Day: March 28, 2024

A pick-up in freight activity around the world is tightening fuel markers and could cause a shortage of diesel that was barely avoided last year due to the slump in industry activity. Moody’s predicted this week that the price of diesel in the United S…

Weekly natural gas cash prices gave up modest ground despite a dose of chilly temperatures and lighter production readings to launch into the spring season.   In a Good Friday holiday-abbreviated week, NGI’s Weekly Spot Gas National Avg. for the March 25-27 trading period shed 5.5 cents to $1.300/MMBtu. Gas during the period was to flow…

The post Weekly Natural Gas Spot Prices, Futures Flounder Amid Mild Weather Outlook, West Texas Weakness appeared first on Natural Gas Intelligence

May Nymex natural gas futures settled 4.5 cents higher Thursday, rallying late as traders considered the implications of a larger-than-anticipated storage withdrawal. At A Glance: May futures up 4.5 cents Storage down 36 Bcf Cash trades for Monday The front-month contract closed the session at $1.763/MMBtu, slipping from a $1.786 intraday high and off the…

The post Natural Gas Futures Stage Late Advance as Market Digests Slightly Bullish Storage Pull  appeared first on Natural Gas Intelligence

The shipping industry and its regulators are drafting tentative pathways to reaching net-zero emissions by 2050. But the emission reduction efforts in the hard-to-decarbonize sector are slowed down by unclear regulation and uncertainty about which clea…

U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row for the first time since mid-January, energy services firm Baker Hughes said in its closely followed report on Thursday. The oil and gas rig cou…

North American natural gas futures found a little momentum on Thursday. The May New York Mercantile Exchange contract settled at $1.763/MMBtu, up 4.5 cents on the day. Earlier in the week, the April contract rolled off the board at $1.575. Despite some momentum in cash prices, the Daily Henry Hub price has not surpassed $2/MMBtu…

The post Mexico Monthly Natural Gas Imports Unchanged Amid Supply Glut in Texas – Spotlight appeared first on Natural Gas Intelligence

India has applied to the International Seabed Authority (ISA) for two new licenses to explore parts of the Indian Ocean sea bed for minerals crucial to the green energy transition. If they are granted, India would hold four contracts, making it the cou…

South Sudan is struggling to get any money in its budget as its oil exports, on which it depends for 90% of state revenues, are stalled by a ruptured pipeline in neighboring Sudan that is the only outlet for South Sudan to sell its crude.    Earlier th…

As an outsized storage surplus continued to hang over the outlook, regional natural gas forward prices shed value during the March 21-27 trading period, NGI’s Forward Look data show. Front month fixed prices at benchmark Henry Hub fell 12.7 cents for the period to end at $1.577/MMBtu. However, the benchmark also saw double-digit losses for…

The post Natural Gas Forwards Continue to Struggle as Market Wrestles with Storage Glut appeared first on Natural Gas Intelligence

There has been increasing talk about the potential for hydrogen flight in recent years, as aviation companies look to decarbonise their operations. As passenger electric flight looks increasingly difficult to achieve, due to the heavy weight of existin…

The domestic natural gas rig count held steady at 112 for the week ended Thursday (March 28), while a decline in oil activity lowered the combined domestic drilling tally by three to 621, the latest Baker Hughes Co. (BKR) data show. The combined oil and gas U.S. rig count for the week, which was 621,…

The post U.S. Natural Gas Drilling Rig Count Flat Week/Week, but Oil Count Down, BKR Data Show appeared first on Natural Gas Intelligence

NO. 1: Japan’s LNG inventories have hit the lowest level in years. Stocks fell 5% week-over-week on March 24 to 1.52 million tons (Mt), according to the Ministry of Economy, Trade and Industry.  Stockpiles are below the five-year average of 2.14 Mt. Jera Co. Inc. was reportedly implementing planned outages at four gas-fired power plants…

The post Japan’s Low LNG Inventories Could Spur Spot Buying – Three Things to Know About the LNG Market appeared first on Natural Gas Intelligence

Chalmers University of Technology researchers have developed an environmentally friendly method for recycling and purifying metals. Using gold earrings from a pawnshop in Gothenburg and biodiesel from the nearest filling station, the discovery could ch…

Natural gas futures were rallying through midday Thursday as the market continued to mull the balance implications of a storage result that landed on the bullish end of expectations. Cash prices, traded for Monday delivery, were generally pushing higher. Here’s the latest: May Nymex contract up 4.8 cents to $1.766/MMBtu at around 2:10 p.m. ET,…

The post Natural Gas Futures Finding Second Wind — MidDay Market Snapshot appeared first on Natural Gas Intelligence

The winners of the Young Mining Professionals’ (YMP) Eira Thomas and Peter Munk Awards for 2024 are Scott Berdahl of Whitehorse and […]
The post Scott Berdahl and Ella Cullen named Young Mining Professionals of the Year appeared first on Canadian…

This week’s episode features a discussion between Association for Mineral Exploration president and CEO Keerit Jutla and host Adrian Pocobelli on the latest developments concerning British […]
The post TNM Podcast: ‘A chair at…

CALGARY, AB: The Canadian Taxpayers Federation is calling on Prime Minister Justin Trudeau to scrap the carbon tax, which is set to increase April 1. “Alberta families are fighting to afford food and home heating and the last thing they need is Trudeau…

Calibre Mining (TSX: CXB; OTCQX: CXBMF) has signed a key pre-commissioning and commissioning agreement with Reliable Controls (RCC) for the Valentine gold […]
The post Calibre inks commissioning contract for Valentine gold mine appeared first on …

Management changes announced this week: The new CFO at Goldmoney  is Sean Ty. LiTHOS Group promoted Joe Fuqua to COO and corporate […]
The post Mining People: BHP, LiTHOS, Montage, Adventus, Orex Minerals, New Gold, Copper Fox appeared first on C…

A lot of Europeans will be passing through Turkmenistan this year. So says Foreign Minister Rashid Meredov. Meredov last week embarked on a five-day trip that took in Belgium and Italy. In Brussels, he met with an array of important euro-panjandrums, i…

Fleet Space Technologies added three new features to their mineral exploration technology, ExoSphere by Fleet – designed to enhance and accelerate data-driven […]
The post Fleet Space beefs up Exosphere program to speed up exploration appeared fi…

Record oil production. Booming exports. Rapid jobs growth. Soaring CEO pay and shareholder returns. Almost no matter the metric, the U.S. oil and gas industry has flourished under President Joe Biden, even though his administration has pushed hard to t…

By Kenneth P. Green, Ross McKitrick, Elmira Aliakbari With the federal carbon tax set to rise from $65 to $80 per tonne on April 1, two new essays—published  by the Fraser Institute—make two opposing arguments, to retain the tax (after fixing it) and t…

University of Nottingham researchers have successfully transformed CO2 into methanol by shining sunlight on single atoms of copper deposited on a light-activated material, a discovery that paves the way for creating new green fuels. The international t…

Russia vetoed on Thursday a UN Security Council proposal to extend the mandate of a UN panel that monitors the implementation of the sanctions against North Korea, as Moscow and the West continue to grow apart in international affairs.  The proposal of…

More than 40% of Citigroup’s clients lack a “substantive plan” for cutting their emissions to align with net-zero ambitions or are unlikely to transition at all, the bank’s latest climate report showed. The report, published earlier this week, is based…

More than 40% of Citigroup’s clients lack a “substantive plan” for cutting their emissions to align with net-zero ambitions or are unlikely to transition at all, the bank’s latest climate report showed. The report, published earlier this week, is based…

Indonesia plans to boost its nickel production despite falling prices resulting from ample supply that are forcing some miners to shut down mines. Per plans, battery-grade nickel production in Indonesia should increase fourfold by 2030, to 1 million to…

A group of warships from Russia’s Pacific Fleet have crossed the Bab el-Mandeb Strait and have entered the Red Sea, Russian state media reported on Thursday, citing the press service of the Pacific Fleet. The area is crowded with ships from Western Nav…

Natural gas futures trimmed early gains Thursday following the U.S. Energy Information Administration (EIA) storage report, which outlined a larger-than-anticipated 36 Bcf withdrawal for the week ended March 22.  Ahead of the 10:30 a.m. ET release of the latest storage data, May New York Mercantile Exchange natural gas futures were trading 2.0 cents higher day/day…

The post Natural Gas Futures Gains Diminished as EIA Reports Storage Draw Above Expectations appeared first on Natural Gas Intelligence

Tilbury Marine Jetty will allow for LNG bunkering in Port of Vancouver.

Mongolia-focused precious metals miner Steppe Gold (TSX: STGO; US-OTC: STPGF) sees 2024 as a transformative year. The company is set to develop […]
The post JV Video: Steppe CEO on becoming Mongolia’s largest gold miner appeared first on Canadian…

Rising crude imports from Russia in Asia’s top importers, China and India, are estimated to push total Asian oil imports to a 10-month high in March, per data from LSEG Oil Research reported by Reuters columnist Clyde Russell. This month, higher arriva…

Rising crude imports from Russia in Asia’s top importers, China and India, are estimated to push total Asian oil imports to a 10-month high in March, per data from LSEG Oil Research reported by Reuters columnist Clyde Russell. This month, higher arriva…

Rising crude imports from Russia in Asia’s top importers, China and India, are estimated to push total Asian oil imports to a 10-month high in March, per data from LSEG Oil Research reported by Reuters columnist Clyde Russell. This month, higher arriva…

Rising crude imports from Russia in Asia’s top importers, China and India, are estimated to push total Asian oil imports to a 10-month high in March, per data from LSEG Oil Research reported by Reuters columnist Clyde Russell. This month, higher arriva…

Premium Nickel Resources (TSXV:PNRL) (OTCQX: PNRLF) recently shared updates on its ongoing drill program at the Selebi North underground (SNUG) mine in Botswana, a site known for its nickel-copper-cobalt sulphide (Ni-Cu-Co) deposits. This follows previous announcements between November 14, 2023, and March 5, 2024, which reported results from 42 drillholes. The latest update includes results […]

The post Premium Nickel Resources (TSXV:PNRL) Announces Significant Nickel Assay Findings at Selebi North Mine appeared first on MiningFeeds.

Water is not only the basis of life for animals and plants, but is also likely to become a contested resource in parts of the world in the coming decades. According to UN figures, global water stress, i.e. the proportion of water withdrawn for use in i…

Britain’s greenhouse gas (GHG) emissions fell by 5.4% in 2023, government data showed on Thursday, with less gas used to generate electricity and heat homes.

Ukrainian natural gas storage operator Ukrtransgaz JSC said a Russian attack on its infrastructure caused no major damage, but withdrawal capacities at the facility would be limited until repairs are completed. Natural gas withdrawals were halted after the strike on Sunday (March 24). However, the company was able to compensate for the limited withdrawals with…

The post Attack on Ukrainian Storage Site Pushes European Natural Gas Prices Higher appeared first on Natural Gas Intelligence

A refinery in southwestern Russia owned and operated by state oil giant Rosneft has been taken offline and all production stopped, due to damage following a drone attack from Ukraine last week, Reuters reported on Thursday, quoting sources in the indus…

Houston, the nation’s fourth largest city and one that built its fortune in oil, natural gas and petrochemicals, is now a mecca for entrepreneurs out to make the next great no-carbon technology.  The city remains the place to forge oil and gas deals, as thousands of energy companies, large and small, have their headquarters in…

The post Tudor Champions Houston to Lead Charge for Decarbonizing Oil, Natural Gas appeared first on Natural Gas Intelligence

More than 20% of the total global refining capacity is at some risk of closure as refining margins are set to weaken alongside demand, while carbon taxes could also burden many refiners, Wood Mackenzie has said in a recent report. Overall, based on exp…

Commissioned in 2000, the Eastern gas pipeline has historically transported gas from Bass Strait in Victoria to the New South Wales and Sydney market.

Think U.S. natural gas consumption is declining? Think again. In some parts of the country, efforts to stem the growth of natural gas have gone askew, a signal that the future of the abundant, low-carbon fuel may not be in jeopardy. The fact is, consumers like natural gas, American Gas Association (AGA) CEO Karen Harbert…

The post U.S. Residential, Commercial Demand for Natural Gas Rising, Says AGA’s Harbert appeared first on Natural Gas Intelligence

Weak natural gas prices are weighing on the minds of oil and gas executives, but the outlook is not all bearish, according to a new survey by the Federal Reserve Bank of Dallas, aka the Dallas Fed. “Natural gas is currently pricing at or below costs of production,” said one respondent from an exploration and…

The post E&Ps ‘Keeping Powder Dry’ Amid Low Natural Gas Prices, LNG Uncertainty, Says Dallas Fed  appeared first on Natural Gas Intelligence

Natural gas futures hovered close to unchanged early Thursday as traders awaited updated government inventory data that was expected to reveal a weekly withdrawal in line with historical norms. The May Nymex contract was up 0.2 cents to $1.720/MMBtu as of 8:41 a.m. ET. June was trading at $1.957, up 0.4 cents. Predictions ahead of…

The post Natural Gas Futures Steady Ahead of EIA Data; Pleasant April Temps on Tap appeared first on Natural Gas Intelligence

Russia’s pledge to cut output has sparked talk of a return to triple digits, but there are obstacles ahead.  – Oil prices have the potential to rally to $100 a barrel by the end of the Northern Hemisphere’s summer, but there’s a lot that could se…

Bloomberg US oil prices are more than high enough to make drilling new wells profitable but some shale bosses say they’re hesitant because of political and regulatory “uncertainty” that won’t be settled until the November election, according to the Fed…

Despite a court ruling late last year, which deemed the Trudeau government ban on single-use plastic (cutlery, straws, grocery bags, etc.) “unreasonable and unconstitutional,” the ban essentially remains in place pending appeal or further regulatory ac…

Endeavour Mining (TSX, LON: EDV) has concluded an internal investigation into former chief executive Sébastien de Montessus’ financial dealings while at the post, […]
The post Endeavour’s probe into former CEO finds $15m of “disguised” payments a…

To boost its energy transition efforts, India is betting on acquiring lithium and copper assets overseas and is sending a delegation to search for such resources in Chile, a top producer of both critical minerals, Reuters reported on Thursday, citing a…

Oil prices will gain some momentum this year as demand picks up and output curbs by the OPEC+ producer group continue to squeeze supply that is already being pressured by military conflicts, a Reuters poll showed on Thursday.

CALGARY, AB, March 28, 2024 /CNW/ – Tenaz Energy Corp. (“Tenaz”, “We”, “Our”, “Us” or the “Company”) (TSX: TNZ) is pleased to announce financial and operating results for the three months and year ended December 31, 2023. The related audited consolidat…

(Reuters) – Oil prices edged up on Thursday, following two consecutive sessions of decline, as investors reassessed the latest data on U.S. crude oil and gasoline inventories and returned to buying mode. Brent crude futures for May were up 40 cen…

(Reuters) – More than a fifth of global oil refining capacity is at risk of closure, energy consultancy Wood Mackenzie found in analysis published on Thursday, as gasoline margins weaken and the pressure to reduce carbon emissions mounts. Of 465 …

Summary Brent forecast raised to $82.33 a barrel for 2024 WTI projection lifted to $78.09 a barrel First upward revision in 2024 price forecasts since October (Reuters) – Oil prices will gain some momentum this year as demand picks up and output …

This acquisition, initially disclosed in 2022, encompasses Tokyo Gas’ stakes in the Gorgon LNG, Pluto LNG, and Queensland Curtis LNG projects.

Each week Josef Schachter gives you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold  newsletter covering the general energy market and 36 energy, energy service and pip…

The Biden administration on Wednesday said it had finalized rules aimed at limiting methane leaks from oil and gas drilling on public lands.