Conventional Energy

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Chesapeake CEO Says Biden’s LNG Review Hurts Consumers and U.S. Allies

Conventional Energy, Latest, LNG, US News / By

Biden decision was political, Nick Dell’Osso says in interview One-year pause is ‘meaningful’ for the industry, he says The Biden administration’s pause on new licenses to export liquefied natural gas will hurt consumers, the environment and US allies, according to the head of one of the country’s top gas producers. “It works counter to a number of …

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U.S. Crude Stocks Rise as Oil Refiners Take in Less Oil – EIA

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

NEW YORK, Feb 7 (Reuters) – U.S. crude stocks rose as oil refiners took in less oil, following extreme cold weather that knocked out utilization last month, the Energy Information Administration said on Wednesday. Crude inventories rose by 5.5 million barrels to 427.4 million barrels in the week ended Feb. 2, the EIA said, compared …

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NORD STREAM: What’s Known About the Mystery Pipeline Explosions?

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Pipelines / By

STOCKHOLM, Feb 7 (Reuters) – Sweden announced on Wednesday that it had dropped its investigation into the explosions in 2022 on Nord Stream pipelines carrying Russian gas to Germany and had handed evidence it had uncovered over to German investigators. Here is what we know so far about the blasts, which destroyed three out of four pipelines, …

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Big Oil Offers Record Returns to Lure Investors back

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Summary Sector offered record returns of $111 bln in 2023 Yet profits dropped sharply from 2022’s peak Boards promise discipline, stability amid uncertain outlook (Reuters) – Big Oil firms are handing shareholders more money than ever and are promising more going forward in an attempt to reassure investors of their discipline and resilience in the …

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Sweden Ends Nord Stream Sabotage Probe, Hands Evidence to Germany

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Pipelines / By

Sweden ends Nord Stream sabotage probe, hands evidence to Germany Summary Sweden says no evidence its citizens involved in blasts Plans to hand information it has gathered over to Germany Russia says it is watching to see what Germany does STOCKHOLM, Feb 7 (Reuters) – Sweden on Wednesday dropped its investigation into the explosions in …

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Europe Oil Product Markets Hurting as Red Sea Attacks Delay Deliveries, IEA Exec Says

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

Delays in oil product deliveries due to ships being diverted avoid attacks in the Red Sea are impacting product markets in Europe in particular, an International Energy Agency executive said on Wednesday. “We’re currently seeing a difficult situation with respect to the Red Sea and the Suez canal,” Keisuke Sadamori, IEA’s director of energy markets …

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U.S. Crude Production to Rise to 13.21 Million Bpd in 2024 – EIA

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U.S. crude oil production will rise to 13.21 million barrels per day (bpd) in 2024 the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday, which lowered expectation for U.S. crude growth by 120,000 bpd. The EIA projected that crude production will rise by 170,000 bpd this year; down …

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U.S. Natgas Output and Demand to Hit Record Highs in 2024 – EIA

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

U.S. natural gas production and demand will rise to record highs in 2024, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday. The EIA projected dry gas production will rise to 104.37 billion cubic feet per day (bcfd) in 2024 and 106.46 bcfd in 2025 from a record …

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U.S. Natgas Prices Slide 3% to Nine-Month Low on Rising Output, Lower Demand

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

U.S. natural gas futures slid about 3% to a nine-month low on Tuesday as output slowly rises, the amount of gas flowing to liquefied natural gas (LNG) export plants declines and on forecasts for lower demand this week than previously expected. Prices fell even though the latest forecasts called for colder weather and more heating …

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Tellurian Explores Sale of Upstream Business to Finance Driftwood LNG

Conventional Energy, Latest, LNG, US News / By

Tellurian is exploring the sale of its Haynesville upstream business, the liquefied natural gas (LNG) firm said on Tuesday, as it looks to raise capital for its Driftwood LNG project. The company has been trying to develop a 27.6 million metric-tons-per-annum LNG plant, which has suffered multiple delays, in Lake Charles, Louisiana, and earlier said …

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