Petrobras is studying how Chevron Corp. managed to resume operations in Venezuela. : Petrobras is studying how Chevron Corp. managed to resume operations in Venezuela to see if it makes sense for Brazil’s state-controlled oil company to reenter the oil-rich nation, Chief Executive Officer Jean Paul Prates said. It makes “geopolitical sense” for Petrobras to look at expanding into Venezuela and Bolivia because they are neighboring countries with vast potential for oil and gas, Prates said in a televised interview late Monday. Prates said he sees potential for natural gas in Bolivia even though output there has been declining.
By Fatima Bahtić Energy major Shell has carried out the first-ever cruise ship liquefied natural gas (LNG) bunkering operation at the Port of Gibraltar. The post Shell carries out Port of Gibraltar’s first cruise ship LNG bunkering appeared first on Offshore Energy. Read Full Article Here For more great articles: LNG World News.
Though there have been signs recently that the US and world economy are slowing, and broader inflation figures may have peaked, energy prices – particularly oil – are ...
Lower European Natural Gas Prices Forecast For Next Summer - Wood Mackenzie (nysearca:ung) | Seeking Alpha
European natural gas prices next summer could be 20% lower than current estimates, due to reduced demand from power plants and plentiful supplies in storage, consultant Wood Mackenzie said Wednesday in a new report. Europe is heading into the colder months with stockpiles above the seasonal norm, and gas use for power has dropped, with renewables gaining market share, nuclear output rising, and economic pressures hurting industrial and residential consumption. "The European gas sector looks set to see a fall in gas demand that will have a knock-on effect for prices next year," Wood Mackenzie said.
Which country produced the most natural gas last year? : According to the Energy Institute’s (EI) first, and the overall 72nd, annual statistical review of world energy, the answer to that question is the United States. The U.S. produced 978.6 billion cubic meters of natural gas last year, which marked a 3.6 percent year on year increase and 24.2 percent of global natural gas production in 2022, the EI review outlined. From 2012 to 2022, natural gas production in the U.S. has grown 4.2 percent year on year, the review revealed.
The deal would see EQT supply Commonwealth's LNG facility in Louisiana. : Commonwealth LNG has entered into a heads of agreement (HOA) with EQT Corp. for one million tons per annum (mtpa) of liquefied natural gas (LNG) under a 15-year tolling agreement, and associated gas supply to Commonwealth LNG's facility in Cameron, Louisiana. Commonwealth expects a final investment decision for the project in the first quarter of 2024, with the first cargo deliveries expected in 2027. The final terms remain subject to negotiation for a definitive agreement between EQT and Commonwealth, the two companies said in separate news releases Monday.
Shale Markets, Llc / Shell Prolongs Aker Solutions’ Work On Natural Gas Facility Serving Norwegian Sea Field
By Melisa Cavcic Aker Solutions has secured a long-term contract extension with Shell for a natural gas processing plant in Norway. The post Shell prolongs Aker Solutions’ work on natural gas facility serving Norwegian Sea field appeared first on Offshore Energy. Read Full Article Here For more great articles: Offshore Energy Today.
On April 20, I wrote an article titled XLE: Be Protected The Next Oil Bull Market Will Be Wild. In that article, I made the case to buy energy stocks to be protected from what could become a raging bull market in energy commodities. Investing in the energy sector has become more challenging due to recent structural changes, which I view as a long-term positive for the industry. There is a high probability that oil prices may surge into the triple-digit territory once demand hits its bottom, thanks to the OPEC cuts and their expectations of stronger-than-anticipated long-term demand.
In the last few days, more attention has been focused on oil market supply tightness, owing to the OPEC-plus production cuts. This supply tightness was coming and known. Additionally, another real variable was whether the U.S. would have a soft landing, but also how the rest of the world was faring with the knock-on effects of central banks raising rates. The pandemic is still causing economic and strategic resets, economically and geopolitically.
China's Enn Natural Gas To Sell Coal Miner For $915M To Focus On Main Business -today At 09:58 Am| Marketscreener
(marketscreener.com) ENN Natural Gas said on Tuesday it will sell its entire stake in its coal mining unit Xinneng Mining Industry for 6.67 billion yuan in a move to enhance the Chinese company's focus on natural gas and optimize its asset structure.https://www.marketscreener.com/quote/index/S-P-GSCI-NATURAL-GAS-INDE-46869167/news/China-s-ENN-Natural-Gas-to-sell-coal-miner-for-915-million-to-focus-on-main-business-44824577/?utm_medium=RSS&utm_content=20230912.