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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 »
U.S. natural gas futures slid about 3% on Monday on expectations a storm forecast to hit Louisiana later this week will cut demand by causing power outages and reducing the amount of gas flowing to liquefied natural gas (LNG) export plants. That price decline came despite forecast for more demand next week than previously expected …
US Natgas Prices Fall 3% as Hurricane Threatens LNG and Power Demand Read More »
U.S. Gulf of Mexico oil and gas producers were evacuating staff and curbing drilling to prepare for Tropical Storm Francine on Monday as it churned through the energy region on a path to bring high winds and drenching rains to the U.S. mid-South. Francine is likely to bring life-threatening storm surge to the upper Texas …
U.S. Oil Firms Evacuate Staff, Cut Drilling Ahead of Storm Francine Read More »
(Reuters) – China’s shift towards lower-carbon fuels and a sluggish economy are dampening oil demand growth in the world’s largest crude importer, speakers at the APPEC conference said on Monday. China’s annual demand growth has slowed from around 500,000-600,000 barrels per day (bpd) in the five years before the COVID-19 pandemic to 200,000 bpd now, …
Transition to Cleaner Fuels Seen Dragging on China’s Oil Demand Growth Read More »
(Reuters) – Exxon Mobil has pulled out of the race to buy half of Galp Energia’s stake in a large oil discovery in Namibia that has attracted interest from top energy companies, sources with knowledge of the matter said. More than 12 oil companies including Exxon, Shell and Brazil’s national oil company Petrobras had expressed interest in Galp’s 40% stake …
Exxon Withdraws From Race to Buy Stake in Namibia Oil Block From Galp Read More »
Swing state with most Electoral College votes draws resources Tuesday debate in Philadelphia underscores state’s importance Pennsylvania is emerging as the top battleground in the White House race with Kamala Harris and Donald Trump increasingly focusing their attention and resources on the Keystone state. The most populous of the swing states, Pennsylvania — with its 19 Electoral College votes …
