Conventional Energy

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Biden Grants First New LNG Approval Since Freezing Permits

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New Fortress Energy receives five-year license to sell LNG Climate groups blast White House, permit-pause appeal ongoing The Biden administration granted the first liquefied natural gas export license since a federal court overturned a temporary moratorium on issuing permits to ship the fuel. The US Energy Department granted a five-year license Tuesday to Wes Edens’ company New Fortress Energy Inc., …

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Russian Deputy Minister says Western Sanctions Will Not Halt LNG Development

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

Western sanctions against Russia will not halt the development of its LNG sector, Russian Deputy Energy Minister Pavel Sorokin said on Wednesday. “Those sanctions that have been imposed are illegal… We cannot say that they have gone unnoticed,” Sorokin said at the Eastern Economic Forum in the far eastern port of Vladivostok, adding that they …

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Argus Launches Three Price Quotes for Trans Mountain Oil Pipeline Exports

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Oil pricing agency Argus launched on Wednesday three daily price quotes for crude exported from western Canada’s newly expanded Trans Mountain (TMX) pipeline amid rising demand for the oil from Asia.   The agency will assess prices of crude loaded from the TMX pipeline onto Aframax-sized tankers capable of carrying 80,000 metric tons (584,000 barrels) …

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U.S. LNG Export Dominance Tested as Europe’s Demand Wilts

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By Gavin Maguire LITTLETON, Colorado, Sept 4 (Reuters) – The United States has remained the largest exporter of liquefied natural gas (LNG) so far in 2024, but a steep drop in selling prices and a sharp swing in export volumes to key markets is likely testing exporter appetite to stay on top. The United States shipped …

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COMMENTARY: Crude Oil Bears Run Rampant as Bullish News Ignored

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

By Clyde Russell (Reuters) – The response of crude oil markets to a series of developments this week shows how the bearish mindset is dominating the narrative. News that should be positive for oil prices is largely discounted and ignored, while factors that add to negative sentiment are embraced and reflected in price movements. Global …

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OPEC+ Discussing Delay to Planned Oil Output Hike in October

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

(Reuters) – OPEC+ is discussing a delay in a planned output increase next month as oil prices hit their lowest in 9 months, three sources from the producer group told Reuters on Wednesday. Oil prices have been falling together with other asset classes on concerns about a weak global economy and particularly soft data from …

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EOG to Ramp Up Activity in Utica Shale Play in Ohio

Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Oil, Shale, US News / By

Houston-based shale producer EOG Resources expects to ramp up operations in the Utica shale play in Ohio, Chief Operating Officer Jeff Leitzell told attendees at the Barclays CEO Energy-Power Conference in New York on Tuesday. EOG Resources has doubled its activity in the Utica year-on-year, operating on 445,000 acres with an average entry cost of around …

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Oil Prices Slip again on Demand Concerns, Possible End to Libya Row

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

Reuters – Oil prices fell slightly on Wednesday, hovering at their lowest levels since December after plunging more than 4% the previous day on signs of a weak global economy, lacklustre oil demand, and expectations of an end to a dispute halting Libyan exports. The oil price decline came during a broader sell-off in world markets, with …

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AI Likely to Weigh on Oil Prices Over the Next Decade, Goldman Says

Conventional Energy, Latest, Oil, US News / By

(Reuters) – Artificial intelligence could hurt oil prices over the next decade by boosting supply by potentially reducing costs via improved logistics and increasing the amount of profitably recoverable resources, Goldman Sachs said on Tuesday. WHY IT’S IMPORTANT The impact of AI on energy and metals has mostly focused on the demand side given the …

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Voyager Midstream Acquires Some Natgas Assets From Phillips 66

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

(Reuters) – Voyager Midstream Holdings, a portfolio firm of Pearl Energy Investments, said on Tuesday it has acquired some natural gas gathering and processing assets from Phillips 66 to boost its presence in Haynesville shale. Haynesville, located primarily in Louisiana and East Texas, contains large amounts of natural gas. Houston-based Voyager said the assets are …

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