July 2023

U.S. natural gas futures moved higher on Wednesday as forecasts for hotter-than-normal weather drove up the amount of gas expected to be burned by power plants, particularly in Texas’ natural gas-reliant power grid. Front-month gas futures for August delivery on the New York Mercantile Exchange traded 4.8 cents higher, or 1.8%, to $2.76 per million …

U.S. natgas futures advance as hotter weather to boost power plant demand Read More »

U.S. exports of liquefied natural gas fell 10% in June to 6.82 million tonnes (MT), from 7.58 MT the previous month, as plant maintenance curbed output and European demand slid, according to preliminary data from Refinitiv Eikon. Planned outages at two big suppliers recently hampered U.S. LNG production, which combined with a warmer-than-normal winter led …

U.S. June LNG exports fall 10% on maintenance cuts, weaker demand Read More »

(Reuters) – Utility firm Duke Energy (DUK.N) said on Wednesday it would sell its commercial distributed generation business to private equity firm ArcLight Capital Partners in a $364 million deal. The business includes operating assets of REC Solar, which Duke had acquired in 2015, development pipeline and operations and maintenance portfolio, as well as distributed …

Duke Energy to sell distributed generation portfolio in $364 million deal Read More »

~ Net Sales Proceeds from Transaction Used to Further Pay Down Debt ~ THE WOODLANDS, Texas, July 05, 2023 (GLOBE NEWSWIRE) — Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today announced a $25 million net reduction of borrowings during the second quarter on its senior revolving credit facility with a current borrowing …

Ring Energy Announces $25 Million Debt Reduction in Q2 2023 and Sale of Non-Core Delaware Basin Assets Read More »

U.S. manufacturers reported another widespread decline in business activity during June, which continued to weigh down industrial energy consumption and prices. The Institute for Supply Management’s (ISM) composite manufacturing index slipped to 46.0 (11th percentile for all months since 1980) in June from 46.9 (14th percentile) in May and 53.0 (35th percentile) a year earlier. …

U.S. Manufacturing Slowdown Cools Energy Prices: Kemp Read More »

This time, it’s in retail By GEOFFREY CANN Another cyber attack on an oil and gas company reminds the industry that cyber worries are forever. Last week one of North America’s largest integrated oil and gas companies reported that some of its downstream business activities related to fuel retailing had been struck by a cyber incident. Details were minimal — the loyalty program …

Another Day, Another Cyber Attack on Oil and Gas – Geoffrey Cann Read More »

In a grey, squat building overlooking the Thames River in London, high-level talks began Monday on how to clean up an industry that carries more than 80% of world trade — and spews more carbon dioxide into the Earth’s atmosphere each year than Germany. Shipping’s climate impact rarely gets the same attention as planes or cars. But it’s still a major …

Nations Haggle Over Targets to Cut Shipping’s Huge Emissions Read More »

(Adds Haynesville and Williston basin counts) June 30 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a ninth week in a row for the first time since July 2020, energy services firm Baker Hughes Co said in its closely followed report on Friday. The oil …

U.S. drillers cut oil and gas rigs for ninth week in a row -Baker Hughes Read More »

China is on a natural gas shopping spree, and officials are happy for importers to keep striking deals even after a global energy crisis has eased. The government continues to back efforts by state-owned buyers to sign long-term contracts and even invest in export facilities, in order to bolster energy security through the middle of the century, …

China Is Buying Gas Like There’s Still an Energy Crisis Read More »

July 3 (Reuters) – The Biden administration’s climate agenda is facing an unexpected challenge in drought-prone Corpus Christi, Texas, where a proposed clean hydrogen hub would require the installation of energy-intensive, expensive and potentially environmentally damaging seawater desalination plants. The Gulf Coast port is in the running for up to $1 billion available under President …

Biden’s Green Hydrogen Plan Hits Climate Obstacle: Water Shortage Read More »