Day: April 4, 2024

The European Union has replaced addiction to one form of Russian gas with another. Instead of receiving pipeline gas from Russia from the east, Europe is now using Russian LNG imported in its ports in the west. The EU, which hasn’t sanctioned or banned…

Natural gas futures fell for a second straight session on Thursday, dragged lower by forecasts for benign weather and government inventory data that showed stout supplies in storage. At A Glance: EIA prints 37 Bcf withdrawal Outlook shifts to injections Weather demand softens Coming off a 2.1-cent loss the prior day, the May Nymex gas…

The post Natural Gas Futures Falter After Storage Print Affirms Lofty Supplies; Spot Prices Slide appeared first on Natural Gas Intelligence

Colombia’s national oil company Ecopetrol, regarded as one of the best-managed state-controlled energy companies in Latin America, is still dealing with allegations of murder, extortion, and intimidation. Since the early 2000s, rumors have swirled over…

Virtually all of the capacity at the floating LNG facility has been contracted. [Image credit: Cedar LNG]

North American natural gas futures got a small boost this week on news of weaker production from U.S. operators, but by mid-week the momentum had fizzled. The May New York Mercantile Exchange gas futures contract posted a second day of losses and lost 6.7 cents on Thursday to settle at $1.774/MMBtu. Mexican imports of U.S.…

The post Mexico Natural Gas Market Turns Attention to Elections, Summer Demand – Spotlight appeared first on Natural Gas Intelligence

Tesla’s sales showed a disastrous slump in the first quarter of 2024, with deliveries falling far below even the most pessimistic market estimates. Tesla reported just 386,810 vehicle deliveries, marking the company’s lowest sales quarter since the thi…

Regional natural gas forward prices advanced during the March 28-April 3 trading period as the start of the spring injection season found market bulls searching for signs of green shoots after a bitter winter. May fixed prices at Henry Hub rallied 12.1 cents to $1.845/MMBtu, setting the pace for similar front-month gains across much of…

The post Natural Gas Forwards Entering Shoulder Season in Search of Recovery appeared first on Natural Gas Intelligence

Saudi oil giant Aramco, the world’s top crude oil exporter, hiked on Friday the prices of most of its crude grades for May, as Middle Eastern benchmarks are strengthening in a market that looks increasingly tight.   For a second consecutive month, Saud…

The closing of the merger of Chesapeake Energy and Southwestern Energy, which would create the top U.S. natural gas producer, is being pushed back to the second half of 2024 as the U.S. regulator has asked for additional information in its review of th…

Via Metal Miner  Month-over-month, the Automotive MMI (Monthly Metals Index) exhibited little movement. The index trended sideways, only moving up a slight 0.28%. However, recent events continue to raise questions about the future of the industry, espe…

Small-scale LNG producer Stabilis Solutions Inc. expects the fuel’s use in commercial rocket launches to rapidly expand over the next several years, creating more demand and incentives to grow its liquefaction capacity. Houston-based Stabilis recently disclosed it expects demand for high-purity liquefied natural gas to grow 40% year/year in 2024 as the pace of rocket…

The post Stabilis Looking Up for LNG Expansion Opportunities to Fuel Aerospace Demand appeared first on Natural Gas Intelligence

Shell expects the trading results in its Integrated Gas division to be lower in the first quarter of 2024 compared to an exceptionally strong fourth quarter of 2023, the UK-based supermajor said in an earnings preview on Friday. The trading and optimiz…

The U.S. grid’s vulnerability to cyberattacks has grown, the North American Electric Reliability Corporation has warned. According to the regulator, the number of vulnerability points in the grid had grown from between 21,000 and 22,000 at the end of 2…

Unless you’ve been living under a rock, it won’t have escaped your notice that gold is doing rather well. The safe haven asset has been stirred upwards as conflicts across the world have shown little to no sign of abating, and the four-year-long wait f…

Natural gas futures continued to stumble through midday trading Thursday as the market reaffirmed its initial bearish response to the latest government inventory report. Meanwhile, spot prices were down sharply despite unseasonably cool spring temperatures forecast for the Midwest and East through the weekend. Here’s the latest: May Nymex contract down 5.8 cents to $1.783/MMBtu…

The post Natural Gas Futures Floundering After Storage Disappoints; Cash Weaker — MidDay Market Snapshot appeared first on Natural Gas Intelligence

Crude oil prices were on track to book their second weekly gain in a row, driven higher by geopolitics and supply concerns. Early on Friday morning, Brent was trading above $91 per barrel and West Texas Intermediate was closing in on $87 per barrel. Th…

This week’s episode features CPM Group managing partner Jeffrey Christian in conversation with host Adrian Pocobelli on the red-hot gold market. Christian explains his views on […]
The post TNM Podcast: ‘Gold-tinted glasses’—Jeffrey Christian on …

Uzbekistan is grappling with a natural gas production crunch, putting pressure on state coffers. In February, Tashkent sharply reduced gas supplies to China, according to a March 28 report published by the UzDaily.uz website. The drop in export volume …

Sayona Mining (ASX: SYA; OTCQB: SYAXF) and its JV partner have completed a detailed review of its North American Lithium (NAL) operation […]
The post Sayona NAL review supports continued production appeared first on Canadian Mining Journal.

Management changes announced this week: Doug Beahm is the new COO at Anfield Energy. Atacama Resources International appointed Greg Praver as its […]
The post Mining People:  Atacama, Atex, Cabral Gold, Karus, Palamina, Flying Nickel appeared fir…

At this point Israel’s ties with key Gulf countries like the UAE are near breaking point, after only a few short years ago diplomatic normalization was hailed through Trump’s Abraham accords. But international and Israeli press reports are confirming t…

Tomra Mining, best known for ore sorters that pre-concentrate material before it reaches the processing plant, has released a new YouTube video […]
The post New Tomra video highlights brand vision for sustainability appeared first on Canadian Min…

After months of delays that have sapped the strength of Ukraine’s fight against the Russian invasion, a multibillion-dollar aid bill may soon be headed toward passage by the U.S. Congress, albeit with substantial challenges still in its path. Mike John…

Ford Motor Company is delaying the planned rollout of some of its next-generation electric vehicles (EVs) as it is expanding hybrid vehicle offerings, the car manufacturing giant said on Thursday in the latest sign that consumer uptake of EVs has slowe…

NO. 1: The Biden administration has rejected a proposal from House Speaker Mike Johnson (R-LA) to tie a national security package to a temporary pause on new LNG export authorizations.  Johnson reportedly wanted to advance aid for Ukraine and Israel in exchange for lifting the pause imposed in January by the Biden administration. The administration…

The post Russian LNG Output Reportedly Down Amid Western Sanctions – Three Things to Know About the LNG Market appeared first on Natural Gas Intelligence

It has now been just over a year since the Federal Government of Iraq (FGI) centred in Baghdad imposed an embargo on oil exports from the country’s semi-autonomous region of Kurdistan (KRI) based in Erbil. Over this time, there have been many comments …

Pick axes and coal dust aren’t selling a new generation on jobs in mining. Can the industry clean up its reputation — and act — to meet the demand for critical minerals?

House Republicans are mulling the possibility of linking potential financial aid to Ukraine to LNG export project approvals, people familiar with the matter told Bloomberg on Thursday. While the final wording for the potential aid package for Ukraine h…

The U.S. Energy Information Administration (EIA) on Thursday reported a withdrawal of 37 Bcf natural gas from storage for the week ended March 29. The result fell just shy of expectations and, with inventories still plump and injections on the horizon, left Nymex natural gas futures under pressure. Ahead of the 10:30 a.m. ET government…

The post May Natural Gas Futures Fizzle After EIA Prints 37 Bcf Storage Pull appeared first on Natural Gas Intelligence

Two warmer winters in a row have lifted natural gas inventories in the United States and Europe and have eased concerns about supply, which were sparked by the Russian invasion of Ukraine and the cutoff of most of Russia’s pipeline gas supply to the EU…

Due to the sanctions, Russia cannot access spare parts from Western engineering companies that have provided refinery equipment in the past, leaving Russian refiners struggling to repair damaged units, multiple industry sources in Russia have told Reut…

Heightened calls for environmental, social and governmental improvements in mining and hundreds of standards around the world requires industry-leading software, Onyen CEO […]
The post JV Video: Miners need top software to organize complex ESG, O…

This decision comes as part of Bangladesh’s ongoing efforts to meet its energy demands and ensure the stability of its energy supply.

Companies, governments, and investors need to confront short-term trade-offs and make tough choices to alter the world’s climate change course.The former boss of UK oil supermajor BP has said around £2.7 trillion needs to be invested in sustainable fin…

Enserva launches new portal to train workers and provide long-term employment opportunities By Will Gibson Follow CEC on LinkedIn  CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Canadian energy services association E…

The east coast of Australia will swing into a natural gas surplus later this year even if all LNG producers in the area export all the gas they have no long-term contracts for. This is according to the Australian Competition and Consumer Commission, wh…

Commodity exports from Chile, a top producer of copper and lithium, could be delayed amid a workers’ strike that began early on Thursday, which disrupted loading and unloading of vessels. Members of the UPC and FTPC trade unions started a 24-hour strik…

Perth-based Winsome Resources (ASX: WR1) plans to buy the Renard diamond mine in Quebec and transform the plant to process lithium. The […]
The post Winsome reveals plan to repurpose Renard diamond plant for lithium appeared first on Canadian Min…

Enterprise Product Partners LP has begun service at the Mentone 3 cryogenic natural gas processing plant in West Texas, one of several steps midstream companies are taking this year to add sorely needed takeaway capacity from the Permian Basin. Enterprise’s third processing plant in the Permian’s Delaware sub-basin has a nameplate capacity of 300 MMcf/d…

The post Enterprise Ramps Up Permian Natural Gas Processing; Summit Tests Support to Add Double E Capacity appeared first on Natural Gas Intelligence

There will be layoffs, Ford says The Canadian Press A parking lot with employees’ vehicles is shown at the Ford assembly plant in Oakville, Ont. PHOTO BY NATHAN DENETTE /THE CANADIAN PRESS Ford Motor Co. is delaying the start of electric vehicle …

Click here to listen to the latest episode of NGI’s Hub & Flow, in which NGI Senior LNG Editor Jacob Dick talks with energy and environmental policy expert Chris Treanor, executive director of the Partnership to Address Global Emissions. Treanor discusses some of the policy highlights from CERAWeek by S&P Global and what could be…

The post What Does U.S. Industry Policy Chatter Say About What’s Next for Natural Gas? – Listen Now to NGI’s Hub & Flow appeared first on Natural Gas Intelligence

The comapany will source and supply products and services related to maintenance, repair, and operations. [Image: Craig International]

As natural gas traders and analysts prepared to unpack the latest government inventory report for evidence of tightening balances amid fading springtime production, futures hovered close to even early Thursday. The May Nymex contract was trading at $1.837/MMBtu as of 8:41 a.m. ET, off 0.4 cents. Pre-report predictions early Thursday pointed to a notably larger-than-average…

The post Natural Gas Futures Steady Early as Market Expecting Surplus-Trimming Storage Report appeared first on Natural Gas Intelligence

Royal Bank of Canada’s travails show the fine line banks must walk in shifting toward a lower-carbon future. Bloomberg In November, Dave McKay traveled from his Toronto home to Ottawa, where he accepted a medal from the Royal Canadian Geographical Soci…

(Reuters) – The world added less than half of the new renewable energy capacity needed to meet its climate goals last year, with rising energy demand and weak grid infrastructure slowing the shift from fossil fuels, a leading think tank said on T…

Reuters) – There was no surprise that a top meeting of OPEC+ ministers opted to keep output policy unchanged since the global crude oil market is almost exactly where the exporter group wants it. OPEC+’s ministerial committee on Wednesday k…

(Reuters) – Oil prices were steady on Thursday, shored up by concerns about lower supply as major producers keep output cuts in place and on signs of stronger economic growth in the U.S., the world’s biggest oil consumer. Brent futures for …

The differential of Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) traded in the $12 range on Wednesday, similar to the previous session. WCS for May delivery in Hardisty, Alberta, started trad…

CALGARY, Alberta, April 03, 2024 (GLOBE NEWSWIRE) — Precision Drilling Corporation (Precision or the Company) (TSX:PD; NYSE:PDS) announces today the filing of its Management Information Circular (the Circular) issued in connection with the 2024 Annual …

CALGARY – After four years and more than $34 billion in costs, the Trans Mountain oil pipeline expansion will go into commercial service on May 1. The Crown corporation behind the massive project provided the start date in an update posted to its websi…

Russia’s Novatek is being forced to scale back its huge Arctic LNG 2 project after Western sanctions curbed its access to ice-class tankers, and will focus instead on developing its project at the ice-free port of Murmansk, industry sources said. [Image: Novatek]

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…

U.S. oil production dropped sharply at the start of the year as exceptionally cold weather for ten days in the middle of January caused widespread freeze offs at oil wells.

The top four producers are now three Russian and one Chinese company. Western IOCs, having embraced the green narrative of shifting away from oil and gas, are losing ground.

The announcement comes following an agreement by VTTI, a Dutch energy storage and infrastructure firm, to acquire a majority stake in the terminal. [Image: Adriatic LNG]

Senegal will conduct an audit of the oil, gas and mining sectors, newly elected President Bassirou Diomaye Faye told the nation in a televised speech on Wednesday, while also reassuring investors they were welcome in the country.

Exxon Mobil on Wednesday signaled first-quarter operating results would drop over the prior quarter on weaker oil, gas prices and a big loss in fuel derivatives, a securities filing showed.

Back in 2022, two insurance majors said they would reduce the amount of business they do with Big Oil. Allianz and Swiss Re both motivated the move with their net-zero efforts that they wanted to extend to their clients if they wanted to continue being…