Conventional Energy

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U.S. Natural Gas Declines as Weather Moves Cooler in Central US

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

U.S. natural gas futures fell as weather forecasts shifted cooler for the central part of the country. Gas storage remains significantly above the five-year average, inciting fears of a continued oversupplied market, and production is strong. Futures for August delivery settled -12.3c, or -4.7%, to $2.478/mmbtu on Nymex Lowest close since May 15 Weather: Forecasts are trending …

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Venezuela’s Maduro Accepts Proposal to Restart Direct U.S. Talks

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

Venezuelan President Nicolas Maduro said on Monday that he has accepted a proposal to restart direct talks with the United States. “After thinking about it, I have accepted and next Wednesday the talks will restart with the United States government to comply with the agreements signed in Qatar and to reestablish the terms of the …

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Oil Bulls Advance Cautiously as Stocks Expected to Fall: Kemp

Conventional Energy, Energy Storage, Energy Topics & Technology, Latest, Oil, US News / By

Investors purchased petroleum for the third week running as bearishness triggered by the OPEC+ meeting at the start of June waned and fund managers anticipated a big depletion of inventories in the third quarter. Hedge funds and other money managers purchased the equivalent of 86 million barrels in the six major petroleum futures and options …

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Oil Rises to Two-Month High on Summer Demand Outlook and Supply Fears

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

(Reuters) – Oil prices extended gains to two-month highs on Tuesday on expectations of rising demand during the summer driving season and possible supply disruptions from Hurricane Beryl. Brent crude futures rose 70 cents, or 0.81%, to $87.30 a barrel by 1035 GMT, their highest since April 30. U.S. West Texas Intermediate (WTI) crude was …

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Federal Judge Halts U.S. Government’s Ban on LNG Permits

Conventional Energy, Latest, LNG, Pinned Primary / By

A federal judge on Monday blocked the U.S. government’s ban on approving applications to export liquefied natural gas (LNG), in response to a lawsuit by Republican-led states. U.S. District Judge James Cain Jr, in Louisiana, a Trump appointee, ruled that the LNG export ban “be stayed in its entirety, effective immediately.” A coalition of 16 …

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Saudi Aramco Awards $25 Billion in Contracts For Gas Expansion

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

Saudi Aramco has awarded construction contracts worth $25 billion for the development of its Jafurah gas project, as it looks to boost production of the fuel considered a key part of plans to reduce plant-warming emissions. The contracts awarded include $12.4 billion for increasing gas output at Jafurah, plus $8.8 billion for expanding the so-called master gas system, …

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China Sets Up New State Body to Drill Deep for Oil and Gas Reserves

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

(Reuters) – China is setting up a new entity that groups national oil producers and other state firms to search for ultra-deep oil and gas reserves and tackle harder-to-extract non-conventional resources, state energy group CNPC said on Monday. This is in answer to President Xi Jinping’s call for the sector to have “new productive forces” …

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Canada’s Trans Mountain Oil Pipeline Just Shy of Target for First-Month Loadings

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

(Reuters) – About 20 ships loaded crude oil on Canada’s West Coast in the first full month of operation on the newly expanded Trans Mountain pipeline, according to vessel-tracking data on Sunday, slightly below the operator’s forecast. Loadings from the pipeline expansion are closely watched because the Canadian government wants to sell the $24.84 billion …

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Growing Number of European Money Managers are Axing Oil Stocks

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Denmark’s largest commercial pension fund just offloaded its US$170 million stake in Shell Plc Bloomberg News There’s a growing list of institutional investors in Europe who are stripping oil and gas stocks out of their portfolios, in a move they say reduces the risk of ending up with stranded assets and financial losses. The latest to do …

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U.S. Court May Put Off Hearing on Citgo Bids to September

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Oil, US News / By

Summary Auction manager seeks more time to review, negotiate bids Motion does not say how many or amount of bids received Court auction aims to satisfy $21 billion in claims HOUSTON, June 28 (Reuters) – A U.S. court has been asked to postpone to Sept. 19 a hearing to present the winning bid in an …

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