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…
Analysts and state regulators say that US crude production will fall due to cold weather.
Energy Aspects reported that state regulators and analysts?said? on Friday that U.S. crude production is expected to'slip' as cold weather forces operators to shut down?production? in key-producing areas.
Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 3 weeks.
Baker Hughes, an energy services company, said in a closely-followed report published on Friday that U.S. firms added oil and gas rigs this week for the first time since three weeks. The number of oil and gas drilling rigs…
Shell Nigeria announces progress on $20 billion Bonga South West Oilfield
Bola Tinubu, Nigeria's President, has approved "investment linked" incentives for Shell’s Bonga South West Deepwater Oilfield. This follows a meeting between the CEO of the company Wael Sawan and the Nigerian president.
China's crude and gas production, refinery throughput in 2025 will reach new heights
Government data released on Monday showed that China's crude oil production and refinery throughput will both reach new highs in 2025, with crude oil growth of 1.5% and 4.1% respectively. National Bureau of…
Zelenskiy, the Ukrainian Zelenskiy, orders faster imports for electricity and power equipment
Volodymyr Zelenskiy, the president of Ukraine, said that he has ordered imports to be as fast as possible. This is because Ukraine is facing its worst energy crisis since World War II. The government declared…
Ambani's Reliance missed profit forecast due to higher expenses and oil and gas drag
Mukesh Ambani, the Indian billionaire who owns Reliance Industries, missed its quarterly profit estimates on Friday due to higher expenses and a weak performance in its oil and natural gas segment. The unit's…
Globe and Mail reports that Canadian Natural is in negotiations to purchase Tourmaline's Natgas portfolio.
Canadian Natural Resources has entered into negotiations to buy a portfolio of natural gas properties worth more than $1 billion from Tourmaline Oil Corp., the Globe and Mail reported Wednesday. The report…
BP warns of up to $5 billion in impairments due to energy transition and weak oil trading
BP said that it expects to book between $4 and $5 billion of impairments during the fourth quarter. These are mainly related its energy transformation businesses. It also noted a weak oil trading. Under the new leadership…
EIA: US natgas production to reach record highs in 2026 while demand declines
The U.S. Energy Information Administration said Tuesday that the U.S. Natural Gas output will reach a record high by 2026 while demand is expected to decline. EIA predicted dry gas production would rise from…
Norway awards 57 drilling licenses in offshore oil and gas exploration round
Norway's Energy Minister told an industry conference that the country awarded shares in 57 offshore oil exploration licenses to 19 companies as part of its annual licensing round. The number of permits awarded…
Ghana pays $1.47 billion to settle energy debts
Ghana's Finance Ministry announced on Monday that the government will pay $1.47 billion to settle legacy energy sector debts in 2025, including restoring a depleted World Bank guarantee, and paying arrears to power producers. Ghana's?sector of power?
Baker Hughes reports that US drillers have cut back on oil and gas drilling for the first time in 3 weeks.
Baker Hughes, a closely watched energy services firm, said that U.S. firms have cut back on the number of oil rigs and natural gas rigs operating for the first time since three weeks. The number of oil and gas drilling rigs…
Malaysia increases gas-fired electricity use in December, as coal dependence falls
Grid operator data shows that Malaysia increased its natural gas-fired electricity generation in December and reduced its reliance on coal. The rising production helped to boost local supply, and also expanded liquefied gas exports.
Shell purchases stakes in offshore blocks in Angola from Chevron
Shell announced on Tuesday that it has reached an agreement with Chevron to purchase a stake in two offshore blocks in ultra-deep water offshore Angola. European oil companies have announced that they will invest billions of dollars in Angola.