Day: April 5, 2024

The differential of Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened on Friday. WCS for May delivery in Hardisty, Alberta, began trading at $12.85 per barrel below WTI and ended at $13 un…

All major North Sea oil countries are expected to continue drilling for oil and gas as they fail to agree on climate measures. The major oil-producing countries operating in the North Sea have all announced ambitious production goals for the coming yea…

Weekly natural gas cash prices gained ground overall amid a rash of chilly northern temperatures, but pockets of weakness, particularly in West Texas, tempered the advance. NGI’s Weekly Spot Gas National Avg. for the April 1-5 period rose 16.0 cents to $1.460/MMBtu. As the trading week culminated, leading gainers included Michigan Consolidated, up 25.0 cents…

The post Weekly Natural Gas Spot Prices, Futures Uneven Amid Mixed Fundamentals appeared first on Natural Gas Intelligence

First it was a group of children in Montana. Then, in Portugal, a group sued their local governments for allowing climate change to happen. The Montana group even won. It’s open season for suing governments—and Big Oil. Of course, the supermajors have …

Natural gas futures found fresh footing on Friday, supported by expectations for an ongoing production pullback as well as economic vigor that continues to support industrial energy demand. At A Glance: Output holds under 100 Bcf/d Inventory surplus narrows  Weather forecast favors bears The May Nymex gas futures contract gained 1.1 cents day/day and settled…

The post Natural Gas Futures Finish Trading Week on Positive Note, Bolstered by Supply Cuts; Cash Prices Cascade appeared first on Natural Gas Intelligence

While other international majors are closing down refineries or converting them to biofuel production, ExxonMobil is expanding its UK site and will start delivering diesel from the expanded Fawley refinery in early 2025. ExxonMobil is investing $1 bill…

Via Metal Miner Month over month, rare earth metals witnessed new price lows not seen since September 2020. While neodymium oxide and praseodymium oxide witnessed the sharpest drop out of all of the components of the Rare Earths MMI (Monthly Metals Ind…

U.S. energy firms this week cut the number of oil and natural gas rigs operating for a third week in a row for the first time since October, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an …

The discussion about electric batteries has long been centred around lithium-ion batteries, which use lithium resources in their development. The large-scale rollout of these batteries relies on the development of vast mining projects to source the lit…

Amid a historic natural gas price downturn and uncertainty around the future of LNG exports, the Mexico market remains a relative bright spot for bulls. Pipeline flows of U.S. natural gas to Mexico have averaged 6.09 Bcf/d year-to-date through March 27, up 552 MMcf/d versus the same period last year, according to Wood Mackenzie data.…

The post U.S. Natural Gas Flows to Mexico Seen Hitting New Records This Summer appeared first on Natural Gas Intelligence

Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. Every Mexican summer, natural gas imports from the United States peak. The aggregate figure reflects impressive growth in the last decade. If…

The post Mexico’s Cenagas Failing to Take Advantage of Natural Gas Opportunity — Column  appeared first on Natural Gas Intelligence

Regional natural gas forward prices advanced during the March 28-April 3 trading period as the start of the spring natural gas storage 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…

The post Signs of Recovery as Natural Gas Forward Prices Advance to Begin Storage Injection Season appeared first on Natural Gas Intelligence

Including activity declines in the Haynesville Shale, the U.S. natural gas rig count skidded to 110 for the week ended Friday (April 5), down two week/week, updated numbers from Baker Hughes Co. (BKR) show. Total active U.S. natural gas rigs finished the week well shy of the 158 rigs running at this time a year…

The post U.S. Drops Two More Natural Gas Rigs as Haynesville Activity Slows, BKR Data Show appeared first on Natural Gas Intelligence

Alberta Premier Danielle Smith says although she once spoke positively of carbon rebates, the rising cost of the federal levy means Prime Minister Justin Trudeau can no longer justify it.
The United Conservative premier was responding to Trudeau’s co…

Politically, Kyrgyzstan may be mimicking Russia, but when it comes to trade and investment, Bishkek is tilting toward China. Kyrgyzstan’s split geostrategic personality reflects changing circumstances wrought by the stalemated Russia-Ukraine war.  Russ…

Natural gas futures clawed back some of their recent losses through midday trading Friday as the market continued to mull a mix of fundamental factors, including restrained production, mild weather and plump inventories. Meanwhile, little buying interest for weekend and Monday delivery had cash prices falling hard. Here’s the latest: May Nymex futures at $1.804/MMBtu…

The post Natural Gas Futures Traders Weighing Mixed Outlook; Steep Spot Discounts — MidDay Market Snapshot appeared first on Natural Gas Intelligence

Pembina Pipeline Corp. and its project partners in the Cedar LNG export project in British Columbia (BC) disclosed that they have given a notice to proceed to their contractors and are working on the final financial arrangements after securing binding offtake agreements for the project. Arc Resources Ltd., one of Canada’s largest natural gas producers,…

The post Cedar LNG Eyes Summer FID After Landing Tolling Deal with Arc Resources appeared first on Natural Gas Intelligence

The Federal Energy Regulatory Commission has cleared Enbridge Inc. subsidiary Texas Eastern Transmission LP (Tetco) to start service on the Venice Extension pipeline project that would serve the Plaquemines LNG export facility under construction in Louisiana.  The Venice Extension would expand the Tetco system with a new three-mile, 36-inch diameter pipeline in Louisiana to move…

The post Plaquemines LNG Pipeline Project Cleared to Start Service  appeared first on Natural Gas Intelligence

Governments around the globe are exploring innovative ways to produce cleaner energy that will help decrease the overreliance on polluting fossil fuels. This ranges from more traditional green energy, such as solar and wind power, to less common option…

~ Q1 Silver-Equivalent Production Up 16.1% Over Previous Quarter ~ VANCOUVER, BC / ACCESSWIRE / April 5, 2024 / Guanajuato Silver Company Ltd. (the “Company” or “GSilver“) (TSXV:GSVR)(OTCQX:GSVRF) is pleased to announce consolidated production results for the three months ended March 31, 2024. Production results are generated from the Company’s wholly owned El Cubo Mines Complex […]

Guanajuato Silver Company Ltd. (the “Company” or “GSilver“) (TSXV:GSVR)(OTCQX:GSVRF) is pleased to announce consolidated production results for the three months ended March 31, 2024. Production results are generated from the Company’s wholly owned El Cubo Mines Complex (“El Cubo“), Valenciana Mines Complex (“VMC”), and San Ignacio Mine (“San Ignacio“) in Guanajuato, Mexico, the El Horcon […]

By Irina Slav More From Irina Slav When I was a child, I was extremely shy. This, of course, made me a natural target for bullies at kindergarten. I didn’t have it as bad as others because I tried, and succeeded, to be as invisible as possible but from…

The total number of active drilling rigs for oil and gas in the United States fell again this week, according to new data that Baker Hughes published on Friday, falling by 1. U.S. drillers saw a total loss of rigs this year of 2. The total rig count fe…

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, Cas Prices Slump as Storage Draw Fails to Impress appeared first on Natural Gas Intelligence

Carbon Tax Increased 23% I sat down with my colleague and the host of The BLUEPRINT and discussed the effect of the punitive inflationary carbon tax increase. Is it the best role of government to collect high taxes and then redistribute them back to Ca…

By Ross McKitrick Pierre Poilievre is leading anti-carbon tax rallies around the country, ginning up support for an old-fashioned tax revolt. In response, Justin Trudeau recently went to Calgary and trumpeted—what’s this?—his love of free markets. Cont…

By Kenneth P. Green Canada, as with many other environmentally conscientious governments, is pursuing an agenda of an energy transition: away from fossil fuels, and toward a society increasingly driven by wind power, solar power, and hydropower. Costs …

CALGARY – RBC Capital Markets says it expects to see a green light from the partners behind the proposed US$3.4-billion Cedar LNG project. RBC analyst Robert Kwan said in a note Friday he expects Pembina Pipeline Corp. and its project partner, the Hais…

Reuters reported on Friday that Tesla has canceled its inexpensive car that would have catapulted Tesla’s sales growth, citing anonymous sources and a company message seen by the news outlet. “Reuters is lying (again),” Elon Musk said on Twitter in a r…

A few weeks ago, when WTI crude was trading just below $80, I wrote here that I was about to break with my usual, contrarian trading style and establish a long-term long position in oil after a gain of around ten percent since the beginning of February…

Oil Prices Surge WTI crude oil’s current bullish trend, closely following Brent crude’s movements, has placed it at a crucial point for traders. This trend, driven by a mix of geopolitical tensions and economic factors, is pivotal in determining the fu…

1. OPEC+ Sticks to Course as Focus Shifts to Overproducers – The Joint Ministerial Monitoring Committee of OPEC+ has confirmed the oil group’s current production targets, pushing back against increasing calls for a reversal of output cuts on the back o…

Politics, Geopolitics & Conflict Israel has shored up its defenses in anticipation of a direct response from Iran following the Israel leveling of the Iranian consulate in Damascus, Syria. Two Iranian generals were killed in the attack. Israel’s war ca…

What happens when Argentina’s oil provinces cut off supplies amid a head-to-head battle with the country’s new libertarian president, Javier Milei, who has approached his mandate with a guns-blazing attitude and little political support to back it up? …

Rising seasonal demand and higher crude oil prices have resulted in the highest average U.S. gasoline prices in nearly six months, with the national average gas price hitting $3.57 per gallon, up from $3.10 at the start of the year, and higher than a y…

Chesapeake Energy and Southwestern Energy said on Friday the closing date of their proposed $7.4 billion merger has been pushed back to the second half of the year after receiving a U.S. regulator’s second request for information.

Russia is seeking to import gasoline from Kazakhstan in case shortages occur on the Russian market because of the diminished refining capacity due to maintenance and damages from Ukrainian drone attacks, Reuters reported on Monday, citing industry sour…

The world’s top independent oil trader, Vitol, booked a net profit of $13 billion for 2023, wrapping up a second consecutive year of very high net income following record 2022 earnings, the Financial Times reported on Monday, quoting sources familiar w…

Abu Dhabi National Oil Company (ADNOC) has been sending medium sour grade Upper Zakum for processing at a local refinery since the end of 2023, releasing more volumes of the sweeter, lighter, and more expensive, Murban crude for exports, a source famil…

Puma Exploration (TSXV:PUMA) recently shared updates on its drilling activities at the Tiger Gold Zone (TGZ) within the Williams Brook Gold Project in Northern New Brunswick. The company owns 100% of this project and has initiated a 2,000 meters drilling program targeting the gold zone discovered last year. The aim is to explore the northeast […]

The post Puma Exploration (TSXV:PUMA) Expands Drilling Program, Reports Intercepts of Widespread Alteration with VG at Tiger Gold Zone, and Reports High-Grade Gold Results appeared first on MiningFeeds.

Oil prices rallied this week as geopolitical risk and supply issues added to bullish sentiment, although concern that the Fed might not cut interest rates this year could counter that sentiment.Friday, April 5th 2024Aided by a whirlwind of bullish news…

Shell and Saudi Aramco, which are competing to buy the assets of Temasek-owned liquefied natural gas (LNG) trading firm Pavilion Energy, are now locked in price negotiations after completing the due diligence process, three sources with knowledge of the matter said.

The Tennessee Valley Authority (TVA) said it would add natural gas-fired generation fueled by a potential pipeline expansion proposed by ​​Enbridge Inc.’s East Tennessee Natural Gas LLC (ETNG) as it retires a large segment of coal generation.  TVA, which has floated the proposal of retiring the Kingston Fossil Plant (KIF) since its 2019 Integrated Resource…

The post U.S. Public Power Utilities Opting for Natural Gas to Replace Coal-Fired Generation appeared first on Natural Gas Intelligence

ExxonMobil profits for the first three months of this year are expected to dip sharply year/year and be down sequentially in part because of weak natural gas and oil prices, the integrated major said. Shell plc also has revised its expectations.  In a Securities and Exchange Commission Form 8-K filing, the company noted that commodity…

The post ExxonMobil, Shell Cite Weaker Natural Gas Prices in 1Q Previews appeared first on Natural Gas Intelligence

Natural gas futures held steady at the front of the curve in early trading Friday as mild shoulder season weather and a somewhat looser-than-expected close to withdrawal season kept the pressure on prices. At around 8:45 a.m. ET, the May Nymex contract was close to unchanged at $1.773/MMBtu. The front month sold off 6.7 cents…

The post Natural Gas Futures Flat to Lower Early as Market Mulls Mild Weather, Storage Outlook appeared first on Natural Gas Intelligence

Strong spring floods have shut down one refinery in Russia as they compromised a dam in the area forcing the evacuation of thousands, the BBC has reported, citing Russian government officials. Russian media report that the dam breach had sunk the old p…

So, you just completed your initial PEA cashflow model and the resulting NPV and IRR are a little disappointing. They are not what everyone was expecting. They don’t meet the ideal targets of an IRR greater than 30% and an NPV that is more than 2x the …

CEO admits timeline is tight, surprised by accusations of disrespecting the environment The Canadian Press MONTREAL— Swedish manufacturer Northvolt AB says it’s forging ahead with plans to open an electric-vehicle battery plant near Montreal by 2026, d…

Summary Brent, WTI hit highest levels since October on Thursday Both contracts on track to rise more than 4% this week (Reuters) – Oil prices extended gains on Friday and were on course for a second weekly gain, supported by geopolitical tensions…

Asian spot liquefied natural gas (LNG) was unchanged this week, keeping at a six-week high over $9 per million British thermal units (mmBtu) for a third consecutive week, as demand from buyers continued shoring up prices.

Toronto, Ontario–(Newsfile Corp. – April 4, 2024) – Argo Gold Inc’s. (CSE: ARQ) (OTC PINK: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) (“Argo” or the “Company“) February 2024 oil production was a total of 3,182 barrels for the month, averaging …

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…

Agreements support the development of Canada’s first Indigenous majority-owned LNG facility and the delivery of low-emissions energy to global markets CALGARY, AB, April 4, 2024 /CNW/ – (TSX: ARX) ARC Resources Ltd. (“ARC” or the “Company”), today anno…

The differential of Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) traded in the $12 range on Thursday, little changed from the previous session. WCS for May delivery in Hardisty, Alberta trade…

CALGARY, AB, April 4, 2024 /CNW/ – Headwater Exploration Inc. (the “Company” or “Headwater“) (TSX: HWX) is pleased to report first quarter average production volumes of approximately 19,500 BOE/d, which are in line with guidance and on trend to meet pr…

 Trans Mountain’s expanded oil pipeline system will start commercial operations on May 1, the Canadian government-owned company said late on Wednesday, surprising analysts with an earlier than expected commencement on the long-delayed C$34-billion ($25…

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…

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…

As part of the agreement, ENN Energy will make investments in the construction of essential natural gas gate stations and pipelines to facilitate the delivery. [Image: BASF]

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…