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(Reuters) – Oil prices were down on Friday and on track to end a two-week winning streak after the U.S. central bank indicated interest rate cuts could be delayed by at least two more months. Brent crude futures were down 94 cents, or 1.1%, at $83.73 a barrel at 1015 GMT on Friday, while U.S. …
Oil Set to End Two Week Winning Streak After Fed Says in No Rush to Cut U.S. Rates Read More »
Summary Shell’s LNG trading accounted for third of Shell’s Q4 profit Trading was boosted by East-West arbitrage, CEO said (Reuters) – Nearly a third of Shell’s profit in the fourth quarter of 2023 came from the $2.4 billion it made in trading liquefied natural gas (LNG) as it captured strong demand ahead of winter, three sources …
Shell’s LNG Trading Makes $2.4 billion in Final 2023 Quarter, Sources Say Read More »
Canada’s economy has stagnated, with a “mild to moderate” recession expected this year. Alberta can help Canada through this economic growth crisis by reaping the benefits of a strong commodity market. But for this to happen, the federal and provincial governments must eliminate damaging policies that make Alberta a less attractive place to invest. Every year, …
Led by growing demand in China and the need for energy security, LNG is playing an increasingly important role in global gas supply By Deborah Jaremko A worker at Shell’s Hazira LNG import terminal, about 250 kilometers from Mumbai, India. Photo courtesy Shell Global energy giant Shell has released its latest outlook for world liquefied natural …
Nine Major Insights From Shell’s Latest Global LNG Outlook Read More »
Oilfield service companies and drillers have put the brakes on hiring and further job cuts could loom as natural gas producers respond to sliding prices by slashing spending on new wells to reduce excess production. Already some 4,680 oilfield jobs have been lost since December, according to data from trade group Energy Workforce & Technology …
U.S. Oilfield Job Losses Could Swell as Natural Gas Prices Plunge Read More »
U.S. crude oil stockpiles rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Thursday. Crude inventories rose by 3.5 million barrels to 442.9 million barrels in the week ending Feb. 16, the EIA said, compared with analysts’ expectations in a Reuters poll for a 3.9 million-barrel rise. Crude stocks …
U.S. Crude Stockpiles Rise, Gasoline and Distillate Draw Down – EIA Read More »
U.S. natural gas futures fell more than 3% on Thursday as investors awaited a weekly storage report and booked profits following a rally in the previous session spurred by Chesapeake Energy’s decision to cut its planned output for 2024. Front-month gas futures fell 5.4 cents, or 3.1% at $1.719 per million British thermal units at …
U.S. Natgas Rally Cools as Investors Await Storage Report Read More »
Suncor Energy, Canada’s second-largest oil producer, will focus this year on cutting operating costs in its oil sands mining business, CEO Rich Kruger said on Thursday, as the company continues efforts to fix long-running underperformance. Calgary-based Suncor is trying to improve safety and efficiency after a string of fatalities at oil sands sites in recent …
Canada’s Suncor Looks to Cut High Oil Sands Mine Operating Costs Read More »
(Reuters) – Three of Venture Global LNG’s major customers have asked U.S. energy regulators to address the LNG developer’s request for a one-year permit extension to complete a Louisiana export facility, signaling their intention to voice concerns. The LNG developer last week asked for a one-year extension to complete its Calcasieu Pass gas-export plant, or …
Venture Global LNG Customers Challenge Permit Extension Request Read More »
(Reuters) – Oil prices rose for a second day on Thursday, buoyed by a softer dollar and another attack on shipping near Yemen. Brent crude futures rose 35 cents, or 0.4%, to $83.38 a barrel at 1036 GMT. U.S. West Texas Intermediate crude futures climbed 37 cents, or 0.5%, to $78.28 a barrel. The dollar …
