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Goldman says oil stock draws cut bearish risk to Brent price

(Reuters) – Goldman Sachs sees less of a downside risk to oil prices from higher-than-expected inventories, noting that lower OECD commercial stocks could add $2 to its end-2023 Brent outlook of $86 per barrel. OECD commercial stocks, which the Wall Street investment bank estimated were equal to about a third of the more than 9 …

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Cheniere Energy Strikes LNG Supply Deal with BASF

Aug 22 (Reuters) – Cheniere Energy  said on Tuesday it would supply 0.8 million tonnes per annum (mtpa) of liquefied natural gas (LNG) to Germany’s BASF. The United States has emerged as the world’s largest LNG exporter after Western sanctions on major supplier Russia left Europe scrambling to find alternate sources for the commodity. Cheniere …

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Heat wave to break power records in Texas and central U.S. this week

Aug 21 (Reuters) – Power demand in Texas and other U.S. central states was on track hit record highs this week as homes and businesses crank up their air conditioning to escape another brutal heat wave moving slowly across the country. Economic and population growth has boosted electricity use in Sun Belt states like Texas, …

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U.S. Energy Firm Payouts to Oil Investors Top Exploration Spending for First time

(Reuters) – Top U.S. energy companies last year paid out more of their earnings to shareholders than they invested in new oil and gas fields for the first time, according to a report released on Tuesday. The outlook for stronger energy prices has not changed the focus on investor returns from the U.S. industry, according …

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Permian Resources to Acquire Earthstone Energy in All-Stock Transaction, Creating a $14 Billion Premier Delaware Basin Independent E&P

MIDLAND, Texas and THE WOODLANDS, Texas, Aug. 21, 2023 (GLOBE NEWSWIRE) — Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) and Earthstone Energy, Inc. (“Earthstone Energy” or “Earthstone”) (NYSE: ESTE) today announced that they have entered into a definitive agreement under which Permian Resources will acquire Earthstone in an all-stock transaction valued at …

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Sculpting the Energy Worker of the Future – Geoffrey Cann

Energy companies will need to select for different skills and mindsets By Geoffrey Cann The energy worker of the future will require a different set of personal attributes than those normally selected for today. Energy companies may well find these attributes in short supply. One of my more interesting roles is the occasional advisory work …

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Western Canada Select (WCS) vs WTI – Why is There a Discount?

by EnergyNow Media Western Canada Select (WCS) is a type of heavy crude oil produced in Western Canada, primarily in the Alberta oil sands. WCS often trades at a discounted price compared to West Texas Intermediate (WTI), a benchmark light crude oil produced in the United States. There are several key reasons for this price …

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PACS Makes Inspection Processes Round – An Interview With the CTO of DIMATE

The inspection devices are digital, an Asset Integrity Management (AIM) is in use – and still the digitalization in everyday life falls short of expectations? This usually has nothing to do with the components available so far, but rather with what is still missing: the link that fills all digital gaps in the inspection process …

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