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Global Gas, LNG Prices to Remain Relatively Weak in 2024 Amid Subdued Demand – WoodMac

CDN and International News, Conventional Energy, Latest, LNG, Natural Gas / By

Global prices of gas and liquefied natural gas (LNG) are expected to remain relatively weak in 2024, with demand subdued due to high storage levels in Europe and Asia and a mild Northern Hemisphere winter, consultancy Wood Mackenzie said on Wednesday. “Wood Mackenzie has been forecasting lower 2024 prices for much of last year, especially compared …

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Why the Texas Power Grid Is Still Facing Challenges

Conventional Energy, Electricity Grid, Energy Topics & Technology, Latest, Natural Gas, US News / By

Bloomberg The electric power grid in Texas, which collapsed dramatically in a 2021 winter storm, is being tested once again as the state endures an Arctic blast. Demand for electricity has broken wintertime records as the state’s population continues to grow amid a rapid change in its energy mix, with wind and solar displacing fossil fuels. That’s been stoking …

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Deep Freeze Hits U.S. Oil Industry From North Dakota to Texas

Conventional Energy, Latest, Natural Gas, Oil, Pinned Primary, US News / By

Summary Texas refineries report malfunctions as equipment freezes Some refineries performing overhauls planned months ago HOUSTON, Jan 16 (Reuters) – A severe winter storm shut a U.S. Gulf Coast refinery in Texas on Tuesday, triggered malfunctions at others and halved North Dakota oil production as it dumped snow and rain across a broad swath of …

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Biden Urged to Use Obscure Law to Thwart TC Energy Pacific Northwest Pipeline Expansion

Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Pipelines / By

Activists tout decades-old law to advance climate agenda TC Energy plans expansion of gas pipeline in Pacific Northwest Joe Biden Environmentalists are urging the White House to use an obscure legal tool to thwart TC Energy Corp.’s planned expansion of a natural gas pipeline in the Pacific Northwest that they say would stoke climate change. The …

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U.S. Oil Output Due to Drop in February for Fifth Straight Month, EIA Says

Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Oil, Shale, US News / By

U.S. oil output from top shale-producing regions is due to decline in February for the fifth consecutive month, the U.S. Energy Information Administration (EIA) said in a monthly report on Tuesday. Oil output is set to fall to 9.68 million barrels per day (bpd) next month, driven by declines in the Eagle Ford and Bakken …

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Deep Freeze Triggers U.S. Gulf Coast Refinery Shutdown

Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Oil, Refineries, US News / By

 TotalEnergies’ 238,000 barrel-per-day (bpd) refinery in Port Arthur, Texas, was examining units after a plantwide power outage on Tuesday morning as a winter storm brought frigid temperatures to the U.S. Gulf Coast, sources familiar with the company’s operations said.Flint Hills Resources said its 343,000-bpd refinery in Corpus Christi, Texas, sustained significant impacts from unseasonably cold …

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U.S. Natural Gas Demand Eyes Record as Arctic Blast Dents Output

Conventional Energy, Latest, Natural Gas, US News / By

U.S. natural gas supplies fell to near a 13-month low on Monday as an Arctic blast across much of the country froze wells, while demand for the fuel for heating and power generation was set to hit a record high on Tuesday. In Texas, meanwhile, the state’s power grid operator, the Electric Reliability Council of …

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Biden Walks Political Tightrope on U.S. Oil Boom

Conventional Energy, Latest, Natural Gas, Oil, US News / By

Original Article Published in the Hill As U.S. oil production booms, President Biden finds himself on a tightrope between courting moderate voters and maintaining enthusiasm among progressives. Domestic oil production is projected to hit record highs this year. That fact could be used to parry Republican attacks on the administration’s energy agenda as Biden seeks reelection, …

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Frigid Temps Cut U.S. Natural Gas Supply as Demand Soars, Texas Faces Possible Shortfall

Conventional Energy, Latest, Natural Gas, US News / By

A man stands outside a coffee shop after a blizzard left several inches of snow, in downtown Des Moines, Iowa, U.S., January 13, 2024. REUTERS/Marco Bello/File Photo Acquire Licensing Rights (Reuters) – U.S. natural gas output fell to a preliminary 11-month low on Sunday as frigid weather froze wells across the country, while gas demand for heating …

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Oil Consumption and Prices Revert to Trend – John Kemp

Conventional Energy, Energy Topics & Technology, Gasoline, Latest, Natural Gas, Oil, US News / By

By John Kemp (Reuters) – Global consumption of petroleum and other liquids hit a record high last year and is forecast to increase further in both 2024 and 2025, but that does not necessarily mean prices must rise to ensure demand is met. Worldwide consumption averaged 101.1 million barrels per day (b/d) in 2023, narrowly beating …

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