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Global consumption will grow by 1 million barrels a day EIA expects market in deficit due to OPEC+ output cuts US oil demand growth is forecast to plateau this year, in the latest bearish indicator for the market, according to the Energy Information Administration. The agency sees US consumption holding steady at 20.3 million barrels a …
U.S. Oil Demand to Plateau in 2024, EIA Forecasts Read More »
Natural gas pipeline takeaway capacity in the Permian Basin will increase as the Matterhorn Express pipeline is expected to start operating this month, the U.S. Energy Information Administration (EIA) said on Tuesday. Matterhorn, a joint venture with Whitewater, EnLink Midstream, Devon Energy, and MPLX, will transport natural gas from the Permian Basin to Katy near …
Permian Basin Gas Capacity to Increase with Matterhorn Pipeline Launch, EIA Says Read More »
(Reuters) – Norway’s Equinor has discovered gas and oil in the Haltenbanken Vest Unit prospect in the Norwegian Sea, the Norwegian Offshore Directorate said on Tuesday. The well was drilled in connection with the Lavrans discovery, which is part of the Kristin field, according to the offshore directorate. Preliminary estimates indicated a discovery of between …
Permit ruling was meant to teach regulators a lesson, he says Yanking of Texas permits puts $18.4 billion project at risk Bloomberg News A federal court’s decision to scold a regulatory agency is putting a major Texas liquefied natural gas project — and thousands of associated jobs — at risk, said NextDecade Corp. Chief Executive Officer Matt …
NextDecade LNG Project Paying Price for ‘Wrist Slap,’ CEO Says Read More »
Major US oil and gas companies haven’t been cooperating with a congressional investigation into whether Republican presidential candidate Donald Trump made a “quid pro quo” offer to roll back environmental regulations in exchange for campaign donations, Democratic lawmakers said. Trump sought $1 billion in contributions during an April fund-raising meeting with oil and gas executives at his …
Oil Majors Not Cooperating With Trump Funds Probe, Lawmakers Say Read More »
Texas Capital ranks among banks making biggest inroads Banks are spreading risk through new syndication models A number of US and Canadian regional banks are rapidly expanding their presence in the market for oil, gas and coal dealmaking, in a move that promises to redraw the map for the financing of fossil fuels. Among those …
Texas Capital Ratchets Up Oil Deals as Other Banks Quit Market Read More »
System to become a hurricane Tuesday on path toward Louisiana Chevron halts production at two oil platforms ahead of storm Tropical Storm Francine is set to become a hurricane Tuesday as it churns toward Louisiana, forcing some oil drillers to halt production and evacuate crews in the Gulf of Mexico. Strong winds and a dangerous …
Tropical Storm Francine Disrupts Gulf Coast Oil, Gas Output Read More »
By Gavin Maguire (Reuters) – The northern hemisphere summer has not yet officially finished, but United States natural gas markets are already sizing up supply and demand balances for this winter and the next year, and indicate that sharply higher prices may emerge. Forward markets for Henry Hub futures, the benchmark U.S. natural gas price, indicate …
U.S. Natural Gas Markets Point to Steep Price Rise in 2025 Read More »
(Reuters) – Oil prices gave up the previous day’s gains on Tuesday as weak Chinese demand offset U.S. supply disruptions from Tropical Storm Francine and global oil oversupply risks that continue to weigh on the market. Brent crude futures were down 79 cents, or 1.1%, at $71.05 a barrel by 0948 GMT. U.S. West Texas …
Oil Dips as Weak Chinese Demand Counters Storm Francine Read More »
A major U.S. oil and gas trade group on Monday warned that energy production in the Gulf of Mexico could stop if the Commerce Department does not act quickly to publish a new assessment of how endangered species should be protected in the region. WHY IT’S IMPORTANT A court ruling by a federal judge last …
Gulf of Mexico Oil Production Could Stall After Court Ruling, Industry Warns Read More »
