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COMMENTARY: Obscene Misinformation Continues to Come From the IEA – Irina Slav on Energy

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

By Irina Slav More From Irina Slav “Any source of energy is intermittent, but renewables are perhaps the least intermittent, since they use the sun and wind. The crucial missing piece of renewables is the lack of infrastructure.” This profound revelation comes from the head of the International Renewable Energy Agency, Francesco La Camera, and should be …

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U.S. Gas Rig Count Falls to Lowest Since January 2022 – Baker Hughes

Conventional Energy, Drilling Rigs, Energy Topics & Technology, Latest, Natural Gas, Oil, US News / By

U.S. energy firms this week cut the number of natural gas rigs operating to the lowest level since January 2022, energy services firm Baker Hughes said in its closely followed report on Friday. The combined oil and gas rig count, an early indicator of future output, fell by five to 624 in the week to …

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Summit Midstream Partners to Sell Utica Assets to MPLX for $625 Mln

Conventional Energy, Energy Topics & Technology, Latest, Oil, Pipelines / By

(Reuters) – Pipeline operator Summit Midstream Partners said on Friday it would sell its Utica assets to a unit of midstream energy company MPLX LP  for about $625 million in cash. The Marcellus and Utica shale, spread across Pennsylvania, West Virginia and Ohio, are among the regions where U.S. drillers have been cutting the number of gas …

Summit Midstream Partners to Sell Utica Assets to MPLX for $625 Mln Read More »

Ukraine Says Russian Oil Refineries Are Legitimate Targets

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, Refineries / By

(Reuters) – A Ukrainian deputy prime minister said on Friday Russian oil refineries were legitimate targets for its forces, after a media report said the United States, a close ally, had asked Kyiv to stop conducting drone strikes on refineries. Ukraine dramatically stepped up its attacks on Russian energy facilities this month, launching numerous long-range drones to …

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CERAWeek: Oil Demand Outpaces Expectations, Testing Calculus on Peak Crude

Conventional Energy, Latest, Oil, US News / By

Global oil consumption is outpacing expectations this year Oil executives gathered in Houston confident on demand outlook The world is using more oil than ever and demand is outpacing expectations again this year, raising questions about how soon global consumption will peak. The unabated thirst for crude contributed to an increasingly confident tone from executives …

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Oil Traders Expect Stocks to Fall Significantly after OPEC Extends Cuts

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By John Kemp LONDON, March 21 (Reuters) – Global petroleum inventories are only slightly below the long-term seasonal average but futures prices have already moved into a steep backwardation as traders anticipate they will deplete further over the rest of 2024. OECD commercial inventories of crude oil and refined products are estimated to have been around …

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Canada’s Trans Mountain Expansion Startup Date Hangs on Final 2.5-Km Leg

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

Last segment goes through hard rock in rugged B.C. terrain Bloomberg News The startup date for Canada’s mega oil pipeline should be known within weeks as Trans Mountain Corp. drills through hard rock in British Columbia’s rugged Fraser Valley for the final stretch of the 1,150-kilometre conduit. “The next few weeks will be very important in terms …

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U.S. Permit Reviews, Red Tape Provoke Energy Conference Debates

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

U.S. energy permitting delays and the need for streamlined new project reviews dominated conversations among oil and gas executives and lawmakers in meeting rooms and hallways at the CERAWeek energy conference this week. The fossil fuel industry historically has objected to red tape that slows or raises development costs. But the topic has moved higher …

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Ukraine’s Drone Strikes on Russian Oil Refineries Mark New Phase in War

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, Refineries / By

Attacks on refineries have both symbolic and strategic goals Kyiv plans to send ever-increasing swarm of drones into Russia Ukraine’s fight against Russia’s invasion has entered a new phase, pitting homegrown drone technology against a 2,000 kilometer (1,200 mile) swathe of largely Soviet-era oil facilities. At least nine major refineries have been successfully attacked this …

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Oil Retreats From Multi-Month Highs Ahead of Fed Decision

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

Summary Crude falls from multi-month highs Investors await U.S. Federal Reserve interest rate announcement U.S. crude, gasoline stocks fell last week – API LONDON, March 20 (Reuters) – Oil prices edged lower on Wednesday after hitting multi-month highs in the previous session, as investors braced for the U.S. Federal Reserve’s interest rate policy announcement later …

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