Day: April 19, 2024

Struggles defined the weekly natural gas cash market as prices bounced between gains and losses amid seasonal factors including fickle weather and maintenance activity.  NGI’s Weekly Spot Gas National Avg. for the April 15-19 period ultimately lost 7.5 cents to $1.135/MMBtu. Meanwhile, the May Nymex futures contract jumped early in the week after reports of…

The post West Texas Clawing Back as Volatile Week Ends with Natural Gas Prices Still Lower; Futures Slip appeared first on Natural Gas Intelligence

Namibia wants to join OPEC as it prepares to reap the benefits of its crude oil resources, with daily production capacity seen at an impressive 700,000 bpd in 2030—the first year of production per current plans. OPEC, it seems, will be only too happy t…

CALGARY — TC Energy Corp. says it has reduced the pressure on a segment of its NGTL pipeline system in Alberta while an investigation continues into the cause of a rupture that occurred earlier this week.
The Calgary-based pipeline company says it mad…

Natural gas futures struggled to find direction on Friday, trading in a narrow range of gains and losses throughout the session. Favorable near-term weather forecasts and continued light production estimates were countered by export weakness and only modest improvement in supply/demand balances evidenced in the latest government inventory data. At A Glance: Output near 98…

The post May Natural Gas Futures Range-Bound Despite Bouts of Cold, Lighter Production; Spot Prices Slip appeared first on Natural Gas Intelligence

China will undoubtedly become an even more significant buyer of Russian metals following the London Metal Exchange’s ban on newly produced Russian aluminum, copper, and nickel. China has already evolved into a major market for Russian-made products fol…

The U.S. natural gas rig count slid to 106 for the week ending Friday (April 19), down three rigs from the week prior and down 53 rigs year/year, according to the latest tally from oilfield services provider Baker Hughes Co. (BKR). The addition of five rigs in the oil patch lifted the combined U.S. rig…

The post U.S. Down Three Natural Gas Rigs in BKR’s Latest Count appeared first on Natural Gas Intelligence

Lofty levels of natural gas in storage and a severe Permian Basin supply glut continued to cloud the outlook for prices. Natural gas forward prices fell in every region during the April 11-17 trading period, NGI’s Forward Look data show. Levels remained well below the $2.00/MMBtu level across the Lower 48, with exceptionally weak West…

The post Price Headwinds Evident in Natural Gas Forwards as Weak Demand Trumps Falling Production 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. The recent publication of Mexico’s “Prospectivas” report by the energy ministry Sener is a significant event for stakeholders in the natural gas…

The post Mexico Natural Gas Demand Outlook Useful for Market, but Could Be Misleading — Column appeared first on Natural Gas Intelligence

Global flight activity passed pre-pandemic levels for the first time in four years last week, but jet fuel demand growth has not kept apace as newer fleets of aircrafts become more fuel efficient and carry more passengers. Aviation fuel, a product refi…

The Netherlands is expected to permanently close the huge Groningen natural gas field, the Dutch Senate announced this week. Groningen, one of the largest gas fields in Europe, caused earthquakes and damage to local communities for more than 20 years, which created debate among politicians, local residents and gas industry supporters for years about whether…

The post Groningen Field to Permanently Close as the Netherlands Increases Pipeline and LNG imports appeared first on Natural Gas Intelligence

Despite a new package of sanctions against Iran targeting financial institutions, ports, vessels, and refineries that knowingly process Iranian oil shipments, the U.S. Administration is unlikely to “strongly enforce” the restrictions in an election yea…

Lithium-sulfur (Li-S) batteries hold promise for bringing more energy dense and low-cost batteries closer to market. University of California – San Diego engineers have developed an advanced cathode material for lithium-sulfur (Li-S) batteries that is …

Municipalities and irrigation districts in the western Canadian province of Alberta have agreed to use less water this summer to combat a severe ongoing drought, the provincial government said on Friday. Environment Minister Rebecca Schulz said water l…

U.S. energy firms this week added oil and natural gas rigs for the first time in five weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by 2 to 6…

With geopolitical tensions in the Middle East continuing to make the Suez Canal a risky crossing, almost 20% of all U.S. LNG exports have taken the longer route around southern Africa so far this year, according to data from Kpler. After conflict in Israel and Gaza sparked off in October, the threat of rocket attacks…

The post U.S. LNG Could Be Heading for Open Arbitrage Moment, but Shipping Challenges Persist appeared first on Natural Gas Intelligence

Via SchiffGold.com, Peter Schiff recently appeared on Market Overtime with Oliver Renick for an interview. In their wide-ranging discussion, Peter speaks on monetary policy, the reliability of inflation data, and reasons to avoid Bitcoin. Contrary to t…

Natural gas futures were essentially flat through midday trading Friday, with prices seemingly lacking direction amid the competing fundamental trends of sagging export demand and fading production. Here’s the latest: May Nymex futures off fractionally at $1.756/MMBtu at around 2:30 p.m. ET U.S. drops three natural gas rigs in latest Baker Hughes Co. count The…

The post Natural Gas Futures Treading Water to Close Out Week; Cash Mixed — MidDay Market Snapshot appeared first on Natural Gas Intelligence

The Great Game is playing out once again in Central Asia, but it is getting a new name and adopting a different set of rules. Economics, not politics, is defining the terms of the current superpower competition for regional influence, according to a re…

The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, for an increase of 2. The total rig count fell by 2 to 619 this week, compared to 753 rigs this s…

EDMONTON — A survey from a clean energy think-tank says Alberta has done little to implement its plan to reduce its greenhouse gas emissions.
The Pembina Institute has examined the measures included in the province’s plan released one year ago.
It s…

The next round of EU sanctions against Russia over the invasion of Ukraine should include measures to address the shadow fleet of tankers helping Russia move its oil and a ban on EU imports of Russian LNG, Sweden’s foreign minister said on Monday.   “A…

Tesla is expected to report for the first quarter of 2024 its lowest quarterly profit margins since early 2017 amid a price war in the electric vehicle sector and a slowdown in demand, analysts say. Elon Musk’s EV manufacturer is set to release its fin…

A suspected Iranian spy ship that its own government calls an “intelligence and logistics” vessel returned home this week after a three-year mis, as well as more recently lingering near Yemen for months. The Iranian ‘spy ship’ BEHSHAD (9167289), which …

‘The demand for plastics reflects how essential they are in our lives’ By Will Gibson Follow CEC on LinkedIn  CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter The Heartland Petrochemical Complex near Edmont…

By Kenneth P. Green Assertions are made claiming that weather extremes are increasing in frequency and severity, spurred on by humanity’s greenhouse gas emissions. Based on such assertions, governments are enacting ever more restrictive regulations on …

Africa’s biggest oil producer, Nigeria, plans to offer up to 20% of its crude oil production for trading on its commodities exchange, Akinsola Akeredolu-Ale, the chief executive of the Lagos Commodities and Futures Exchange, told Bloomberg in an interv…

Asian spot liquefied natural gas (LNG) prices rose this week to a new three-month high due to supply concerns amid tensions in the Middle East and a drop in feedgas deliveries to two LNG terminals in the United States.

Foreseeable risks from swelling natural gas inventories and an active hurricane season in the Atlantic Basin could bring more volatility to commodity prices in the coming months, a market expert said this week at an industry conference. The looming threat of hurricanes, which forecasters are predicting to be more frequent this season, will be “an…

The post Hurricane Season Said to Potentially Test ‘Operational Limits’ of Natural Gas Storage, Infrastructure appeared first on Natural Gas Intelligence

Russian oil company Bashneft, part of state-controlled giant Rosneft, has installed metal mesh at its refineries to protect them from drone attacks from Ukraine, Russian media reported on Friday, quoting Radiy Khabirov, the head of the Bashkortostan re…

Russian oil company Bashneft, part of state-controlled giant Rosneft, has installed metal mesh at its refineries to protect them from drone attacks from Ukraine, Russian media reported on Friday, quoting Radiy Khabirov, the head of the Bashkortostan re…

Russian oil company Bashneft, part of state-controlled giant Rosneft, has installed metal mesh at its refineries to protect them from drone attacks from Ukraine, Russian media reported on Friday, quoting Radiy Khabirov, the head of the Bashkortostan re…

Russian oil company Bashneft, part of state-controlled giant Rosneft, has installed metal mesh at its refineries to protect them from drone attacks from Ukraine, Russian media reported on Friday, quoting Radiy Khabirov, the head of the Bashkortostan re…

Russian oil company Bashneft, part of state-controlled giant Rosneft, has installed metal mesh at its refineries to protect them from drone attacks from Ukraine, Russian media reported on Friday, quoting Radiy Khabirov, the head of the Bashkortostan re…

Russian oil company Bashneft, part of state-controlled giant Rosneft, has installed metal mesh at its refineries to protect them from drone attacks from Ukraine, Russian media reported on Friday, quoting Radiy Khabirov, the head of the Bashkortostan re…

Russian oil company Bashneft, part of state-controlled giant Rosneft, has installed metal mesh at its refineries to protect them from drone attacks from Ukraine, Russian media reported on Friday, quoting Radiy Khabirov, the head of the Bashkortostan re…

Russian oil company Bashneft, part of state-controlled giant Rosneft, has installed metal mesh at its refineries to protect them from drone attacks from Ukraine, Russian media reported on Friday, quoting Radiy Khabirov, the head of the Bashkortostan re…

Gold Terra Resource Corp. (TSXV:YGT) has reported details on the progress of deep drilling operations at the Con Mine. The focus of the reported results includes drill hole GTCM24-056, initiated in early February, aiming at the Campbell Shear below the Con Mine workings, which historically produced over 5.1 million ounces of gold at an average […]

The post Gold Terra Resource (TSXV:YGT) Advances Exploration with Results from Con Shear Target as Hole Progresses Toward Campbell Shear Target appeared first on MiningFeeds.

Oil price volatility has climbed dramatically as tensions between Israel and Iran escalate, with Brent breaking the $90 mark early on Friday morning before falling back to the $86 handle.Friday, April 19th 2024The drastic seesawing of oil prices in rec…

The U.S. Administration finalized on Friday a strategy to help protect federal lands, which includes restricting access to drilling and mining in a large part of the National Petroleum Reserve in Alaska (NPR-A). The Public Lands Rule is aimed at helpin…

The U.S. Administration finalized on Friday a strategy to help protect federal lands, which includes restricting access to drilling and mining in a large part of the National Petroleum Reserve in Alaska (NPR-A). The Public Lands Rule is aimed at helpin…

The U.S. Administration finalized on Friday a strategy to help protect federal lands, which includes restricting access to drilling and mining in a large part of the National Petroleum Reserve in Alaska (NPR-A). The Public Lands Rule is aimed at helpin…

The U.S. Federal Energy Regulatory Commission (FERC) will announce on May 13 its plan to speed up the development of long-distance transmission lines to meet rising power demand and bring a backlog of planned clean energy projects to the grid.

Liberty Energy Inc. CEO Chris Wright said Thursday he does not expect exploration and production customers to increase their onshore natural gas activity before the end of this year, but a lack of activity will not be a stumbling block to advance future opportunities. The oilfield services (OFS) company, considered one of the leading hydraulic…

The post Liberty CEO Says ‘Generational Shift’ in Sight for Natural Gas as AI to Fuel Strong Demand appeared first on Natural Gas Intelligence

Natural gas production in North Dakota averaged 3.36 Bcf/d in February, up 12% month/month, according to the state’s Department of Mineral Resources (DMR). February “was a very good month for the state, recovering from the late-December/early-January winter weather,” said DMR’s Lynn Helms, Oil and Gas Division director, during a press conference. Operators captured and marketed…

The post North Dakota Natural Gas Production Rebounds from Winter Outages as Prices Still at Historic Lows appeared first on Natural Gas Intelligence

Natural gas futures eased lower at the front of the curve early Friday as the market continued to assess balances following updated storage data that landed in line with expectations. The May Nymex contract was down 2.6 cents to $1.731/MMBtu at around 8:30 a.m. ET. The U.S. Energy Information Administration (EIA) on Thursday reported a…

The post Slight Pullback for Natural Gas Futures Early as Shoulder Season Balances in Focus appeared first on Natural Gas Intelligence

(Reuters) – Top oilfield services firm SLB  reported a 14% rise in first-quarter profit on Friday, in line with analysts’ estimates, as strong oil and gas drilling demand in the Middle East and Africa helped offset weakness in North America…

(Reuters) – Oil slipped on Friday after prices spiked earlier on reports that Israel had attacked Iran as market fears of a major escalation to hostilities in the Mideast appeared to ease. After the benchmark contracts jumped more than $3 in the …

Top oilfield services firm SLB reported a 14% rise in first-quarter profit on Friday, as strong international oil and gas drilling demand helped offset a slowdown in North America activity.

(“i3”, “i3 Energy”, or the “Company”) Partial Sale of the Company’s Royalty Assets and Elimination of All Bank Indebtedness EASTLEIGH, UNITED KINGDOM / ACCESSWIRE / April 17, 2024 / i3 Energy plc (AIM:I3E)(TSX:ITE), an independent oil and gas company w…

Goldman Sachs on Thursday raised its Brent crude oil price forecasts, projecting $86 a barrel for the second half of 2024, up from $85 previously, and $82 for 2025, up from $80.It said prices were likely to stay at the higher end of its forecast range,…

Selling Pressure, Profit-Taking Dominate Trade This week, crude oil markets experienced significant volatility to the downside, driven by geopolitical concerns, unexpected inventory adjustments, and changes in demand. Although escalation fears between …

Oil markets have largely discounted the Iranian missile and drone barrage directed at Israel because it was essentially a ruse designed not to inflict any damage, but to save face at home and abroad. Almost all of the missiles were intercepted by Israe…

1. Venezuela Braces for Impact After US Reimposes Sanctions –  The Biden administration reimposed sanctions on Venezuela’s oil industry after its six-month waiver expired on 18 April, with the White House providing oil firms with a 45-day grace period …

Over the years, one of my most profitable investment research techniques has been to look for companies whose stock has been dragged down by negativity around the market in which they operate, even though they themselves are well-run, efficient, and pr…

Politics, Geopolitics & Conflict At midnight on Thursday, the six-month temporary oil sanctions relief Washington granted Venezuela last October expired, and the Biden administration moved to reimpose those sanctions, which was met with backlash in Car…

The U.S. Administration finalized on Friday a strategy to help protect federal lands, which includes restricting access to drilling and mining in a large part of the National Petroleum Reserve in Alaska (NPR-A). The Public Lands Rule is aimed at helpin…

JUNEAU, Alaska (AP) — The Biden administration said Friday it will restrict new oil and gas leasing on 13 million acres (5.3 million hectares) of a federal petroleum reserve in Alaska to help protect wildlife such as caribou and polar bears as the Arc…

Japanese utilities have “strong concerns” over escalating tensions in the Middle East as any supply disruption in the region will have a big impact on fuel supply and prices, the head of an electric power industry group said on Friday.

SLB (NYSE: SLB), the world’s largest oilfield services provider, reported on Friday 14% higher net income for the first quarter compared to the same period last year, amid strong international drilling demand that more than offset a weaker North Americ…

The LNG supply will begin in 2025. [Image: Oman LNG/X]