Energy Alert: "producers To Take Extra Precautions Under Texas First Purchaser Statute" | Porter Hedges Llp
In consideration of the recent decline in oil prices and more widespread concerns throughout domestic and global markets related to the spread of COVID-19, oil and gas producers should review their marketing arrangements to ensure that they are...By: Porter Hedges LLP.
Oil prices crumbled as the pandemic slashed global fuel consumption, with further pressure from a supply shock due to the end of production cuts from OPEC producers and Russia.
Closing prices for crude oil, gold and other commodities, and foreign exchange levels. : Benchmark crude oil fell 17 cents to settle at $20.31 a barrel Wednesday. Brent crude oil, the international standard, fell $1.61 to close at $24.74 a barrel. Wholesale gasoline fell 5 cents to 55 cents a gallon. Heating oil fell 7 cents to 93 cents a gallon. Natural gas dropped 5 cents to $1.59 per 1,000 cubic feet. Gold fell $5.20 to $1,591.40 an ounce, silver dropped 17 cents to $13.98 an ounce and copper lost 5 cents to $2.17 a pound.
'we Are The Verge Of A Massive Collapse': Ex-energy Secretary Perry Says Covid-19 Will Ravage Oil Industry
"I'm telling you, we are on the verge of a massive collapse," Perry said of the impact the plunge in oil prices could have on U.S. operators.
'we Are The Verge Of A Massive Collapse': Ex-energy Secretary Perry Says Covid-19 Will Ravage Oil Industry - News - Middletown, Ny
Former Energy Secretary Rick Perry believes that the oil industry could collapse because of the dramatic decrease in demand worldwide caused by the coronavirus outbreak. "Our capacity is full. The Saudis are flooding this market with with cheap oil," Perry told Fox News Tucker Carlson on Tuesday night. "I'm telling you, we are on the verge of a massive collapse of an industry that we worked awfully hard, over the course of the last three or four years, [...]
TC Energy Corp on Tuesday said it would proceed with its $8 billion Keystone XL pipeline with financial backing from the oil-rich province of Alberta, pushing the long-delayed project forward amid a global oil market collapse.
U.s. Produced Crude Oil Targeted For First Purchase For The Strategic Petroleum Reserves | King & Spalding
Amid current low oil prices, there may be one bright spot for U.S. producers. On Friday, March 13, President Trump announced he has directed the U.S. Department of Energy (the "DOE") to begin purchasing oil for the Strategic Petroleum Reserves (the...By: King & Spalding.
Keystone Xl Pipeline Will Go Ahead, Tc Energy Says, As Oil Prices Hit Multi-year Lows | Huffpost Canada
CALGARY -- TC Energy Corp. gave the go ahead for construction of its US$8-billion Keystone XL Pipeline project on Tuesday, with a helping hand from the Alberta government.The company said Alberta has agreed to invest approximately US$1.1 billion as equity in the project, which substantially covers planned construction costs through the end of 2020.The remaining US$6.9 billion is expected to be funded through a combination of a US$4.2-billion project level credit facility to be fully guaranteed by the Alberta government and a US$2.7-billion investment by TC Energy.Watch: The oil price collapse could signal a huge deflationary shock to the economy.
These are the top 10 Canadian oil & gas companies ranked by 12-month trailing revenue. : The oil and gas industry in Canada, as in other regions, is generally divided into three main segments: upstream, midstream, and downstream. Upstream companies engage in the exploration and production (E&P) of crude oil and natural gas, which entails searching for oil below the ground and drilling wells in order to access those reserves.
The growing mismatch between Germany's renewables capacity and the strength of its electricity network is leading to curtailment, crazy pricing and challenges for neighboring nations. Although Germany is generating record amounts of clean energy in the north, its grid is too weak to transport all the power down to load centers in the south -- a longstanding challenge for the country that's only getting worse. One of the most visible effects of this renewable energy saturation on the German grid is negative wholesale electricity prices, or times when consumers are effectively being paid to use excess power.