A colder winter and higher demand are projected to lead to higher natural gas prices Energize Weekly, October 16, 2024 Colder weather this coming winter leading to increased demand for natural gas for heating plus continued exports of liquified natural gas (LNG) will put “upward pressure” on natural gas prices,…
U.S. leads world in gasoline, liquefied natural gas, and propane exports, according to EIA Energize Weekly, October 2, 2024 The U.S. was the world’s major exporter of gasoline, propane, and liquefied natural gas (LNG) in 2023 – aided by growing capacity in refineries and LNG terminals, according to the federal…
Brent Crude Tumbles Below $75 a Barrel, Erasing 2024 Gains September 3, 2024 Brent erased its 2024 gains as concerns about demand in the world’s two biggest economies overshadow heightened geopolitical risks. The global benchmark dropped below $75 a barrel and touched the lowest intraday price since December 2023. Read…
Canada has become the main exporter of oil to the U.S. meeting demand from refineries Energize Weekly, August 14, 2024 Canada has become the main source of imported oil for U.S. refineries, accounting for 60 percent of crude imports as of January 2024 – almost doubling its share in 10…
Energy companies win dismissal of Baltimore’s climate change case July 11, 2024 A Maryland judge on Thursday dismissed a lawsuit by the city of Baltimore seeking to hold energy giants such as Exxon Mobil(XOM.N), opens new tab, BP(BP.L), opens new tab and Chevron(CVX.N), opens new tab responsible for climate change,…
Maine’s largest natural gas provider, Unitil, to acquire Bangor Natural Gas Company Jul 9, 2024 The largest provider of natural gas in Maine, Unitil, has agreed to purchase the Bangor Natural Gas Company, the state’s second-largest provider, the Unitil Corporation announced Tuesday. Unitil said it will pay $70.9 million to…
Global oil production to rise while demand falls, putting pressure on prices and investments Energize Weekly, July 10,2024 Increasing global oil production in the face of plateauing demand will put price pressures on producers and challenge the large capital investment the industry is making, according to the International Energy Agency’s…
Record temperatures will increase electricity demand, but not natural gas or coal prices Energize Weekly, June 26, 2024 Record temperatures are set to increase electricity demand this summer, but analyses find that a combination of ample gas storage and more renewable generation will help prevent a spike in natural gas…
City council rejects Power San Diego proposal Jun 10, 2024 The push by a voter initiative to assume control of the power responsibilities of San Diego Gas & Electric collected over 30,000 signatures. This compelled the city council to deliberate on whether San Diego voters would have the opportunity to…
A record hurricane season may pose risks to Gulf oil production, refining and LNG exports Energize Weekly, May 29, 2024 The prospect of a record-breaking hurricane season in 2024 poses risks for U.S. oil and gas production, refining and liquefied natural gas (LNG) exports, according to the federal Energy Information…
New LNG facilities boost U.S. exports even as Biden administration pauses new approvals Energize Weekly, April 24, 2024 Bolstered by new of liquefied natural gas (LNG) export terminals, U.S. natural gas exports are projected to grow more than 25 percent by 2025 to 16.4 billion cubic feet a day, according…
Baltimore bridge collapse likely to pinch coal exports and energy-related imports Energize Weekly, April 4, 2024 The collapse of the Francis Scott Key Bridge, after being hit by a container vessel, has blocked the Port of Baltimore, throttling imports and exports of a wide range of goods, including cars, sugar,…
TC Energy to sell Portland Natural Gas Transmission System for $1.14 bln March 4, 2024 TC Energy (TRP.TO), opens new tab said on Monday it has agreed to sell Portland Natural Gas Transmission System (PNGTS) to a BlackRock-managed fund and Morgan Stanley Infrastructure Partners for $1.14 billion as part of…
Global investment in clean tech and energy transition reached a record $1.8 trillion in 2023 Energize Weekly, February 7, 2024 Global investments in the energy transition from fossil fuels to clean tech climbed 17 percent in 2023 to a record $1.8 trillion, according to a study by the energy research…
Puget Sound Energy says region set new record for electrical demands January 15, 2024 Puget Sound Energy says the region set a new record for demand on the natural gas and electrical systems on Friday. A faulty fiber optic cable temporarily took down one of its gas storage facilities in…
Coordination of Texas electric and natural gas sectors key in dealing with blackouts Energize Weekly, January 10, 2024 Better coordination between the Texas electric and natural gas industries is key to getting individual generating facilities up and running – a so-called blackstart – after a cold-weather blackout, according to a…
Major oil companies atop a cash-flow wave reduce debt, increase shareholder payouts Energize Weekly, December 20, 2023 The world’s five largest oil companies, riding a wave of high energy prices, pulled in $613 billion in cash flow between January 2021 and September 2023, which they used to reduce debt and…
IEA takes aim at oil and gas sector at COP28, industry offers an agreement to cut methane Energize Weekly, December 6, 2023 As the climate conference – COP28 – opened in Dubai, the International Energy Agency (IEA) fired a shot across the bow of the oil industry with an analysis…
Greek shippers exit Russian oil trade as U.S. tightens price cap scrutiny November 23, 2023 Three major Greek shipping firms have stopped transporting Russian oil in recent weeks in order to avoid U.S. sanctions now being imposed on some shipping firms carrying Russian oil, four traders told Reuters and shipping…
Global LNG market stable for this winter, but there will be more volatility down the road Energize Weekly, November 22, 2023 Ample gas inventories in the U.S. and Europe and increased liquified natural gas (LNG) export and import capacity will likely meet global needs this winter, but growing demand over…
US plans to buy 1.2 million barrels of oil for Strategic Petroleum Reserve November 13, 2023 The U.S. plans to buy 1.2 million barrels of oil to help replenish the Strategic Petroleum Reserve after it sold off the largest amount ever last year, the Energy Department said on Monday. The…
Dominion plans large liquified natural gas facility in Person County near Rougemont NOVEMBER 3, 2023 Dominion Energy, the main corporate actor behind the defunct Atlantic Coast Pipeline, plans to build the Moriah Energy Center, two 25-million-gallon liquified natural gas facilities on 485 acres in southeastern Person County, about two miles…
Lower fuel prices to lead to lower winter heating bills for homes using natural gas, propane Energize Weekly, November 1, 2023 Winter heating bills will be lower than last year for homes using natural gas and propane but will be up for those relying on heating oil, according to forecasts…
U.S. sets records for crude oil and natural gas exports in the first six months of 2023 Energize Weekly, October 18, 2023 The U.S. set export records for both oil and natural gas in the first half of 2023, with Europe as the prime destination, according to the federal Energy…
US natgas futures steady on healthy demand, lower supply Sept 25 U.S. natural gas futures steadied on Monday and consolidated gains from the previous session, buoyed by healthy demand and slightly lower output projections, even as the market transitions into the shoulder period for gas demand. Demand for power usually…
Increased U.S. natural gas production in 2023 is boosting LNG and ethane exports Energize Weekly, September 20, 2023 Record U.S. natural gas production in 2023 is leading to a record ethane production and liquified natural gas (LNG) exports, according to the federal Energy Information Administration (EIA). The EIA is forecasting…
California regulators OK gas storage expansion despite risks SEP 5, 2023 California regulators have approved a proposal to vastly increase natural gas storage at the site of the nation’s largest known methane leak, which sickened thousands of families and forced them from their Los Angeles homes in 2015. Despite opposition…
Global temperatures are rising in 2023 and so is worldwide consumption of coal and oil Energize Weekly, August 2, 2023 As the world sizzles, with July the hottest month on Earth since records have been kept, consumption of coal and oil – the two main sources of climate-warming greenhouse gases…
Global oil and gas investment rises even as demand slows risking overcapacity in the sector Energize Weekly, June 21, 2023 Global demand for oil is set to slow in the next five years even as investment in oil industry infrastructure is projected to grow, risking an overcapacity in production, according…
Supermajors are scrubbing their greenhouse gas emissions by offloading dirtier assets Energize Weekly, May 31, 2023 Seven of the world’s “supermajor” oil companies are cleaning up their greenhouse gas emissions in large part by offloading some of the dirtiest assets to small companies who are often poor environmental performers, according…
Republicans ask watchdog to assess US oil reserve management May 08, 2023 Two Republicans on Monday asked a congressional watchdog to assess the Biden administration’s management of the Strategic Petroleum Reserve and audit its modernization program, saying sales from the SPR have undermined U.S. energy security. Senator John Barrasso, ranking…
Oil and gas sector routinely targeted by cyberattackers, experts say April 10, 2023 Cybersecurity experts say they aren’t surprised by the revelation contained within a package of leaked U.S. intelligence documents suggesting Russian-backed hackers successfully gained access to Canada’s natural gas distribution network. They say oil and gas infrastructure in…
Embargoes and price caps send Russian oil searching for new markets in Asia and Africa Energize Weekly, March 22, 2023 Embargoes and price caps on Russian oil and petroleum products are taking a bite out of the country’s exports and revenues, which are down 42 percent year-over-year to $11.6 billion…
Xcel Energy will cut Colorado bills again in April as natural gas costs continue to fall Mar 14, 2023 Xcel Energy is again cutting natural gas costs passed through to consumers starting with April bills, the third price decrease announced in two months, even as a special legislative committee pursues…
War-roiled LNG markets see a major swing to Europe in 2022 and tight supplies in 2023 Energize Weekly, February 22, 2023 The Russian invasion of Ukraine and a pandemic economic hangover has roiled global liquefied natural gas (LNG) markets in ways that could lead to a short-term dearth, but a…
Hydrogen is supplementing natural gas, but critics remain wary FEB 6, 2023 A public utility is experimenting with blending small amounts of carbon-free hydrogen into natural gas lines in some Minnesota homes, but critics argue the procedure remains largely an exercise in hot air. As first reported last week by…
Number of oil and gas mergers and acquisitions hits a 17-year low in Q4 of 2022 Energize Weekly, February 1, 2023 The volume of oil and gas sector mergers and acquisitions fell to a 17-year low in the last quarter of 2022 as deal value for the quarter declined 13…
Biden administration threatens veto of GOP bill restricting strategic oil reserve releases Jan 23, 2023 The Biden administration is threatening to veto Republican-led legislation that would restrict the release of oil from the country’s emergency reserve. “If Congress were to pass H.R. 21, the president would veto it. He will…
US House passes bill to ban US strategic oil reserve sales to China; Senate path unclear 12 Jan 2023 The US House of Representatives advanced legislation Jan. 12 aimed at preventing crude oil from the US Strategic Petroleum Reserve from ending up in China, sending the measure to the Senate…
Why natural gas prices — and bills — are soaring in Southern California JAN. 9, 2023 Southern California Gas Co. and San Diego Gas & Electric have issued stark warnings to customers that their January natural gas bills could double, citing factors for historically high wholesale costs that include sinking…
Colorado co-ops say Xcel Energy mismanaged natural gas supplies during 2021 storm Energize Weekly, January 11, 2023 The fallout from the soaring natural gas prices created by Winter Storm Uri in 2021 continues as four rural Colorado electric cooperatives have filed a complaint with federal regulators saying they were overcharged…
To replace Russian gas, Europe builds more LNG capacity and boosts U.S. imports Energize Weekly, January 4, 2023 In the dash to replace Russian natural gas supplies, liquefied natural gas (LNG) import capacity in the European Union (EU) and the United Kingdom (UK) is set to expand by a third…
US to Become Net Exporter of Crude Oil in 2023 19 December 2022 The United States has become a global crude oil exporting power over the last few years, but exports have not exceeded its imports since World War II. That could change next year. Sales of U.S. crude to…
High gas prices, energy security concerns make capturing fugitive and flared gas profitable Energize Weekly, December 21, 2022 The combination of higher natural gas prices and geopolitical concerns about energy security is making the capture and commercialization of fugitive and flared emissions economically viable around the world, according to a…
Keystone pipeline has now leaked more oil in the US than any other since 2010: report 12/12/22 On the heels of another spill last week, the massive Keystone pipeline has now leaked more oil than any other pipeline since 2010, according to a new report from Bloomberg. With more than…
Deepwater oil and gas production set to grow 60 percent by 2030 hitting 17 million BOE/D Energize Weekly, December 7, 2022 Deepwater oil and gas production is set to increase more than 60 percent between 2022 and 2030, reaching 17 million barrels oil equivalent per day (BOE/D) – equal to…
Interior Department finalizes plans for sale of oil and gas leases off coast of Alaska November 28, 2022 The Interior Department announced final steps to carry out an oil and gas lease sale off Alaska’s coast, just the second such offshore lease sale of President Joe Biden ‘s tenure. The…
US offshore oil and gas rigs at ‘significant’ risk of cyberattacks, warns government watchdog November 22, 2022 U.S. offshore oil and gas infrastructure faces “significant and increasing” cybersecurity risks that require “urgent” attention, a U.S. government’s watchdog has warned. The Government Accountability Office said in a new report that the…
U.S. grid faces “unprecedented” risk of electricity shortfalls this winter, NERC warns Energize Weekly, November 23, 2022 A large swatch of the U.S. electricity grid – in Texas, the Midwest, Southeast and New England – is at risk of being unable to provide adequate power in the face of extreme…
Equinor Leads the Way in Adoption of Low-emission Offshore Drilling Rigs, Westwood Says November 15, 2022 The availability of emission-lowering upgrades for offshore rigs has been on the rise, but adoption of these new technologies is slow outside of Norway and the US Gulf of Mexico due to limited regulatory…
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