Rainfall to Alleviate Wildfire That Blazed Canada Rockies

26 July 2024, 8:00pm
Rainfall is expected to bring some relief to a fast-moving wildfire that ripped through the Rocky Mountain resort town of Jasper.
Read more... (source: www.rigzone.com)

Oil Posts Biggest Weekly Drop Since Early May

26 July 2024, 7:32pm
Oil dipped as algorithmic traders took advantage of market uncertainty, while traders weighed Chinese demand against falling US stockpiles.
Read more... (source: www.rigzone.com)

Henry Hub Prices Crash Back Toward $2

26 July 2024, 3:00pm
Henry Hub natural gas prices have crashed back toward $2 on storage concerns, BofA analysts noted in a BofA Global Research report sent to Rigzone.
Read more... (source: www.rigzone.com)

Republican States Ask US Supreme Court to Save Fossil Fuel Power Plants

26 July 2024, 1:36pm
Twenty-five Republican attorneys-general lodged a joint plea before the Supreme Court for an emergency stay of new power emission rules that they fear may shut down generation plants running on fossil fuels.
Read more... (source: www.rigzone.com)

Petronas, Eni, Japanese Biotech Firm to Build Biorefinery in Malaysia

26 July 2024, 1:13pm
The biorefinery will have the capability to produce sustainable aviation fuel (SAF) and other biofuels such as renewable diesel / hydrogenated vegetable oil (HVO).
Read more... (source: www.rigzone.com)

Wall Street Says a Trump Presidency Could Send Oil Prices Lower

26 July 2024, 1:00pm
A U.S. election victory for former president Donald Trump could send oil prices lower, according to some prominent Wall Street banks.
Read more... (source: www.rigzone.com)

Shell Makes FID on Hydrogen Electrolyzer in Germany

26 July 2024, 12:53pm
Using renewable electricity, REFHYNE II is expected to produce up to 44,000 kilograms per day of renewable hydrogen to partially decarbonize site operations.
Read more... (source: www.rigzone.com)

Argent LNG Taps GTT for Liquefaction Facility in Louisiana

26 July 2024, 12:06pm
Argent LNG is planning a phased development of liquefaction trains at a greenfield site strategically located at Port Fourchon.
Read more... (source: www.rigzone.com)

Equinor Posts Higher Profit on Strong LNG Trading Results

26 July 2024, 11:35am
'Our operational performance continued to be strong through the quarter and we delivered three percent production growth'.
Read more... (source: www.rigzone.com)

How Dangerous Is Extreme Weather for Oil and Gas Companies In 2024?

26 July 2024, 11:30am
Rigzone conducts exclusive interviews with the ex-IPAA Chief Economist, the Manager of Policy and Communications at the IER, and the President of Transversal Consulting to examine the topic.
Read more... (source: www.rigzone.com)

UK Gov Announces 'Unprecedented' GB Energy Partnership

26 July 2024, 9:13am
The partnership 'has the potential to leverage up to GBP 60 billion [$77.1 billion] of private investment into the UK's drive for energy independence', according to the government.
Read more... (source: www.rigzone.com)

Golar Obtains Carbon Intensity Certification for Flare-to-LNG Product

26 July 2024, 6:57am
SCS Global Services has granted an environmental claims validation for a fuel developed by Golar using oil flare emissions.
Read more... (source: www.rigzone.com)

TotalEnergies to Buy Half of OranjeWind to Power Hydrogen Projects

26 July 2024, 6:45am
RWE agreed to farm out a 50 percent stake in a planned 795-MW offshore wind farm in the Netherlands to TotalEnergies, which plans to use its share of the generation to power electrolyzer projects.
Read more... (source: www.rigzone.com)

Saipem H1 Profit Surges

26 July 2024, 6:30am
Saipem reported $128 million in net income for the first half of 2024.
Read more... (source: www.rigzone.com)

Neighbors Face Risk of Power Prices Rising as France Curbs Exports

26 July 2024, 6:30am
French electricity grid limitations will constrain power exports from Monday for more than two months, threatening higher prices in neighboring countries.
Read more... (source: www.rigzone.com)

Harris' Past Anti-Fracking Position Seized Upon by GOP

25 July 2024, 9:00pm
In tweets and campaign memos, Republican are resurfacing Harris' previous anti-fracking stance.
Read more... (source: www.rigzone.com)

Oil Rises Tracking Equity Market Rally

25 July 2024, 7:24pm
Oil prices rose as an equity market rally carried futures prices out of an earlier slump.
Read more... (source: www.rigzone.com)

Europa Oil Raises Prospective Resource Estimate for Equatoguinean Block

25 July 2024, 5:30pm
Europa revised up the estimate for unrisked prospective resources in the EG08 block to 2.1 Tcfe.
Read more... (source: www.rigzone.com)

USA Commercial Crude Oil Inventories Drop by Almost 4MM Barrels WoW

25 July 2024, 2:33pm
Crude oil stocks in the U.S., not including the SPR, were at 436.5 million barrels on July 19, according to the EIA.
Read more... (source: www.rigzone.com)

SLB, Aker BP Partner to Develop AI Platform

25 July 2024, 2:28pm
The partners will transition Aker BP's current application portfolio to the cloud and create one integrated platform for subsurface workflows.
Read more... (source: www.rigzone.com)

Natural gas electricity generation in the United States spiked with July heatwave

25 July 2024, 12:00pm
U.S. power plant operators generated 6.9 million megawatthours (MWh) of electricity from natural gas on a daily basis in the Lower 48 states on July 9, 2024, probably the most in history and certainly since at least January 1, 2019, when we began to collect hourly data about natural gas generation.
Read more... (source: www.eia.gov)

Natural gas storage injections remain below five-year average so far this summer

24 July 2024, 12:00pm
Injections into natural gas storage in the Lower 48 states since April 1 have totaled 950 billion cubic feet (Bcf), according to our July 18 Weekly Natural Gas Storage Report. So far this injection season (April 1–October 31), the amount of natural gas injected into storage (less withdrawals) is 15% (166 Bcf) less than the previous five-year average (2019–23) for the same period and 15% (172 Bcf) less than the same time last year.
Read more... (source: www.eia.gov)

Less natural gas consumption in Europe is keeping storage full

23 July 2024, 12:00pm
Consumption of natural gas in Europe consistently decreased since mid-2022, driven by a combination of mild winter weather and government policies aimed at reducing natural gas consumption. In 2023, natural gas consumption in the European Union's 27 member countries (EU-27) declined 18% from the previous five-year (2017–21) average according to Eurostat data. During the first five months of 2024 (January–May), consumption remained 19% below the 2017–21 average for the same months.
Read more... (source: www.eia.gov)

U.S. wholesale natural gas spot prices fell to record lows in first half 2024

22 July 2024, 1:30pm
The average monthly wholesale spot natural gas price at the U.S. benchmark Henry Hub fell by 20% to $2.56 per million British thermal units (MMBtu) between January and June of this year, according to data from Refinitiv Eikon. In January, the Henry Hub price averaged $3.18/MMBtu, then dropped to $1.49/MMBtu in March, marking the lowest average monthly inflation-adjusted price since at least 1997. In addition, prices from February through April 2024 were the lowest ever recorded for these months.
Read more... (source: www.eia.gov)