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Oilfield service companies and drillers have put the brakes on hiring and further job cuts could loom as natural gas producers respond to sliding prices by slashing spending on new wells to reduce excess production. Already some 4,680 oilfield jobs have been lost since December, according to data from trade group Energy Workforce & Technology …
U.S. Oilfield Job Losses Could Swell as Natural Gas Prices Plunge Read More »
U.S. natural gas futures fell more than 3% on Thursday as investors awaited a weekly storage report and booked profits following a rally in the previous session spurred by Chesapeake Energy’s decision to cut its planned output for 2024. Front-month gas futures fell 5.4 cents, or 3.1% at $1.719 per million British thermal units at …
U.S. Natgas Rally Cools as Investors Await Storage Report Read More »
Efforts to fight global warming are stronger now than the first time the former president attacked them, but he could still do significant damage from the White House. A second Donald Trump presidency would be a nightmare for Earth’s climate (among other things). But in the same way your immune system builds up defenses after …
Opinion: Trump’s Plans for a Second Term Could Be Disastrous for Climate Change Read More »
(Reuters) – Three of Venture Global LNG’s major customers have asked U.S. energy regulators to address the LNG developer’s request for a one-year permit extension to complete a Louisiana export facility, signaling their intention to voice concerns. The LNG developer last week asked for a one-year extension to complete its Calcasieu Pass gas-export plant, or …
Venture Global LNG Customers Challenge Permit Extension Request Read More »
Reuters (Reuters) – U.S. liquefied natural gas (LNG) company Cheniere Energy posted a 38.5% fall in its full-year LNG revenue on Thursday, hurt by a fall in natgas prices. Average U.S. natural gas prices fell nearly 40% in 2023, dragged by record production, ample inventories in storage and relatively mild weather conditions, pressuring prices for LNG …
Cheniere Energy’s Annual LNG Revenue Falls on Lower Natgas Prices Read More »
(Reuters) – Oil prices rose for a second day on Thursday, buoyed by a softer dollar and another attack on shipping near Yemen. Brent crude futures rose 35 cents, or 0.4%, to $83.38 a barrel at 1036 GMT. U.S. West Texas Intermediate crude futures climbed 37 cents, or 0.5%, to $78.28 a barrel. The dollar …
BP Plc plans to return its 435,000 barrel-per-day Whiting, Indiana refinery, the largest in the U.S. Midwest, to full production in March, said people familiar with plant operations on Wednesday. BP plans to begin restarting the refinery in the last week of February and bring refinery production to full in March, the sources said. A …
BP Plans Return of Whiting, Indiana Refinery in March, Sources Say Read More »
Enhanced Operating Scale to Drive Returns and Free Cash Flow; Combined Acreage Position Totaling 1.3 Million Net Acres and Combined 4Q23 Production of 287,000 Boepd Combined Company has Approximately 10 years of Low-Breakeven Inventory with Significant Opportunity to Enhance Returns through Efficiencies and Expanding Three-Mile Lateral Opportunities Transaction Accretive to Key Metrics While Preserving Low Leverage; …
Oil producers in the Western Hemisphere have captured all the increase in global oil consumption over the last decade, reversing the previous trend towards production becoming concentrated in the Eastern Hemisphere. With consumption growth increasingly focused on the Eastern Hemisphere, the predominant east-to-west flow of crude oil and refined products across the oceans has been reversed, transforming …
Western Hemisphere Oil Output Surges, With a Helping Hand From OPEC – John Kemp Read More »
U.S. natural gas futures soared by about 10% on Wednesday after Chesapeake Energy – soon to be the biggest U.S. gas producer after its merger with Southwestern Energy – cut the amount of gas it plans to produce in 2024 due to the recent plunge in gas prices to a 3-1/2-year low. See Chesapeake press …
U.S. Natgas Prices Soar 10% From 3-1/2-year Low as Chesapeake Cuts Output Read More »
