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By John Kemp LONDON, July 30 (Reuters) – U.S. electricity generators consumed a record amount of gas in the first four months of the year as prices slumped to the lowest level in real terms for more than half a century. Ultra-low prices encouraged more power production from some of the least-efficient single-cycle gas and …
By Scott Disavino July 30 (Reuters) – U.S. natural gas futures jumped about 4% to a one-week high on Tuesday on forecasts for record-breaking heat later this week that could boost the amount of gas power generators burn to an all-time high. That price increase came despite a bearish rise in output and forecasts for …
US Natgas Prices Jump 4% on Forecast for Record Heat Read More »
By Olesya Astakhova, Ahmad Ghaddar and Alex Lawler Top OPEC+ ministers to meet online on Aug. 1 Brent crude prices have lost about 9% in July OPEC+ plans to raise output from October MOSCOW/LONDON, July 30 (Reuters) – An OPEC+ panel is unlikely this week to make any changes to its current deal to cut …
OPEC+ Likely to Stick to Output Policy at Aug 1 JMMC Meeting Read More »
By John Kemp (Reuters) – Portfolio investors have soured on the outlook for petroleum prices as an anticipated large depletion of inventories during the third quarter has failed to materialise. Hedge funds and other money managers sold the equivalent of 103 million barrels in the six major futures and options contracts over the seven days ending …
COMMENTARY: Oil Bulls Retreat as Inventories Stay Plentiful Read More »
Freeport LNG was on track to return to full production on Sunday, pulling over 2 billion cubic feet (bcf) of natural gas, LSEG data showed. Freeport is the United States’ second-largest LNG exporter and one of the most-watched U.S. LNG export plants in the world because it has a history of swaying global gas prices …
Helmerich & Payne’s planned takeover may be a sign of things to come. US shale drilling activity appears to have peaked. The number of operating onshore oil rigs is the lowest since 2021, a result of industry consolidation and tighter spending as companies return more profits to shareholders. That presents a challenge for the country’s oil-field contractors. …
Middle East Oil Gives U.S. Drillers an Opportunity for Growth Read More »
Russian President Vladimir Putin on Monday congratulated Nicolas Maduro on winning the disputed Venezuelan election, and the Kremlin said it was deepening cooperation in all areas – including sensitive ones – with Caracas. Maduro and his opposition rival Edmundo Gonzalez have both claimed victory in the presidential election as Washington and some other foreign governments …
Putin Hails Maduro’s Win, Kremlin Says it is Deepening Venezuelan Ties Read More »
MIDLAND, Texas–(BUSINESS WIRE)–Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced that it has entered into a definitive agreement with Occidental (NYSE: OXY) to purchase ~29,500 net acres, ~9,900 net royalty acres and ~15,000 Boe/d predominantly located directly offset the Company’s existing position in Reeves County, Texas for $817.5 million, subject to …
Permian Resources Announces Strategic Bolt-On Acquisition of Core Delaware Basin Assets Read More »
U.S. natural gas futures eased about 1% on Monday to a fresh 12-week low as producers keep pulling more gas out of the ground. That small price decline came despite forecasts of record-breaking heat later this week, that could boost the amount of gas power generators burn to an all-time high. At the same time, …
U.S. Natgas Prices Ease to Fresh 12-Week Low on Rising Output Read More »
U.S. President Joe Biden’s administration on Monday accused Venezuela of electoral manipulation and repression and said Caracas’ announcement that President Nicolas Maduro had won a third term in office had been stripped of “any credibility.” Biden administration officials, briefing reporters about the vote on condition of anonymity, did not announce any new punitive measures but …
U.S. Accuses Venezuela of Electoral Manipulation, Repression Read More »
