Day: March 26, 2024

After months of skepticism, traders seem to have finally realized that OPEC+ is serious about keeping crude oil supply constrained. Per the latest weekly data from Reuters, as reported by market analyst John Kemp, traders are buying oil at the fastest …

U.S. oil refiner Phillips 66 is exploring a sale of its 25% stake in the Rockies Express Pipeline that it hopes could be worth more than $1 billion, including debt, people familiar with the matter said on Tuesday. The Rockies Express Pipeline (REX) is …

The surge in AI technologies and the massive build-out of data centers in America have had the biggest tech corporations scrambling for grid connection and reliable power supply to power the technologies of the future. Most of the giant corporations wa…

Nymex natural gas futures traded lower ahead of the April contract’s expiration at the close, pressured by a lack of demand and with a storage overhang expected to widen through the shoulder season. At A Glance: April futures down 4.0 cents  May futures near unchanged Texas cash prices rebound The expiring front-month contract rolled off…

The post April Natural Gas Futures End Tumultuous Day Sinking Into Expiration; Cash Up appeared first on Natural Gas Intelligence

Mexican state utility Comisión Federal de Electricidad (CFE) and French multinational Engie SA through its subsidiary Energia Mayakan signed an agreement to double the capacity on the Mayakan natural gas pipeline serving the Yucatán Peninsula. Energía Mayakan will be in charge of the development and construction of the project. The pipeline’s current capacity of 250…

The post CFE, Engie Sign Yucatán Pipeline Deal, Extending Reach of Texas Natural Gas in Mexico appeared first on Natural Gas Intelligence

Authored by Justin Bis via RealClear Wire, The Securities and Exchange Commission is at it again. Straying from its core mission of “protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation,” the SEC is…

Russia is seeing months of delays in payments for its oil exports as banks in its major trader partners, including China, the UAE, and Turkey, are now scrutinizing transactions wary of the tighter U.S. sanctions, numerous unnamed sources with knowledge…

The perils that threaten the continuity of human civilization are so obvious that it is puzzling that so little is being done to counter these perils. In fact, much is being done to hasten their arrival. Climate change, nuclear war, toxic pollution lea…

North Sea oil and gas producer Ithaca Energy has entered into an exclusivity agreement to discuss buying all of the UK upstream business of Italy’s energy major Eni. A deal, if it takes place, will be for substantially all of Eni’s oil and gas assets i…

The United States and South Korea have joined forces to try and stop oil shipments to North Korea that contravene UN sanctions. According to Reuters, the team effort was dubbed Enhanced Disruption Task Force and involved more than 30 officials from the…

Earlier in March, the European Commission sent over the so-called “negotiation framework” for Ukraine and Moldova to European Union member states for approval. The 19-page-document, seen by RFE/RL, covers both countries as they so far are paired in the…

Shoulder season doldrums appeared to be setting in for natural gas futures traders Tuesday, though the April contract was flashing last-minute fireworks on its final day. Meanwhile, cash trading continued to reflect swollen storage levels and underwhelming springtime temperatures. Here’s the latest: April Nymex contract at $1.563/MMBtu as of 2:20 p.m. ET, off 5.2 cents;…

The post Last-Minute Fireworks for Expiring April Natural Gas Futures — MidDay Market Snapshot appeared first on Natural Gas Intelligence

North Sea oil and gas operators should make all reasonable efforts to cut emissions to ensure continued energy production with the lowest possible emissions, or risk not being given consent for field developments, the UK’s North Sea Transition Authorit…

Crude oil inventories in the United States rose this week by 9.337 million barrels for the week ending March 22, according to The American Petroleum Institute (API). The API reported a 1.519-million-barrel drop in crude inventories in the week prior. O…

The Mining Association of Canada (MAC) and The Copper Mark have begun a new collaboration on a pilot project to enhance the […]
The post MAC, Copper Mark team up to enhance transparency and credibility appeared first on Canadian Mining Journal.

Nine Mile Metals (CSE: NINE; OTCQB: VMSXF) has received excellent assays from hole WD-24-02 at the historic Wedge mine in New Brunswick’s […]
The post Nine Mile Metals drills 1.3% copper, 8.8 g/t silver at old Wedge mine in New Brunswick appeared…

Redpath (Australia) Holdings, a wholly owned subsidiary of Redpath Mining, has signed a share purchase agreement to acquire RUC Mining Contractors Pty […]
The post Redpath strengthens Australian presence with purchase of RUC contractors appeared …

Full Circle Lithium (FCL) (TSXV: FCLI; OTCQB: FCLIF), a U.S.-based lithium products manufacturer and recycler with an experienced technical team, is pleased to […]
The post Kill lithium battery fires with extinguishing agent from Full Circle…

Via Metal Miner   The latest steel news and sources from the UK indicate that the Community trade union plans to ballot its members at Tata Steel for strike action. The move comes amid the company’s plans to replace two blast furnaces at the Port Talbo…

West Texas natural gas cash prices remain mired in negative territory amid weak weather-driven demand and a massive supply overhang. Waha cash prices on Monday ticked up a half-cent but still averaged negative 69.5 cents/MMBtu, according to NGI data. The West Texas benchmark has mostly hovered in the red since early March. El Paso Permian…

The post Negative West Texas Natural Gas Spot Prices Persist Amid Stout Supply, Soft Demand appeared first on Natural Gas Intelligence

The amount of Russian oil refining capacity that has been taken offline due to Ukrainian drone strikes is 14% of Russia’s total refining capacity, according to Reuters calculations. Calculations show that 900,000 barrels per day of refining capacity ha…

Be part of IPSS this June as we mark five years of showcasing reconciliation in action at the Vancouver Convention Centre. By Resource Works More News and Views From Resource Works Here In the heart of Vancouver, the Indigenous Partnership Success Show…

The owners of the Whistler Pipeline system and the developers of the planned Rio Bravo Pipeline project are joining forces to connect Permian Basin natural gas supply with Gulf Coast LNG export markets.  WhiteWater Midstream, I Squared Capital, MPLX LP and Enbridge Inc. have agreed to combine Whistler and Rio Bravo in a new joint…

The post Whistler, Rio Bravo Pipeline Owners Teaming Up to Advance Permian-to-Gulf Coast LNG Corridor appeared first on Natural Gas Intelligence

A “more dynamic” price cap could be introduced by Ofgem based on the time of day households use its energy, it has been revealed. The energy regulator has launched a consultation on a range of options for the future of the price cap including on with a…

April Nymex natural gas futures finished their penultimate session in the lead position in the red, with the weather expected to provide a modest bump in demand too late to substantially impact the robust supply. At A Glance: April futures slip 4.4 cents Storage remains an anchor Spot gas mixed by weather The prompt-month contract…

The post April Natural Gas Futures Head Lower Toward Tuesday’s Expiration; Cash Prices Vary appeared first on Natural Gas Intelligence

Enbridge is forming a joint venture to build and operate natural gas pipelines connecting gas supply from the Permian Basin to the U.S. Gulf Coast to tap into growing LNG export demand, the Canadian-based pipeline giant said on Tuesday.    Enbridge has…

“Electric vehicles (EVs) are pilling up on lots across the country as the green revolution hits a speed bump, data show.”~ USA Today, November 14, 2023 “Hertz Global Holdings announced Thursday it planned to cut one-third of its global EV fleet over th…

CALGARY – Parkland Corp. is looking to sell 157 convenience store and fuel station locations across six provinces. The company says the assets up for sale include locations under the Chevron, Ultramar, Pioneer and FasGas brands as well as the On the Ru…

The copper mining industry plays a crucial role in the global economy, with South America being a significant contributor to the world’s copper supply. As the demand for copper continues to grow, driven by the increasing need for renewable energy and electric vehicles, exploration projects in this region have gained momentum along with some of […]

The post Copper Exploration in South America in 2024: Solaris Resources (TSX:SLS), Freeport McMoRan, Lundin Mining appeared first on MiningFeeds.

Chinese EV exports to the European Union slumped by 19.6% in January and February 2024 compared to the same period last year as the EU continues its investigation into whether China’s subsidies are giving its auto manufacturers an unfair advantage over…

Phillips 66 is considering the sale of its 25% stake in a gas pipeline that runs between Wyoming and Ohio, which could fetch over $1 billion. Citing unnamed sources in the know, Reuters said the refiner was currently discussing the divestment with advi…

CALGARY — Enbridge Inc. says it has signed a deal to form a joint venture to help connect Permian Basin natural gas to the U.S. Gulf Coast.
Under the deal, Enbridge will contribute its Rio Bravo pipeline project and US$350 million in cash to the joint…

A twin crisis is unfolding for the administration as the Ukrainian military bombs key crude refineries deep within Russian territory with suicide drones. The administration has pleaded with the Ukranians to halt strikes on Russian energy infrastructure…

In the hardscrabble world of mining, where data is king and machinery reigns supreme, first-time author Catherine Lalut wields not a drill […]
The post The Mine that Fell Asleep in the Goldfields awakens young minds appeared first on Canadian Min…

Joint venture will have interests in pipelines to be connected to NextDecade’s Rio Grande LNG project and Cheniere Energy’s Corpus Christi LNG facility. [Image credit: NextDecade]

The United States and the European Union are at odds over how far a ban on fossil fuel loans and guarantees would extend and haven’t reached an agreement at the latest round of talks within the OECD organization of the most developed nations, sources w…

Temas Resources’ (CSE: TMAS) La Blache titanium-vanadium-iron project in eastern Quebec benefits from being similar to Rio Tinto‘s (NYSE: RIO; LSE: RIO; […]
The post JV Video: Temas Resources plans $1.2B titanium, iron ore mine in Quebec ap…

Goldman Sachs held onto its view to go long on commodities in 2024 which have given a 9% return year to date, which is further expected to rise to 15% by year-end, on cyclical and structural support to demand, and geopolitical risks. The bank forecast …

In what feels like an increasingly bullish oil market, $90 Brent is now a real possibility. While demand uncertainty persists, geopolitical risk, a weakening U.S. dollar, and OPEC+ supply cuts have moved prices higher.- Long positions held by hedge fun…

Bloomberg Private credit managers are doing significantly more fossil-fuel deals now than just a few years ago, as they step into a void left by banks exiting assets they worry pose too big a climate risk. The value of private credit deals in the oil a…

Kremlin-controlled energy giant Gazprom has acquired a 27.5% stake, formerly owned by Shell, in Russian liquefied natural gas (LNG) producer Sakhalin Energy for around $1 billion, according to a government order.

EQT Corp., the No. 1 natural gas producer in the United States, isn’t resting on its laurels. The gas giant is continuing to eye a potential East Coast LNG project, but it’s venturing into the artificial intelligence (AI) market, to gain a slice of the data center power market. Executive Vice President Rob Wingo, who…

The post EQT Eyeing Data Center ‘Gold Rush’ for Natural Gas-Fired Power, Unleashing More LNG appeared first on Natural Gas Intelligence

The Russian government has decided to sell Shell’s minority stake in the Sakhalin LNG project to state-controlled giant Gazprom for $1 billion, reversing a previous decision to have LNG producer and exporter Novatek have the stake which Shell abandoned…

Natural gas markets were bouncing this week after several technical indicators flashed support, including a third week of speculators cutting net short positioning. “April has established near-term technical support in the $1.64 area here in recent days, and with slow stochastics approaching overbought territory, that should offer an additional layer of support as well,” said…

The post Natural Gas Technicals Suggest Price Support as Shorts Cut Bets appeared first on Natural Gas Intelligence

CALGARY — Parkland Corp. is looking to sell 157 convenience store and fuel station locations across six provinces.
The company says the assets up for sale include locations under the Chevron, Ultramar, Pioneer and FasGas brands as well as the On the R…

The second day of natural gas bidweek trading Monday (March 25) saw baseload prices maintain the weakening trend that began Friday, according to NGI’s Bidweek Alert (BWA). Deal volumes slowed somewhat from Friday levels. Bidweek trading concludes on Tuesday. Leading on volume for deals, Dawn in the Midwest saw 80 total deals. Its basis trading…

The post April Natural Gas Bidweek Prices Stay Lower on Second Day of Trade appeared first on Natural Gas Intelligence

FERC last week granted approval for a pair of natural gas pipeline projects, including Enbridge Inc.’s East Tennessee Natural Gas LLC (ETNG) and Williams’ Transcontinental Gas Pipe Line Company Co. LLC, aka Transco. ETNG’s System Alignment (SA) Program is designed to improve reliability in response to shifts in customer demand that have created imbalances on…

The post East Tennessee, Transco Natural Gas Pipes Approved by FERC appeared first on Natural Gas Intelligence

Natural gas futures were trading close to even early Tuesday, with the looming expiration of the April contract thus far failing to produce any fireworks amid depressed pricing at the front of the curve. The April Nymex contract was unchanged at $1.615/MMBtu as of 8:46 a.m. ET. May was off fractionally at $1.787. Analysts at…

The post April Natural Gas Flat in Early Trading Ahead of Expiry appeared first on Natural Gas Intelligence

CALGARY, AB, March 26, 2024 /CNW/ – Enbridge Inc. (“Enbridge”) (TSX: ENB) (NYSE: ENB) announced today that it has entered into a definitive agreement with WhiteWater/I Squared Capital (“WhiteWater/I Squared”) and MPLX LP (“MPLX”) to form a joint-ventur…

Summary Iraq-Turkey pipeline shut since March 2023 Baghdad: around 225,000 bpd being produced without its oversight APIKUR says terms of current contracts must be maintained US encourages restart, State Dept. spokesperson says (Reuters) – Foreign…

The tender entails the co-development, ownership, and operations of LNG import terminal infrastructure and downstream logistics in seven locations within the Sulawesi-Maluku cluster in Indonesia. [Image: AG&P]

By John Kemp LONDON, March 25 (Reuters) – Investors have purchased oil at the fastest rate for more than four years, amid optimism that Saudi Arabia and its OPEC+ allies will continue to restrict production while an improving economic outlook boo…

(Reuters) – Oil was little changed on Tuesday after rising in the previous session as investors took a more mixed view toward the loss of Russian refinery capacity after recent Ukrainian attacks while a slightly weaker U.S. dollar offered some su…

CALGARY, AB , March 25, 2024 /CNW/ – (TSX: PMT) – Perpetual Energy Inc. (“Perpetual”, or the “Company”) is pleased to report its fourth quarter and year-end 2023 financial and operating results, Q1 2024 outlook and a summary of the Company’s year-end 2…

https://www.youtube.com/watch?v=GQVP7B4Xd14 Vancouver, British Columbia – Arras Minerals Corp. (TSX-V: ARK) (“Arras” or “the Company”) is pleased to introduce the results of its soil sampling program over the Aimandai Target, located within its Elemes Project (“Elemes” or the “Project”) in northeastern Kazakhstan. The Elemes project is composed of several mineral licences that are 100% owned by Arras and not included in […]

FREDERICTON, New Brunswick, March 26, 2024 (GLOBE NEWSWIRE) — Nu:ionic Technologies (Canada), Inc. (“Nu:ionic”) has achieved a significant product development milestone with the completion of a continuous 48-hour demonstration run of its propriet…

This acquisition enhances BW LNG’s owned fleet to 34 vessels. [Image: BW LNG]

Northern Star Resources (ASX: NST), the owner of Western Australia’s biggest open-pit gold mine, the Super Pit, is seeking approval for a […]
The post Northern Star seeks to expand the already massive “Super Pit”  appeared first on Canadian…

Credit Agricole, opens new tab said on Monday that it would not provide financing to two major liquefied natural gas (LNG) projects, citing commitments to refrain from new fossil fuel developments.

CALGARY — After more than four years of construction and at least $34 billion in costs, the Trans Mountain pipeline expansion project is nearly complete. Here’s a look at what milestones to expect in the coming weeks as the massive pipeline gets ready…