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Summary Shell announces further $3.5 bln in buybacks Oil trading boosted by Red Sea diversions and Russia disruption LNG earnings beat expectations LONDON, May 2 (Reuters) – Shell reported first-quarter profit of $7.7 billion on Thursday, sharply beating expectations after disruptions in the Red Sea and Russia lifted oil refining and trading. The company also said …
Shell Smashes Forecasts with $7.7 Billion Quarterly Profit Read More »
U.S. oil and gas production rebounded sharply in February after extensive disruption the previous month caused by freezing wells and other outages stemming from Winter Storm Heather in the middle of January. Nationwide crude and condensates output jumped by 0.6 million barrels per day (b/d) in February reversing a decline of 0.7 million b/d in …
U.S. Oil and Gas Production Rebounds After Winter Storm: Kemp Read More »
U.S. spot natural gas prices at the Henry Hub benchmark in Louisiana fell to a 29-year low in April, according to data from financial firm LSEG. Gas prices averaged $1.60 per million British thermal units (mmBtu) in April, their lowest since averaging $1.59 during the month in 1995. That compares with $2.16 in April 2023, …
U.S. Henry Hub Natgas Prices Fall to 29-Year Low in April Read More »
A U.S. appeals court on Tuesday upheld federal approvals for a natural gas pipeline system expansion project in Louisiana and Mississippi, rejecting environmentalists’ claims that the government performed an insufficient review of its climate harms. A unanimous three-judge panel of the U.S. Circuit Court of Appeals for the D.C. Circuit held that the Federal Energy …
U.S. Appeals Court Upholds FERC Approvals for Gas Pipeline Expansion Read More »
Total Talks Up New York Listing With Sector Abuzz About Switches Shell, Glencore already subject of speculation over move to US ESG more important to European investors than on Wall Street TotalEnergies SE is increasingly making noise about moving its stock listing to New York, adding to chatter around European giants potentially being lured by US investors’ …
TotalEnergies Talks Up New York Listing With Sector Abuzz About Switches Read More »
(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 »
