US auctions drilling rights in Alaska Reserve on March 9
On Thursday, the Trump administration announced that it would sell oil and gas?drilling?rights across 5.5 millions acres of Alaska’s National?Petroleum Reserve. This sale is?the first in a series of at least…
Shell misses profit expectations, but keeps buyback pace
Shell's fourth-quarter profits missed expectations on Thursday, with an 11% decline to the lowest levels since early 2021 due to lower oil prices. However, it kept its massive share buyback program. Oil majors are used to large buybacks.
Equinor sold around 30% of its US Gas on the spot market during January's price spike
Equinor, a Norwegian company, sold 30% of its U.S. natural gas assets in January on a'spot basis,' capitalizing on a chilly snap which boosted demand and prices. A January Arctic blast sent U.S. heat demand skyrocketing and frozen oil and gas wells.
German wind energy supply expected to plummet Wednesday
The French baseload contract fell on Tuesday due to the anticipated return of two reactors. However, the German contract is expected to increase because there will be a decrease in wind power. LSEG data shows…
Libya plans to increase gas exports to Europe before 2030
Massoud Suleman, Chairman of the National Oil Corporation said that Libya will increase its natural gas production in the next five to ten years to?have a greater supply available to export to Europe before early 2030.
Libya plans to increase gas exports to Europe before 2030
Massoud Suleman, Chairman of the National Oil Corporation, said that Libya intends to?boost? its natural gas production over the next five to six years in order to increase supply to Europe before early 2030.
Germany's gas production in numbers
Katherina Reiche, Germany's Economy minister is in Saudi Arabia seeking closer ties with the country on energy. Berlin is looking to diversify this sector as its dependence on U.S. Liquefied Natural Gas grows. Why is?GAS Supply a Problem in Germany?
Baker Hughes reports that US drillers added oil and gas rigs in the US for the second consecutive week.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and natural gas rigs this week for a second consecutive week for the first since December. The number of oil and gas drilling rigs…
US crude production still down by 500,000 barrels per day (bpd) from winter storm, according to consultancy estimates
According to Energy Aspects consultancy, around half a million barrels of crude oil per day or 0.5% of the global supply was offline in the United States on Thursday as an Arctic blast gripped large areas…
US natgas prices soar by 140% in the Arctic storm, increasing consumer costs
U.S. Natural Gas?Futures have jumped 140% in the last seven trading days. Cash gas and power prices also hit record highs this week, as an Arctic blast sent heating demands soaring, and frozen?oil?and?gas wells cut gas production to a 2-year low.
Prices for gas in Europe are on the rise amid low storage levels
The benchmark British and Dutch wholesale gasoline prices increased on Thursday morning, as the market was supported by concerns about Europe's low storage levels and cold temperatures. LSEG data shows that…
US crude and natural gas production recovers after winter storms ravage output
U.S. crude and?natural-gas producers brought wells online on Wednesday following a severe storm that swept across the country at the weekend. The storm strained energy infrastructure and power systems. According to Energy Aspects consultancy…
Benchmark European Gas Prices Follow Lower US Market
The Dutch and British wholesale prices of gas fell on Tuesday, reversing gains made earlier and following the declines in the United States. Prices fell about 13% after production began to recover from the recent winter storm.
US Northeast spot natgas, power and electricity prices reach record highs due to Arctic blast that boosts heating demand and freezes gaswells
U.S. spot gas and power prices soared in the northeastern region of the country as homes and businesses turned up their heaters. The cold Arctic air had frozen oil and gas wells, and pipes this week. This…
US energy sector reels as winter storm knocks 2 million bpd crude production
Analysts and traders estimate that U.S. producers lost as much as 2 million barrels per day or 15% of their production during the weekend. This was due to a winter storm which ravaged the nation, straining the?energy grids and infrastructure.
US energy sector reels as winter storm knocks 2 million bpd crude production
Analysts and traders estimate that U.S. producers of oil lost up to two million barrels per day, or about 15% of the nation's production, over the weekend as a winter storm swept through the country, straining…
US natgas Futures Soar 89% in Five Days as Freezing Wells Cut Output to Two-Year Low
U.S. Natural Gas Futures rose by an unprecedented 89% in a period of?five days, reaching a three-year-high on Monday. This was after a weekend Arctic blast froze oil and gas wells. The result? A two-year-low gas production on Sunday.
EUROPE GAS Prices Hit Multi-Month Highs Due to US Winter Storm and Storage Concerns
Dutch and British gas contract prices rose Monday morning to their highest level in nearly 10 months as the freezing weather in the U.S. curbed LNG exports. This also raised concerns about?European gas storage levels.
Darwin LNG begins shipments on the Kool Blizzard with its first cargo
Ship-tracking data revealed that the Darwin liquefied gas plant (DLNG), operated by Australian oil producer?Santos since restarting operations, had exported its first shipment. The shipment is currently heading to Sakai in Japan.
The US Electric Grid is stressed by the cold weather
Electric grid operators in the U.S. took extra precautions on Saturday to avoid rotating blackouts, as frigid temperatures hit half of America's population. The PJM Interconnection – the largest?U.S. The PJM Interconnection…