OPEC said on Wednesday that cooperation and dialogue within the wider OPEC+ oil producer’s alliance will continue, after OPEC member Angola last month announced it would leave the group. Continued cooperation within the Organization of the Petroleum Exporting Countries and allies such as Russia will benefit “all producers, consumers and investors, as well as the …
Mild weather has curbed demand for heating fuel, pulling down prices by about 35% in a year. In just one year, the US gas market has gone from a meteoric rise to a dizzying decline. You can thank Mother Nature for that. This winter is shaping up to be one of the mildest in years, damping demand for heating fuel and …
A No-Show Winter Is Upending the U.S. Gas Market Read More »
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 »
