Conventional Energy

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Companies Are Dropping Carbon Offsets, But Still Buying the Worst Ones

Carbon Capture, Conventional Energy, Energy Topics & Technology, Latest, US News / By

Purchases of carbon offsets last year fell for the first time since 2016, according to an analysis of 260,000 publicly available transactions. (Corrects the percentage decrease in demand for offsets in the 2nd paragraph of a story originally published on Nov. 27, 2023, and related figures in the first two charts.) Carbon offsets once looked primed …

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Japan Could Boost LNG Buys for Emergency reserve to Nearly 1 Mln T a Year, METI Official Says

CDN and International News, Conventional Energy, Latest, Natural Gas / By

Japan is considering stepping up purchases of liquefied natural gas (LNG) for emergency needs to at least 12 cargoes a year from three now, an official of its industry ministry said, to guard against unexpected supply shocks. The reserve-boosting plan entails additional purchases by the world’s second biggest buyer of LNG after China, increasing its …

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Russia Pitches BRICS Payment System Aiming to Break US Dominance

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

Report says settlements with tokens could save billions Russia has sought to lower reliance on dollar after sanctions Russia is proposing changes to cross-border payments conducted among BRICS countries aimed at circumventing the global financial system, as the heavily penalized country seeks to sanctions-proof its own economy. The alternatives include developing a network of commercial …

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Canadian Natural Gas Firms Eager for LNG Boom Swamp Market with Excess Supply

CDN and International News, Conventional Energy, Latest, Natural Gas / By

By Nia Williams Summary AECO gas prices hit a two-year low in late September on strong supply, brimming storage inventories Producers curtail up to 1 bcf/d due to low prices LNG Canada export facility due to start operating next year (Reuters) – A huge liquefied natural gas export terminal led by Shell called LNG Canada, may …

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Oil Heads for Weekly Climb on Potential Mideast Supply Disruption

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

(Reuters) – Oil prices softened on Friday but were set for a second weekly gain as investors weighed the impact of hurricane damage on U.S. demand against any broad supply disruption if Israel attacks Iranian oil sites. Brent crude oil futures fell 60 cents, or 0.8%, to $78.80 a barrel by 0957 GMT. U.S. West …

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ExxonMobil-Led Consortium to Continue Seismic Research for Gas off Crete, Says Greece

CDN and International News, Conventional Energy, Latest, Natural Gas / By

By Reuters (Reuters) – An ExxonMobil-led consortium will move to the second phase of seismic research for gas exploration in a block off the Greek island of Crete, Greece said on Thursday. Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA) said that the consortium of ExxonMobil and Hellenic Energy have acquired a total of 7,789 kilometres …

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ConocoPhillips Gets US Licenses in Bid to Recoup Venezuela Debt

Conventional Energy, Latest, Oil, US News / By

Licenses allow ConocoPhillips to advance legal efforts Texas-based oil and gas producer owed $10 billion by Venezuela ConocoPhillips has been granted a string of licenses by the US government that allow the oil and gas producer to better position itself to recover some or all of the roughly $10 billion it is owed by Venezuela after …

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Why the Strait of Hormuz Is a Focus of Worry Again

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

The Strait of Hormuz, a narrow waterway at the mouth of the Persian Gulf, is rarely far from the center of global tensions. A major shipping route that handles almost 30% of the world’s oil trade, it’s closely watched for signs of disruption. The escalating conflict between Iran and Israel has again raised concerns that shipping through the vital waterway …

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US Crude Stocks Rise, Gasoline and Distillate Inventories Fall, EIA Says

Conventional Energy, Energy Storage, Energy Topics & Technology, Latest, Oil, US News / By

(Reuters) – U.S. crude stocks rose as refining activity slipped last week, while gasoline and distillate inventories fell, the Energy Information Administration said on Wednesday. Crude inventories rose by 5.8 million barrels to 422.7 million barrels in the week ended October 4, the EIA said, compared with analysts’ expectations in a Reuters poll for a …

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US Natgas Output to Decline as Demand Hits Record High in 2024, EIA says

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

U.S. natural gas production will decline in 2024 while demand will rise to a record high, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday. EIA projected dry gas production will ease from a record 103.8 billion cubic feet per day (bcfd) in 2023 to 103.5 bcfd in …

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