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…
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…
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…
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,…
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…
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…
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…
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…
Spurred by high commodity prices, energy production revenues on federal lands surge Energize Weekly, November 16, 2022 Energy production on federal lands and offshore areas in 2022 generated $22 billion for the federal and state governments – the highest in revenues since 2008 and second highest in 39 years, according…
ConocoPhillips records big profits, expects to start work at $8 billion Alaska oil project early next year 11/7/22 ConocoPhillips reported making huge profits in the latest quarter amid growing criticism that oil companies are benefiting as gas prices soar, and as President Joe Biden threatens to pursue a windfall profits…
Eversource CEO fears New England might not have enough natural gas if winter is bitter Oct 29, 2022 The top executive of one of the top energy suppliers in New England fears the region may not have enough power if a severe cold spell hits this winter. Eversource Energy CEO…
War in Ukraine is speeding a global energy transition, hobbling Russian exports, IEA says Energize Weekly, November 2, 2022 Global fossil fuel consumption and greenhouse gas emissions are slowing with oil, coal and natural gas either peaking or reaching a plateau by 2030, according to the International Energy Agency (IEA).…
Global carbon capture capacity set to grow sixfold by 2030, BloombergNEF says Energize Weekly, October 26, 2022 Global carbon capture capacity, with more than $3 billion invested in the technology this year, is set to increase sixfold from current levels by 2030, according to an analysis by energy research firm…
Oil Prices Dip on Report Biden Preparing New Sales From Strategic Petroleum Reserve 10/18/22 Global oil prices moved lower Tuesday amid reports that President Joe Biden is planning to unveil another release of crude from the nation’s emergency reserves in an effort to reduce energy costs heading into the mid-term…
French Refinery Strike Opens Door for More US Exports to Asia October 10, 2022 Asian refiners snapped up at least 12 million barrels of US crude oil in the past two weeks as a strike in France dims demand from one of Europe’s largest buyers. Refiners, mostly from South Korea,…
Threat of recession and drop in oil demand and prices worry Permian producers Energize Weekly, October 5, 2022 Even as oil production rebounds in the Permian Basin, industry executives are worried about a drop in demand due to a recession and remain dogged by rising costs and supply chain problems,…
Goldman Sachs Drops Oil Price Forecast Sep 27, 2022 Goldman Sachs cut its oil price forecast on Tuesday on the deteriorating global economic outlook—although it remained bullish on oil. Goldman said it remained bullish, anticipating that oil prices would likely rise from the current levels given the state of the…
Biden to Release 10MM Oil Barrels Ahead of EU-Russian Ban September 20, 2022 The Department of Energy will offer additional US reserve crude for sale ahead of plans by the European Union to ban most Russian oil in December. The agency will offer 10 million barrels of low-sulfur crude for…
New methane tax more a regulation aimed at curbing emissions than a revenue raiser Energize Weekly, September 14, 2022 A methane tax in the Inflation Reduction Act will likely serve more as a regulation than a revenue raiser, spurring oil and gas operations to cut down on fugitive emissions to…
EQT to Buy Marcellus Gas and Pipeline Assets for $5 Billion September 6, 2022 EQT Corp., the largest US natural gas producer, agreed to acquire a privately held competitor in a $5.2 billion deal to expand holdings in the prolific Marcellus shale. Read more
Eagle Ford Crude Oil Production Still Not On Pre-Pandemic Levels August 30, 2022 Constant increases in the past six months have not yet put Eagle Ford crude oil production on par with pre-pandemic levels, the U.S. Energy Information Administration said. According to the EIA’s latest Drilling Productivity Report, crude oil…
Texas natural gas exports to Mexico hit a record but a regional shortage may loom Energize Weekly, August 24, 2022 West Texas natural gas exports to Mexico reached a record in May, but the combination of growing Mexican exports and new Gulf Coast liquified natural gas (LNG) terminals could leave…
National Grid’s first-of-its-kind renewable energy RFI validates a fossil-free energy strategy for the Northeast August 16, 2022 National Grid has located robust stocks of renewable natural gas (RNG) and hydrogen potentially available for its customers in Massachusetts and New York through the Company’s first-of-its kind Northeast clean energy request for…
USA Drops Rigs August 08, 2022 The U.S. rig count dropped by three week on week, according to Baker Hughes’ latest rotary rig count, which was published on August 5. Read more
Williams CEO Says Robust Natural Gas Demand ‘Driving a Great Pipeline of Growth Opportunities’ August 2, 2022 The chief executive of Williams, a natural gas processing and transportation specialist, said mounting calls for LNG and robust summer cooling demand are driving exceptional activity levels on the Transcontinental Gas Pipe Line…
Analysis: U.S. LNG exports to Europe on track to surpass Biden promise July 26, 2022 When U.S. President Joe Biden promised European leaders in March that he would help secure new supplies of liquefied natural gas to offset shortages from Russia’s invasion of Ukraine, his pledge was greeted with scepticism.…
Q2 oil and gas mergers and acquisitions hit by volatile equity and commodity markets Energize Weekly, July 20, 2022 Oil and gas sector mergers and acquisitions (M&A) buffeted by market volatility slipped in the second quarter of 2022 to $12 billion – an 18 percent decline from the first quarter…
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