Paisie: Oil Prices to Range Between $86-$88 in Second Half of 2024
Supply and demand dynamics overtake geopolitical instability from the Middle East to Ukraine in influencing oil prices.
Latest
Adding Green: HighPeak, Priority Power Advance WildHorse Solar
Developed and owned by Priority Power, the facility is expected to lower costs and minimize HighPeak’s greenhouse gas emissions.
EIA: Even with High Summer Demand, Maxed Out NatGas to be Sidestepped
Overall, electricity demand is forecasted to be up 3%, and solar power is expected to make up the difference.
U.S. Crude Stocks Fall, Gasoline and Distillate Inventories Rise – EIA
U.S. crude stocks fell while gasoline and distillate inventories rose last week, the Energy Information Administration said on Thursday. Crude inventories fell by 4.2 million barrels to 454.7 million barrels in the week ending May 24, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.9 million-barrel draw. Crude stocks at …
U.S. Crude Stocks Fall, Gasoline and Distillate Inventories Rise – EIA Read More »
Trinidad Court Recognizes ConocoPhillips’ $1.3 billion Claim Against Venezuela
U.S. oil firm ConocoPhillips won a Trinidad & Tobago court order granting it the right to enforce a $1.3 billion claim against Venezuela for past expropriations, casting a shadow over a proposed offshore natural gas venture between the two countries. Conoco has the right to enforce the order by seizing any future compensation Trinidad may …
Trinidad Court Recognizes ConocoPhillips’ $1.3 billion Claim Against Venezuela Read More »
Delay at Golden Pass LNG to Remove 219 Bcf of Demand
Despite a delay at Golden Pass LNG, East Daley still expect prices to average approximately $3.75/MMBtu in 2025.
Petrobras Awards Subsea 7 a Large Contract Offshore Brazil
Under the contract, which is valued at over $1.25 billion, Subsea 7 will develop the Búzios 9 field in Brazil’s Santos Basin.
OPEC+ Working on Complex Oil Cut Extension Deal for 2024-2025, Sources Say
The OPEC+ deal might include extending some or all of the current voluntary production cuts of 2.2 MMbbl/d.
Torus to Install Energy Storage Systems at Gardner Group Properties
Torus said the systems for real estate developer Gardner Group will integrate battery and flywheel energy storage systems with its software platform.
Calmer Waters May Be Ahead for Oil and Gas, Despite Wild Cards
Looking forward, while supply disruptions remain a possibility, the energy market’s nervousness is easing.