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Ukraine Says Russian Oil Refineries Are Legitimate Targets

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

(Reuters) – A Ukrainian deputy prime minister said on Friday Russian oil refineries were legitimate targets for its forces, after a media report said the United States, a close ally, had asked Kyiv to stop conducting drone strikes on refineries. Ukraine dramatically stepped up its attacks on Russian energy facilities this month, launching numerous long-range drones to …

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CERAWeek: Oil Demand Outpaces Expectations, Testing Calculus on Peak Crude

Conventional Energy, Latest, Oil, US News / By

Global oil consumption is outpacing expectations this year Oil executives gathered in Houston confident on demand outlook The world is using more oil than ever and demand is outpacing expectations again this year, raising questions about how soon global consumption will peak. The unabated thirst for crude contributed to an increasingly confident tone from executives …

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No Go Joe: Biden’s LNG-Permit Halt Challenged by 16 States in Lawsuit

Conventional Energy, Latest, LNG, US News / By

White House pause on new permits threw sector into disarray Ban will ‘annihilate critical jobs’: Texas attorney general Texas, Louisiana and more than a dozen other US states challenged the Biden administration’s suspension of new licenses to export natural gas via ocean-going tankers. A lawsuit filed against President Joe Biden and the US Department of Energy in Louisiana federal court on …

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Oil Traders Expect Stocks to Fall Significantly after OPEC Extends Cuts

Conventional Energy, Latest, Oil, US News / By

By John Kemp LONDON, March 21 (Reuters) – Global petroleum inventories are only slightly below the long-term seasonal average but futures prices have already moved into a steep backwardation as traders anticipate they will deplete further over the rest of 2024. OECD commercial inventories of crude oil and refined products are estimated to have been around …

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Canada’s Trans Mountain Expansion Startup Date Hangs on Final 2.5-Km Leg

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

Last segment goes through hard rock in rugged B.C. terrain Bloomberg News The startup date for Canada’s mega oil pipeline should be known within weeks as Trans Mountain Corp. drills through hard rock in British Columbia’s rugged Fraser Valley for the final stretch of the 1,150-kilometre conduit. “The next few weeks will be very important in terms …

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LNG Growth to be Met by Other Countries if U.S. Walks Away – Baker Hughes CEO

Conventional Energy, Latest, LNG, US News / By

If the U.S. pulls back from permitting new liquefied natural gas (LNG) export plants, demand for the fuel will still be met from projects in Qatar, Argentina and Africa, the CEO of Baker Hughes, the world’s largest provider of equipment for the LNG sector, said on Thursday. The Biden administration in January paused new export …

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U.S. Natgas End-of-Season Storage to Reach 7-Year High in March

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

U.S. natural gas storage is on track to end the November-March winter withdrawal season at 2.050 trillion cubic feet (tcf) on March 31, the highest since 2017, according to analysts’ estimates. That compares with 1.850 tcf of gas in storage at the end of the winter withdrawal season in 2023, 2.063 tcf at the end …

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U.S. Permit Reviews, Red Tape Provoke Energy Conference Debates

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

U.S. energy permitting delays and the need for streamlined new project reviews dominated conversations among oil and gas executives and lawmakers in meeting rooms and hallways at the CERAWeek energy conference this week. The fossil fuel industry historically has objected to red tape that slows or raises development costs. But the topic has moved higher …

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Ukraine’s Drone Strikes on Russian Oil Refineries Mark New Phase in War

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

Attacks on refineries have both symbolic and strategic goals Kyiv plans to send ever-increasing swarm of drones into Russia Ukraine’s fight against Russia’s invasion has entered a new phase, pitting homegrown drone technology against a 2,000 kilometer (1,200 mile) swathe of largely Soviet-era oil facilities. At least nine major refineries have been successfully attacked this …

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Oil Retreats From Multi-Month Highs Ahead of Fed Decision

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

Summary Crude falls from multi-month highs Investors await U.S. Federal Reserve interest rate announcement U.S. crude, gasoline stocks fell last week – API LONDON, March 20 (Reuters) – Oil prices edged lower on Wednesday after hitting multi-month highs in the previous session, as investors braced for the U.S. Federal Reserve’s interest rate policy announcement later …

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