first on Natural Gas Intelligence

‘Agriculture requires fuel, and it requires lubricants. It requires heat and electricity. Modern agriculture can’t be done without energy’ By Mario Toneguzzi Follow CEC on LinkedIn  CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CE…

Sudan has declared force majeure on crude oil exports from landlocked neighbor South Sudan, following a major rupture in the pipeline carrying crude from South Sudan to a port in Sudan in an area with active military activity.   The latest conflict in …

Private equity firms have rewarded investors handsomely in recent months after divesting more than $30 billion worth of oil and gas assets in the U.S. shale patch in a blockbuster year for American upstream mergers and acquisitions. Buyout firms with o…

China’s imports of fuel oil surged by 21% in January and February compared to the same months in 2023, according to data from the Chinese General Administration of Customs released on Wednesday and reported by Reuters. Fuel oil imports have been rising…

India’s largest refiner, Reliance, has stopped buying crude oil sourced from Russia and carried on tankers owned by Sovcomflot as the U.S. tightened sanction enforcement. The information comes from two unnamed sources familiar with the situation who sp…

MineHub Technologies (TSXV: MHUB; OTCQB: MHUBD) is expanding its partnership with Sumitomo Corporation by integrating the Japanese firm’s refined copper business into […]
The post MineHub expands partnership with Sumitomo by adding refined …

Azincourt Energy (TSXV:AAZ) has announced the mobilization for its winter drill program at the East Preston uranium project located in the Athabasca Basin, Saskatchewan, Canada. VP Exploration, Trevor Perkins, commented in a press release: “Following up the clay alteration in the K- and H- Zones is a high priority. This alteration is what would be […]

The post Winter Drill Program Begins at Azincourt Energy’s (TSXV:AAZ) East Preston Uranium Project appeared first on MiningFeeds.

First shipment should load in May to June Bloomberg News China’s Sinochem Group has purchased one of the first crude cargoes shipped through a new pipeline in Canada, which is designed to move oil from landlocked Alberta to the Pacific Coast for export…

reeport LNG said on Wednesday that trains 1 and 2 at its liquefied natural gas (LNG) facility in Texas are anticipated to be down until May, while train 3 is now back online. [Image: Freeport LNG]

Crude oil prices were trading lower today after the Energy Information Administration reported that U.S. crude oil inventories had shed 2 million barrels in the week to March 15, with gasoline stocks also declining. The crude oil inventory change compa…

CALGARY, AB / ACCESSWIRE / March 20, 2024 / Avila Energy Corporation (“Avila” or the “Company” or “Avila Energy“), trading symbol trading symbol, (CSE:VIK)(OTCM:PTRVF)(FRA:6HG0), is pleased to announce an expected increase in its 3rd Party Processing V…

CALGARY, AB, March 20, 2024 /CNW/ – Source Rock Royalties Ltd. (“Source Rock”) (TSXV: SRR), a pure-play oil and gas royalty company with an established portfolio of oil royalties, announces unaudited operational and financial highlights for fiscal 2023…

Italy’s power grid operator Terna SpA plans a record-high five-year investment of $18 billion (16.5 billion euros) by 2028 to support and accelerate the country’s decarbonization, the company said in the details of its new industrial plan 2024-2028. Mo…

Two of Freeport LNG’s trains at its Texas export facility could be offline intermittently through at least May, the company confirmed Wednesday, after the end of months-long maintenance on Train 3 last week. Feed gas demand and liquefied natural gas production capacity at Freeport has been limited since January after the company disclosed freezing cold…

The post Freeport LNG Confirms More Maintenance, Possible Outages On Two Trains Until May appeared first on Natural Gas Intelligence

Aurion Resources (TSXV: AU) shares rose almost 11% on Tuesday after reporting a greenfields discovery with 70% joint-venture partner B2Gold (TSX: BTO) […]
The post Aurion shares bounce on B2Gold JV discovery in Lapland appeared first on Canadian …

Gasoline prices are on the rise, climbing nearly $0.30/gallon since the beginning of the year. What you may not realize is that this price rise happens nearly every year. In fact, if we look back to 2000, the only time gasoline prices didn’t climb betw…

The limestone carrier combines an LNG-burning gas engine manufactured by Kawasaki Heavy Industries with a battery system.

When people learn that I’m a mining engineer, I’ll normally get perplexed looks and asked what that job is about.    Most never even knew the job existed. So I thought what better way to explain the mining engineer role than by describing the anatomy o…

TotalEnergies SE CEO Patrick Pouyanné said the firm is leaning on its already outsized role as a leader in U.S. LNG to expand its supply chain positions and grow its hub of natural gas projects centered in Texas. TotalEnergies is currently the largest trader of U.S. liquefied natural gas and is the second largest LNG…

The post TotalEnergies Looks to Tap Gulf Coast Foothold to Grow U.S. LNG Business appeared first on Natural Gas Intelligence

Unlike home heating demand amid one of the mildest winters on record, industrial consumption of natural gas is holding relatively steady due to ongoing robust economic activity and energy needs in the U.S. manufacturing sector. Industrial gas demand averaged 24.0 Bcf/d over the 30-day period through last week, according to Wood Mackenzie data. That was…

The post With Enduring Economic Vigor, Industrial Natural Gas Demand Proves Pocket of Strength appeared first on Natural Gas Intelligence

Natural gas futures hovered close to unchanged early Wednesday as modest late-season cooling remained supportive for a market working through a significant storage glut exiting winter. After turning in two straight positive sessions to open the work week, including a 4.1-cent gain on Tuesday, the April Nymex contract was trading flat at $1.744/MMBtu as of…

The post Natural Gas Futures Steady Early as Market Mulls Supportive Late-Season Cooling appeared first on Natural Gas Intelligence

The northern hemisphere has experienced the warmest winter on record, with the unusual warmth concentrated around the Atlantic Basin, which has produced an enormous surplus of gas and slump in prices since October.

  OTTAWA, ON: The Canadian Taxpayers Federation is calling on members of Parliament to vote in favour of today’s motion to cancel the April 1 carbon tax increase. “MPs must prove they are sticking up for their constituents by voting today to cance…

Summary Crude falls from multi-month highs Investors await U.S. Federal Reserve interest rate announcement U.S. crude, gasoline stocks fell last week – API LONDON, March 20 (Reuters) – Oil prices edged lower on Wednesday after hitting multi…

The framework agreement will enable Massy Wood to provide services to support Shell’s onshore and offshore assets.

What’s spring break-up, and why should you care? If you’re experienced in oil and gas, you’re all too familiar with the spring break-up blues! But newbies to the industry might wonder about this term that colleagues are throwing around. Spring break-up…

Ontario and Quebec have major plans for mineral extraction, but First Nations there say they are not being properly consulted and are taking the provincial governments to court.  By Resource Works More News and Views From Resource Works Here The Quebec…

The United States is seeing some “negative signals” regarding Venezuela’s commitment to free elections that could mean sanctions on its oil industry may not be extended, a U.S. State Department official said on Tuesday.

Falling LNG prices and burgeoning electricity demand could see India reprioritise LNG imports for power generation.

Equinor is investing around $6 billion a year in oil and gas exploration and drilling in Norway to maintain steady output levels through 2035, CEO Anders Opedal told Reuters.

New greenfield discovery (Sore) in the NW part of the JV area 26.45 g/t Au over 2.45 m; 1.05 g/t Au over 40.70 m; 1.33 g/t Au over 17.90 m; 1.74 g/t Au over 14.10  m Up to 12.55 g/t Au in trench channel samples No previous drilling within 1.0 km of the Sore discovery Results pending from 4,000 m of diamond drilling Drilling program […]

Argentina could inaugurate its first liquefied natural gas (LNG) project in four years if economic and energy reforms proposed by President Javier Milei are passed by congress soon, the CEO of producer Tecpetrol said on Tuesday.

More funding for future liquefied natural gas (LNG) plants will rely on internal financing instead of the project financing that has paid for most projects to date, Venture Global LNG ‘s CEO said on Tuesday. [Image: Venture Global]

(All financial figures are in Canadian dollars unless otherwise noted) CALGARY, AB, March 19, 2024 /CNW/ – SECURE Energy Services Inc. (“SECURE”) (TSX: SES), announced today that it has entered into an underwriting agreement to sell, pursuant to a priv…

For decades, scientists have come up with estimates of greenhouse gas emission through paper-based calculations of what’s pouring out of smokestacks and tailpipes, as well as based on the amount of energy consumed by end users.  Researchers also use da…