Conventional Energy

Auto Added by WPeMatico

Why Europe Can’t Give Up Russian Gas Despite Sanctions Over Ukraine

Three years ago, Russia was the world’s biggest exporter of natural gas and Europe was its top customer. For the continent’s leaders, access to all that cheap Russian energy outweighed any misgivings over doing business with President Vladimir Putin. Then Russia launched its full-scale invasion of Ukraine, and this overwhelming reliance on a single supplier suddenly …

Why Europe Can’t Give Up Russian Gas Despite Sanctions Over Ukraine Read More »

Mexico’s Pemex Posts Drop in Oil Production as Lopez Obrador Exits

By Ana Isabel Martinez Summary Pemex’s crude output fell by 6% in August compared with last year Gasoline and diesel imports remain high despite increased local production Olmeca refinery’s output far below targets set by CEO Octavio Romero Nationalistic president’s push to strengthen Pemex falters MEXICO CITY, Sept 27 (Reuters) – Crude output by Pemex (PEMX.UL) …

Mexico’s Pemex Posts Drop in Oil Production as Lopez Obrador Exits Read More »

OPEC+ Set to go Ahead with December Oil Output Hike, Sources Say

Summary Riyadh unwilling to continue ceding market share, FT says OPEC+ sources say group focused on compliance not market share Russia says no changes to OPEC+ plans on phasing out oil cuts OPEC+ panel meets on Oct. 2 (Reuters) – The Organization of the Petroleum Exporting Countries and its allies will go ahead with a …

OPEC+ Set to go Ahead with December Oil Output Hike, Sources Say Read More »

U.S. Gulf Coast Oil Prices to Take Center Stage as Exports Dominate

Summary Significance of Cushing waning as output heads to Gulf Coast Record trading volumes on Houston contracts Liquidity along Gulf Coast to boost hedging, arbitrage opportunity Cushing stocks near operational low HOUSTON, Sept 27 (Reuters) – Rising U.S. crude oil exports are boosting the prominence of Gulf Coast price benchmarks and buoying trading volumes on …

U.S. Gulf Coast Oil Prices to Take Center Stage as Exports Dominate Read More »

Natural Gas Producers Press Harris For Answers in Battleground State

By Jarrett Renshaw ERIE, Pennsylvania Sept 26 (Reuters) – Drillers in energy-rich Pennsylvania this week called on Democratic presidential candidate Kamala Harris to detail her position on natural gas, a fuel the energy industry bills as clean but which climate activists say is a global warming menace. President Joe Biden put a freeze on new …

Natural Gas Producers Press Harris For Answers in Battleground State Read More »

Powering AI Leapfrogs Climate Concerns

It’s become clear there’s not enough low-carbon energy to satisfy data centers’ needs, and natural gas will be key.   It’s Climate Week in New York, and dominating the conversation has been the apparently insatiable appetite of artificial intelligence for power. The subject has been much in the news. Just last week, we learned that the infamous Three Mile …

Powering AI Leapfrogs Climate Concerns Read More »

Oil Prices Slide on Prospects Saudi Arabia to Raise Output

(Reuters) – Oil prices slipped on Thursday, reversing earlier gains, on news that Saudi Arabia, the world’s top crude exporter, will give up on its price target in preparation for raising output. Brent crude futures were down $1.27, or 1.7%, to $72.19 a barrel, while U.S. West Texas Intermediate crude fell $1.18, also 1.7%, to …

Oil Prices Slide on Prospects Saudi Arabia to Raise Output Read More »

About 29% of Crude Production Shut in Gulf of Mexico Due to Hurricane Helene

 About 29% of crude production and 17% of natural gas output in the U.S. Gulf of Mexico were shut in response to Hurricane Helene, the U.S. Bureau of Safety and Environmental Enforcement said on Wednesday. Energy producers had shut-in 511,000 barrels per day of oil production and nearly 313 million cubic feet of natural gas …

About 29% of Crude Production Shut in Gulf of Mexico Due to Hurricane Helene Read More »

EQT Plans To Reverse Some US Natgas Production Curtailments in Oct – CEO

(Reuters) – U.S. energy company EQT plans to reverse some natural gas production curtailments in October and November as demand for the fuel and prices increase, CEO Toby Rice told Reuters on Wednesday. EQT, the biggest U.S. natural gas producer, has along with other U.S. drillers curtailed output in 2024 after prices collapsed to multi-year …

EQT Plans To Reverse Some US Natgas Production Curtailments in Oct – CEO Read More »

US Oil Inventories Fall More Than Forecast, Crude at 2-1/2-Year Low, EIA Says

(Reuters) – U.S. oil inventories fell across the board last week, the Energy Information Administration said on Wednesday, drawing down more than expected and with crude oil stockpiles hitting their lowest level in nearly 2-1/2 years. Crude stocks dropped by 4.5 million barrels to 413 million barrels in the week ended Sept. 20, the EIA …

US Oil Inventories Fall More Than Forecast, Crude at 2-1/2-Year Low, EIA Says Read More »