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Exxon Mobil on Friday disclosed a new oil and gas discovery in the prolific Stabroek block offshore Guyana, the company’s first announced discovery in the South American country this year. The Bluefin discovery joins more than 30 already since 2015 in the Stabroek block, an 6.6 million acre (26,800 square kilometers) area that has been …
Exxon-Led Group Strikes New Oil and Gas Discovery Off Guyana Read More »
U.S. natural gas futures fell more than 3% on Friday and were poised for a second straight weekly fall, pressured by forecasts for mild weather leading to lower gas demand for heating. Front-month gas futures for April delivery on the New York Mercantile Exchange fell 5.4 cents, or 3.1%, to $1.69 per million British thermal …
U.S. Natgas Prices Head for Weekly Fall on Mild Weather Outlook Read More »
At least two exporters have pushed back investment decisions Asian buyers are becoming reluctant to sign on to US plants The Biden administration’s pause on new licenses for liquefied natural gas exporters is already stalling progress for projects that were aiming to come online later this decade. Several LNG buyers have delayed signing new long-term …
Biden’s LNG Freeze Delaying Projects and Risking U.S. Market Share Read More »
The Texas power grid is poised to lose a big natural gas-fired power plant, potentially straining a system that’s already grappling with an exodus of fossil fuel generation. CPS Energy plans to “indefinitely suspend operations” of three units of the V.H. Braunig facility totaling 859-megawatts by March 31, 2025, according to a notice posted by the Electric …
Strained Texas Power Grid Is Poised to Lose a Big Gas Plant Read More »
Companies use AI to run drill rigs and predict broken pumps Technology could slash costs and squeeze more oil from wells From a dark Houston control room, Rafael Guedes watched on a monitor as a robot took charge of a drilling rig in a North Dakota oil field, locking out the human operator. Glowing red …
AI Promises Faster Oil Drilling and Even More U.S. Crude Supply Read More »
(Reuters) – Oil prices edged lower on Friday but were on track to gain over 3% for the week, boosted by the International Energy Agency raising its 2024 oil demand forecasts and an unexpected decline in U.S. stockpiles. Brent crude oil futures were down 45 cents or 0.6% to $84.83 a barrel at 1155 GMT, …
Oil Prices Edge Lower but Set to End Week Over 3% Higher Read More »
US seeks oil for emergency reserve as maintenance winds down (Reuters) – The U.S. is seeking to buy 3 million barrels of oil for the Strategic Petroleum Reserve (SPR), as one storage site winds down maintenance that had tempered the pace of replenishing the stockpile, the U.S. Energy Department said on Thursday. The oil, if …
U.S. Seeks Oil for Emergency Reserve as Maintenance Winds Down Read More »
(Reuters) – Liquefied natural gas (LNG) exporter Venture Global LNG on Thursday delivered to U.S. regulators a proposed protective order seeking to keep documents on the construction of a Louisiana export facility confidential. The request will test the Federal Energy Regulatory Commission’s (FERC) willingness to back a call by Venture Global LNG’s customers to require …
Venture Global LNG Asks U.S. Energy Regulator to Keep Documents Confidential Read More »
(Reuters) – Near-term global oil and liquids production growth will be driven primarily by the U.S., Guyana, Canada, and Brazil, offsetting voluntary production cuts by OPEC+, the U.S. Energy Information Agency (EIA) forecast on Thursday. The boost to supply comes as the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, this month …
Non-OPEC+ to Lead 2024 Oil Production Growth, Offsetting Output Cuts – EIA Read More »
U.S. natural gas futures extended gains on Thursday, having hit their lowest level in over two weeks earlier in the session, after a weekly report showed a bigger-than-expected storage withdrawal last week. Front-month gas futures for April delivery on the New York Mercantile Exchange rose 2.4 cents, or 1.5%, to $1.682 per million British thermal …
U.S. Natgas Prices Climb on Bigger-Than-Expected Storage Withdrawal Read More »
