Conventional Energy

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Billionaire Texas Oilman Inks Deal With Venezuela’s State-Run Fuel Giant

Conventional Energy, Latest, Oil, US News / By

MIAMI (AP) — A company started by a Texas billionaire oilman announced a deal Wednesday with Venezuela’s state-owned oil company to rehabilitate five aging oil fields, days after the Biden administration put a brake on sanctions relief over concerns about the fairness of the country’s upcoming presidential election. LNG Energy Group is a publicly traded company …

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New Technology Helps U.S. Shale Oil Industry Start to Rebuild Well Productivity

Conventional Energy, Exploration & Production, Latest, Oil, US News / By

HOUSTON, April 24 (Reuters) – Technology advances are making it possible for U.S. shale oil and gas companies to reverse years of productivity declines, but the related requirement to frontload costs by drilling many more wells is deterring some companies from doing so. While overall output is at record levels, the amount of oil recovered …

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First Tanker in 12 Days sets sail from Freeport LNG in Texas

Conventional Energy, Latest, LNG, US News / By

The first tanker in 12 days set sail from Freeport LNG’s Texas export terminal on Tuesday, signaling the resumption of gas processing after an outage this month. Freeport LNG, one of the largest U.S. liquefied natural gas export facilities, has suffered several outages this year with all processing units recently out of service, pressuring U.S. …

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Goldman Expects Geopolitical Risk Premium to Moderate, Maintains $90/bbl Brent Ceiling

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

Goldman Sachs on Tuesday said it expects further moderation in the still-elevated geopolitical risk premium of $5-10 per barrel for crude oil in the coming months, and maintained its range-bound view, with a $90 per barrel ceiling on Brent. Oil prices slipped on Tuesday, a day after touching their lowest levels in more than three …

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AI Boom to Fuel Natural Gas Demand in Coming Years, Report Says

Artificial Inteligence, Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, US News / By

A spike in power usage from artificial intelligence (AI) data centers could significantly boost natural gas demand in the second half of the decade, analysts at investment banker Tudor Pickering Holt & Co said in a report on Tuesday. As much as 8.5 billion cubic feet per day of natural gas could be required additionally …

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Oil Is Shedding Its Mideast Fear Premium Too Fast

Conventional Energy, Latest, Oil, US News / By

Oil Is Shedding Its Mideast Fear Premium Too Fast Benchmark Brent futures are back below $87 a barrel, but the conflict continues posing risks to supply. Bloomberg Oil markets are relinquishing the Middle East risk premium that nearly propelled prices to $100 a barrel. The shift is a sign of maturity — but also complacency. It still seems incredible that, …

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U.S. Natgas Prices up Over 2% on Rising Feedgas to Freeport LNG

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

U.S. natural gas futures rose more than 2% on Monday, as an increase in feedgas to the Freeport LNG export plant and a drop in output outweighed lower demand forecasts for next week and a mild weather outlook. Front-month gas futures for May delivery on the New York Mercantile Exchange rose 3.9 cents, or 2.2%, …

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Oil Falls Back After Robust EU Data as Mideast Tensions Linger

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

Summary Prices down after jumping $1 on strong euro zone PMI data U.S. Senate to take up aid package with Iran oil sanctions Political backdrop fraught with many risks: ANZ April 23 (Reuters) – Oil prices slipped on Tuesday after a short-lived boost from stronger economic data out of Europe as the market weighed the …

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Oil Bulls Lack Conviction About Sustainability of Higher Prices

Conventional Energy, Latest, Oil, US News / By

By John Kemp LONDON, April 22 (Reuters) – Investors boosted their exposure to Brent as the conflict between Iran and Israel escalated but there was selling across the rest of the petroleum complex amid doubts about the sustainability of higher prices. Hedge funds and other money managers sold the equivalent of 23 million barrels in the …

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As Shale Oil Output Slows, One Deepwater Port Struggles for Customers

Conventional Energy, Latest, Oil, Shale / By

HOUSTON, April 22 (Reuters) – As U.S. shale oil boomed last decade, an oil pipeline company pitched an ambitious multi-billion-dollar export port off the Texas coast to ship domestic crude to buyers in Europe and Asia. In April, Enterprise Products Partners’  SPOT became the first project to receive a license from the U.S. maritime regulator for …

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