Conventional Energy

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Frigid Temps Cut U.S. Natural Gas Supply as Demand Soars, Texas Faces Possible Shortfall

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

A man stands outside a coffee shop after a blizzard left several inches of snow, in downtown Des Moines, Iowa, U.S., January 13, 2024. REUTERS/Marco Bello/File Photo Acquire Licensing Rights (Reuters) – U.S. natural gas output fell to a preliminary 11-month low on Sunday as frigid weather froze wells across the country, while gas demand for heating …

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Oil Drops More Than 1% Despite Middle East Conflict

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

(Reuters) – Oil prices lost more than 1% on Monday as the Middle East conflict’s limited impact on crude output prompted profit taking after oil benchmarks gained 2% last week. Brent crude futures were down $1.14, or about 1.5%, at $77.15 a barrel by 1250 GMT and U.S. West Texas Intermediate crude lost $1.15, or …

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Natural Gas Export Projects Hang in the Balance as Biden Mulls Climate Test

Conventional Energy, Latest, LNG, US News / By

Environmental groups ramp up efforts to oppose LNG terminals. As the Biden administration weighs a tougher climate test for US natural gas export terminals, several projects and tens of billions of dollars in investments are hanging in the balance. Environmentalists are doubling down on efforts to oppose liquefied natural gas terminals seeking government approval, warning they’ll significantly prolong …

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Biden Cites Concern of Impact of War in Middle East on Oil Prices

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(Reuters) – U.S. President Joe Biden said he was concerned about the impact of war in the Middle East on oil prices, which rose on Friday after the U.S. and Britain launched dozens of air strikes across Yemen on Houthi targets. WHY IT’S IMPORTANT Oil rose 1% on Friday as an increasing number of oil tankers diverted …

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Oil Climbs 1% as Tankers Avoid Red Sea After Strikes on Houthis

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

Oil prices jump as US, UK strike Houthi targets Summary Some tanker companies halt ships heading to Red Sea China buys record levels of crude oil in 2023 U.S. oil rigs fall by two this week – Baker Hughes Benchmarks close lower for the week HOUSTON, Jan 12 (Reuters) – Oil rose 1% on Friday …

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Oil Consumption and Prices Revert to Trend – John Kemp

Conventional Energy, Energy Topics & Technology, Gasoline, Latest, Natural Gas, Oil, US News / By

By John Kemp (Reuters) – Global consumption of petroleum and other liquids hit a record high last year and is forecast to increase further in both 2024 and 2025, but that does not necessarily mean prices must rise to ensure demand is met. Worldwide consumption averaged 101.1 million barrels per day (b/d) in 2023, narrowly beating …

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DONE DEAL! Canadian Trans Mountain Oil Pipeline Change Approved by Canadian Regulator

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, Pipelines / By

(Reuters) – The Canada Energy Regulator (CER) on Friday approved a request for a change in construction for the final stretch of the Trans Mountain oil pipeline expansion project, clearing the path for its completion early this year. The C$30.9-billion ($23.05 billion) expansion will nearly triple the flow of crude on Trans Mountain from Alberta …

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U.S. Proposes Fee on Methane from Big Oil and Gas Producers

Conventional Energy, Energy Topics & Technology, Latest, Methane, Natural Gas, Oil, Tri-Pinned, US News / By

The U.S. on Friday proposed a fee on emissions of methane from big oil and gas producers as required under the 2022 climate law and as a backstop to wider regulations on the greenhouse gas from energy operations. The fee, proposed by the Environmental Protection Agency, applies to large oil and gas facilities that report …

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U.S. Drillers cut Oil and Gas Rigs for Second Week in a Row – Baker Hughes

Conventional Energy, Drilling Rigs, Energy Topics & Technology, Latest, Natural Gas, Oil, Pinned Primary, US News / By

Jan 12 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row, energy services firm Baker Hughes (BKR.O) said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by two to 619 …

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U.S. Natgas Prices Soar 8% to 10-Week High Ahead of Frigid Cold and Record Demand

Conventional Energy, Latest, Natural Gas, Tri-Pinned, US News / By

U.S. natural gas futures soared about 8% to a 10-week high on Friday ahead of the long Martin Luther King Day holiday weekend when extreme cold is expected to boost gas demand to record highs while also cutting gas supplies by freezing wells. In recent years, the combination of soaring demand for gas for heating …

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