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Inflation-adjusted U.S. gas prices have fallen to the lowest level for over 30 years as a mild winter and continued production growth leave the market carrying a growing surplus of inventories. Front-month futures for gas delivered at Henry Hub in Louisiana slumped to $1.58 per million British thermal units on Feb. 15, the lowest in …
El Niño Pushes Real U.S. Gas Prices to Multi-Decade Low: Kemp Read More »
By Scott DiSavino Feb 16 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the second time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by two to 621 in the week …
US drillers cut oil and gas rigs for second time in three weeks – Baker Hughes Read More »
Reuters Feb 16 (Reuters) – Pipeline operator TC Energy beat fourth-quarter profit estimates on Friday, helped by high demand for liquefied natural gas (LNG). The U.S. was the world’s top LNG exporter last year, after Europe imposed sanctions on Moscow following Russia’s invasion of Ukraine. Full-year exports from the United States rose 14.7%, driven largely by …
Pipeline Operator TC Energy Beats Fourth-Quarter Profit Estimates Read More »
(Reuters) – Oil slipped on Friday as a forecast of slowing demand by the International Energy Agency offset support from geopolitical tensions and hopes that the U.S. Federal Reserve might cut interest rates sooner than expected. Weighing on sentiment, the IEA said on Thursday that global oil demand growth was losing momentum and it trimmed its 2024 …
Oil Slips as Weaker IEA Demand Outlook Offsets Rate Cut Hopes Read More »
(Reuters) – U.S. President Joe Biden has spent years implementing programs to fight climate change by advancing renewable energy and imposing tougher regulations on fossil fuels. Much of that work could go up in smoke if his likely rival Donald Trump beats him at the polls in November, according to Republican policy advisers. Former President Trump, who is on …
Second Trump Presidency Would Axe Biden Climate Agenda, Gut Energy Regulators Read More »
North Dakota’s oil production fell by 6,000 barrels per day in December to 1.27 million bpd, even as the number of producing wells climbed to a record high, monthly data from the state’s Industrial Commission showed on Thursday. Oil producers cut back on hydraulic fracturing activity ahead of expected colder weather and the holidays, reducing …
Oil Output in North Dakota Fell in Dec., Despite Record Well Count Read More »
ET executive calls anticompetitive claims ‘unfounded,’ ‘false’ Williams pushes back Louisiana project to 2025 amid dispute There’s no love lost between Energy Transfer LP and Williams Cos. The two pipeline giants hurled accusations at each other Wednesday and gave details of an ongoing court battle over building natural gas projects in Louisiana. Energy Transfer has been accused of …
Energy Transfer, Williams Trade Barbs as Gas Pipeline Spat Heats Up Read More »
Reuters Feb 15 (Reuters) – New York Governor Kathy Hochul said on Thursday that the New York State Public Service Commission has adopted a $200 million energy bill credit program to be managed by large electric and gas utilities on behalf of their customers. Under the plan proposed by the Energy Affordability Policy working group, …
New York Governor Unveils $200 Million Energy Bill Relief Program Read More »
U.S. natural gas producers are slashing spending and reducing drilling activity following a sharp decline in prices, companies said this week during earnings presentations and analyst calls. For months of relatively low gas prices, many producers kept output mostly steady on expectations that demand would rise in 2024 and 2025 when several liquefied natural gas …
U.S. Natgas Drillers Cut Spending, Reduce Activity Amid Price Crash Read More »
A bill to strip the power of President Joe Biden’s administration to freeze approvals of liquefied natural gas exports passed in the Republican-controlled U.S. House of Representatives on Thursday, but faces an uphill battle in the Senate. The House approved the bill sponsored by Representative August Pfluger of gas-producing Texas 224-200 on a mostly party-line …
