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(Reuters) – Operators drilling for oil in Texas are scrambling to dispose of their excess natural gas amid a supply glut and weak prices, prompting an uptick in flaring requests. The Railroad Commission of Texas (RRC), which regulates the state’s oil and natural gas industry, last week approved 21 exemption requests from operators, mostly in …
Texas Operators Turn to Flaring Amid Weak Gas Prices Read More »
The global upstream industry could see dealmaking worth another $150 billion throughout the remainder of the year, with focus shifting to shale plays in U.S. other than the Permian Basin, analysts at Rystad Energy said in a report. M&A activity in the global upstream industry has already crossed the $64 billion mark this year, most …
Global Upstream Sector Set for deals Worth $150 billion Over Rest of 2024, Report Says Read More »
Demand for bank loans fell in 2022 and again in 2023 The drop occurred after two years of rising oil prices Bloomberg Last year, the demand for loans from fossil-fuel companies fell 6% year-on-year and that followed a decline of 1% in 2022. From a climate perspective, this may sound like good news because the …
Oil Producers Flush With Cash Cut Reliance on Funding Markets Read More »
The amount of natural gas flowing to the seven U.S. liquefied natural gas (LNG) export plants was on track to rise by about 5% to a three-week high on Monday as Freeport LNG in Texas started to pull in more feedgas, data from financial firm LSEG showed. The startup and shutdown of Freeport and other …
U.S. Natgas Flows Rise to 3-Week High as Texas Freeport Pulls in More Fuel – LSEG Read More »
Intraday cash prices at Waha fall to about -$3 per million Btu Kinder Morgan shut a pipeline segment, trapping gas in region Natural gas prices in West Texas under pressure from a glut in supply sank even further into negative territory after a segment of a pipeline system was shut following a fire, threatening …
Texas Natural Gas Prices Plummet After Pipeline Fire Read More »
Demand likely to remain above 100 million b/d as late as 2040 Firm sees criticism despite $5 billion annual low-carbon spend The world could still be using more than 100 million barrels a day of oil by 2040, making it vital to start preparing and adapting for a warmer climate, said TotalEnergies SE Chief Executive Officer Patrick Pouyanne. …
Pipeline operator Kinder Morgan said on Friday a fire that erupted on a west Texas natural gas pipeline it operates was extinguished after burning for most of the day. The Houston company declared force majeure on a segment of the pipeline in Ward County, Texas, following the fire, according to a notice filed on a …
Kinder Morgan Declares Force Majeure on West Texas Natgas Pipeline Read More »
The pace at which global energy demand is growing means that alternatives cannot replace oil at the necessary scale writes OPEC Secretary General Haitham Al Ghais. Rather than calling for an end to oil, the focus should be on reducing emissions. OPEC Secretary General Haitham Al Ghais A recent report on oil demand by The …
Energy executives warn that it will be a long and costly journey, while activists and analysts say there are significant rewards and little time to waste. The nations of the Gulf know that the world’s shift to cleaner energy could change everything: Their economies today depend on demand for oil and gas, and their efforts …
U.S. natural gas futures eased on Thursday, having hit their lowest in a month earlier in the session, as the federal data showing a bigger-than-expected storage build last week added pressure to the market. Front-month gas futures for May delivery on the New York Mercantile Exchange traded 1.9 cents lower, or 1.1%, to $1.63 per …
U.S. Natgas Prices Ease on Larger-Than-Expected Storage Injection Read More »
