US News - Today in Oil and Gas

FERC Approves New England Grid’s Request to Delay Power Auction to 2026

(Reuters) – The Federal Energy Regulatory Commission (FERC) has granted a request by New England’s grid operator and a regional utilities association to postpone their 2025 forward capacity auction by a year. In November 2023, ISO New England and the New England Power Pool (NEPOOL) had sought the U.S. energy regulator’s permission to delay the auction …

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HEADWINDS: Equinor, BP Cancel Contract to Sell Offshore Wind Power to New York

Latest, Renewable Energy, US News, Wind / By mark

(Reuters) – European energy firms Equinor (EQNR.OL) and BP (BP.L) terminated their agreement to sell power to New York state from their proposed Empire Wind 2 offshore wind farm, citing rising inflation, higher borrowing costs, and supply chain issues. “This agreement reflects changed economic circumstances on an industry-wide scale and repositions an already mature project to continue development …

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U.S. Seeks 3 Mln barrels of Crude for Strategic Reserve

Conventional Energy, Latest, Oil, US News / By mark

The U.S. is seeking to buy up to 3 million barrels of U.S.-produced sour crude oil for delivery in April to help replenish the Strategic Petroleum Reserve (SPR), the Department of Energy said in a statement on Wednesday. President Joe Biden’s administration is slowly purchasing oil for the SPR after it sold a record 180 …

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U.S. Natgas Prices Gain 2% to One-Week High on Colder January Forecasts

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

U.S. natural gas futures gained about 2% to a one-week high on Wednesday on a decline in daily output and forecasts for colder weather in mid January than previously expected. That price increase came despite forecasts for milder weather and lower heating demand this week and next than previously expected, and a small decline in …

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