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 …
U.S. Seeks 3 Mln barrels of Crude for Strategic Reserve Read More »
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 …
U.S. Natgas Prices Gain 2% to One-Week High on Colder January Forecasts Read More »
(Reuters) – OPEC+ plans to hold a meeting of its Joint Ministerial Monitoring Committee (JMMC) in early February, though an exact date has not been decided, three sources from the alliance said. OPEC+, which comprises the Organization of the Petroleum Exporting Countries and allies led by Russia, usually holds such meetings every two months to …
OPEC+ Set to Hold Monitoring Meeting in Early February Read More »
U.S. liquefied natural gas exports hit monthly and annual record highs in December, tanker tracking data showed, with analysts saying it positioned the United States to leapfrog Qatar and Australia to become the largest exporter of LNG in 2023. The U.S. was the stand out in global LNG supply growth in 2023, said Alex Munton, …
U.S. Was Top LNG Exporter in 2023 as Hit Record Levels Read More »
German utility RWE on Jan. 1 handed over floating liquefied natural gas (LNG) infrastructure at Brunsbuettel on the North Sea to state-owned Deutsche Energy Terminal (DET) as agreed when first imports arrived 10 months ago, it said. DET is now the sole operational manager and markets the capacity of the Brunsbuettel Elbehafen LNG project. Germany’s …
Chevron said on Tuesday it would record an impairment to a portion of its U.S. upstream assets, primarily in California, and take losses related to oil and gas production assets sold in the U.S. Gulf of Mexico. The oil major, in a filing, said it expects to take non-cash, after-tax charges of $3.5 billion-$4 billion in …
Chevron to Take up to $4 Bln Impairment Hit in Q4 Read More »
This year climate change will be part of almost every major story from elections to natural disasters. After a year of record heat, climate change has become a critical issue for countries worldwide. And still, headwinds from rising interest rates to political debates over environmentally-focused investing have made tackling global warming more difficult. Indeed, a study last year found that …
(Reuters) – Natural gas supplies to Europe by Russian energy giant Gazprom (GAZP.MM) were down 55.6% to 28.3 billion cubic metres (bcm) in 2023, Reuters calculations showed on Tuesday. The calculations, based on data from the European gas transmission group Entsog and Gazprom’s daily reports on gas transit via Ukraine, showed that average daily pipeline exports …
Russian Pipeline Gas Exports to Europe Down 56% in 2023 – Reuters Calculations Read More »
Canadian Press OTTAWA — Canada’s price on pollution is supposed to help battle global warming, but as it nears its fifth anniversary, nothing in Canadian politics is hotter. Conservative Leader Pierre Poilievre has so successfully convinced Canadians the carbon price is to blame for inflation that he even earned begrudging respect for his “axe the …
Canada’s Heated Political Conflict Over Carbon Pricing Will Continue into 2024 Read More »
(Reuters) – U.S. energy giant ExxonMobil Corp (XOM.N) has formally exited the West Qurna 1 oilfield in southern Iraq and handed over its operations to PetroChina as lead contractor, a deputy oil minister told Reuters on Monday. Senior Iraqi oil officials met with executives from ExxonMobil, PetroChina and Basra Oil Co on Monday at the West …
ExxonMobil Hands Over Operations at West Qurna 1 Oilfield to PetroChina Read More »
