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Company makes final investment decision for Ruwais project UAE seeking to become self sufficient in gas, bolster trading The United Arab Emirates’s biggest energy company approved a major liquefied natural gas export terminal as it seeks to tap into a growing global market for the fuel. Abu Dhabi National Oil Co. made the final investment decision to …
Abu Dhabi’s Adnoc Greenlights Its Biggest LNG Export Project Read More »
Photographer: Callaghan O’Hare/Bloomberg Oil producer Matador Resources Co. agreed to buy assets in the Permian Basin from a portfolio company of EnCap Investments LP for $1.9 billion in cash, the latest in a series of shale industry tie-ups. The deal includes oil and gas producing properties and undeveloped acreage in New Mexico and West Texas owned by …
Matador to Buy Permian Oil Assets From EnCap for $1.9 Billion Read More »
Analysts at producer and consumer agencies have different takes on how much the world needs. Analysts from the International Energy Agency and the Organization of Petroleum Exporting Countries are growing even further apart on how much oil the world needs. The two agencies have updated their forecasts for the first time since the wider OPEC+ …
OPEC+ Producers Are Caught Between Diverging Oil Forecasts Read More »
U.S. oil refiners and West Coast traders are flagging concerns about the quality of crude shipped on the newly completed Trans Mountain pipeline expansion (TMX), warning that high vapor pressure and acidity limits could deter purchases of Canadian heavy barrels. The $24.84 billion (C$34 bln) expansion started operations last month and has nearly tripled shipping capacity to Canada’s …
By Reuters June 12 (Reuters) – Mountain Valley can begin operating its $7.85 billion Virginia natural gas pipeline after receiving approval from the U.S. Federal Energy Regulatory Commission (FERC) according to a filing on Tuesday. The Mountain Valley project, the only big gas pipeline under construction in the U.S. Northeast, has encountered numerous regulatory and court …
Mountain Valley Gets Regulator’s Approval for U.S. Natural Gas Pipeline Read More »
Summary Oil forecasters anticipate stock draws in H2 2024 – analyst Both contracts rise by $1 a barrel Key US data for interest rate cycle expected on Wednesday LONDON, June 12 (Reuters) – Oil prices ticked higher on Wednesday after three key forecasters predicted that global oil inventories would fall in the second half of …
Oil Perks up on Inventory Drawdown Forecasts for This Year Read More »
U.S. natural gas production will drop more this year than earlier estimates and demand will hit a record, the U.S. Energy Information Administration said in its Short Term Energy Outlook on Tuesday. EIA projected dry gas production will ease from a record 103.8 billion cubic feet per day (bcfd) in 2023 to 102.1 bcfd in …
U.S. EIA Deepens forecast for drop in U.S. natgas output in 2024 Read More »
A U.S. congressional committee will accuse the biggest Wall Street firms on Tuesday, in a report seen by Reuters ahead of its publication, of colluding with advocacy groups to force companies to shrink their greenhouse gas emissions. The report is the first of its kind produced by the Republican-led Judiciary Committee in the House of …
U.S. House Committee Report Finds Wall Street ‘Colluded’ to Curb Emissions Read More »
KKR & Co. co-founder Henry Kravis pushed back against climate activists who interrupted a speech to criticize the firm’s fossil-fuel investments, saying they underestimate the difficulty of shifting the economy to clean energy. Kravis was speaking on a panel at the Conference of Montreal on Monday when protesters walked to a podium on stage and accused him of “ruining Canada.” …
(Reuters) – Indian Oil Minister Hardeep Singh Puri on Tuesday announced that state-run Bharat Petroleum Corp plans to build a new refinery and the nation is looking at signing more oil import deals with countries including Russia at discounted rates. Puri, who took charge of the ministry for a second time on Tuesday, said Prime …
India Eyes Oil Deals With Nations Including Russia, Minister says Read More »
