Summary Brent and WTI up about $1 Armed individuals board tanker off Oman Signs of weakening oil demand cap gains LONDON, Jan 11 (Reuters) – Oil prices rose on Thursday after an oil tanker was boarded by an armed group in Oman, raising the prospect of escalating conflict in the Middle East. Brent crude futures …
By Rod Nickel (Reuters) – Canadian pipeline company Enbridge (ENB.TO) is keen on further offshore wind investments in France, but will avoid the United States, where cost and supply chain problems have contributed to offshore projects collapsing, a senior executive said. Rising costs have led to canceled projects in the U.S. and Britain while putting others at risk. …
Enbridge Eyes France for Offshore Wind Investments and Will Avoid U.S. Read More »
Barclays lowered its Brent crude prices forecast for this year by $8 to $85 per barrel due to higher supply, but noted that oil looks undervalued. Barclays in a note on Thursday said the cut in forecasts is primarily due to “a higher starting point for inventories and a potentially longer path to OPEC spare …
Barclays Cuts 2024 Brent Price Forecasts on Higher Supply Read More »
OKLAHOMA CITY and SPRING, Texas, Jan. 11, 2024 /PRNewswire/ — Chesapeake Energy Corporation (NASDAQ: CHK) and Southwestern Energy Company (NYSE: SWN) today announced that they have entered into an agreement to merge in an all-stock transaction valued at $7.4 billion, or $6.69 per share, based on Chesapeake’s closing price on January 10, 2024. Under the …
(Reuters) – Chesapeake Energy (CHK.O) said on Thursday it would buy smaller rival Southwestern Energy (SWN.N) in an all-stock transaction valued at $7.4 billion, a deal that would enable the second-largest U.S. natural gas producer to take the top spot. The move extends a recent spate of multi-billion deals in the U.S. energy sector including Exxon Mobil’s (XOM.N) $60-billion Pioneer Natural …
The head of the largest U.S. oil and gas lobby group on Wednesday said that if regulators slow down or stop approving liquefied natural gas exports, they will put allies in Europe and Asia at risk. American Petroleum Institute President Mike Sommers issued the warning in response to media reports this week that the administration …
Oil, Gas Lobby Group Warns Against U.S. Slowing LNG Approvals Read More »
U.S. crude oil stockpiles rose unexpectedly last week while fuel inventories grew by more than expected, with gasoline building to its highest level in nearly two years, the Energy Information Administration (EIA) said on Wednesday. Crude inventories rose by 1.3 million barrels in the week ended Jan. 5 to 432.4 million barrels, the EIA said, …
U.S. Oil Stockpiles Rise More Than Forecast, Gasoline Builds to Feb 2022 High – EIA Read More »
U.S. oil and gas production continued to climb in October, but there were indications of both starting to flatten and turn down in response to lower prices since the middle of 2022. Oil production from the Lower 48 states excluding Alaska and federal waters in the Gulf of Mexico rose to a record 10.9 million …
COMMENTARY: U.S. Oil and Gas Production Growth Starts to Decelerate: Kemp Read More »
Declaration comes after US oil production hit a record in 2023 Head of industry trade group Mike Sommers spoke in interview By Jennifer A Dlouhy – Bloomberg US oil and gas production is booming, but policies being imposed now could jeopardize the country’s energy might, the industry’s top trade group is warning Washington. That sobering outlook …
Biden’s Oil Policies Threaten the Next Energy Crisis, Trade Group Warns Read More »
With supply rising rapidly and use in power generation threatened, overseas demand for LNG is the only bright spot around. By Liam Denning Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column. It is …
COMMENTARY: War, Wind and Solar Spell Trouble for Gas Bulls Read More »
