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Critical Enbridge Line 5 Energy Project Approved in Positive Sign for Ontario, Quebec and Michigan

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

Michigan regulators give green light to Enbridge Line 5 tunnel By Will Gibson Follow CEC on LinkedIn  CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter A key artery in the network supplying Michigan, Ontario and Quebec with essential petroleum products has cleared a critical hurdle to continue operations. In December, Michigan’s Public Service Commission approved a …

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OPEC December Oil Output Rises Before New Cuts, Angola Exit – Survey

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

(Reuters) OPEC oil output rose in December, a Reuters survey found on Friday, as increases in Iraq, Angola and Nigeria offset ongoing cuts by Saudi Arabia and other members of the wider OPEC+ alliance to support the market. The Organization of the Petroleum Exporting Countries pumped 27.88 million barrels per day (bpd) last month, the …

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U.S. Natgas Producers Seek to Balance Production Cuts, Demand Rebound

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

The longer natural gas prices stay lower in 2024 and drilling and related activity pulled back, the market could overshoot to both the downside and upside next year as it seeks to find an equilibrium, EQT’s financial head Jeremy Knop said. U.S. natural gas futures ended 2023 with the biggest percentage decline since 2006 due …

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Biden Administration Slowly Puts Oil Back into the SPR Emergency Stash – Here are Some SPR Facts

Conventional Energy, Latest, Oil, US News / By

The administration of President Joe Biden is slowly putting oil back into the Strategic Petroleum Reserve, after selling a record amount from the emergency stockpile in 2022. Here are some facts about the SPR and U.S. efforts to buy oil back to fill it. WHAT IS THE SPR? It is the world’s largest emergency oil …

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U.S. Natgas Prices Rise 4% to One-Month High Ahead of Storage Report

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

U.S. natural gas futures climbed about 4% to a one-month high on Thursday on a drop in daily output and forecasts for colder weather and higher heating demand over the next two weeks than previously expected. That price increase came ahead of a federal report expected to show last week’s storage withdrawal was smaller than …

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Oil Extends Gains on Middle East Supply Worries

Conventional Energy, Latest, Oil, Pinned Primary / By

Summary Shutdown of Libya’s Sharara oilfield tightens supply U.S. crude inventories fall more than expected -API Coming up: EIA supply report, 1600 GMT (Reuters) – Oil rose by about 1% on Thursday, extending gains on concerns over Middle Eastern supply after disruptions at an oilfield in Libya and heightened tensions relating to the Israel-Hamas war. …

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Shell backs BP in fight Over Venture Global LNG Exports

Conventional Energy, Latest, LNG, US News / By

Curtis Williams Jan 3 (Reuters) – Shell PLC (SHEL.L) has joined BP PLC (BP.L) in its battle against Venture Global LNG, accusing the liquefied natural gas (LNG) producer of denying it and other customers access to supplies while exporting more than $18 billion worth of the superchilled gas, according to a filing with U.S. regulators. Venture Global’s Calcasieu Pass …

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U.S. Seeks 3 Mln barrels of Crude for Strategic Reserve

Conventional Energy, Latest, Oil, US News / By

The U.S. is seeking to buy up to 3 million barrels of U.S.-produced sour crude oil for delivery in April to help replenish the Strategic Petroleum Reserve (SPR), the Department of Energy said in a statement on Wednesday. President Joe Biden’s administration is slowly purchasing oil for the SPR after it sold a record 180 …

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U.S. Natgas Prices Gain 2% to One-Week High on Colder January Forecasts

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

U.S. natural gas futures gained about 2% to a one-week high on Wednesday on a decline in daily output and forecasts for colder weather in mid January than previously expected. That price increase came despite forecasts for milder weather and lower heating demand this week and next than previously expected, and a small decline in …

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