Month: April 2024

The revenue was up 7% quarter/quarter, however. [Image: APLNG]

Investors sold oil at the fastest rate for more than six months amid signs that Israel and Iran have chosen not to escalate their conflict, ensuring the rally in crude prices stalled well before reaching $100 per barrel.

Reports on what authors like to call the end of the oil era were a frequent reading some 20 years ago. At the time, the focus was peak supply and the consequent need to find alternatives to the fuel that powers the world. Now, 20 years later, there is …

CALGARY, AB, April 29, 2024 /CNW/ – Topaz Energy Corp. (TSX: TPZ) (“Topaz” or the “Company”) is pleased to provide first quarter 2024 financial results and confirm the Company’s 2024e guidance estimates.  Select financial information is outlined below …

Perhaps even more than its targeting of Russian oil exports, the U.S. has been laser-focused on its liquefied natural gas (LNG) sector as they key area it wants to effectively destroy over the long term. Last week’s suspension of Russia’s flagship Arct…

By Tegan Hill and Jake Fuss According to the recent federal budget, the Trudeau government plans to increase the inclusion rate from 50 per cent to 66.7 per cent on capital gains over $250,000 for individuals and on all capital gains realized by corpor…

Much lower natural gas prices this year compared to 2023 dragged down profits at some of the largest oil and gas companies, which have so far reported a mixed bag of earnings for the first quarter of 2024. U.S. supermajors ExxonMobil and Chevron, as we…

Natural gas futures pushed higher on Monday, boosted by a full restart of Freeport LNG’s third train, supply interruptions in the Permian Basin and expectations for a below-average storage injection. At A Glance: June takes over as front month Freeport restarts third train NGI models 56 Bcf injection The June Nymex contract settled 10.7 cents…

The post Natural Gas Futures Rally Above $2 on LNG Rebound, Supply Slowdown; Cash Jumps appeared first on Natural Gas Intelligence

Mexico’s state power utility Comisión Federal de Electricidad (CFE) highlighted the expansion of its natural gas marketing business and partnerships with the private sector in a series of recent updates.  In addition to its role as Mexico’s largest generator and distributor of electricity, CFE is the country’s primary importer and marketer of natural gas via…

The post Mexico’s CFE Touts Private Sector Natural Gas Partnerships as Pipeline Imports Grow appeared first on Natural Gas Intelligence

The pictures didn’t necessarily say a thousand words, but they might have gotten at least that many laughs. One showed British Foreign Secretary David Cameron bursting birdlike through the entrance of a traditional Turkmen yurt at a museum in Ashgabat….

All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta, April 29, 2024 (GLOBE NEWSWIRE) — Gibson Energy Inc. (TSX:GEI) (“Gibson” or the “Company”) announced today its financial and operating results for the three months e…

The global upstream industry could see dealmaking worth another $150 billion throughout the remainder of the year, with focus shifting to shale plays in U.S. other than the Permian Basin, analysts at Rystad Energy said in a report. M&A activity in …

Via Metal Miner India has ended the financial year 2023-2024 as a net importer of finished steel, which has sent the alarm bells ringing in industry circles throughout India. Mainly, insiders want to know how the changing import status might affect ste…

So far this year, the global upstream oil and gas market has seen more than $64 billion in mergers and acquisitions, and the year could still see more mega-deals, according to the latest report from Rystad Energy on Monday.   While recent deals have fo…

With an enabling regulatory environment, a world-class legal system, multifarious global connections and access to incredible talent and skills, the Square Mile is perfectly placed to help the Gulf nations achieve their green ambitions, says Michael Ma…

Venture Global LNG Inc. is looking to import at least three liquefied natural gas cargoes to aid in commissioning of Plaquemines LNG, according to a Department of Energy (DOE) filing.

The post Venture Global Aims for Plaquemines LNG First Production By Summer – The Offtake appeared first on Natural Gas Intelligence

European and Asian natural gas prices fell Monday as supply constraints eased, mainly at Freeport LNG on the upper Texas coast, which has restarted one of its three trains. Feed gas flows to the facility ticked upward over the weekend and were nominated Monday at nearly 800 MMcf/d, or their highest level in three weeks.…

The post Freeport Restart Pushes Global Natural Gas Prices Lower – LNG Recap  appeared first on Natural Gas Intelligence

With recovering flows to the Freeport LNG terminal bringing out the bulls, natural gas futures were rallying through midday trading Monday. Spot prices were climbing off the lows recorded for delivery over the weekend. Here’s the latest: June Nymex futures up 9.3 cents to $2.016/MMBtu as of 1:58 p.m. ET With slow stochastics “in extreme…

The post Natural Gas Futures Rallying as Freeport Volumes Return — MidDay Market Snapshot appeared first on Natural Gas Intelligence

Iraq will see first natural gas production at its supergiant West Qurna field by the end of this year, Iraqi News reports, citing the Iraqi prime minister and federal energy authorities on Monday.  ExxonMobil withdrew from southern Iraq’s West Qurna 1 …

Iraq will see first natural gas production at its supergiant West Qurna field by the end of this year, Iraqi News reports, citing the Iraqi prime minister and federal energy authorities on Monday.  ExxonMobil withdrew from southern Iraq’s West Qurna 1 …

Iraq will see first natural gas production at its supergiant West Qurna field by the end of this year, Iraqi News reports, citing the Iraqi prime minister and federal energy authorities on Monday.  ExxonMobil withdrew from southern Iraq’s West Qurna 1 …

Iraq will see first natural gas production at its supergiant West Qurna field by the end of this year, Iraqi News reports, citing the Iraqi prime minister and federal energy authorities on Monday.  ExxonMobil withdrew from southern Iraq’s West Qurna 1 …

IsoEnergy (TSXV: ISO; OTCQX: ISENF) and the Ya’thi Néné Lands and Resources Office (YNLR) are pleased to announce they have entered into […]
The post IsoEnergy, Ya’thi Néné Lands to collaborate in Athabasca Basin appeared first on Can…

Ucore Rate Metals (TSXV: UCU; OTCQX: UURAF) has deemed a 26-tonne sample of mixed rare earth carbonate (MREC) from the Wicheeda mine […]
The post Ucore says Wicheeda rare earth carbonate suitable for commercial-scale processing appeared first on …

Canadian Gold (TSXV: CGC) released high-grade intersections from the second phase of drilling at the former Tartan gold mine 12 km northeast […]
The post Canadian Gold cuts high grades at former Tartan mine, Manitoba appeared first on Canadian Mi…

Denarius Metals (Cboe CA: DMET;  OTCQX: DNRSF) has entered into an agreement with Red Cloud Securities in connection with a best efforts […]
The post Denarius launches $20M gold-linked debenture units for mine in Spain appeared first on Cana…

The Gulf of Mexico (GOM) for decades was the breadbasket for U.S. natural gas and oil production, but the Lower 48 took over as unconventional drilling uncorked massive reserves. As onshore activity has waned, however, the deepwater is once again beckoning. Enverus Intelligence Research (EIR) director Andy McConn recently shared the firm’s outlook about the…

The post Lower 48 E&P Activity Waning but Renewed Opportunities Seen in Deepwater GOM appeared first on Natural Gas Intelligence

Japanese authorities may intervene again in the currency market this year as U.S. interest rates are expected to remain high.The Japanese Yen strengthened sharply overnight after crashing to its lowest level since April 1990, breaking 160/USD. The FT r…

WOODSTOCK, N.B. — Police officers across New Brunswick are no longer investigating thefts of fuel from service stations unless there is a threat to public safety.
Earlier this month, the New Brunswick Association of Chiefs of Police sent a letter to …

April 29, 2024 / Guanajuato Silver Company Ltd. (the “Company” or “GSilver“) (TSXV:GSVR)(OTCQX:GSVRF) is pleased to announce an upsizing of its previously announced brokered, best-efforts offering (“Offering“) for an additional C$2,250,000 under a private placement to accredited investors (“Private Placement“). The aggregate gross proceeds to the Company will now be up to C$10,875,000 under the combined […]

Reliance Industries has bought 2 million barrels of Canadian crude from Shell for July delivery, marking the Indian refiner’s first oil purchase from Canada’s new Trans Mountain pipeline, trade sources said. Reliance joins a growing group of Asian refi…

Cheryl Gomez-Smith to succeed Simon Younger effective May 1, 2024 Simon Younger appointed Lead Country Manager and General Manager Australia Conventional, ExxonMobil Upstream CALGARY, Alberta–(BUSINESS WIRE)–Imperial (TSE: IMO, NYSE American: IMO) anno…

Introducing a digital pound could earn the Treasury tens of billions through increased seigniorage revenue, a new report has argued. Research from Positive Money estimates that, by 2029, the government could gain around £15bn a year if 20 per cent of b…

Canada’s Trans Mountain pipeline expansion (TMX) is set to enter partial operation on May 1, years behind schedule and at more than four times the original cost – but with the potential to affect oil flows even outside North America. Canada, the world’…

UK-based International Group of P&I Clubs, a global insurance company, says a growing shadow fleet is making it less and less viable to police the G7 price cap on Russian oil, Bloomberg News reports, citing a briefing to the UK government.  The UK-base…

So far this year, the global upstream oil and gas market has seen more than $64 billion in mergers and acquisitions, and the year could still see more mega-deals, according to the latest report from Rystad Energy on Monday.   While recent deals have fo…

Battery storage was the fastest-growing energy technology in the power sector in 2023, with deployment more than doubling year-on-year, the International Energy Agency (IEA) has revealed.  Strong growth was recorded for utility-scale battery projects, …

Delivery of the 18 QC-Max size LNG vessels is scheduled between 2028 and 2031, with eight vessels to be delivered in 2028 and 2029. [Image: QatarEnergy]

UK-based International Group of P&I Clubs, a global insurance company, says a growing shadow fleet is making it less and less viable to police the G7 price cap on Russian oil, Bloomberg News reports, citing a briefing to the UK government.  The UK-base…

As India is set to become the world’s largest oil demand growth driver in the coming years, Indian state-owned refiner Chennai Petroleum Corporation Limited (CPCL) plans to commission a new refinery two years later than initially planned by 2025.    CP…

CHEYENNE, Wyo., April 29, 2024 /PRNewswire/ — U.S. Gold Corp. (“U.S. Gold,” the “Company,” “we,” “our” or “us”) (NASDAQ: USAU), today announced the results of the Company’s annual shareholder meeting that was held virtually on April 26, 2024 at 9:00 AM MT. The following proposals were approved by the Company’s shareholders at the meeting: Election of five […]

Tesla shares jumped in premarket trading in New York after Bloomberg reported that Beijing had given Tesla the ‘greenlight’ to roll out its driver-assistance system, known as “Full Self-Driving,” or FSD, in the world’s largest car market. Sources say T…

Ukrainian President Volodymyr Zelenskiy said a Russian attack on his country’s energy sector on Saturday had targeted gas facilities important for supply to the European Union.

Abitibi Metals (CSE: AMQ; US-OTC: AMQFF) says a new copper target west of its B26 polymetallic deposit in northern Quebec shows potential for […]
The post Abitibi Metals probes new copper area at B26 in Quebec appeared first on Canadian Mini…

Brazil Potash through its wholly-owned subsidiary Potasssio do Brasil, has been granted three additional Installation Licenses (LIs) by the Amazon State Environmental Protection Agency (IPAAM) for the construction of the Autazes Potash Project in Autazes, located 112 km from Manaus. The licenses, issued on April 26th, cover the construction of a river port on the […]

The post Brazil Potash Moves Forward with Autazes Project as IPAAM Grants Three Additional Installation Licenses appeared first on MiningFeeds.

As India is set to become the world’s largest oil demand growth driver in the coming years, Indian state-owned refiner Chennai Petroleum Corporation Limited (CPCL) plans to commission a new refinery two years later than initially planned by 2025.    CP…

PetroChina reported on Monday its highest net profit for a first quarter as its revenues rose by 11% thanks to steady oil prices and higher domestic natural gas demand and production.     The Chinese state-held oil and gas giant booked $6.3 billion (45…

Century Lithium’s (TSXV: LCE; OTCQX: CYDVF) 100% owned Clayton Valley project in Nevada has now reached the feasibility stage after more than two years […]
The post Century Lithium shares down despite Clayton Valley project feasibility mile…

Saudi Aramco is currently eyeing potential investments in new energies outside Saudi Arabia, the state oil giant’s chief executive officer Amin Nasser said on Monday. Aramco’s top executive was speaking on the sidelines of the Special Meeting on Global…

TotalEnergies SE said Friday that its LNG sales decreased in the first quarter mainly due to lower demand in Europe and an unplanned outage at the Freeport export terminal on the upper Texas coast.  The company has 2.2 million tons (Mt) of annual tolling capacity at Freeport’s Train 3, which was offline most of the…

The post Freeport Outage Cuts Into TotalEnergies’ First Quarter LNG Sales appeared first on Natural Gas Intelligence

With mild weather on tap and natural gas supply remaining stubbornly high, baseload natural gas prices for May stayed depressed on Friday (April 26), the third day of bidweek trading, according to NGI’s Bidweek Alert (BWA). Activity trickled lower on the last day of bidweek trade for May baseload flows, with the Midwest and Midcontinent…

The post May Natural Gas Bidweek Ends with Whimper; Demand Too Weak to Trim Robust Supply appeared first on Natural Gas Intelligence

The company said that reserves can be rapidly developed to meet eastern Australian gas and electricity market demand.

Canadian miner First Quantum Minerals (TSX: FM) has decided to shut down its Ravensthorpe nickel operation in Western Australia. The company halted production […]
The post First Quantum to shut down Ravensthorpe nickel mine appeared first on Cana…

Chevron Corp.’s domestic operations, particularly in the Permian Basin, performed “stronger than we had anticipated” in the first quarter, with improved cycle times and natural gas and oil output, CEO Mike Wirth said Friday. During a conference call to discuss quarterly performance, Wirth explained to analysts how the Permian portfolio improved as the wellhead-to-sales times…

The post Chevron’s Permian Operations See Improvements in ‘Frack-to-Pop Cycle Times’ appeared first on Natural Gas Intelligence

Supplies of natural gas in storage are stout everywhere, but East region inventories are closer to historical norms than any other section of the Lower 48. Should the densely populated Northeast sizzle amid scorching temperatures as forecast this summer, utilities in the heavy-gas consuming corner of the country could burn through more gas in the…

The post Could Summer Demand, Lower Production Curb East Region Natural Gas Inventory Surpluses? appeared first on Natural Gas Intelligence

Natural gas futures clawed back some of their recent losses early Monday as soft production and hints of strengthening export demand supported prices. Coming off a 6.3-cent sell-off in Friday’s session, the June Nymex contract was up 2.3 cents to $1.946/MMBtu at around 8:45 a.m. ET. The May contract rolled off the board late last…

The post LNG Uptick, Production Weakness Nudge Natural Gas Futures Higher Early appeared first on Natural Gas Intelligence

Namibia’s national oil company has signed a development deal with Chevron that will see the U.S. oil major take an 80% operating working interest in an offshore block in the Walvis Basin, it said on Monday.

(Reuters) – Oil prices were little changed on Monday as Israel-Hamas peace talks in Cairo tempered fears of a wider conflict in the Middle East, while U.S. inflation data dimmed the prospects of interest rate cuts anytime soon. Brent crude future…

CALGARY, Alberta, April 27, 2024 (GLOBE NEWSWIRE) — Prospera Energy Inc. (”Prospera“ or the ”Corporation”) (PEI: TSX-V; OF6A:FRA) announced that it has agreed to settle claims from a former executive by the payment of $120,000 over a period of 6 months…

Calgary, Alberta–(Newsfile Corp. – April 29, 2024) – Green Impact Partners Inc. (TSXV: GIP) (“GIP” or the “Company”) today reported its results for the year ended December 31, 2023. GIP is a developer, builder,…