U.S. energy firms this week added oil and natural gas rigs for a sixth week in a row as oil prices soared to their highest since 2014, prompting drillers to return to the wellpad. The oil and gas rig count, an early indicator of future output, rose 10 to 543 in the week to Oct. … Read more
Natural gas is transferred into the SoCalGas system after being collected and purified at a Calgren collection facility in Pixley, California, U.S., REUTERS/Mike Blake/File Photo Oct 15 (Reuters) – U.S. natural gas futures fell almost 5% on Friday, following a 9% drop in global gas prices, on forecasts the weather in the United States will … Read more
Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE Image Courtesy of Psychology Today On Wednesday, the International Energy Agency released their World Energy Outlook 2021 report discussing—you guessed it—three potential future global energy scenarios. The report was dropped ahead of the 2021 United Nations Climate Change Conference (COP26) like a Kanye West listening party. The … Read more
Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE UBS, the swiss multinational investment bank, recently took apart a Chevy Bolt and a Volkswagen Golf to better understand what makes up the different vehicle types. Between what goes into the battery to use of plastics, the materials that make up vehicles is fascinating. Currently … Read more
The premium of the immediate Brent crude contract to the December 2022 price stood at $8.13 a barrel on Friday after reaching $8.30 on Monday. The value on Monday was the highest since 2013, according to Refinitiv Eikon data. Graphic: Brent Crude 12-month Backwardation, One of the main factors underpinning prices has been the reluctance … Read more
The logo of the Nord Stream 2 gas pipeline project is seen on a pipe at the Chelyabinsk pipe rolling plant in Chelyabinsk, Russia, February 26, 2020. REUTERS/Maxim Shemetov/File Photo FRANKFURT/BERLIN, Oct 15 (Reuters) – The Nord Stream 2 pipeline is completed and ready to pump Russian gas to Europe, but nothing is flowing yet … Read more
A liquified natural gas (LNG) tanker leaves the dock after discharge at PetroChina’s receiving terminal in Dalian, Liaoning province, China July 16, 2018. REUTERS/Chen Aizhu//File Photo SINGAPORE/NEW YORK, Oct 15 (Reuters) – Major Chinese energy companies are in advanced talks with U.S. exporters to secure long-term liquefied natural gas (LNG)supplies, as soaring gas prices and … Read more
(Bloomberg) U.S. natural gas futures climbed after winter stockpiles of the furnace and power-plant fuel expanded less than expected, heightening concerns about adequate supplies going into the peak-demand season. Gas prices have already more than doubled this year and the peak, winter demand season is still weeks away in major cities like Chicago that rely … Read more
Oct 14, 2021 (Bloomberg) The largest U.S. natural gas driller is using the global energy crisis to renew his call for more investment in domestic infrastructure such as pipelines, which he says will enable increased exports and ease shortages. U.S. gas drillers could increase supplies by about 20% if not for pipeline and export constraints, EQT … Read more
Oct 15, 2021 (Bloomberg) Just a few months ago, the U.S. economy looked like it was roaring back from the pandemic slump. Now the recovery is starting to look more like a grind. The spread of the delta variant has held back millions of Americans from spending on services like restaurants and hotel rooms. Supply chains are … Read more
(Bloomberg) The International Energy Agency’s annual World Energy Outlook, the latest edition of which was published on Wednesday, is probably the closest thing to a bible in the energy world. It marks in granular detail several different ways the global energy system might evolve. The organization projects electricity generation and fuel production volumes and price points, … Read more
Oct 15, 2021 (Bloomberg) Oil in London rose past $85 a barrel for the first time since 2018, the latest milestone in a global energy crunch that has seen prices soar. Brent futures briefly passed that level, before paring gains. A shortage of gas and coal is triggering extra demand for oil products from the power … Read more
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Monthly Oil Statistics The latest IEA’s Monthly Oil Statistics report including July 2021 data shows that for Total OECD: Total OECD production of crude oil, NGL and refinery feedstocks increased by 4.8% in July 2021 compared to July 2020. Refinery gross output of total products grew (8.2%) on a year-on-year basis. Net deliveries of total products increased in July 2021 compared to July … Read more
Monthly Gas Statistics The latest IEA’s Monthly Gas Statistics report including July 2021 data shows that for Total OECD: Production of natural gas increased by 2.9% compared to July 2020. Imports (entries)1 of natural gas were 3.1% higher on a year-on-year basis, and total OECD exports (exits)1 increased by 9.9% in the same period. Gross consumption of natural gas decreased by 3.0% in July … Read more
Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al-Saud attends a session of the Russian Energy Week International Forum in Moscow, Russia October 14, 2021. REUTERS/Maxim Shemetov MOSCOW, Oct 14 (Reuters) – OPEC leader Saudi Arabia dismissed calls for speedier oil output increases on Thursday, saying its efforts with allies were enough and protecting … Read more
October 14, 2021 Carrollton, Texas, Oct. 14, 2021 (GLOBE NEWSWIRE) — Allied Energy Corp (OTC Pink: AGYP), an oil and gas company focused on leasing and reworking oil and gas projects in Texas, is pleased to announce that the Company is successfully producing oil at three of the wells located on the Gilmer Lease. Throughout … Read more
Oct 14, 2021 (Bloomberg) Oil surged past $81 a barrel after the International Energy Agency said shortages of natural gas in Europe and Asia are boosting demand for crude. WTI crude futures were up 1.1% and trading near their highest level since 2014. Record gas prices are boosting consumption of other fuels and could add about 500,000 … Read more
Oct 14, 2021 (Bloomberg) Shortages of natural gas in Europe and Asia are boosting demand for oil, deepening what was already a sizable supply deficit in crude markets, the International Energy Agency said.Crude has surged above $80 a barrel, the highest in three years, as traders anticipated that record gas prices would stimulate consumption of other … Read more
Oct 14, 2021 (Bloomberg) Oil’s stability relative to natural gas and coal underscore that OPEC+ is doing a good job balancing supply and demand, said the energy ministers of Saudi Arabia and Russia.While crude has jumped to a three-year high above $80 a barrel, the increase has been nothing compared to volatility seen with gas and … Read more
Oct 14, 2021 (Bloomberg) European gas futures continued their march upwards on Thursday, even after Russia pledged to deliver as much supply as the continent needs. Europe’s largest gas supplier is ramping up deliveries in line with requests from customers and is “prepared to discuss any additional steps” to stabilize the market, President Vladimir Putin said on Wednesday. … Read more
The energy sector’s focus has shifted significantly over the last two years. And while our industry is no stranger to change, we find ourselves in uncharted waters with initiatives like ESG and a lingering global pandemic. Since its inception, the driving purpose of the SPARK Conference is to help professionals in energy navigate present and … Read more
Oct 13 (Reuters) – The White House has been speaking with U.S. oil and gas producers in recent days about helping to bring down rising fuel costs, according to two sources familiar with the matter. Energy costs are rising worldwide, in some cases leading to shortages in major economies like China and India. In the … Read more
Oct 13, 2021 (Bloomberg) The Biden administration on Wednesday outlined plans to expand offshore wind development across almost all U.S. coasts, raising the prospect that turbines could be installed from the Carolinas to California.“We have big goals to achieve a clean energy economy,” Interior Secretary Deb Haaland said during a speech at American Clean Power’s Offshore … Read more
An array of solar panels is seen in the desert near Victorville, California, U.S. March 28, 2018. REUTERS/Lucy Nicholson Oct 13 (Reuters) – A U.S. solar group seeking import tariffs on panels made by Chinese companies in Southeast Asia has refused a request by federal trade officials to reveal its members’ identities, citing fears of … Read more
Summary Recovery from COVID-19 has led to surge in energy demand EU publishes a list of steps to tackle high energy prices Russia, Europe tussle over Nord Stream 2 pipeline Top coal-consumer China grappling with energy crisis Green energy needs $4 trln investment by 2030, IEA says MOSCOW/BRUSSELS/BEIJING, Oct 13 (Reuters) – President Vladimir Putin … Read more
The energy company is now slated to achieve its 50% carbon emissions reduction target by 2028 •The company will accelerate the filing of its updated Clean Vision Plan (Integrated Resource Plan) to the fall of 2022, one year earlier than planned October 13, 2021 11:00 ET | Source: DTE Energy Detroit, Oct. 13, 2021 (GLOBE NEWSWIRE) — DETROIT, … Read more
October 13, 2021 HOUSTON, Oct. 13, 2021 (GLOBE NEWSWIRE) — Occidental (NYSE: OXY) today announced it has agreed to sell its interests in two Ghana offshore fields for $750 million to Kosmos Energy ($550 million) and Ghana National Petroleum Corporation (GNPC) ($200 million), prior to closing adjustments to reflect an April 1, 2021 effective date. The sale … Read more
NEW YORK (AP) — Get ready to pay sharply higher bills for heating this winter, along with seemingly everything else. With prices surging worldwide for heating oil, natural gas and other fuels, the U.S. government said Wednesday it expects households to see their heating bills jump as much as 54% compared to last winter. The … Read more
Russia will seek to become carbon neutral within four decades, President Vladimir Putin said on Wednesday, marking a stunning reversal in his stance on climate change. “We set a specific aim here — no later than 2060,” Putin said in his speech at the Russian Energy Week conference in Moscow. His pledge is the latest … Read more
Oct 13, 2021 (Bloomberg) Oil fell after a four-day advance, with OPEC’s monthly report sounding a calming tone on consumption, just as Russia said it will supply Europe with as much gas as it needs. West Texas Intermediate edged lower after posting the highest close since October 2014. OPEC revised down its estimate for oil demand … Read more
The logo of Gazprom is pictured at the 26th World Gas Conference in Paris, France, June 2, 2015. REUTERS/Benoit Tessier MOSCOW, Oct 13 (Reuters) – The Kremlin said on Wednesday that Russian gas giant Gazprom (GAZP.MM) was supplying gas to Europe at maximum levels under existing contracts and any increase would need to be negotiated with the … Read more
Summary Clean energy investment needs to triple by 2030 Post-pandemic coal, oil rebound fuels historic CO2 rise Renewables will help reach net zero, fight volatility COP26 conference needs to send “unmistakeable signal” LONDON, Oct 13 (Reuters) – Investment in renewable energy needs to triple by the end of the decade if the world hopes to … Read more
LONDON, Oct 13 (Reuters) – OPEC has trimmed its world oil demand growth forecast for 2021 while maintaining its 2022 view, its monthly report showed on Wednesday, but it said surging natural gas prices could boost demand for oil products as end users switch. The Organization of the Petroleum Exporting Countries (OPEC) now expects oil … Read more
MOSCOW, Oct 13 (Reuters) – Russian President Vladimir Putin said on Wednesday electric power shortages were behind the gas price rise in Europe, and that Moscow was ready to discuss additional action, saying that there needed to be agreement on how to balance energy markets. Putin said the gas market was neither balanced nor predictable, … Read more
MIDLAND, Texas, Oct. 12, 2021 (GLOBE NEWSWIRE) — On October 5, 2021 Rattler Midstream LP (NASDAQ: RTLR) (“Rattler”), a subsidiary of Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”), and a private affiliate of an investment fund, completed an acquisition of a majority interest in a Midland Basin gas gathering and processing company from West Texas Gas, … Read more
New Charging Forward eFleets program adds advisory services to rebate offerings Detroit, Oct. 12, 2021 (GLOBE NEWSWIRE) — DETROIT, October 12, 2021 — DTE Energy, a leader in clean energy in Michigan, announced today that its electric vehicle (EV) charging program, Charging Forward, is now offering Michigan-based businesses advisory services for transitioning to electric fleets (eFleets). DTE … Read more
October 12, 2021 SUGAR LAND, Texas, Oct. 12, 2021 (GLOBE NEWSWIRE) — CVR Energy, Inc. (“CVR Energy” or the “Company”) (NYSE: CVI) today announced that Dane Neumann has been named Executive Vice President and Chief Financial Officer of the Company. Neumann also will serve as Executive Vice President and Chief Financial Officer of the general … Read more
Oct 12 (Reuters) – Dealmaking in the U.S. oil and gas industry in the third quarter of 2021 fell from a two-year high in the previous quarter, according to data analytics firm Enverus on Tuesday, as the industry cools from post-pandemic consolidations and focuses on selling off non-core assets. Mergers and acquisitions (M&A) activity in … Read more
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Analytical intelligence systems are the key to unlocking the data to drive your business forward. CALGARY, October 13, 2021 — In today’s fast changing world, leaders are pressed to do more with existing or even less resources. This means, finding efficiencies in the current systems and processes through innovative approaches. Streamline Control, an Alberta-based company … Read more
WASHINGTON — Opponents of Line 5 want the White House to reject Canada’s bilateral effort to prevent a Michigan judge from shutting down the cross-border pipeline. Canada has formally requested negotiations with the U.S. under the terms of a 1977 treaty that specifically deals with the bilateral transmission of energy. Environmental groups, however, call the … Read more
The St. Louis-based natural gas company Spire Inc. is asking the U.S. Supreme Court to allow it to keep operating a pipeline through Illinois and Missouri, warning that a winter shutdown could be devastating to St. Louis-area customers. In a filing last week, Spire requested a stay that would allow operation of its Spire STL … Read more
Oct 12, 2021 (Bloomberg) LG Corp. companies that supply batteries to General Motors Co. set aside 1.1 trillion won ($918 million) to cover costs related to the recall of Chevrolet Bolt electric vehicles, reassuring investors concerned about a rift between the South Korean conglomerate and a major carmaking customer.LG Chem Ltd.’s battery unit LG Energy Solution said Tuesday … Read more
CALGARY, AB and INGLESIDE, Texas, Oct. 12, 2021 /CNW/ – Enbridge Inc. (Enbridge or the Company) (TSX: ENB) (NYSE: ENB) today announced the closing of the acquisition of Moda Midstream Operating from Encap Flatrock Midstream for US$3.0 billion. The acquisition significantly advances the Company’s U.S. Gulf Coast export strategy and connectivity to low-cost and long-lived reserves in the Permian and Eagle … Read more
Oct 12, 2021 (Bloomberg) China’s widening power crisis, which has forced rationing across the country and threatens to derail economic growth, is prompting policy makers to rethink the pace of the nation’s energy transition. China’s path to a greener economy needs to be underpinned by a stable supply of energy, Premier Li Keqiang said in a … Read more
Oct 12, 2021 (Bloomberg) Oil in New York held above $80 a barrel on expectations that a power crisis from Asia to Europe will lift demand, prompting banks to boost their price forecasts. Futures were little changed after closing 1.5% higher on Monday. Demand is being supported ahead of the northern hemisphere winter by shortages of natural gas … Read more
Oct 12, 2021 (Bloomberg) Group of 20 leaders meeting in Rome this month will have a final chance to keep alive the goal of limiting global warming to 1.5 degrees Celsius, Alok Sharma said. Speaking in Paris on Tuesday, the president of the crucial COP26 talks in Glasgow, called on G-20 nations to agree new measures … Read more
The White House stands by its calls for oil-producing countries to “do more” to support the global economic recovery, an official said on Monday, as crude prices hit multi-year peaks. The official said the administration was closely monitoring the cost of oil and gasoline and “using every tool at our disposal to address anti-competitive practices … Read more
MELBOURNE, Oct 12 (Reuters) – Global plans to build carbon capture and storage (CCS) plants have mushroomed over the last nine months as governments and companies accelerate the hunt for ways to cut emissions and curb global warming by mid-century, a think tank said on Tuesday. The capacity of planned projects soared to 111 million … Read more
MOSCOW, Oct 12 (Reuters) – Russian energy giant Gazprom (GAZP.MM) has started using its inventories to pump more natural gas into the pipeline network to stabilise surging prices, a Russian official said on Tuesday. Deputy Foreign Minister Sergei Ryabkov, in a BBC interview, rejected any suggestion that Russia was withholding gas from the European market, where … Read more
Summary Wholesale gas prices up 400% this year, power prices double Rising wholesale energy costs are passed on to consumers European households set to feel the pinch this winter LONDON, Oct 8 (Reuters) – Households across Europe face much higher winter energy bills due to a global surge in wholesale power and gas prices and … Read more
Oct 11 (Reuters) – U.S. natural gas futures fell 4% to a two-week low on Monday on rising output and forecasts milder than normal weather will continue through late October. That mild weather will keep heating demand light and allow utilities to continue injecting more gas into storage than usual ahead of the winter. U.S. … Read more
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Oct 11, 2021 (Bloomberg) Oil prices above $80 a barrel are once again spurring a revival of shale drilling in America’s biggest oil field, where production is expected to return to pre-pandemic highs within weeks.Only this time, the surge is being driven by private operators, rather than the publicly traded companies that fueled the previous booms. And they see little reason … Read more
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Oct 11, 2021 (Bloomberg) Chevron Corp. committed to an “aspiration” of net zero emissions from its operations by 2050 as the company responds to rising investor and societal pressure to play a bigger role in a transition to a low-carbon future. Chevron also set a target of reducing carbon intensity by 5% from 2016 levels by … Read more
Oct 11, 2021 (Bloomberg) Two dozen more countries have joined a global pact to pare methane emissions, the U.S. and the European Union announced Monday, as world leaders seek to galvanize momentum against the potent greenhouse gas before critical climate talks in Scotland. With the addition of Canada, France, Germany and others, nations backing the pledge … Read more
An oil refinery conducts a flaring operation in Carson, California, U.S., September 22, 2021. REUTERS/Mike Blake Oct 11 (Reuters) – Shale oil and gas producer APA Corp (APA.O) on Monday said it has ended routine gas flaring at its U.S. onshore operations, delivering ahead of schedule on a pledge to halt the practice as natural gas prices … Read more
ad U.S. Senator Ted Cruz (R-TX) addresses a news conference on Capitol Hill in Washington, U.S., October 6, 2021. Picture taken October 6, 2021. REUTERS/Evelyn Hockstein/File Photo WASHINGTON, Oct 11 (Reuters) – The U.S. Treasury is being held hostage by Republican Senator Ted Cruz’s efforts to halt a Russia-to-Germany gas pipeline, blocking critical appointments when … Read more
A pump jack operates in front of a drilling rig at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford/File Photo Oct 8 (Reuters) – U.S. energy firms this week added oil and natural gas rigs for a fifth week in a row as oil prices soared to their highest … Read more
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Oct 10, 2021 (Bloomberg) Oil surged past $80 a barrel as the global power crunch rattled a market in which OPEC+ has only been restoring output at a modest pace.West Texas Intermediate futures climbed around 1.5% in Asian trading after topping the psychological price threshold on Friday for the first time since November 2014. The prices … Read more
Oct 10, 2021 (Bloomberg) With its chimneys towering 200 meters above the industrial heartland of England, West Burton A power station is a relic of the fossil fuel age. When fired up, its boilers burn thousands of tonnes of coal each day, spewing out the carbon dioxide that’s warming up the planet.After more than 50 years … Read more
Oct 11 (Reuters) – Chesapeake Energy Corp (CHK.O) on Monday named long-time finance chief Domenic Dell’Osso as its chief executive officer, months after ousting former top boss Doug Lawler. Dell’Osso joined Chesapeake in 2008 and was appointed CFO in 2010. He takes the reins from Chairman Mike Wichterich, who has served as interim CEO since Lawler’s … Read more
by ENERGYminute See more articles and infographics from ENERGYminute HERE No country produces just the exact amount of oil to be self-sufficient. Some countries make their living by producing more oil than they consume. Others, like Japan, base much of their geopolitical strategy on securing supplies. So which G20 country exports the most oil and which country … Read more
by ENERGYminute See more articles and infographics from ENERGYminute HERE Tesla, Rivian, and other electric vehicle companies have started to electrify the light-duty vehicle market. But medium- and heavy-duty transport has its own challenges to overcome. Enter natural gas. Compared to diesel, natural gas reduces emissions greatly. Renewable natural gas reduces emissions by up to 82 … Read more
Oct 10, 2021 (Bloomberg) Australia should include “caveats” in any net-zero greenhouse-gas emissions pledge to allow it to suspend climate-change commitments should regional areas of the economy be negatively impacted, according to a senior government lawmaker.The move by the Nationals, the rural-based junior partner in the ruling conservative coalition, highlights Prime Minister Scott Morrison’s challenges in … Read more
b Oct 10, 2021 (Bloomberg)Surging energy prices are kindling bullish bets on developing-nation exporters, with Russia emerging as traders’ favorite investment destination.Russia’s ruble has gained more than any other emerging-market currency this month, bolstered by the prospect of higher oil revenues, while the nation’s stocks outperformed as a broad gauge of developing equities sank. OPEC’s monthly … Read more
By Joe Carroll (Bloomberg)U.S. shale drillers are increasingly worried that swelling Russian natural gas exports will slash their European market share.American gas exporters already are cranking out almost all the fuel they can, but as U.S. capacity to ship the fuel overseas expands, some domestic drillers are pessimistic about the prospect of increasing sales to … Read more
Orsted A/S and Eversource Energy, the companies building a big wind farm off the Long Island coast, are teaming up with construction firm Riggs Distler & Co. to build turbine parts near Albany and then float them down the Hudson River. The companies signed an $86 million supply contract for construction of turbine components at … Read more
Oct 8, 2021 (Bloomberg) California Governor Gavin Newsom struck a defiant tone Friday after losing the headquarters of one of the state’s marquee companies, Tesla Inc., to Texas, saying his state’s policies helped create the electric-car maker. Newsom, speaking at a bill-signing ceremony in Oakland, thanked Tesla Chief Executive Officer Elon Musk for his investments in … Read more
Oct 8 (Reuters) – U.S. natural gas futures slipped 2% to a one-week low on Friday on a drop in global gas prices and forecasts for mild weather to keep heating demand low through late October. Over the past few weeks, worries that Europe would not have enough gas in storage for the winter heating … Read more
Oct 7, 2021 (Bloomberg) An unremitting shipping logjam in the waters outside of Los Angeles has already contributed to higher costs, delays and intermittent goods shortages across the U.S. Now, it could be to blame for California’s biggest oil spill in 27 years. Although the official cause of a pipeline rupture that spilled as many as 3,000 barrels of … Read more
Oct 7, 2021 (Bloomberg) The energy crisis that’s led to electricity shortages and blackouts in Europe and Asia may be heading for the U.S. Electric companies are alerting customers about winter price hikes and an energy hedge fund warned of potential gas shortages. Ernie Thrasher, chief executive officer of Xcoal Energy & Resources LLC, said said utility executives have told … Read more
Oct 8, 2021 (Bloomberg) Tesla Inc. will move its headquarters to Austin, Texas, following through on a threat Elon Musk made last year when tensions between the billionaire and California boiled over months into the pandemic. The chief executive officer announced the plan Thursday during Tesla’s annual shareholder meeting at the company’s factory in Austin. The dearth of … Read more
Oct 8, 2021 Word Count: 447 (Bloomberg) —U.S. crude futures topped $80 a barrel for the first time since November 2014 as a global energy crisis boosts demand at a time when OPEC+ producers are keeping supplies tight. Futures in New York rose 1.3% on Friday, popping above the key, psychological level before pulling back. This … Read more
BRUSSELS, Oct 7 (Reuters) – President Joe Biden’s national security adviser urged energy suppliers on Thursday to lift flows to meet demand, saying that the United States was concerned about their failure to do so. Rocketing gas prices, with the European benchmark up almost 600% this year, have been fuelled by low inventories and surging … Read more
CALGARY, Alberta, Oct 6 (Reuters) – Canada has invoked a 44-year-old treaty to trigger negotiations with U.S. President Joe Biden’s administration over a pipeline that the state of Michigan is trying to shut down because of concerns it could leak into the Great Lakes. Michigan is trying to force operator Enbridge Inc (ENB.TO) to shut down the … Read more
Oct 6, 2021 (Bloomberg) U.S. shale oil production will expand at a “modest rate” over the next 18 months even as prices touch multiyear highs, according to BloombergNEF, leaving OPEC in a powerful position as the world cries out for more barrels.Producers are using cash flow to pay down debt and reward shareholders rather than invest … Read more
Oct 6, 2021 (Bloomberg)Chemical manufacturers in North and South America have an advantage over rivals in Europe and Asia contending with unprecedented rallies in natural gas and oil, according to Dow Inc. Chief Executive Officer Jim Fitterling.Prices for plastics such as PVC surged to records earlier this year as a winter freeze and summer hurricanes … Read more
(Bloomberg) Oil fell further after Russia offered to ease Europe’s natural gas crisis and warned OPEC+ not to let crude prices run too high.Futures in New York fell as much as 3.2% before paring some of the losses. Russian President Vladimir Putin said record volumes of natural gas could potentially be exported to Europe this year as the … Read more
(Bloomberg) The United Arab Emirates has become the first of the Persian Gulf’s petrostates to commit to eliminating planet-warming emissions within its borders. “The UAE net-zero initiative will provide us with precision and boost our efforts to accelerate the energy transition,” the Department of Energy of Abu Dhabi, the capital, said in a statement. Dubai’s … Read more
Oct 7, 2021 (Bloomberg) The controversial Nord Stream 2 pipeline has the potential to ease Europe’s gas crisis, and Russia says the project is on track. But obstacles remain — and some of them could take months to clear.The 750-mile link under the Baltic Sea to Germany has been completed and has begun to receive gas … Read more
Oil explorers need to raise drilling budgets by 54% to more than half a trillion dollars to forestall a significant supply deficit in the next few years, according to Moody’s Investors Service Inc.Crude and natural gas drillers chastened by last year’s unprecedented collapse in demand and prices haven’t responded to the recent market rebound as … Read more
The Royal Dutch Shell logo is seen at a Shell petrol station in London, January 31, 2008. REUTERS/Toby Melville/File Photo Summary Cashflow boosted by higher deposits from gas, power buyers Hurricane Ida outages to dent earnings by $400 mln LNG liquefaction volumes drop to lowest since 2016 Fuel sales recover to highest since Q1 2020 … Read more
Summary High energy prices fuel inflation fears Europe debates joint gas purchases, strategic reserve Russia denies withholding gas, says boosting supplies Oct 6 (Reuters) – Soaring energy prices caused alarm among European leaders and sent shivers through global markets on Wednesday, raising concerns of a winter fuel crisis that could play into the hands of … Read more
DENVER, Oct. 06, 2021 (GLOBE NEWSWIRE) — PDC Energy, Inc. (“PDC” or the “Company”) (Nasdaq: PDCE) announced today that the Colorado Oil and Gas Conservation Commission (COGCC) approved the Company’s Spinney Oil & Gas Development Plan (OGDP) permit application. The Spinney, an eight-well pad in rural Weld County, Colorado, marks PDC’s first approved permit under … Read more
FRISCO, TX, Oct. 07, 2021 (GLOBE NEWSWIRE) — Comstock Resources, Inc. (“Comstock” or the “Company”) (NYSE: CRK) announced today that it has entered into an asset purchase agreement with Northern Oil & Gas, Inc. (“NOG”) to sell its assets in the Bakken shale for $154 million in cash, subject to adjustment and customary closing conditions. … Read more
by ENERGYminute See more articles and infographics from ENERGYminute HERE An oil spill estimated to be 3,000 barrels (572,807 litres for you metric folk) has occurred near Orange County, California. The spill was reported on Saturday and occurred about 5 miles off the coast, somewhere between an oil processing platform and the pipeline connecting it to shore. … Read more
WASHINGTON, Oct 6 (Reuters) – U.S. Energy Secretary Jennifer Granholm said on Wednesday that tapping the country’s emergency oil stash is being mulled by the administration to cool gasoline prices that have hit seven-year highs on higher demand as the coronavirus pandemic eases, according to a Financial Times report. “It’s a tool that’s under consideration,” … Read more
Summary OPEC+ decided against larger supply hike at Monday meeting OPEC figures show 43% plunge in oil-export income in 2020 Iraq oil minister says $75-80 fair LONDON/MOSCOW, Oct 6 (Reuters) – OPEC+’s decision on Monday to stick with a plan to raise oil output modestly and gradually, despite prices surging to multi-year highs, was partly … Read more
Oct 6 (Reuters) – Democratic members of Congress from California seized on the oil spill off the state’s coast to promote federal legislation to ban all offshore oil drilling, as investigators searched for what caused the pipeline to burst. About 3,000 barrels (126,000 gallons) of crude oil spilled into the Pacific Ocean, killing wildlife, soiling … Read more
Flames come out of a domestic gas ring of an oven in Durham, Britain, September 23, 2021. REUTERS/Lee Smith/File Photo Oct 6 (Reuters) – Volatility in U.S. natural gas futures jumped to a record on Tuesday on the back of an energy crunch in major world markets that has sent prices soaring globally. Natural gas … Read more
Oct 6, 2021 (Bloomberg) With winter fast approaching and a stunning energy price surge pummeling Europe, Russian President Vladimir Putin chose an opportune moment to use his country’s leverage as an oil and gas superpower. On a chaotic day that saw European benchmark gas surge 40% in a few minutes, Putin eased prices by offering to … Read more
Courtesy of Reuters Despite the potential collapse of Chinese real estate giant, Evergrande, dominating the news, an ongoing energy crisis has likely had a larger effect on the Chinese economy. The culprit? A massive shortage of coal. When it rains, it pours. How bad is it? It’s reported that factories in 20 of China’s 31 provinces have drastically reduced working … Read more
By John Kemp LONDON, Oct 5 (Reuters) – How high are oil prices really and what signal are they currently sending to producers and consumers about the need for more output and lower fuel use? The strength of a price signal depends on both the real level of prices adjusted for inflation and the rate … Read more
Oct 6, 2021 (Bloomberg) Oil erased an earlier gain to trade little changed as wider markets were pressured by risks to global growth. Futures in New York were down 0.6% after earlier climbing towards $80 a barrel. The dollar jumped and equity markets fell as investors weighed the outlook for economic growth before a key U.S. employment report, … Read more
Oct 6, 2021 (Bloomberg) The controversial Nord Stream 2 pipeline has the potential to ease Europe’s gas crisis, and Russia says the project is on track. But obstacles remain — and some of them could take months to clear. The 750-mile link under the Baltic Sea to Germany has been completed and has begun to receive … Read more
Oct 5, 2021 (Bloomberg) Lithium prices extended their yearlong rally as surging demand spurs a shortfall of the key battery material. Prices have more than doubled in the past year, according to a Benchmark Mineral Intelligence index of lithium carbonate and hydroxide. Demand for the materials used in electric cars and renewable-energy storage has soared and, … Read more
Oct 5, 2021 (Bloomberg)India is grappling with an escalating crisis as stockpiles of coal, the fuel used to generate about 70% of the nation’s electricity, dwindle to the lowest in years just as power demand is set to surge. Coal-fired power stations have an average of four days’ worth of stock of the fuel, according to the … Read more
Oct 5, 2021 Rich countries are racing to close a climate-finance shortfall of at least $10 billion, with a handful of European nations planning to increase their pledges this month ahead of crucial talks in Glasgow, Scotland, according to people familiar with the plans. Over a decade ago, developed countries promised to mobilize $100 billion … Read more
Oct 6, 2021 (Bloomberg) European gas prices surged again, bringing their gains over just two days to 60%, as the impact of soaring energy costs rippled through equity and bond markets and the European Union sounded the alarm. Dutch and U.K. gas futures continue to hit fresh records along with rising power prices. Rocketing energy costs … Read more
October 06, 2021 — Provides Updated Plans for Combined Company — — Continued Focus on Efficiency, Returns and Free Cash Flow Generation — HOUSTON, Oct. 06, 2021 (GLOBE NEWSWIRE) — Penn Virginia Corporation (“Penn Virginia” or the “Company”) (NASDAQ: PVAC) today announced it closed the acquisition of Lonestar Resources US Inc. (“Lonestar”) and plans to … Read more
October 05, 2021 DENVER, Oct. 05, 2021 (GLOBE NEWSWIRE) — Bonanza Creek Energy, Inc. (“Bonanza Creek”) (NYSE: BCEI) announced today that it has priced a private placement (the “Offering”) to eligible purchasers under Rule 144A and Regulation S of the Securities Act of 1933, as amended (the “Securities Act”) of $400.0 million in aggregate principal … Read more
October 06, 2021 DENVER, Oct. 06, 2021 (GLOBE NEWSWIRE) — Redeux Energy Partners (“Redeux” or the “Company”), a developer of utility-scale, clean energy projects, today unveiled additional details about its capital backing, operations and plans to develop gigawatts of renewable energy and storage assets. The funding was closed in late 2020, led by a combination of Cathexis Holdings and Thoroughbred … Read more
Why not setup in our local community? The founders of Academy Group of Companies asked this very question. Academy has some of the industry’s best trades people right here where we grew up in Alberta. Instead of bringing the people to the shop; we brought the shop to the people. It’s what continues to make … Read more
Workers seal off the entrance to Newport Beach harbor as a major oil spill off the coast of California travels south in ocean currents, towards Newport Beach, California, U.S., October 4, 2021. REUTERS/Mike Blake NEW YORK, Oct 5 (Reuters) – Oil spills into ocean waters, subject to winds and tides and spreading swiftly over wide … Read more
Pennsylvania’s attorney general filed criminal charges Tuesday against the developer of a problem-plagued pipeline that takes natural gas liquids from the Marcellus Shale gas field to an export terminal near Philadelphia. Attorney General Josh Shapiro announced the case at a news conference at Marsh Creek State Park in Downingtown, where Sunoco Pipeline LP spilled thousands … Read more
The logo of the Nord Stream 2 gas pipeline project is seen on a pipe at the Chelyabinsk pipe rolling plant in Chelyabinsk, Russia, February 26, 2020. REUTERS/Maxim Shemetov FRANKFURT, Oct 5 (Reuters) – Swiss-based Nord Stream 2 said it has appealed a court decision that confirmed the pipeline will not be exempt from European … Read more
Carrie Criado and Federico Marques, co-founders of PowellWell, which retrofits abandon oil wells to store electricity, pose for a picture, in Houston, Texas, U.S., September 16, 2021. REUTERS/Gary McWilliams HOUSTON, Oct 5 (Reuters) – U.S. clean-energy startups are booming as oil companies are giving them more attention and cash in a bid to speed up … Read more
Oct 4, 2021 (Bloomberg) Prices are surging across febrile global energy markets, but OPEC+ demonstrated that it’s not ready to be diverted from its trajectory of slow and steady oil-production increases. After a short meeting on Monday, ministers ratified a 400,000 barrel-a-day supply hike for November. While the cartel was simply sticking to its well-established plan … Read more
Oct 5, 2021 (Bloomberg) China ordered its banks to ramp up funding to coal and energy companies, another step in its efforts to ease a power crunch and ensure supplies this winter. Banks and other financial institutions should prioritize lending to qualified mines and power plants so they can increase thermal coal and electricity output, China … Read more
Oct 5, 2021 Reaching net-zero emissions means not just having snazzy electric cars and shiny solar power plants, but also eliminating the carbon footprints of the steel and cement used to make them.Some of the world’s biggest companies are signing up for a coalition created by John Kerry, U.S. special presidential envoy for climate, to scrub notoriously dirty industries, … Read more
Oct 5, 2021 (Bloomberg) Oil rose to a new seven-year high after OPEC+ chose to keep supplies fairly tight even as the world grapples with an energy crunch.Futures climbed above $78 a barrel in New York after surging 2.3% on Monday as Saudi Arabia and its partners opted for a modest output increase of 400,000 barrels a day. … Read more
October 05, 2021 Calgary, Alberta, Oct. 05, 2021 (GLOBE NEWSWIRE) — Today, Xfuels Inc. (OTC Pink: XFLS), a Calgary-based energy company, announces its entry into the Texas energy market with the formation of a new Texas subsidiary, Cycle Oil and Gas Inc. The first objective of Xfuels’ new subsidiary will be to acquire Texas-based oil … Read more
Oct 4 (Reuters) – Regional natural gas markets in the United States are seeing prices for this winter surge along with global record highs – suggesting that the energy bills causing headaches in Europe and Asia will hit the world’s top gas producer before long. Gas prices in Europe and Asia have more than tripled … Read more
By Geoffrey Cann Thanks to digital innovations, the energy system and fintech are converging in a powerful new model that may well disrupt the established order. Please pay attention. A Panel Discussion on Energy and Finance I recently delivered a keynote address and participated in a panel discussion on the convergence of energy technology and financial technology … Read more
FRANKFURT, Germany (AP) — Oil prices jumped Monday after OPEC and allied oil producing countries stayed with their gradual approach to restoring output slashed during the pandemic, agreeing to add only 400,000 barrels per day in November. The decision Monday by the Vienna-based oil cartel tracks with its established schedule of adding back that amount … Read more
WASHINGTON, Oct 4 (Reuters) – The U.S. Department of Justice is investigating suspected manipulation of energy pricing benchmarks published by S&P Global Platts, expanding the agency’s crackdown on misconduct in the global commodities market, according to four people familiar with the matter. London-based Platts is a data and news provider which focuses on energy, metal … Read more
Oct 4, 2021 (Bloomberg) Oil flipped between gains and losses ahead of an OPEC+ meeting on Monday to discuss production policy amid a rapidly tightening market.Futures in New York were little changed and remain near $76. The Organization of Petroleum Exporting Countries and its allies are unlikely to add more than their planned volume of 400,000 … Read more
HOUSTON, Oct. 04, 2021 (GLOBE NEWSWIRE) — Amplify Energy Corp. (NYSE: AMPY) (“Amplify”, “Amplify Energy” or the “Company”) announced today that on Saturday, October 2, 2021, Beta Offshore (a subsidiary of Amplify Energy) first observed and notified the US Coast Guard of an oil sheen approximately four (4) miles off the coast in Southern California … Read more
October 01, 2021 MIDLAND, Texas, Oct. 01, 2021 (GLOBE NEWSWIRE) — Viper Energy Partners LP (NASDAQ:VNOM) (“Viper” or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), today announced it has completed its previously announced acquisition of certain mineral and royalty interests from Swallowtail Royalties LLC and Swallowtail Royalties II LLC, portfolio companies of … Read more
October 01, 2021 HOUSTON, Oct. 01, 2021 (GLOBE NEWSWIRE) — Dril-Quip, Inc. (NYSE: DRQ) (the “Company” or “Dril-Quip”) announced today that Raj Kumar, Vice President and Chief Financial Officer, has resigned his position with Dril-Quip effective November 1, 2021 to take another opportunity and will assist in a smooth transition of his duties. The Company has engaged … Read more
In the energy sector, KPIs dominate. But the latest metric to drive decisions in the sector is notoriously difficult to quantify – ESG. Gathering data on a company’s environmental, social and governance performance is challenging because the information is often self-reported and can be subjective. In addition, a myriad of datapoints, found from a wide … Read more
This SKYMOD is comprised of eight truck offload stations connected to an overhead piping system and can expand to accommodate two future truck offload stations. In February 2020, Sky Eye was awarded and kicked off front-end engineering design (FEED) for a 975m3/hr Heavy Oil Truck Offloading Terminal for a Western Canadian producer. This project included … Read more
By Vista Projects 18 months into the pandemic, most office workers have come to terms with the idea of working remotely. In fact, many workplaces will never return to a full in-person operation. Here’s Deloitte’s view of the situation: The traditional “day at the office” has changed. The future will likely center around adaptive workplaces—a … Read more
Check out David Blanco and Chad Carriere as they discuss the latest advances in the industrial automation industry and the issues we all face today, on the Crownsmen Energy show. David Blanco’s LinkedIn Chad Carriere’s LinkedIn Learn more about AUTOSOL HERE
(Bloomberg) When the OPEC+ alliance of oil producers gathers Monday, group leader Saudi Arabia can savor a moment of triumph.Eighteen months after slashing crude production during the pandemic, Riyadh is set to pump at almost pre-Covid levels of 9.8 million barrels a day this month as a recovering global economy clamours for energy supplies.Furthermore, by … Read more
Oct 3, 2021 (Bloomberg) The OPEC+ cartel’s production policy will be the main factor influencing oil prices over the coming months, according to Vitol Group.There’s little chance of Iranian barrels returning to global markets this year and U.S. shale producers aren’t investing enough to raise output quickly, the world’s largest independent oil trader said.“Control of pricing … Read more
Oct 3, 2021 (Bloomberg) California beaches in Northern Orange County were closed and wetlands contaminated by a huge oil spill caused by a broken pipeline off the coast. About 3,000 barrels of oil leaked from the pipeline and washed up on beaches and wetlands in Huntington Beach, a popular spot for Southern California surfers and beach … Read more
Oct 3, 2021 (Bloomberg) The global economy is entering the final quarter of 2021 with a mounting number of headwinds threatening to slow the recovery from the pandemic recession and prove policy makers’ benign views on inflation wrong.The spreading delta variant continues to disrupt schools and workplaces. U.S. lawmakers are wrangling over the debt ceiling and spending plans. China is … Read more
The logo of the Organisation of the Petroleum Exporting Countries (OPEC) sits outside its headquarters ahead of the OPEC and NON-OPEC meeting, Austria December 6, 2019. REUTERS/Leonhard Foeger/File Photo LONDON, Oct 3 (Reuters) – OPEC and its allies meet on Monday to debate how much oil to release into the red hot market, where supply … Read more
Oct 1, 2021 (Bloomberg) The global energy crunch could help propel oil prices above $100 a barrel for the first time since 2014 and spur a global economic crisis, according to Bank of America.Natural gas prices have already surged to almost double that level in oil equivalent terms, and BofA says a spike in demand for diesel could … Read more
A sign informs customers that fuel has run out at a petrol station in Hemel Hempstead, Britain, September 29, 2021. REUTERS/Matthew Childs/File Photo Oct 1 (Reuters) – British gasoline stations running dry, surging power costs in the European Union ahead of winter, forced restrictions on energy use in China and rising oil, natural gas and coal prices. … Read more
Oct 1 (Reuters) – U.S. energy firms this week added oil and natural gas rigs for a fourth week in a row as more storm-hit offshore units resumed service in the Gulf of Mexico, and as crude prices this week hit three-year highs, prompting drillers to return to the wellpad. The oil and gas rig … Read more
WASHINGTON — Enbridge Inc. says it remains committed to a mediated settlement of its Line 5 dispute, even though the state of Michigan has given up on the talks. The Calgary-based pipeline giant says both sides are legally obliged to engage in good-faith efforts to resolve the long-running dispute over the cross-border line, a key … Read more
Oil rose in tandem with equity markets while traders turned their attention to an upcoming OPEC+ meeting that may yield supply increases. Futures in New York rose 1.1% on Friday. U.S. benchmark crude posted a sixth straight weekly gain, the longest streak of weekly advances since early July. Buzz continued around whether on Monday OPEC … Read more
By Kate Mackenzie Oct 1, 2021 (Bloomberg) A quiet celebration took place in London last month. It marked the 10th anniversary of the “Carbon Bubble” report, published by the think tank Carbon Tracker Initiative, that’s become one of the most influential arguments against burning fossil fuels. The report’s starting point was another pioneering piece of research. Malte … Read more
By John Kemp High-voltage power lines and electricity pylons pictured near Berlin, November 7, 2006. REUTERS/Pawel Kopczynski LONDON, Oct 1 (Reuters) – Europe’s increasingly expensive gas and electricity prices are sending a strong signal to manufacturers to consider temporary plant closures and to home and office owners to turn down thermostats to conserve fuel this winter. … Read more
A liquified natural gas (LNG) tanker leaves the dock after discharge at PetroChina’s receiving terminal in Dalian, Liaoning province, China July 16, 2018. REUTERS/Chen Aizhu/File Photo Summary Asian LNG prices surge from below $2/mmBtu to above $34/mmBtu European gas storage at low levels, fuelling restocking efforts Maintenance at LNG plants prolonged and delayed due to … Read more
NEW YORK (AP) — Brace for a rude surprise on your winter heating bills. After years of unusually inexpensive levels, the price of natural gas in the United States has more than doubled since this time last year. In Europe and Asia, wholesale prices are more than five times what they were a year ago. … Read more
NEW ORLEANS (AP) — President Joe Biden’s administration says it has followed a court order to schedule an offshore oil and gas lease sale for the Gulf of Mexico after the Democratic president’s moratorium on new oil and gas leasing on federal lands was blocked by a judge. The sale will be livestreamed from New … Read more
The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria, September 28, 2016. REUTERS/Ramzi Boudina Sept 30 (Reuters) – OPEC+ is considering going beyond its existing deal to boost production by 400,000 barrels per day (bpd) when it meets next week, sources … Read more
September 30, 2021 Welltec Prices $325 Million Senior Secured Notes Offering Allerød, Denmark (September 30, 2021) — Welltec International ApS (Welltec) has priced its offering of $325 million in aggregate principal amount of its 8.250% senior secured notes due 2026 (New Notes). The offering is expected to close on October 15, 2021. Welltec intends to use the proceeds … Read more
Initiates Continuous Emissions Monitoring Pilot and Responsibly Sourced Gas Certification September 30, 2021 TULSA, OK, Sept. 30, 2021 (GLOBE NEWSWIRE) — Laredo Petroleum, Inc. (NYSE: LPI) (“Laredo” or the “Company”) today published its 2021 ESG and Climate Risk Report, disclosing key performance data for 2020 operations. The report significantly enhances the Company’s prior disclosures with … Read more
September 30, 2021 DENVER, Sept. 30, 2021 (GLOBE NEWSWIRE) — PDC Energy, Inc. (“PDC” or the “Company”) (Nasdaq:PDCE) today provided several Company updates including preliminary third quarter operating results and revised 2021 full-year guidance. Further, the Company announced its third quarter earnings call, scheduled for Thursday, November 4, 2021. 2021 Third Quarter Highlights: Anticipate total … Read more
Sep 30, 2021 (Bloomberg) Two of Big Oil’s biggest players dropped their long-term energy outlooks this week: French energy company TotalEnergies and the Organization of the Petroleum Exporting Countries. They offer quite different visions of the world 25 years from now. The European energy major sees a future driven by technology and policy; the cartel presents a vision that … Read more
Sep 30, 2021 (Bloomberg) The world’s biggest solar panel producers are asking customers to consider delaying purchases amid a snarled supply chain and rising material prices. Companies including Longi Green Energy Technology Co. and Trina Solar Co. said in an open letter they hoped customers would consider delaying installations and avoid a rush to meet end-of-the-year deadlines. The … Read more
Sep 30, 2021 (Bloomberg) Oil traded below $74 as the potential boost to demand caused by the global energy crunch was weighed against the impact of the crisis on the wider economy.Futures in New York pared earlier gains as the dollar erased losses, making commodities priced in the currency less attractive. Thursday marks both the end … Read more
September 30, 2021 FREMONT, Calif., Sept. 30, 2021 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ: ENPH), a global energy management technology company and the world’s leading supplier of microinverter-based solar-plus-storage systems, today announced that Sunpro Solar, a top rooftop solar provider and one of the fastest-growing residential solar-plus-storage service providers in the U.S., will now promote and … Read more
Alex Beard, head of oil at trading firm Glencore, looks on during an interview in Tlalnepantla, state of Mexico, Mexico, August 17, 2017. REUTERS/Ginnette Riquelme/File Photo Summary Beard’s fund to invest in UK battery storage Batteries can cushion shocks and help power trading UK facing energy crisis LONDON, Sept 30 (Reuters) – Alex Beard is … Read more
A natural gas flare on an oil well pad burns as the sun sets outside Watford City, North Dakota January 21, 2016. REUTERS/Andrew Cullen Summary Demand growth seen at 5-6 mbpd in 2021, 3.5-5 mbpd in 2022 OPEC+ will be cautious in adding barrels – analyst For a table of crude price forecasts, click Sept … Read more
Sep 29, 2021 (Bloomberg) Countries committed to net-zero emissions are increasingly looking to hydrogen as a key part of their energy plans, a transition that Wednesday’s Bloomberg H2 Road to Net Zero conference in Milan will examine.The trend is already driving a surge in hydrogen-related technology sales, with global installations of electrolyzers, the hardware needed to split … Read more
Sep 29, 2021 (Bloomberg) Indian motorists will struggle to move away from gasoline- and diesel-powered cars over the next quarter of a century, suggesting the nation’s push toward as electric vehicles may not be a complete success, OPEC said. Diesel and gasoline will make up 58% of India’s oil demand in the next 25 years, from … Read more
Sep 29, 2021 (Bloomberg) America’s oil producers are boosting output at a slower place as record costs hammer the shale patch, according to a survey of industry executives. Out of 47 responding companies that supply producers with everything from software to workers, just one reported lower input costs in the third quarter, according to a report … Read more
Sep 29, 2021 (Bloomberg) The unprecedented spike in European Union energy prices is amplifying concerns about public support for the world’s most ambitious climate reform and reshaping agendas for key political meetings.The crisis is set to be debated by environment ministers on Oct. 6 following Poland’s call to carefully consider its impact on a planned green economic overhaul, … Read more
A sign informs customers that fuel has run out at a petrol station in Hemel Hempstead, Britain, September 29, 2021. REUTERS/Matthew Childs/File Photo Sept 29 (Reuters) – Gasoline stations running dry in Britain. Power costs surging in the European Union ahead of winter. Forced restrictions on energy use in China. And rising prices for oil, … Read more
The Bryan Mound Strategic Petroleum Reserve, an oil storage facility, is seen in this aerial photograph over Freeport, Texas, U.S., April 27, 2020. REUTERS/Adrees Latif/File Photo Sept 29 (Reuters) – U.S. crude oil, gasoline and distillate inventories rose last week as the production rebounded from recent storms, the Energy Information Administration said on Wednesday. Crude … Read more
Sept 29 (Reuters) – U.S. shale producer Chesapeake Energy Corp (CHK.O) is preparing to name long-time finance chief Domenic Dell’Osso Jr. as its next top executive, according to three people familiar with the matter. Dell’Osso, who has been with the company since 2008, would replace board chairman Mike Wichterich, who became interim CEO after ousting former … Read more
Electricity transmission towers are pictured near Beijing’s Central Business District (CBD), China September 28, 2021. REUTERS/Tingshu Wang BEIJING, Sept 29 (Reuters) – China is in the grip of a power crunch as coal supply shortages combined with strong power demand from manufacturers, industry and households push coal prices to record highs and trigger widespread curbs … Read more
An oil tanker is seen in the sea outside the Puerto La Cruz oil refinery in Puerto La Cruz, Venezuela July 19, 2018. Picture taken July 19, 2018./File Photo SINGAPORE, Sept 29 (Reuters) – The global oil tanker market faces another year of low earnings as the coronavirus pandemic and vaccine inequalities disrupt demand and … Read more
CALGARY, Alberta, Sept. 29 (Reuters) – Enbridge Inc (ENB.TO) said on Wednesday its Line 3 pipeline would be operational from Oct. 1, marking the completion of a long-delayed replacement project that would increase the capacity of crude deliveries from Canada to U.S. refineries. Line 3, built in the 1960s, carries oil from Edmonton, Alberta, to Superior, Wisconsin, … Read more
Sep 29, 2021 (Bloomberg) SSE Plc formed a joint venture in Japan to gain a foothold in one of the most promising markets for offshore wind. The Scottish utility, one of the companies behind the world’s largest offshore wind park, will pay $208 million to take an 80% stake in a joint venture with Pacifico Energy, … Read more
Sep 29, 2021 (Bloomberg) Oil fell after a U.S. industry report pointed to a build in crude stockpiles, cooling a rally that had pushed benchmark Brent past $80 a barrel. Brent futures slid back below $79, while West Texas Intermediate also dropped. The American Petroleum Institute reported a 4.13 million-barrel weekly gain in U.S. crude stocks, … Read more
Sep 29, 2021 (Bloomberg) As automakers scramble to make electric vehicles with longer ranges and speedier charging times, the chip industry has a message for them: You’re doing it wrong.Semiconductor companies are urging EV makers to ditch traditional silicon chips and embrace materials that will make cars more efficient, helping ease consumers’ “range anxiety” and someday making recharges as … Read more
Thursday, September 30th | 12:00pm MDT It is not of course – it looks like black molasses! But that doesn’t stop us from using Near Infrared Spectroscopy to take real-time measurements in diluted bitumen applications and using those measurements to monitor vapor pressure in these dark, asphaltene laden and highly viscous streams. Real-time analysis allows for … Read more
Sur-Flo paddle meters aren’t just designed to work, they’re engineered to make work easier. They’re accurate to 1% reading, low maintenance and easy to replace or service. In fact, customers report that Sur-Flo’s patented paddle meter lasts six-times as long as conventional turbine meters and takes less than half the time to service. The result? … Read more
Cenozon’s FIND – Field Integration and Navigation Data – provides a complete solution for managing field operations. As a mobile app, operators can bring a interactive GIS map of their operations into the field. The application can use GPS to provide turn-by-turn directions to an asset, and once there, provide a complete workflow form. Pigging, … Read more
Summary Group says oil demand in 2023 to surpass 2019 level Trims 2030, 2045 oil demand forecasts Says global oil demand to plateau after 2035 Sees OPEC supply in 2026 still below 2019 LONDON, Sept 28 (Reuters) – Oil demand will grow sharply in the next few years as economies recover from the pandemic, OPEC … Read more
Sep 27, 2021 (Bloomberg) A $1 billion project to haul natural gas from Pennsylvania to New Jersey has become the latest casualty of opposition to pipelines across the U.S.PennEast Pipeline Co., a joint venture of five companies including Southern Co. and Enbridge Inc., halted development on the proposed 116-mile (187-kilometer) conduit after failing to receive water-quality … Read more
Sept 28 (Reuters) – The COVID-19 pandemic this year has dented oil consumption and brought forward forecasts by energy majors, producers and analysts for when the world’s demand for oil may peak. Demand was about 100 million barrels per day (bpd) in 2019 and has yet to recover to that level because of the pandemic. … Read more
A truck driver walks back to his rig after having it weighed at the Lincolnway Energy plant in the town of Nevada, Iowa, December 6, 2007. REUTERS/Jason Reed/File Photo NEW YORK, Sept 28 (Reuters) – A group of U.S. Democratic lawmakers called on President Joe Biden to halt a plan to slash the amount of … Read more
Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. REUTERS/Drone Base/File Photo Summary Demand uncertainty, energy transition hit oil, gas investments Global oil demand to reach pre-pandemic levels early 2022 -execs Long time before alternative energies can meet oil demand -exec SINGAPORE, … Read more
Sep 28, 2021 (Bloomberg) European energy markets from natural gas to carbon permits jumped to records, signaling the supply shortage will get worse just as the winter season starts.Stockpiles of everything from gas to coal and Norwegian water for electricity production are dwindling and there are few signs the situation will improve anytime soon as demand … Read more
Sep 28, 2021 (Bloomberg) Brent oil roared above $80 a barrel, the latest milestone in a global energy crisis, on signs that demand is running ahead of supply and depleting inventories. The international crude benchmark extended a recent run of gains to hit the highest since October 2018, while West Texas Intermediate also climbed. Oil’s latest … Read more
Sep 28, 2021 (Bloomberg) U.K. gasoline prices barely budged in the last week as a shortage of delivery drivers prompted panic buying. Pump prices inched up just 0.3 pence to 135.19 pence ($1.84) per liter for unleaded petrol over the week through Monday, according to figures published Tuesday by the Department Business, Energy and Industrial Strategy. The figures … Read more
Sep 27, 2021 (Bloomberg) Global oil consumption is expected to return to pre-pandemic levels in the the third quarter of 2022, with Asia continuing as the center for oil-product demand growth, according to BP Plc. Oil demand in 2022 is expected to see an average gain of 3.8 million barrels a day year-on-year, easing from growth … Read more
Sep 27, 2021 (Bloomberg) A prominent U.S. solar industry-group is warning that expanded tariffs — if imposed by the Commerce Department — would crimp installations at a time when the Biden administration is pushing to significantly boost sun-based power. The Solar Energy Industries Association estimates that potential duties on some imports from Malaysia, Vietnam and Thailand … Read more
Sep 27, 2021 (Bloomberg) Natural gas prices surged to a fresh seven-year high in the U.S. as the expiration of October options added momentum to a rally fueled by escalating concerns about tight winter supplies. Gas for October delivery gained 11%, the biggest daily jump since February, settling at $5.706 per million British thermal units, a … Read more
September 27, 2021 Houston, Sept. 27, 2021 (GLOBE NEWSWIRE) — Shell Midstream Partners, L.P. (NYSE:SHLX) (“Shell Midstream Partners” or the “Partnership”) today announced that it expects outages and repairs related to Hurricane Ida to have an impact to both net income and cash available for distribution of approximately $45 to $55 million for the third … Read more
September 27, 2021 FORT WORTH, Texas, Sept. 27, 2021 (GLOBE NEWSWIRE) — RANGE RESOURCES CORPORATION (NYSE: RRC) (“Range” or the “Company”) today announced the appointment of Reginal W. Spiller to its Board of Directors, concurrent with the retirement of Dr. Steffen A. Palko, effective September 27, 2021. Range Chairman, Greg Maxwell stated, “We are very pleased to … Read more
Sep 27, 2021 (Bloomberg) French energy giant TotalEnergies SE expects global oil demand to peak before the end of this decade, as more nations crack down on fossil fuels and promote cleaner power in transport and industry to mitigate global warming.Total’s 2021 Energy Outlook, which takes into account new net-zero pledges made by countries including the … Read more
MELBOURNE, Sept 27 (Reuters) – Oil and gas services giant Baker Hughes Co (BKR.N) sees the need for global liquefied natural gas (LNG) capacity to rise to 800 million tonnes by 2030, more than double current capacity, its chairman said on Monday. Baker Hughes sees strong prospects for gas in the transition to cleaner energy, with … Read more
By Geoffrey Cann In case you think blockchain technology is losing its appeal to oil and gas, think again. A recent conference highlights how this sleeper technology is powering ahead. The Only Blockchain Oil and Gas Conference The Energy Conference Network hosts the only oil and gas gathering dedicated to the power and potential of blockchain … Read more
U.S. oil and gas industry employs 5 million people and contributes billions to the national economy By Lennie Kaplan and Mark Milke U.S oil refinery complex. Getty Images photo Download the PDF here Download the charts here Overview A strong American oil and gas industry is a critical element of economic prosperity and the North American energy security network linking … Read more
A floating fuel filling station belonging to Nigeria’s state oil firm Nigerian National Petroleum Corporation (NNPC) sits idle on a river in the oil rich southeastern Delta state, Nigeria June 18, 2017. REUTERS/Tife Owolabi/File Photo Summary Delayed maintenance, low investment limit oil output Angola and Nigeria pumped average of 276kbpd below quota – data Nigerian … Read more
Summary Spare refining capacity likely to weigh on margins Petrol, diesel consumption trends indicate growth Hess sees global oil demand at 100 mln bpd by end-2021/Q1 2022 SINGAPORE, Sept 27 (Reuters) – Global oil demand is expected to reach pre-pandemic levels by early next year as the economy recovers, although spare refining capacity could weigh … Read more
Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. REUTERS/Drone Base/File Photo Sept 27 (Reuters) – Goldman Sachs raised its forecast for year-end Brent crude oil prices to $90 per barrel from $80, as a faster fuel demand recovery from Delta variant … Read more
Summary Petrol stations run dry in major British cities Trucker shortage strains British economy Germany’s Scholz: we told UK not to Brexit Gas stations appeal for calm after panic buying LONDON, Sept 27 (Reuters) – Up to 90% of British fuel stations ran dry across major English cities on Monday after panic buying deepened a … Read more
Sep 27, 2021 (Bloomberg) Investors placed more than $34 billion of orders for Abu Dhabi-based Adnoc Drilling Company PJSC’s $1.1 billion initial public offering, further underscoring the global clamor for equity deals. Abu Dhabi National Oil Co. sold 11% of the subsidiary in what ranks as the biggest stock-sale yet in the emirate. Adnoc Drilling’s shares … Read more
Sep 27, 2021 (Bloomberg) China Evergrande Group’s electric-car unit plunged in Hong Kong trading after it warned of a “serious shortage of funds,” taking its losses in market value from an April peak past $84 billion.Shares of China Evergrande New Energy Vehicle Group Ltd. closed down 9.4%, extending this year’s decline to 93.3%. At its peak in April, … Read more
Sep 27, 2021 (Bloomberg) Oil rallied at the start of the week’s trading on signs that the crude market is tightening amid a global energy crunch. West Texas Intermediate topped $75 a barrel after a run of five weekly gains, while Brent reached the highest level since October 2018. Prices are set to continue rallying as … Read more
Sep 24, 2021 (Bloomberg) Senate Democrats are developing a carbon-tax proposal that could potentially be used to offset some of the costs of a sweeping social-spending bill as well as direct cash payments to households, according to a key lawmaker.“It’s projected that making polluters pay — when combined with clean energy tax credits — would lower … Read more
“Cybersecurity: technologies, processes and practices designed to protect networks, computers, programs and data from attack, damage, or unauthorized access.” Today’s employees are connected to the Internet all day every day, communicating with colleagues and stakeholders, sharing critical information, and jumping from site to site. With hackings, data breaches and ransomware attacks on the rise, it … Read more
Turnkey products and services are today’s way of providing mining companies with easy, stress-free operations. This goes for installing a new industrial building, mechanical system, and more. Companies like Cobra Structures realize the advantage of offering turnkey products and services. In particular, Cobra Structures and their sister company Cobra Mechanical have taken every step necessary … Read more
Evolving industry standards bringing HSE aboard Working on a project for a field services company can involve operational risks at the project site. Businesses aim to provide a safe environment for all employees. They are making sure the procedures at all stages of the project align with sustainability metrics. That is why they tend to … Read more
Partnering with Viper, Osperity can now provide a reliable way of detecting fugitive emissions in industrial settings. Viper’s technology will work seamlessly with Osperity’s visual monitoring platform, meaning clients can rely on automated inspection reports, monitoring and exception-based alerting which will greatly assist industrial companies to further improve environmental initiatives, HSE compliance with automated leak … Read more
Sept 24 (Reuters) – U.S. energy firms this week added oil and natural gas rigs for a 14th month in a row as more offshore units in the Gulf of Mexico returned to service after shutting when Hurricane Ida slammed into the coast in late August. This week, 3 offshore rigs returned in the Gulf … Read more
HOUSTON, Sept 24 (Reuters) – Houston-based oil producer Hilcorp (HILCO.UL) is evaluating Phillips 66’s (PSX.N) refinery in Alliance, Louisiana, for conversion into an oil export terminal, said four sources familiar with the matter, a move that would eliminate it as a source of motor fuels. Hilcorp, the largest privately owned U.S. oil producer, with operations from Alaska … Read more
Sep 24, 2021 (Bloomberg) Energy Transfer LP confirmed it released gas from a pipeline where satellite data showed a methane leak, highlighting the uphill battle to curb emissions of one of the most potent global warming culprits. The emissions detected by satellite this month near Pleasant Hill, Missouri, and analyzed by Kayrros SAS, appeared to stem … Read more
Claudio Descalzi, CEO of Italian energy company Eni talks to media at the Presidential Palace in Nicosia, Cyprus April 25, 2018. REUTERS/Yiannis Kourtoglou/File Photo MILAN, Sept 25 (Reuters) – Soaring gas prices as winter approaches are evidence that the European Union needs to work out a long-term energy security plan, the head of Italy’s Eni (ENI.MI) has … Read more
By David Wethe Sep 24, 2021 (Bloomberg) After six earthquakes rattled the Permian Basin over the past 19 months, the Texas oil regulator is asking drillers to cut back on the amount of dirty water they’re pumping underground.Oil producers’ disposal of wastewater from fracking is probably contributing to seismic activity in an area of the Permian’s … Read more
Sep 24, 2021 (Bloomberg) The free ride for methane, a climate-warming gas 84 times stronger than carbon dioxide, is finally nearing an end in Washington.While one atmosphere-heating pollutant after another has fallen under regulators’ sway, powerful petrochemical interests and, until recently, scientific uncertainty about the scale of the problem, have thwarted methane restrictions. That will begin … Read more
Sep 24, 2021 (Bloomberg) Oil rose for the fifth straight week with the global energy crunch set to boost demand for crude as stockpiles decline from the U.S. to China.Futures in New York gained 2.8% this week. The global benchmark Brent settled at the highest in nearly three for the second day in a row. Global … Read more
LONDON, Sept 24 (Reuters) – Record gas and electricity prices in Europe, record coal prices in China, multiyear-high gas prices in the United States and oil prices well above their real long-term average are all manifestations of the same global energy shortage. In the aftermath of the coronavirus recession, energy production has failed to keep … Read more
Summary Equinor benefits more than ever from spot price spike Gazprom adjusted its sales strategy after EU reforms EU reforms led to flexible supply but volatile prices OSLO/MOSCOW/LONDON, Sept 24 (Reuters) – Norway and Russia are big winners from Europe’s gas price rally as they benefit from volatility after the European Union forced their gas … Read more
Sep 24, 2021 (Bloomberg) European electricity producers are snapping up coal cargoes as a shortage of natural gas forces utilities to burn the dirtiest of fossil fuels. A shipment for delivery next month at a major European hub traded at $200 a metric ton, the highest since 2008, according to traders who saw the transaction on … Read more
Sep 23, 2021 (Bloomberg) Seven countries have signed a pledge initiated by the United Nations to stop building new coal power plants, with the aim to gather more signatures before the global climate summit COP26 in Glasgow next month. The No New Coal agreement is the latest attempt to try and piece together a global phase-out of the … Read more
Sep 23, 2021 (Bloomberg)When researchers flew over an Energy Transfer LP facility in the Permian Basin of West Texas two months ago, a NASA-designed sensor on their airplane detected a colossal plume of methane pouring into the air. Over the next two weeks, they returned twice and found large amounts of the powerful greenhouse gas … Read more
Sep 23, 2021 (Bloomberg) Opponents of Russia’s latest natural gas pipeline to the European Union long saw the project as a threat to Ukraine’s economy and security. In the time it has taken to complete Nord Stream 2, the risks have changed. The 1,200 km (756 mile) sub-marine gas link from Russia to Germany has been controversial, … Read more
LONDON, Sept 24 (Reuters Breakingviews) – Europe’s leaders need an energy intervention. The factors that caused the continent’s gas prices to treble, pushing the cost of electricity through the roof, are not going away. Yet fixing the problem requires finding ways to use less power, not just cranking up other sources. The current crisis has … Read more
The logo for ConocoPhillips is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., January 13, 2020. REUTERS/Brendan McDermid/File Photo Sept 23 (Reuters) – ConocoPhillips (COP.N) is offering to sell about $500 million in conventional oil and gas properties in the top U.S. oil basin, according to a … Read more
Energy company RWE npower’s new gas-fired Pembroke Power Station, the largest of its type in Europe, is seen during its completion ceremony in Pembroke, Wales September 19, 2012. REUTERS/Rebecca Naden/File Photo LONDON, Sept 23 (Reuters) – Record natural gas prices across Europe signal the urgent need to reduce consumption and build inventories to lower the … Read more
A view of the ExxonMobil Baton Rouge Refinery in Baton Rouge, Louisiana, U.S., May 15, 2021. REUTERS/Kathleen Flynn/File Photo HOUSTON, Sept 23 (Reuters) – U.S. oil refiners hunting to replace crude lost after a storm hit the U.S. Gulf of Mexico last month have been turning to Iraqi and Canadian oil, while Asian buyers have … Read more
September 23, 2021 MIDLAND, Texas, Sept. 23, 2021 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or “the Company”) today released its 2021 Corporate Sustainability Report. The online report outlines Diamondback’s commitment to environmental responsibility, managing and reducing risks, governance and business ethics, and our commitment to our people and communities. The report highlights … Read more
HOUSTON, Sept. 23, 2021 (GLOBE NEWSWIRE) — Alpha Energy, Inc. (OTC.PK – APHE) (“Alpha”) is pleased to announce that on September 10, 2021, its wholly owned subsidiary Alpha Energy Texas Operating LLC was granted Operator Status in the State of Oklahoma by the Oil and Gas Conservation Division of the Oklahoma Corporation Commission. This action … Read more
Sep 23, 2021 (Bloomberg) –Oil and gas companies are being bankrolled by some of the biggest names in finance to tap the Arctic’s vast natural wealth even as warnings grow about the melting ice cap due to man-made global warming. Gazprom PJSC, ConocoPhillips and TotalEnergies SE are among energy firms expanding their fossil-fuel expansion in the region, … Read more
Sep 23, 2021 (Bloomberg) Oil edged down from its highest close in almost two months amid ongoing concerns about the risk to markets from China Evergrande Group’s ongoing tumult. However, there are signals that stockpiles globally are declining.Futures in London fell after earlier touching their highest level since July 14. Dow Jones reported that China has … Read more
NEW YORK, Sept 23 (Reuters) – Tech firm Honeywell International Inc (HON.O) and consulting and engineering company Wood are set to launch a technology solution to help companies reduce carbon intensity when making sustainable aviation fuel, the partners said on Thursday. The solution could benefit producers of sustainable aviation fuel, or SAF, as they could be … Read more
Exterran Water Solutions Awarded Significant Contract September 23, 2021 HOUSTON, Sept. 23, 2021 (GLOBE NEWSWIRE) — Exterran Corporation (NYSE: EXTN) (“Exterran” or the “Company”) today offered a commercial update. The Company has been awarded a new Contract Operations project for our Exterran Water Solutions business at a similar value to the project the Company announced … Read more
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