US Drillers Cut Oil, Gas Rigs to Lowest Since December 2021, Baker Hughes Says
The oil and gas rig count fell by four to 580 in the week to Jan. 17.
Trinity Gas Storage Adds Texas Greenfield Gas Storage Complex
Trinity Gas Storage has opened a 24-Bcf gas storage facility in Anderson County, Texas, to support the state’s power grid.
US NatGas Prices Drop 5% From 2-Year High on Milder Late Jan Weather Forecasts
(Reuters) – U.S. natural gas futures dropped about 5% on Friday from a two-year high in the prior session on forecasts for milder weather in late January and early February that should cut demand for gas for heating. This weekend, however, extreme cold weather over the Martin Luther King Jr. and Inauguration Day holidays was …
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IMF Lowers 2025 Saudi Arabia Growth Forecast on Extended Oil Production Cuts
(Reuters) – The International Monetary Fund has lowered its 2025 GDP growth projection for Saudi Arabia to 3.3%, mainly due to extended oil production cuts, it said on Friday in the latest update to its global outlook. It also trimmed its 2024 growth estimate for the Gulf state to 1.4%. In its October Regional Economic …
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Higher US LNG Exports Under Trump Will Benefit Japan, Says Utilities Chief
(Reuters) – A potential increase in U.S. fossil fuels production and liquefied natural gas exports under Donald Trump’s incoming presidency could result in lower fuel prices, benefiting Japan, the head of the country’s utilities federation said on Friday. Trump has made clear he intends to swiftly lift a moratorium on new LNG export permits imposed …
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Kremlin Says US Stance on Russian Oil Sanctions Unlikely to Change
(Reuters) – The Kremlin said on Friday it does not expect the United States to soften its position on sanctions against Russian oil once President-elect Donald Trump takes office, despite his administration’s readiness for dialogue on the Ukraine war. Kremlin spokesman Dmitry Peskov was commenting on remarks by Trump’s choice for Treasury Secretary, Scott Bessent, …
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U.S. Hydrogen Industry May Turn to Gas, Carbon Capture Under Trump
Green investments stalled due to policy uncertainty, says BNEF 377,000 tons of blue hydrogen capacity may be online by 2025 The US hydrogen economy will likely rely on natural gas and carbon capture technologies rather than green energy in Donald Trump’s second term, according to BloombergNEF. Billions of dollars of investment have stalled in 2024 waiting for the Biden …
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Here Are the LNG Projects Set to Advance If Trump Lifts Freeze
Reversing Biden’s licensing pause clears DOE to give approvals Several major natural gas export projects could move ahead President-elect Donald Trump has vowed to lift the Biden administration’s moratorium on new permits to export liquefied natural gas on his first day in office next week. The promised reversal is key for a number of US projects hanging …
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SLB Boosts Dividend and Buybacks After Q4 Beat Expectations
Summary Q4 adjusted profit 92 cents per share vs forecast 90 cents Q4 revenue $9.28 billion vs forecast $9.18 billion Shares up more than 2% in premarket trade (Reuters) – SLB (SLB.N), opens new tab raised its quarterly dividend and accelerated share repurchases on Friday after the oilfield services provider posted better than expected fourth-quarter …
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Oil Set for Fourth Week of Gains as Investors Assess US Sanctions Impact
Summary • Brent up 2.4% so far this week, WTI adds 3.5% • Concerns about more supply disruptions as Trump returns to power • Potential halt to Houthi attacks on shipping in focus after Gaza ceasefire deal (Reuters) – Oil prices rose on Friday, on course for a fourth consecutive week of gains, as the …
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