Country seeks to maintain position as a key supplier to Europe As many as 50 wells are expected to be drilled: directorate Norwegian oil and gas companies will drill more exploration wells this year as the country seeks to maintain its position as a key supplier to Europe. Between 40 and 50 wells are expected to be …
Norway’s Oil and Gas Companies to Step Up Exploration This Year Read More »
Bloomberg Hundreds of billions of dollars pumped into new gas plants in recent years will likely delay the shift away from fossil fuels. A huge wave of liquefied natural gas is about to flood a world that’s supposed to be transitioning away from fossil fuels. More than $235 billion has been plowed into the next slate of projects for the …
LOOK OUT! Here Comes LNG as Big Spending Cements LNG in Energy Mix for Decades to Come Read More »
Production is breaking records, but employment and real pay are down. By Justin Fox Justin Fox is a Bloomberg Opinion columnist covering business, economics and other topics involving charts. A former editorial director of the Harvard Business Review, he is author of “The Myth of the Rational Market.” Even amid record production, oil and gas …
U.S. Oil and Gas Boom Doesn’t Feel Like One to Workers Read More »
(Reuters) – Nearly every major region is boosting investments in the infrastructure needed to increase the use of natural gas in power generation, despite global efforts to transition energy systems away from fossil fuels. Globally, more than $720 billion is to be spent on gas pipelines under construction or planned, and an additional $190 billion …
World to Get More Gassy Despite Energy Transition Momentum Read More »
(Reuters) – Global renewable energy capacity is expected to grow by two and a half times by 2030 but governments need to go further to achieve a goal of tripling it by then agreed at United Nations’ climate talks, the International Energy Agency (IEA) said. In its annual renewable energy outlook report, the IEA said …
Renewable Energy Growth Must Accelerate to Reach 2030 Goal – IEA Read More »
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 …
