Natural Gas Export Projects Hang in the Balance as Biden Mulls Climate Test

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Environmental groups ramp up efforts to oppose LNG terminals. As the Biden administration weighs a tougher climate test for US natural gas export terminals, several projects and tens of billions of dollars in investments are hanging in the balance. Environmentalists are doubling down on efforts to oppose liquefied natural gas terminals seeking government approval, warning they’ll significantly prolong …

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Is Sustainable Aviation Fuel the Answer to Lower Carbon Emissions?

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Credit: Oleg Gapeenko via vecteezy.com The aviation sector is one of the modern world’s most crucial industries. It is also one of the largest contributors to carbon emissions. In 2019, domestic and international passenger flights that took off from the United States emitted 179 million metric tons of the greenhouse gas. This makes the U.S. aviation industry …

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Biden Cites Concern of Impact of War in Middle East on Oil Prices

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(Reuters) – U.S. President Joe Biden said he was concerned about the impact of war in the Middle East on oil prices, which rose on Friday after the U.S. and Britain launched dozens of air strikes across Yemen on Houthi targets. WHY IT’S IMPORTANT Oil rose 1% on Friday as an increasing number of oil tankers diverted …

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Oil Climbs 1% as Tankers Avoid Red Sea After Strikes on Houthis

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Oil prices jump as US, UK strike Houthi targets Summary Some tanker companies halt ships heading to Red Sea China buys record levels of crude oil in 2023 U.S. oil rigs fall by two this week – Baker Hughes Benchmarks close lower for the week HOUSTON, Jan 12 (Reuters) – Oil rose 1% on Friday …

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Oil Consumption and Prices Revert to Trend – John Kemp

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By John Kemp (Reuters) – Global consumption of petroleum and other liquids hit a record high last year and is forecast to increase further in both 2024 and 2025, but that does not necessarily mean prices must rise to ensure demand is met. Worldwide consumption averaged 101.1 million barrels per day (b/d) in 2023, narrowly beating …

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DONE DEAL! Canadian Trans Mountain Oil Pipeline Change Approved by Canadian Regulator

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(Reuters) – The Canada Energy Regulator (CER) on Friday approved a request for a change in construction for the final stretch of the Trans Mountain oil pipeline expansion project, clearing the path for its completion early this year. The C$30.9-billion ($23.05 billion) expansion will nearly triple the flow of crude on Trans Mountain from Alberta …

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U.S. Proposes Fee on Methane from Big Oil and Gas Producers

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The U.S. on Friday proposed a fee on emissions of methane from big oil and gas producers as required under the 2022 climate law and as a backstop to wider regulations on the greenhouse gas from energy operations. The fee, proposed by the Environmental Protection Agency, applies to large oil and gas facilities that report …

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U.S. Drillers cut Oil and Gas Rigs for Second Week in a Row – Baker Hughes

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Jan 12 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row, energy services firm Baker Hughes (BKR.O) said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by two to 619 …

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U.S. Natgas Prices Soar 8% to 10-Week High Ahead of Frigid Cold and Record Demand

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U.S. natural gas futures soared about 8% to a 10-week high on Friday ahead of the long Martin Luther King Day holiday weekend when extreme cold is expected to boost gas demand to record highs while also cutting gas supplies by freezing wells. In recent years, the combination of soaring demand for gas for heating …

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China’s 2023 Crude Oil Imports Hit Record as Fuel Demand Recovers

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Summary 2023 crude imports 11.28 mln bpd, +11% on yr 2023 natgas imports 2nd highest on record; Dec imports at record 2023 refined fuel exports +16.7% on yr (Reuters) – China’s annual crude oil imports hit an all-time high in 2023, customs data showed on Friday, as fuel demand recovered from a pandemic-induced slump despite …

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