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A top U.S. Energy Department official will testify at Feb. 8 Senate Energy Committee hearing looking into President Joe Biden’s pause on new approvals for liquefied natural gas (LNG) exports, the Energy Department said on Thursday. Biden paused the approvals last week so his administration can look into the environmental and economic impacts of the …
U.S. natural gas futures on Thursday held near a nine-month low on forecasts for the weather to remain warmer than normal through at least the middle of February, keeping heating demand for the fuel low. That lack of price movement occurred despite a bullish drop in output so far this week and forecasts for more …
U.S. Natgas Prices Hold Near 9-Month Low on Mild Weather Forecasts Read More »
U.S. oil and gas drilling has slowed in response to the fall in prices over the last 18 months, but that has not yet translated into slower production, keeping prices under pressure. Exploration and production firms have continued to increase output despite drilling fewer wells, by concentrating on the best sites, accelerating drilling times and …
Rising U.S. Oil Production Frustrates OPEC+ Cuts: John Kemp Read More »
The US House of Representatives will vote on overturning the Biden administration’s freeze on liquefied natural gas export approvals, a top Republican said Wednesday. The vote will take place the week after next, Representative Cathy McMorris Rodgers, who chairs the House Energy and Commerce Committee, said during an interview. The White House announced Friday it was halting approval of new …
Energy and Politics: House to Vote on Reversing Biden’s Natural Gas-Export Freeze Read More »
Summary OPEC+ meeting keeps 2.2 mln bpd cuts -sources China reveals support measures after Evergrande liquidation Energy market remains ‘on edge’ over Middle East -analyst LONDON, Feb 1 (Reuters) – Oil prices edged higher on Thursday, boosted by the U.S. Federal Reserve signalling a possible start to interest rate cuts. There was limited immediate price …
Oil Buoyed by U.S. signals on Interest Rate Cuts Read More »
(Reuters) – United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-polluting power fuel, data from ship-tracking firm Kpler shows. The thermal coal export earnings were the second-highest since 2017, following 2022’s $5.7 billion. The total volumes were the …
U.S. Thermal Coal Exports Hit 5-Year Highs and Top $5 billion in 2023 Read More »
Summary Earnings drop by 30% from 2022 Lower energy prices, refining margins weigh Strong LNG trading boost Q4 2023 results Shell writes down $5.5 bln in quarter LONDON, Feb 1 (Reuters) – Shell on Thursday reported a 2023 profit of $28 billion, a 30% drop from the previous year’s record as energy prices and demand …
Shell Posts $28 Billion 2023 profit, Boosts Dividend Read More »
U.S. crude production in November rose 0.6% to a new monthly record of 13.31 million barrels per day, as output in Texas and New Mexico notched records as well, the Energy Information Administration said on Wednesday. Crude production in Texas rose by 1.4% to 5.66 million bpd, a monthly record, while crude output in New …
U.S. Crude Production in November Rose to Monthly Record – EIA Read More »
Courtesy of Tulsa World In a sequel that absolutely no one wanted, the Osage Nation – whose fight in the 1900s over mineral land rights was depicted in the movie Killers of the Flower Moon – once again finds itself in the middle of a legal battle over energy rights a century later. This time, it’s all …
Reuters (Reuters) – Phillips 66 said it has shut a section of a natural gas pipeline it operates in the Oklahoma Panhandle after fire and rupture that occurred on Tuesday morning. The company said it is responding to the rupture and fire, while it has not yet determined the cause of the incident. “There have …
Phillips 66 Shuts Section of Oklahoma Panhandle Pipeline After Fire Read More »
