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By David Wethe Closely held explorers, once the engine to the Permian’s shale growth coming out of the pandemic, are now expected to lead US oil explorers into spending contraction next year. Private oil and natural gas explorers are projected to cut their budgets by 4% to an average of $34.4 billion in 2024, according to the 39th …

Private Shale Drillers Set to Cut Spending After Boom in 2023 Read More »

U.S. launches Red Sea force as ships reroute to avoid attacks LONDON, Dec 19 (Reuters) – Several shipping companies and a few liquefied natural gas (LNG) tankers have decided to avoid the world’s main East-West trade route, following attacks launched by Yemen’s Houthi group on commercial ships at the southern end of the Red Sea. The attacks raised the …

How Does the Red Sea Attacks Affect Gas Shipping?  Read More »

A Sad Story about Budget Rentals and a Tesla Model 3 By Geoffrey Cann I had an occasion to rent a car for the first time since the pandemic, for a few days out of Halifax, and visited the usual suspects to see what was on offer. Interestingly, Budget was making a vague commitment for the availability of a Tesla …

Electric Cars Are Cool But Only When They Work – Geoffrey Cann Read More »

Summary US launches multinational push to safeguard Red Sea commerce Disruption unlikely to have big effect on oil -Goldman U.S. crude inventories expected to have fallen last week LONDON, Dec 19 (Reuters) – Oil steadied on Tuesday as investors considered the potential impact on oil supply from attacks by Yemen’s Iran-aligned Houthi militants against ships …

Oil Steadies as U.S. Leads Push to Safeguard Red Sea Vessels Read More »

(Reuters) – SunPower (SPWR.O) on Monday raised doubts about its ability to stay in business, saying that its breach of a key term in a credit agreement could prompt lenders to recall certain loans, sending its shares tumbling 23%. The company said in a regulatory filing that lenders may demand immediate payment of $65.3 million in …

SunPower Shares Slide After Raising Going-Concern Doubts Read More »

Analysis by Energy Workforce President Tim Tarpley After a significant comment period and review, EPA Administrator Michael Regan released a comprehensive final methane rule during COP28, which he called a big part of the Biden Administration’s climate change efforts to reach net zero by 2050. In short, the final rule creates a brand new methane monitoring …

Commentary: Final Methane Rule Released by Biden Administration Will Be Impactful For Our Sector – Tim Tarpley Read More »

U.S. natural gas futures climbed more than 3% on Monday, lifted by seasonal demand and as record amounts of gas flowed to liquefied natural gas (LNG) export plants. Front-month gas futures for January delivery on the New York Mercantile Exchange (NYMEX) were up 7.9 cents, or 3.2%, at $2.57 per million British thermal units (mmBtu) …

U.S. Natgas Prices Gain Over 3% on Higher Demand, Strong LNG Exports Read More »

HOUSTON, Dec 18 (Reuters) – Oil is flooding out of Texas in the final weeks of 2023, as traders find outlets abroad for record U.S. production and dodge a hefty year-end tax bill on their inventories. U.S. crude exports, nearly all of which leave from the U.S. Gulf coast, averaged about 4 million barrels per day (bpd) so far …

Record Output, Tax Dodge Pushes up Crude Exports From U.S. Gulf Coast Read More »

Goldman Sachs trimmed its price expectation for Brent crude in 2024 by $10 per barrel to between $70 and $90, saying strong production from the United States would moderate any upside in oil prices. “We still look for range-bound prices and only moderate price volatility in 2024. Elevated spare capacity to handle tightening shocks should …

Goldman Cuts 2024 Brent Price Forecast on Strong U.S. Supply Read More »