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U.S. natural gas production and demand will rise to record highs in 2024, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday. The EIA projected dry gas production will rise to 104.37 billion cubic feet per day (bcfd) in 2024 and 106.46 bcfd in 2025 from a record …
U.S. Natgas Output and Demand to Hit Record Highs in 2024 – EIA Read More »
U.S. natural gas futures slid about 3% to a nine-month low on Tuesday as output slowly rises, the amount of gas flowing to liquefied natural gas (LNG) export plants declines and on forecasts for lower demand this week than previously expected. Prices fell even though the latest forecasts called for colder weather and more heating …
U.S. Natgas Prices Slide 3% to Nine-Month Low on Rising Output, Lower Demand Read More »
Tellurian is exploring the sale of its Haynesville upstream business, the liquefied natural gas (LNG) firm said on Tuesday, as it looks to raise capital for its Driftwood LNG project. The company has been trying to develop a 27.6 million metric-tons-per-annum LNG plant, which has suffered multiple delays, in Lake Charles, Louisiana, and earlier said …
Tellurian Explores Sale of Upstream Business to Finance Driftwood LNG Read More »
By Javier Blas Big Oil has delivered a set of remarkable earnings. Without fanfare, ExxonMobil Corp., Chevron Corp. and Shell Plc all did in the fourth quarter what they’d promised: Start new oil and gas projects; cut costs; return lots of money to shareholders. It’s a model for the notoriously boom-and-bust industry. Together, the three …
Exxon, Chevron and Shell Deliver a Cash Gusher for Investors Read More »
Summary BP profit halves to $14 bln in 2023 Boosts buybacks to $1.75 billion over next 3 months Gas and LNG trading help boost Q4 profit LONDON, Feb 6 (Reuters) – BP posted forecast-beating earnings of $3 billion for the fourth quarter and boosted share repurchases as its recently appointed CEO vowed to make pragmatic …
BP Beats Forecast With $3 Billion Quarterly Profit, Boosts Buybacks Read More »
Exxon Mobil has been ordered to explain to a federal judge by Monday why a lawsuit it filed against two shareholder activists should continue after the groups withdrew the climate resolution they had proposed for the energy giant’s annual meeting. In the order issued on Friday, U.S. District Judge Mark Pittman told Exxon to file …
Exxon Shareholder Proposal Withdrawal May End Lawsuit Read More »
(Reuters) – Rare earth prices have likely bottomed out and are poised to rise later this year on demand from electric vehicles (EVs) and wind power and as dominant producer China is expected to pull back on expanding output quotas, analysts said. Rare earths are a group of 17 elements used in products from lasers …
Rare Earths Prices Seen Rebounding in Second Half of 2024 Read More »
Portfolio investors raced to build bullish positions in petroleum at the end of January amid signs the business cycle slowdown is coming to an end and fears about attacks on tankers near southwestern Arabia. Hedge funds and other money managers purchased the equivalent of 97 million barrels in the six most important petroleum futures and …
Oil Investors Try to Get Bullish as Global Economy Improves: John Kemp Read More »
U.S. oil refiners are expected to have about 1.9 million barrels per day (bpd) of capacity offline for the week ending Feb. 9, increasing available refining capacity by 110,000 bpd, research company IIR Energy said on Monday. Offline capacity is expected to fall to 1.1 million bpd in the week ending Feb. 16, IIR added. …
U.S. Oil Refiners’ Weekly capacity Seen Up 110,000 Bpd – IIR Read More »
The Biden administration’s decision to halt new natural gas-export licenses is a “mistake” that will slow efforts to reduce climate-damaging emissions, according to Exxon Mobil Corp. “Reducing production of LNG actually harms the world achieving net zero sooner rather than later,” Chief Financial Officer Kathy Mikells said during an interview. “It’s a mistake.” Although natural gas that is liquefied …
Biden’s Natural Gas Export Project Freeze Is a ‘Mistake,’ Exxon CFO Says Read More »
