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U.S. natural gas futures jumped about 6% to a three-week high on Monday as producers cut output after prices collapsed to a 3-1/2-year low in recent weeks. Front-month gas futures for April delivery on the New York Mercantile Exchange rose 11.7 cents, or 6.4%, to $1.952 per million British thermal units (mmBtu) at 1:05 p.m. …
U.S. Natgas Prices Jump 6% to 3-week High as Output Drops Read More »
U.S. natural gas producers are curbing their output and spending on drilling activity as an oversupplied market has brought the prices of the commodity down to multi-decade lows. In recent months, gas prices have dropped on near-record output and low heating demand from a mild winter, leaving ample amounts of gas in storage. Below is …
U.S. Natgas Producers Cut Spending, Output to Cope with Low Prices Read More »
By David Fickling David Fickling is a Bloomberg Opinion columnist covering energy and commodities. Previously, he worked for Bloomberg News, the Wall Street Journal and the Financial Times. Think of an iconic image of the petroleum age, and you may well be picturing a fountain of crude spouting hundreds of feet into the air, scattering …
Hydrogen Wildcatters Still Need to Find Their First Gusher Read More »
It was the day before Joe Biden’s inauguration as US president, and the man who would become one of his top diplomats was already plotting how to return the US to an international fight against climate change it had ceded four years earlier. With Covid-19 still raging, John Kerry huddled in a Maryland backyard with at least …
Kerry Bows Out as Man Asked to Repair U.S. Climate Reputation Read More »
Reuters March 4 (Reuters) – TC Energy said on Monday it has agreed to sell Portland Natural Gas Transmission System (PNGTS) to BlackRock for $1.14 billion as part of its ongoing efforts to reduce debt and fund investments. CEO Francois Poirier had said in 2022 the company planned to raise more than C$5 billion ($3.69 billion) through 2023. The …
TC Energy to Sell Portland Natural Gas Transmission System for $1.14 Bln Read More »
(Reuters) – A measure in the U.S. funding legislation unveiled by congressional leaders on Sunday would block China from buying oil from the Strategic Petroleum Reserve. The desire for a hard line on China is one of the few truly bipartisan sentiments in the deeply divided U.S. Congress, and lawmakers have introduced dozens of bills …
U.S. Funding Bill Blocks China From Buying Oil From Strategic Petroleum Reserve Read More »
Summary OPEC+ extend 2.2 mln bpd voluntary oil output cuts through Q2 Russia to cut oil output and exports by another 417,000 bpd Brent spreads widen after OPEC+ announcement LONDON, March 4 (Reuters) – Oil prices were little changed on Monday following the widely expected extension of voluntary output cuts through the middle of the …
Oil Steadies After OPEC+ Extends Output Cuts as Expected Read More »
Pennsylvania governor has singled out energy as growth driver State also created task force to mitigate threats to election Democratic Pennsylvania Governor Josh Shapiro said the Biden administration’s recent halt in liquefied natural gas export licenses should be limited in time, stopping short of outright criticizing a pause that could undermine job creation in a …
Pennsylvania Governor Urges Biden to Keep Natural Gas Export Pause Limited Read More »
(Reuters) – Chevron has indefinitely idled two biodiesel production facilities in the U.S. Midwest, the company confirmed on Friday, citing poor market conditions. The second-largest U.S. oil producer bought biodiesel maker Renewable Energy Group for $3.15 billion in 2022 to expand its renewable fuels production to 100,000 barrels per day by 2030. The deal brought it 10 biodiesel …
Chevron Idles Two U.S. Midwest Biodiesel Plants as Profits Slip Read More »
A month-long closure at Freeport LNG plant in Texas and fewer days in the month pushed February U.S. liquefied natural gas exports 7% lower than in January, preliminary date from financial firm LSEG showed on Friday. The drop followed record shipments last year that propelled the U.S. to the world’s largest exporter, above Qatar and …
U.S. LNG Exports Fall in February on Outage and Fewer Calendar Days Read More »
