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U.S. producers blew through forecasts last year, adding the equivalent of another Venezuela to global supplies. As reliably as warm weather returns to West Texas in late February, US shale executives are out on the road this earnings season pledging they’ll keep production growth modest during the next 12 months. The past 12 months offer reason for …
Republican lawmakers opposing President Joe Biden’s pause on LNG export approvals said the U.S. House of Representatives will vote on Friday on a bill to take those approvals out of the hands of the Department of Energy. The bill has been in development since before the move last month by Biden, a Democrat, to pause …
U.S. House to Vote on Biden’s LNG Political Pause Friday, White House Defends Move Read More »
U.S. crude oil stockpiles rose last week while gasoline and distillate inventories fell as refinery runs dropped to their lowest since December 2022, the Energy Information Administration said on Wednesday. Crude inventories rose by 12.0 million barrels to 439.5 million barrels in the week to Feb. 9, the EIA said, far exceeding analysts’ expectations in …
U.S. Crude Stockpiles Rise, Products Draw Down as Refining Drops – EIA Read More »
Tim Tarpley On March 25, 2022, President Joe Biden and European Commission President Ursula von der Leyen stood together and pledged to work together to lay the framework for a significant increase in U.S. liquefied natural gas, or LNG, to be imported into the European Union. This decision was vital in helping the European Union’s …
Halting American Natural Gas is a Dangerous Political Dance – Tim Tarley Read More »
(Reuters) – Oil prices were little changed on Wednesday, holding on to Tuesday’s gains on a robust demand growth forecast from OPEC and a sharp decline in U.S. fuel stocks. Brent crude futures rose by 12 cents, or 0.14%, to $82.89 a barrel by 1235 GMT. U.S. West Texas Intermediate (WTI) crude futures were up …
Oil Holds Firm on OPEC Demand Forecast and U.S. Fuel Stocks Read More »
Summary As renewables advance, companies rush to shed costly oilfields Shareholder payouts taking more cash than capital expenditures (Reuters) – Oil majors are targeting new oilfields that can be profitable even if oil prices fall to about $30 per barrel, using a third year of rising demand to reshape portfolios amid uncertainty over the industry’s …
Oil Majors Rejig Portfolios with $30-Per-Barrel Price in Mind Read More »
(Reuters) – Global demand for liquefied natural gas (LNG) is estimated to rise by more than 50% by 2040, as China and countries in South and Southeast Asia use LNG to support their economic growth, Shell said in an annual report on Wednesday. Global LNG trading rose by 1.8% to 404 million metric tons in …
Shell Expects 50% Rise in Global LNG Demand by 2040 Read More »
The Biden administration’s pause on approving permits for U.S. liquefied natural gas (LNG) export terminals could backfire by boosting coal usage overseas, Alan Armstrong, CEO of U.S. natural gas pipeline operator Williams Companies, told Reuters on Tuesday. Last month, the administration paused approvals for pending and future applications to export LNG from new projects as …
U.S. LNG Export Terminal Permit Pause Could Boost Coal Use Abroad, Says Williams CEO Read More »
WASHINGTON, Feb 13 (Reuters) – President Joe Biden’s decision to pause approvals of new exports of liquefied natural gas will have no affect on U.S. supplies to Europe over the next two or three years, a European Commission official said on Tuesday after meeting U.S. officials. “What was of course very important for me, was reassurance …
EU Official Says Biden Pause on U.S. LNG Exports Will Not Hit Supply Short-term Read More »
U.S. natural gas futures fell about 5% on Tuesday to a fresh 3-1/2-year low on near-record output, ample amounts of fuel in storage and forecasts for warmer weather and less heating demand next week than previously expected. Traders also noted that gas flows to U.S. liquefied natural gas (LNG) export plants should remain low so …
U.S. Natgas Prices Fall 5% to 3-1/2-Year Low on Mild Winter Weather Read More »
