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Critical Enbridge Line 5 Energy Project Approved in Positive Sign for Ontario, Quebec and Michigan

Conventional Energy, Latest, Natural Gas, Oil, Pipelines, Tri-Pinned, US News / By

Michigan regulators give green light to Enbridge Line 5 tunnel By Will Gibson Follow CEC on LinkedIn  CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter A key artery in the network supplying Michigan, Ontario and Quebec with essential petroleum products has cleared a critical hurdle to continue operations. In December, Michigan’s Public Service Commission approved a …

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OPEC December Oil Output Rises Before New Cuts, Angola Exit – Survey

CDN and International News, Conventional Energy, Latest, Oil, OPEC / By

(Reuters) OPEC oil output rose in December, a Reuters survey found on Friday, as increases in Iraq, Angola and Nigeria offset ongoing cuts by Saudi Arabia and other members of the wider OPEC+ alliance to support the market. The Organization of the Petroleum Exporting Countries pumped 27.88 million barrels per day (bpd) last month, the …

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U.S. Natgas Producers Seek to Balance Production Cuts, Demand Rebound

Conventional Energy, Latest, Natural Gas, US News / By

The longer natural gas prices stay lower in 2024 and drilling and related activity pulled back, the market could overshoot to both the downside and upside next year as it seeks to find an equilibrium, EQT’s financial head Jeremy Knop said. U.S. natural gas futures ended 2023 with the biggest percentage decline since 2006 due …

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Biden Administration Slowly Puts Oil Back into the SPR Emergency Stash – Here are Some SPR Facts

Conventional Energy, Latest, Oil, US News / By

The administration of President Joe Biden is slowly putting oil back into the Strategic Petroleum Reserve, after selling a record amount from the emergency stockpile in 2022. Here are some facts about the SPR and U.S. efforts to buy oil back to fill it. WHAT IS THE SPR? It is the world’s largest emergency oil …

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U.S. Natgas Prices Rise 4% to One-Month High Ahead of Storage Report

Conventional Energy, Latest, Natural Gas, US News / By

U.S. natural gas futures climbed about 4% to a one-month high on Thursday on a drop in daily output and forecasts for colder weather and higher heating demand over the next two weeks than previously expected. That price increase came ahead of a federal report expected to show last week’s storage withdrawal was smaller than …

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COMMENTARY: Climate Alarmists Like the IEA Want Oil and Gas Sector to Embrace Its Own Extinction – It’s Not Realistic

Direct Air Capture, Latest, Net Zero, US News / By

In the long debate over climate change, there have been two broad rivers of thought. The dominant stream of thought held by governments, NGOs and the United Nations is that the “solution” to climate change lies in radical curtailment of greenhouse gas (GHG) emissions at any cost. The current fixation is to bring global GHG …

COMMENTARY: Climate Alarmists Like the IEA Want Oil and Gas Sector to Embrace Its Own Extinction – It’s Not Realistic Read More »

Canadian Dealmaking Seen Rebounding in 2024, Led by Energy, Mining

CDN and International News, Latest, Mergers and Acquisitions / By

Canadian energy, power and mining companies are expected to lead a rebound in dealmaking this year helped by lower interest rates, following a slump in overall mergers and acquisitions in 2023 to the lowest since the outbreak of COVID-19, bankers said. Money markets are betting that the Bank of Canada (BoC), which raised interest rates …

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Oil Extends Gains on Middle East Supply Worries

Conventional Energy, Latest, Oil, Pinned Primary / By

Summary Shutdown of Libya’s Sharara oilfield tightens supply U.S. crude inventories fall more than expected -API Coming up: EIA supply report, 1600 GMT (Reuters) – Oil rose by about 1% on Thursday, extending gains on concerns over Middle Eastern supply after disruptions at an oilfield in Libya and heightened tensions relating to the Israel-Hamas war. …

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APA Corporation to Acquire Callon Petroleum Company in All-Stock Transaction

Latest, Press Releases, Tri-Pinned, US News / By

Complements and enhances APA’s asset base in the Permian Basin; expected to be accretive to key financial metrics; Adds to APA’s high-quality, short-cycle development inventory and increases oil mix; and Strengthens APA’s position as a leading, diversified independent E&P with pro forma production of more than 500,000 barrels of oil equivalent (BOE) per day and …

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