Conventional Energy

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US Issues Fresh Guidance to Vessels Transiting Strait of Hormuz as Iran Tensions Simmer

CDN and International News, Conventional Energy, Latest, Oil / By

(Reuters) – The United States issued fresh guidance on Monday to commercial vessels transiting the Strait of Hormuz, a key shipping lane for Middle East oil supplies, as tensions simmered between Washington and Tehran over Iran’s nuclear program. Iran has in the past threatened to close down the Strait of Hormuz, a portion of which …

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Venezuela Boosts Oil Output in Orinoco Belt, Country’s Production Approaches 1 Million bpd, Sources Say

CDN and International News, Conventional Energy, Latest, Oil / By

(Reuters) – Venezuela’s state oil company PDVSA has reversed most of the output cuts it had ordered at its own oilfields and joint ventures in the country’s main crude region, the Orinoco Belt, which has boosted the nation’s total production close to 1 million barrels per day (bpd), sources close to operations said. The Orinoco …

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US Natural Gas Futures Fall More Than 8% on Milder Forecasts

Conventional Energy, Latest, Natural Gas, US News / By

(Reuters) – U.S. natural gas futures fell by more than 8% on Monday on forecasts for milder weather than previously expected for the rest of the month, erasing the previous session’s gains. Gas futures for March delivery on the New York Mercantile Exchange fell 27.7 cents, or 8.1%, to $3.15 per million British thermal units …

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Shell Needs Big Discovery or Deals as Oil, Gas Reserves Dwindle

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Natural Gas, Oil, US News / By

By Shadia Nasralla and Stephanie Kelly Shell reserves at lowest since at least 2013, faces output gap Reserve life 8 years, markedly below Exxon Analysts see need for M&A, exploration success LONDON, Feb 9 (Reuters) – Shell needs an acquisition or exploration breakthrough to make up for an expected production shortage of 350,000-800,000 barrels of …

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Chevron’s Tengiz Oilfield Back to 60% of Usual Output, Two Sources Say

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Oil, US News / By

Tengiz output has recovered to about 550,000 bpd, sources say Full recovery expected by February 23 Kazakhstan’s overall oil production on the rise January fires at power facilities caused prolonged shutdown Kazakhstan’s oil exports declined due to Tengiz outage MOSCOW, Feb 9 (Reuters) – The giant Chevron-led (CVX.N) Tengiz field in Kazakhstan has recovered to …

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US Natural Gas Futures Extend Decline as Forecasts Shift Warmer

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By Sing Yee Ong and Julian Hast US natural gas dropped for a second session on the outlook for warmer temperatures across large parts of the country, likely trimming demand for the heating and power-plant fuel. Futures for March delivery slipped as much as 9.1% to $3.111 per million British thermal units. With much of …

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Expand Energy Announces CEO Departure, Plans Headquarters Move to Houston

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Natural gas producer Expand Energy on Monday announced the departure of CEO Domenic Dell’Osso and also said it plans to relocate its corporate headquarters to Houston from Oklahoma City.The company said Chairman Michael Wichterich would take charge as interim chief. Dell’Osso will serve as an external advisor for a period of time. The company added …

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US Oil Production, Demand Fell to Multi-Month Lows in November, EIA Data Shows

Conventional Energy, Latest, Oil, Shale, US News / By

U.S. oil production fell in November to the lowest since July, while oil demand fell to the lowest since April, data from the Energy Information Administration showed on Friday. Crude oil output fell to 13.78 million bpd in November, down about 82,000 from October’s record high 13.86 million bpd, the EIA data showed. That is …

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Williams Weighs Buying Gas-Producing Assets to Enhance AI Energy Supply to Hyperscalers, Sources Say

Artificial Inteligence, Conventional Energy, Electricity Grid, Energy Topics & Technology, Latest, Natural Gas, US News / By

(Reuters) – Williams Companies is exploring buying natural gas production in the United States, a rare foray for an energy infrastructure operator, as it aims to secure natural gas supplies to support its one-stop-shop offering to hyperscalers and data center clients, three people familiar with the matter said. The Tulsa, Oklahoma-based firm has spent the …

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Oil Servicers Look to Middle East for Growth on Shale Slowdown

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By Emma Sanchez The world’s largest oilfield-service providers are looking to production increases in the Middle East to help offset a slowdown in US shale. That’s one of the big takeaways from comments this week made by executives at Helmerich & Payne Inc. and Patterson-UTI Energy Inc., who pointed to opportunities in countries such as Saudi Arabia to help …

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