Conventional Energy

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Venture Global LNG Asks U.S. Energy Regulator to Keep Documents Confidential

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(Reuters) – Liquefied natural gas (LNG) exporter Venture Global LNG on Thursday delivered to U.S. regulators a proposed protective order seeking to keep documents on the construction of a Louisiana export facility confidential. The request will test the Federal Energy Regulatory Commission’s (FERC) willingness to back a call by Venture Global LNG’s customers to require …

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Non-OPEC+ to Lead 2024 Oil Production Growth, Offsetting Output Cuts – EIA

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(Reuters) – Near-term global oil and liquids production growth will be driven primarily by the U.S., Guyana, Canada, and Brazil, offsetting voluntary production cuts by OPEC+, the U.S. Energy Information Agency (EIA) forecast on Thursday. The boost to supply comes as the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, this month …

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U.S. Natgas Prices Climb on Bigger-Than-Expected Storage Withdrawal

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U.S. natural gas futures extended gains on Thursday, having hit their lowest level in over two weeks earlier in the session, after a weekly report showed a bigger-than-expected storage withdrawal last week. Front-month gas futures for April delivery on the New York Mercantile Exchange rose 2.4 cents, or 1.5%, to $1.682 per million British thermal …

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Democrats Warn U.S. Trade Bank on Backing Bahrain Oil Drilling

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Export-Import Bank set to vote on financing project Thursday Venture would undermine climate progress, lawmakers say Congressional Democrats are making a last-ditch appeal to leaders of the US Export-Import Bank before a critical vote Thursday, warning the agency its plan to underwrite oil drilling in Bahrain would undercut global efforts to fight climate change. “The world is …

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IEA Again Raises Oil Demand Outlook But Still Lags OPEC

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Summary IEA raises 2024 oil demand forecast by 110,000 bpd Houthi attacks on shipping lead to longer routes Economic headwinds still seen putting damper on growth LONDON, March 14 (Reuters) – The International Energy Agency raised its view for oil demand growth by 110,000 barrels per day (bpd) from its previous month’s forecast as Houthi …

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US Pump Prices Set to Jump as Refinery Outages Nip Supply, Analysts Say

Conventional Energy, Energy Topics & Technology, Gasoline, Latest, Oil, Tri-Pinned, US News / By

U.S. motorists are likely to see gasoline prices turn sharply higher in the coming weeks as major refinery outages have cut supplies ahead of a seasonal jump in demand, analysts said. The national average price for a gallon of gasoline has increased more than 9% from the start of the year to hover around $3.40 …

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Oil Prices Rise as Revised IEA Forecasts Suggest Tighter Market

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

Oil prices extended gains on Thursday, as investors digested the International Energy Agency’s (IEA) latest oil market report, in which it made an upward revision to demand growth forecasts and cut its projection for non-OPEC supply in 2024. Brent crude futures for May rose 72 cents, or 0.86%, to $84.75 a barrel by 1021 GMT. …

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BP, Adnoc Suspend $2 Billion Israel Gas Deal as War Rages

CDN and International News, Conventional Energy, Latest, Natural Gas / By

NewMed says firms still interested in the deal despite pause Suspension due to uncertainty in the external environment Bloomberg News BP Plc and the United Arab Emirates’ state oil firm suspended a $2 billion bid to buy a major stake in Israel’s NewMed Energy as the war in Gaza upends politics across the region. The suspension …

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Softer Spot LNG prices See Gemand Gain, Contrast With Contract Pain

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By Clyde Russell (Reuters) – Lower spot prices for liquefied natural gas (LNG) in Asia have yet to drive a significant boost in demand for the super-chilled fuel, although there is an increase in appetite from price-sensitive buyers such as India and China. Asia’s imports of LNG are estimated at 22.59 million metric tons for March …

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Methane Emissions from Energy Sector Near Record High in 2023, IEA Says

Conventional Energy, Energy Topics & Technology, Latest, Methane, Natural Gas, Oil, Tri-Pinned, US News / By

(Reuters) – Methane emissions from the energy sector remained near a record high in 2023 despite a raft of commitments from the oil and gas industry to plug leaking infrastructure, a report by the International Energy Agency said on Wednesday. However, the agency said it was optimistic new satellites could help improve monitoring and transparency around leaks …

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