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Oil snaps inverse dollar link leaving little to check its bull run

LONDON, May 26 (Reuters) – Oil’s bull run is taking little notice of the strong U.S. dollar, breaking crude’s historical inverse link to the greenback and giving analysts confidence it has further to go based on current market fundamentals. A strong dollar typically weighs on oil prices because it makes the commodity more expensive for … Read more

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Global LNG markets brace for unknowns ahead of winter

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DAEGU, South Korea, May 26 (Reuters) – Global liquefied natural gas (LNG) buyers and sellers are bracing for more uncertainty over Russian supplies and a murky demand outlook from Europe and top importer China in the run-up to peak winter season, industry executives said. Western sanctions on Russia due to the Ukraine invasion have sparked … Read more

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Chevron Shareholders Reject Proposal to Disclose Climate Risks

May 25, 2022 (Bloomberg) Chevron Corp. shareholders rejected two proposals calling for the US oil major to disclose climate risks to its business and set more rigorous targets to cut pollution. More than 60% of shareholders voted against the proposals during Chevron’s annual meeting on Wednesday, according to preliminary results issued by the company. The votes … Read more

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US Drivers Begin to Balk at Record Gas Prices

May 25, 2022 (Bloomberg) US gasoline demand — earlier expected to hold strong this summer despite soaring prices — is starting to show signs of cracks. Demand on a four-week rolling basis just tumbled to the lowest level for this time of year since 2013, not counting 2020 when consumption was shattered due to the pandemic. … Read more

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Exxon Investors Back IEA Net-Zero Reporting in Surprise Vote

May 25, 2022 (Bloomberg) Exxon Mobil Corp. shareholders backed a proposal calling for more environmental disclosures, signaling the company needs to improve its climate reporting even after activist investor Engine No. 1’s victory last year. Some 52% of shareholders voted in favor of releasing an audited report assessing how the International Energy Agency’s plan to reach … Read more

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Natural Gas Tops $9 in US as Supply Crunch Concerns Mount

Natural Gas Flame

May 25, 2022 (Bloomberg) Natural gas briefly surged above $9 per million British thermal units in the US for the first time since 2008, extending a breakneck rally as fears of a supply crunch intensified, before paring gains into close. Stockpiles of the heating and power-plant fuel are below normal for this time of year as … Read more

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The Reasons to Worry Just Keep Piling Up for Davos Executives

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May 26, 2022 (Bloomberg) War in Ukraine, rampant inflation and now a brewing global food crisis. If attendees at this year’s World Economic Forum came to Davos worried, they left with little to comfort them. As guests of the first in-person WEF conference in two years prepare to head home, they do so increasingly concerned about … Read more

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Oil Gains as US Stockpiles Tighten Ahead of Driving Season

May 26, 2022 (Bloomberg) Oil rose for a second day after US crude and gasoline stockpiles declined further as motorists prepare to take to the road for the summer driving season. West Texas Intermediate futures surpassed $111 a barrel after data on Wednesday showed crude inventories at the storage hub in Cushing, Oklahoma, slumped to the … Read more

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Scholz Urges Wider Alliance Against Russia to Thwart Putin

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German Chancellor Olaf Scholz called for more countries to join international efforts to isolate Russia, saying President Vladimir Putin must not be allowed a victory in Ukraine that could embolden other warmongers. Scholz’s plea came as the European Union struggles to maintain a united front in talks over further sanctions against Moscow, and many emerging … Read more

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Lithium Crisis Threatens Electric Car Boom After 500% Price Surge

The Trouble With Lithium Elon Musk wants to mine it, China is scouring Tibet for it, battery makers are crying out for it. Lithium, the wonder metal at the heart of the global shift to electric cars, is in a full-blown crisis. Demand has outstripped supply, pushing prices up almost 500% in a year and hindering the … Read more

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South Africa Needs $250 Billion to Transition Away From Coal

Coal Train

May 26, 2022 (Bloomberg) South Africa, the world’s 13th-biggest source of greenhouse gases, will need to spend $250 billion over the next three decades closing down its coal-fired power plants and replacing them with green energy, according to a study. In addition to closing down the country’s coal-fired plants and building wind and solar power plants, … Read more

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STARTS TODAY-YOU CAN STILL REGISTER: Attend the FREE Energy Innovation Conference By EnergyNow – May 26, 2022 – Register Here

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One day virtual event featuring experts, speakers & panelists from across the energy sector, and presenters sharing the latest innovations. GET TICKETS Tickets are FREE! EnergyNow is hosting its annual Energy Innovation Month and Company Showcase from May 26th – June 25th, 2022. This month-long event will feature all of the latest innovation, technology, and … Read more

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WATCH – ENERGY INNOVATIONS EPISODE #9 – Topic: Financing Clean Energy Projects With Prageet Nibber: CEO & Co-Founder of ReWatt

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“This Little Project Went to Market” Prageet Nibber: CEO & Co-Founder of ReWatt In Episode #9, Host Geoffrey Cann is in discussion with Prageet Nibber of Rewatt on financing clean energy projects. Large scale emitters with limited scope to eliminate their emissions can offset their tax charges on emissions with investments in clean energy. To … Read more

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Equinor, partners to develop $940 mln Norway gas and condensate project

FILE PHOTO: A logo of Equinor, formerly known as Statoil, is seen at the company's headquarters in Fornebu, Norway May 21, 2018. REUTERS/Nerijus Adomaitis

May 25, 2022 Equinor and partners on Wednesday submitted a plan to develop a cluster of gas and condensate discoveries in the Norwegian Sea for 9 billion crowns ($940 million), part of a rush of new petroleum projects expected in Norway this year. Halten East contains reserves of around 100 million barrels of oil equivalent, 60% … Read more

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U.S. natgas soars to 13-yr high as power and LNG plants use more fuel

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U.S. natural gas futures jumped about 4% to a fresh 13-year high on Wednesday as power generators and liquefied natural gas (LNG) export plants consumed more of the fuel. Power companies burned more gas to generate electricity due to a lack of wind in recent weeks. Wind was on track to produce just 10% of … Read more

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Woodside expects LNG prices to remain high for next few years

DAEGU, South Korea, May 25 (Reuters) – Woodside Energy Group , Australia’s top independent natural gas producer, sees liquefied natural gas (LNG) prices staying high for a few years as the market adjusts to supply disruptionsafter sanctions on Russia for its Ukraine invasion. “With the invasion, we are seeing the world try to move away … Read more

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Global Crises Threaten Economic ‘Perfect Storm’: Davos Update

may rebukes hammond's plan for `modest' brexit: davos update

(Bloomberg) The current combination of threats to the global economy represents “a bit of a perfect storm,” Standard Chartered Plc Chairman Jose Vinals said, adding to a series of dire warnings about the outlook from the World Economic Forum in Davos. “We’ve had big crises in the past but coming from so many different dimensions … Read more

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World’s Oil-Growth Engine Is About to Slow Despite $100 Crude

May 25, 2022 (Bloomberg) In a world crying out for more oil, a dusty stretch of West Texas and southeastern New Mexico is one of the only places that can deliver. But even with crude above $100 a barrel, producers in the Permian and other US shale basins are riding the brakes.For most of the past … Read more

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TotalEnergies to Buy Stake in US Renewables Firm Clearway Energy

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May 24, 2022 TotalEnergies SE said it will acquire a stake in a large US renewables developer, another move by the European energy giant to expand its footprint in the American power sector. The French firm agreed to buy a 50% stake in Clearway Energy Group from Global Infrastructure Partners for $1.6 billion in cash, … Read more

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Oil Climbs as Report Shows Tightening US Gasoline Stockpiles

May 25, 2022 (Bloomberg)  Oil rose after a two-day decline as an industry report showed US gasoline stockpiles shrunk further ahead of the summer driving season and Saudi Arabia said there’s nothing more it can do to tame the market. West Texas Intermediate futures traded near $111 a barrel. The American Petroleum Institute reported that … Read more

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Anti-Woke Texas Oil Regulator Fends Off GOP Rival in Runoff

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A Texas oil regulator critical of renewable fuel and “woke” ESG investing won the Republican nomination for a seat on the powerful panel that oversees crude output in the nation’s largest energy producer. Texas Railroad Commission Chairman Wayne Christian will now face Democrat Luke Warford, along with Green and Libertarian contenders, in the November general election. … Read more

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Democrats Aren’t ‘Musk Fans’ But They Sure Do Like His Cars

Tesla Motors Inc Chief Executive Elon Musk pauses during a news conference in Tokyo September 8, 2014. REUTERS/Toru Hanai

(Bloomberg) Alexandria Ocasio-Cortez wants to sell her Tesla. Ted Cruz is considering buying one.Driving an electric car manufactured by Elon Musk’s company is an increasingly loaded decision for lawmakers. Stepping out of one in the Capitol Hill parking lot can be a signal of support for renewable energy — but with Musk’s dive into partisanship, it … Read more

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Blockchain Energy Platform Permianchain Tokenizes 10 Billion Cubic Feet Of Stranded Natural Gas For Bitcoin Mining

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Toronto, Canada [May 23, 2022] – News release content. PermianChain, a technology platform that brings together the crypto-mining and energy sectors, has registered more than 10.3 billion standard cubic feet (bscf) of stranded natural gas in Australia on its digital energy platform for affordable bitcoin mining. The combined resources are expected to produce 0.5 million … Read more

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Less Than 2 Weeks to Register for North America’s Only Integrated Energy Event – Global Energy Show 2022

GES_Global Energy Show_Feature_Logo_2021

CONFERENCE ALMOST SOLD OUT! Join thousands of participants at the Global Energy Show. Located in the epicentre of Canada’s energy sector, Calgary, Alberta, this year’s show is back and stronger than ever. With award-winning  business and technical conferences, busy indoor exhibition halls and outdoor exhibit lots, you will meet more than 30,000 people and exhibitors … Read more

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Natural Gas Market Is Hurtling Toward Historic Winter Shortages

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(Bloomberg)The liquefied natural gas market is hurtling toward a potentially historic shortage this winter as the world rushes to secure the super-chilled fuel.Europe’s plan to cut imports of piped Russian gas by two-thirds by the end of the year and replace it with LNG from the US and Africa is sharply intensifying competition for the power-plant and … Read more

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Texas Republicans Roil Muni Market Again With Energy Law Aimed at Firms That “Boycott” Energy Industry

(Bloomberg) Political contagion in Texas’ $50-billion-a-year debt market is moving from guns to oil.Big Wall Street banks were already shut out of Texas’ municipal bond market, where the state and its cities raise money, for policies deemed unfriendly to the gun industry. Now an even larger group could see their public finance businesses hurt by legislation … Read more

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Cargoes of Russia’s flagship crude oil at sea climb to record high

Some 62 million barrels of Russia’s flagship Urals crude oil, a record amount, are sitting in vessels at sea, data from energy analytics firm Vortexa showed, as traders struggled to find buyers for the crude. The United States and other countries have banned imports of Russian crude and oil products over its invasion of Ukraine, … Read more

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Saudi Arabia Says It’s Done All It Can for the Oil Market

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May 24, 20 (Bloomberg) —Saudi Arabia’s foreign minister said there’s nothing more the kingdom can do to tame oil markets, implying that the world’s biggest crude exporter has no plan to accelerate its gradual production increases. “As far as we are aware there is no shortfall of oil,” Prince Faisal bin Farhan said, speaking on … Read more

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U.S. natgas futures ease on output increase, lower demand forecast

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May 24, 2022 U.S. natural gas futures eased about 1% on Tuesday from a near 13-year high in the prior session on a slow increase in monthly output and forecasts for less demand this week than previously expected. That small price decline came despite forecasts for a little more demand next week than previously expected … Read more

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Biden weighs reducing tariffs on China, asking OPEC to pump more oil

U.S. President Joe Biden said he was weighing cutting tariffs on Chinese goods while increasing calls on OPEC to raise oil production as he grappled with a politically damaging wave of inflation. “I am considering it. We did not impose any of those tariffs. They were imposed by the last administration and they’re under consideration,” … Read more

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UK Energy Price Cap Likely to Jump 42% in October, Regulator Warns

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(Bloomberg) The UK’s energy price cap is likely to soar to a record £2,800 in October, just as heating demand starts to pick up at the beginning of winter. The sharp jump will add even more pressure on Sunak to help consumers struggling with the worst squeeze on living standards since the 1950s. Even with … Read more

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Column: LNG momentum swinging back to Asia as Europe demand eases

LAUNCESTON, Australia, May 24 (Reuters) – The merry-go-round of liquefied natural gas (LNG) between Europe and Asia appears to be tilting back toward Asia as buyers in the top-consuming region start to chase cargoes ahead of the summer demand peak. The dynamics of the LNG market for the first four months of the year was … Read more

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Oil Steady as Traders Shrug Off China Efforts to Protect Economy

(Bloomberg) –Oil was little changed as Chinese efforts to cushion the impact of anti-virus lockdowns failed to reassure investors over the outlook for Asia’s top economy. West Texas Intermediate traded near $110 a barrel, having faltered initially even as China rolled out a broad package of measures to support businesses and aid demand, including policies to help … Read more

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Energy Crisis Makes Green Transition an ‘Unprecedented Challenge’

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 May 24, 2022 (Bloomberg) The world is rethinking its energy transition after a shortage of traditional fuels has left billions either in the dark or paying skyrocketing prices for power. Trying to rapidly deploy clean energy without investing enough in conventional sources has led to a series of lurches in the transition, author Daniel Yergin said at … Read more

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Shell Calls Police as AGM Disrupted by Environmental Protesters

May 24, 2022 (Bloomberg) Shell Plc called the police to its annual general meeting in London after environmental protesters disrupted the gathering with chants of “Shell must fall.” Chairman Andrew MacKenzie asked protesters to take their seats in order to discuss environmental concerns later on in the meeting. But police were called to start removing protesters … Read more

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FLUKE Under Pressure Promo: Buy a Fluke 754 Calibrator and Receive a Free 750 Pressure Module with Kingsway Instruments – Canada’s Most Trusted Fluke Store

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Kingsway Instruments is excited to share Fluke’s Under Pressure promotion valid to May 31, 2022. Buy a participating Fluke Tool, such as the Fluke 754 Process Calibrator, and receive a free Fluke 750P Pressure Module with your purchase! With discounted pricing in place you can save over $5,000.00 on the calibrator and pressure module with … Read more

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Column: Hedge funds more bullish on crude as sanctions loom

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REUTERS/Angus Mordant LONDON, May 23 (Reuters) – Investors grew significantly more bullish on petroleum prices last week in response to an increasing likelihood that EU sanctions on Russia’s exports that will intensify global oil shortages. Hedge funds and other money managers purchased the equivalent of 56 million barrels in the six most important petroleum-related futures … Read more

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U.S. motorists overlook high gas prices, plan to hit road for Memorial Day

gas prices us may 24 2022

NEW YORK, May 24 (Reuters) – U.S. Memorial Day weekend travel is expected to be the busiest in two years as more American drivers hit the road and shake off coronavirus lock-ins despite high fuel prices. The kickoff to the summer U.S. driving season may indicate just how much consumers are willing to tolerate fuel … Read more

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UK not ruling out energy windfall tax if investment not forthcoming, minister says

North Sea Pipeline System

LONDON, May 23 (Reuters) – The British government is not ruling out a windfall tax on oil and gas firms if the companies fail to invest their profits into boosting capacity soon, Chief Secretary to the Treasury Simon Clarke said on Monday. The Times reported the government was drawing up plans for a temporary levy … Read more

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IEA warns against energy crisis deepening fossil fuel reliance

iea boss cec jan 19 2022 1200x810

DAVOS, Switzerland, May 23 (Reuters) – The energy security crisis since Russia’s invasion of Ukraine must not lead to a deeper dependence on fossil fuels, International Energy (IEA) chief Fatih Birol said on Monday. The right investments, especially in renewable energy and nuclear power, mean the world need not choose between energy shortages and accelerated … Read more

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Oil firms on tight supply as U.S. driving season looms

LONDON, May 23 (Reuters) “Oil prices are supported as gasoline markets remain tight amid solid demand heading into the peak U.S. driving season,” said SPI Asset Management Managing Partner Stephen Innes. “Refineries are typically in ramp-up mode to feed U.S. drivers’ unquenching thirst at the pump.” The U.S. peak driving season traditionally begins on Memorial … Read more

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Saudi Arabia Continues to Support Russia’s Place in OPEC+

OPEC+ With Russia

Saudi Arabia signaled it will continue to support Russia’s role in the OPEC+ group of oil producers, undermining US-led efforts to isolate Moscow over its invasion of Ukraine, the Financial Times reported. Saudi Arabia was hoping “to work out an agreement with OPEC+ …. which includes Russia,” Energy Minister Prince Abdulaziz bin Salman told the FT. The … Read more

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Hot How is Lithium? Very! – One Mine Auction Draws 3,448 Bids Amid Scramble For Lithium

(Bloomberg) An auction for a controlling stake in a Chinese lithium mine has garnered 3,448 bids, underscoring the scramble to secure the battery metal that’s key to the clean-energy transition. The 54.3% stake in Yajiang Snowway Mining Development, which owns the mine in Sichuan, a southwestern province in China, was sold for about 2 billion … Read more

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Oil Gains on Tight Fuel Supplies While Recession Fears Grow

May 23, 2022 (Bloomberg) Oil extended four weeks of gains amid tight fuel supplies and a weaker dollar, though elevated prices are fanning concerns that the world economy may be heading for recession. West Texas Intermediate futures topped $111 a barrel while gasoline and diesel prices have rallied to records ahead of the start of the … Read more

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Installation & Commissioning; Seeing Your Project Through, From Start To Finish

flaretech feature logo 400x270 1

At FlareTech Inc., the customer comes first. Our team is devoted to providing quality with integrity, accountability, and excellence. FlareTech’s Quality Management Program measures customer’s satisfaction with weekly reporting and documentation, providing the information necessary to make continual improvement through training and written process. Our exceptional track record stems from our commitment to testing, trial … Read more

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Superheat Receives 2022 CCS Safety Achievement, Safety Leader, Safety Innovation, and Zero Injury Awards.

superheat featured logo 400x270

Superheat speaks frequently about safety and the systemic impact their innovations have on their safety program. It is a core pillar of their business and something they practice every day – “safety is no accident”. It is their priority to remain the safest on-site heat treatment provider in the industry and to do this, they … Read more

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