Natural Gas

The U.S. Department of Energy announced on Wednesday that it had approved a permit extension for exports of natural gas liquefied from the Golden Pass LNG LLC, a joint venture between QatarEnergy ExxonMobil, which is being built in Texas. The $10 billion Sabine Pass project, currently under construction in Texas, will be able to export LNG to major markets in Asia and Europe with the approval of this extension. Exports could start as soon as this year. The DOE stated that it would become the ninth major export terminal in the United States once built. QatarEnergy holds 70% and ExxonMobil...

MPLX, a midstream company that focuses on expanding its Permian presence, announced Friday that it will purchase the remaining 55% of the BANGL pipeline from affiliates WhiteWater and Diamondback Energy. The deal is worth $715 million. The pipeline sector is booming with deals as companies seek to reduce costs, increase scale, and gain access attractive oil and natural gas producing regions on the U.S. Gulf Coast. The 425-mile BANGL Pipeline transports natural gasliquids from the Permian Basin of Texas to fractionation marketplaces along the Gulf Coast. The pipeline will allow liquids to reach MPLX Gulf Coast fractionation facility, which is...

Expand Energy, a U.S. natural-gas producer, surpassed its fourth-quarter profit expectations on Wednesday after a slight rise in gas prices. The natural gas price rose during the first quarter of this year, reaching a record high. This was due to an increase in gas flow to export plants for liquefied gas. Prices were also boosted by the forecast of continued cold weather in January which increased heating demands. The Oklahoma City company that acquired Southwestern for $7.3 billion and became the largest independent U.S. natural gas producer reported a fourth-quarter production rate of 6.41 billion cubic foot equivalent per day...

Coterra Energy announced Monday that it had beaten Wall Street's fourth-quarter profit estimates and increased its dividend by 5%. The oil and gas company has benefited from a higher production of oil and natural gases liquids (NGLs). U.S. Energy Information Administration (EIA) reported that the oil production of the United States reached a new record in the last quarter, as improved drilling efficiency helped producers pump out more. Houston-based company announced a production increase of 681,500 barrels equivalent per day (boepd) in the fourth quarter, exceeding its high-end outlook of 630,000-660,000 boepd. This was driven by improved well performance and...

On Monday morning the benchmark Dutch gas contract traded in a narrow range, as higher wind speeds reduced gas demand for electricity generation. Meanwhile the market was monitoring updates on the U.S. and Russian talks to end war in Ukraine. LSEG data shows that the benchmark front-month contract for the Dutch TTF hub was nearly flat at 50.75 Euros per megawatt hour, or $15.59/mmBtu by 1004 GMT. Last week, the contract dropped to 49.25 Euros/MWh - its lowest level since 29 January. The British day-ahead contracts fell 1.25 pence to 124.55 pence/therm, while the Dutch contract lost 0.32 euros at...

Kojiro Higachi, the president of Tohoku Electric Power in Japan, said that Tohoku Electric Power should review its LNG procurement strategy if it is to stop buying from Russia. Under a contract that runs for 20 years, the utility will import 420,000 metric tonnes of LNG per year from Russia's Sakhalin-2 Project. Higuchi stated that this accounted for approximately 10% of the LNG produced by his company. He said at a press conference that "we must think about (our future procurement plans) assuming we will eventually stop purchasing from Russia." Later, the company stated that no decision had been made...

American Electric Power, a U.S. utility, posted an increase in its fourth-quarter profits on Thursday as the demand for electricity from commercial customers was boosted by data centers. Big Tech is investing billions of dollars in artificial intelligence and the infrastructure required to develop it. As a result, power utilities are experiencing a massive surge in demand. Bill Fehrman, CEO, said: "In 2024 we saw significant growth in commercial loads, due largely to the economic development of Indiana, Ohio, and Texas." The utility said that it expects retail loads to grow by up to 9% per year over the next...

The U.S. Energy Information Administration's (EIA) Short-Term Energy Outlook Report, released on Tuesday, said that the U.S. production of oil is expected to be higher than previous estimates. However, it did not change its forecast for growth in demand. The EIA now expects U.S. oil production will average 13,59 million barrels per daily (bpd) by 2025. This is up from the previous estimate of 13,55 million bpd. The agency maintained its estimate of U.S. petroleum and liquid fuel consumption at 20.5 millions bpd by 2025. Donald Trump, the president of the United States, has pledged to maximize U.S. production while...

WEC Energy Group announced on Tuesday that its profit had more than doubled during the fourth quarter. The utility was able to achieve this due to lower operating costs and increased revenue. Nearly 4.7 million customers are served by the company in Wisconsin, Illinois Michigan and Minnesota. The power companies will benefit from the rise in electricity usage, which is mainly driven by artificial intelligence and data centers. Also, homes and businesses are increasingly using electricity to heat their homes and for transportation. Energy Information Administration (EIA), a U.S. government agency, expects that power consumption will reach new records in...

China is the largest energy importer in the world, but its purchases of US crude oil, LNG and coal are relatively modest. This reduces the impact of Beijing’s Tuesday move to impose retaliatory duties on the imports of U.S. natural gas, LNG, and coal. China's Finance Ministry announced that, on February 10, it will impose tariffs of up to 15% on the importation of U.S. coal, LNG, and crude oil, as well as some autos and farm equipment. Data from the U.S. Energy Information Administration revealed that Chinese imports of U.S. Crude Oil fell 52% in the first eleven months...

Donald Trump, the U.S. president, said that he expected his administration to implement tariffs on oil and gas by February 18th. It could also reduce the planned tax on some Canadian crude. Refiners in the Midwest of the United States process about 70% of this oil imported by the U.S. Analysts and companies have warned that a tariff on oil imports may lead to a decrease in fuel production at these facilities, and increase costs for consumers. Trump didn't specify a country that would be affected by the new tariffs or give any further details. Trump told reporters at the...

Three sources familiar with this matter have said that the Mexican government wants to accelerate plans to double the strategic storage capacity of natural gas amid concerns that U.S. president Donald Trump may use Mexico's dependency on U.S.-produced gas as a form of leverage. Mexico, as a net natural gas importer, only has a natural gas storage capability of 2.4 days. Two government sources and an industry source both said that the country was looking to increase its capacity of storage to at least five-days' domestic consumption, in places such as salt caverns or depleted fields. Comparatively, France stores natural...

Denmark's energy agency on Tuesday said it had actually approved Nord Stream 2 AG, a system of Russia's. Gazprom, consent to carry out preservation deal with. the Nord Stream 2 gas pipeline in the Baltic Sea, which was. harmed in a series of blasts in 2022. The upkeep work is necessary to decrease ecological. and security threats coming from the pipeline being filled with. seawater and staying gas, the agency stated in a. declaration. The work intends to protect the damaged pipeline by. installing customised plugs at each of the open pipeline ends to. avoid even more gas blow-out and...

Asia's imports of Russian petroleum and melted natural gas are set to log little decreases this year and while coal had a larger drop, there's little evidence that Western sanctions are working well. Russia has actually come to depend on Asia, the world's biggest buyer of energy commodities, to soak up cargoes that are no longer able to be offered to buyers in Europe and elsewhere as an outcome of sanctions positioned against Moscow in the wake of the February 2022 invasion of Ukraine. China and India emerged as major purchasers of Russian crude, coal and LNG after the intrusion,...

Asia's imports of Russian crude oil and melted natural gas are set to log little declines this year and while coal had a bigger drop, there's little evidence that Western sanctions are working well. Russia has concerned depend on Asia, the world's most significant purchaser of energy products, to absorb freights that are no longer able to be sold to buyers in Europe and elsewhere as an outcome of sanctions put against Moscow in the wake of the February 2022 intrusion of Ukraine. China and India became significant buyers of Russian crude, coal and LNG after the invasion, taking freights...

Russian President Vladimir Putin signed a decree on Monday allowing Novatek and its melted natural gas units, along with oil firm Surgutneftegaz, to restrict public disclosure about their services. Russia began keeping some information shortly after its soldiers got in Ukraine in February 2022. Certain oil and gas stats and federal spending plan details are hidden, while banks were purchased to restrict disclosures as Moscow looks for to limit its exposure to Western sanctions. Under Russian stock exchange guidelines, noted companies are generally needed to disclose their financial outcomes, details of big offers and other considerable information. Putin included the...

The CEO of the Kremlin-controlled energy giant Gazprom stated on Thursday that Europe was harming its own commercial sector by artificially damaging demand for gas, as Russian gas exports to the area have shrivelled. Alexei Miller stated there might be gas cost shocks and supply interruption ahead, informing a conference that production was declining greatly in some European market sectors badly affected by gas price volatility. He offered no particular examples. Russian gas supplies to Europe fell sharply after Moscow sent its militaries into Ukraine in February 2022, and much of the deficiency was used up by providers from the...

Russian oil companies have held talks with the federal government on whether companies that do not produce diesel must be banned from exporting it due to the fact that of concern the refiners might be losing aids, Interfax news company reported on Tuesday. Russia is the world's greatest seaborne exporter of diesel, just ahead of the United States, and diesel represents the biggest share of its oil item exports. It enforced a temporary restriction on diesel exports last year and media reports have emerged Russia is considering another ban to try to consist of increasing domestic prices. Interfax, pointing out...

Dutch and British wholesale prices were mainly lower on Monday morning on weak need and higher wind generation however with tensions in the Middle East still a danger. The benchmark front-month agreement at the Dutch TTF hub were down 0.63 euro at 40.20 euros per megawatt hour ( MWh) by 0838 GMT, while the December agreement was 0.23 euro lower at 41.10 euros/MWh, LSEG information revealed. The British day-ahead price was 0.30 pence lower at 97.50 pence per therm. Regional circulation zone need in north-west Europe has reduced due to typical temperatures anticipated to be up by 1.43 degrees Celsius...

The amount of 160 million euros from the proceeds of frozen Russian assets will be allocated to meet Ukraine's immediate humanitarian needs for this winter, European Commission President Ursula von der Leyen said on Thursday. Russia has knocked out about 9 gigawatts (GW) of Ukraine's. energy infrastructure, which von der Leyen stated was the power. equivalent of the three Baltic states. On top of the money injection, the EU will aid with repair work. and additional exports. The International Energy Agency stated on. Thursday that Ukraine might face a shortfall of 6 GW this winter. as peak electricity demand boosts....

Equinor's. secondquarter profits decreased by 4% year on year as natural. gas prices fell, the energy company reported on Wednesday,. although the outcomes still surpassed experts' expectations. The Norwegian oil and gas manufacturer's adjusted revenues. before tax for April-June relieved to $7.48 billion from $7.80. billion a year earlier, beating the $6.96 billion forecasted in a. poll of 22 analysts assembled by Equinor. Our operational performance continued to be strong through. the quarter, CEO Anders Opedal said in a statement. Compared to the very same quarter in 2015, the understood. European piped gas rate reduced due to moderate temperatures and....

A proposal to present a tariff on ammonium nitrate imports has actually pitted chemical market lobby Abiquim versus regional fertilizer mixers and powerful food manufacturers that prefer foreign supplies. The request by Abiquim, still pending before the advancement and trade ministry, highlights wider ramifications of Western sanctions on Russia, which the lobby says ended up boosting exporters in Asia by providing cheap access to gas used as feedstock and fuel to make crop nutrients. Critics of the levy on ammonium nitrate, which is likewise used in explosives, state the tariff would penalize about 90% of domestic intake as Brazil relies...

Russian President Vladimir Putin said throughout a see to Vietnam on Thursday that Russia was keen to partner with the southeast Asian nation in energy and security. Russia, a significant energy, natural deposits and nuclear power, rotated to Asia after the West enforced sanctions on Moscow for the conflict in Ukraine. A day after signing a shared defence arrangement with North Korea, Putin said that Moscow and Hanoi were interested in building what he called a trustworthy security architecture in the Asia-Pacific area. We will also increase the performance of cooperation on these projects in the energy and gas sectors...

The European Commission will introduce tariffs on Ukrainian egg imports into the European Union within the next 2 weeks after a formerly concurred annual threshold for those imports has been reached, a. spokesperson stated on Wednesday. The EU has actually set limits for specific agricultural imports from. Ukraine after free-trade access, approved to help the country's. economy following Russia's invasion in 2022, outraged farmers in. the EU and contributed to a wave of rural protests this year. The commission, the EU's executive arm, revealed on Tuesday. that it would present tariffs on oat imports from Ukraine. after the volume ceiling...