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(Reuters) – Oil major Shell on Monday said it plans to shut-in different portions of its Zydeco pipeline system for maintenance for three to four days starting Sept 24. The Zydeco pipeline system, which spans over 350 miles and has a mainline capacity of about 375,000 barrels per day, has four segment and ships crude …
Shell Plans to Shut-in Different Portions of Zydeco Pipeline Read More »
(Reuters) – U.S. natural gas futures fell about 3% to a three-week low on Monday on forecasts for lower demand next week than previously expected. Energy analysts also noted the tremendous oversupply of gas still in storage has kept a lid on gas prices all year. There was still about 12% more gas in storage …
US Natgas Prices Fall 3% to 3-Week Low on Forecasts for Lower Demand Read More »
Exxon Mobil said on Monday it expects crude demand to stay above 100 million barrels per day (bpd) through 2050, similar to today’s levels, a forecast 25% higher than top European rival BP. The stronger demand projected by the largest U.S. oil company in its latest global oil outlook underpins Exxon’s production growth plans, the most …
Exxon Forecasts 2050 Oil Demand to Still Match today’s, 25% above BP estimate Read More »
A general view of the Equinor’s Johan Sverdrup oilfield platforms in the North Sea, Norway December 3, 2019. REUTERS/Ints Kalnins/File Photo STAVANGER, Norway, Aug 26 (Reuters) – Equinor plans to invest 60 billion-70 billion Norwegian crowns ($5.7 billion-$6.7 billion) a year in oil and gas offshore Norway until 2035 as it expects continuing strong demand for …
Equinor to Invest up to $6.7 Bln a Year in Oil and Gas off Norway Until 2035 Read More »
The key to challenging the global influence of OPEC+ is a small swath of the American Southwest where drilling costs are high and most flaring is illegal. Bloomberg News About 100 miles east of UFO-capital Roswell, a dusty corner of New Mexico with more cattle than people is quietly buttressing the US’s world oil dominance. After …
U.S. Oil Dominance Hinges on Quiet Corner of New Mexico Read More »
Norway must make more area available for hydrocarbon exploration and scale up the country’s nascent renewable sector in order to protect domestic suppliers of parts and services, according to the head of the country’s second biggest oil and gas company. “We need as much acreage as is possible and whatever is hindered by environmental assessments, …
Norway Oil Output, Renewable Push Go Hand-in-Hand, Aker BP Says Read More »
He will replace Dawn Farrell, who recently was appointed as Trans Mountain’s board chair, effective Sept. 1 Bloomberg News Trans Mountain Corp., the government-owned company operating Canada’s newest major oil pipeline, named Chief Financial and Strategy Officer Mark Maki as its next chief executive as it prepares for a sale to private owners. Maki will replace …
Trans Mountain Names Maki New CEO Before Government Sale Read More »
(Reuters) – Morgan Stanley has lowered its global oil demand growth forecast for 2024, mainly due to China’s slower economic growth, increased electric vehicle usage there, and a rise in the number of trucks in China powered by liquefied natural gas (LNG). The bank cut its global oil demand growth forecast for this year to …
Morgan Stanley Cuts 2024 Oil Demand Growth Outlook on China Factors Read More »
Summary U.S. Fed Chair Powell says inflation heading down Dollar index softens ahead of Powell’s speech Despite Friday gains, oil down for the week (Reuters) – U.S. light crude oil gained more than 2% a barrel on Friday after comments by U.S. Federal Reserve Chair Jerome Powell indicated the central bank was preparing to cut …
Oil Climbs Over 2% After Fed’s Powell Indicates U.S. Rate Cuts Read More »
(Reuters) – The U.S. has bought nearly 2.5 million barrels of oil to help replenish the Strategic Petroleum Reserve after the largest sale ever from the facility in 2022, the Energy Department said on Friday. About 800,000 barrels per month of the domestically produced sour, or relatively high in sulfur, oil will be delivered to …
US Buys Nearly 2.5 Million Barrels of Oil for Strategic Petroleum Reserve Read More »
