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Breaking News:

Houthis Threaten More Red Sea Attacks

Warren Buffett Regrets Owning Electric Utilities

Warren Buffett Regrets Owning Electric Utilities

Buffett recognizes that the US…

Oil Markets Await the Next OPEC+ Announcement

Oil Markets Await the Next OPEC+ Announcement

Oil prices remained rangebound in…

News

China Seeks Cheap Spot LNG Supply as Prices Dip to Three-Year Low

China Seeks Cheap Spot LNG Supply as Prices Dip to Three-Year Low

Feb 22, 2024 at 11:34 | Charles Kennedy

Chinese LNG importers are on the lookout for cheaper supply of liquefied natural gas on the spot market as prices in North Asia have halved from October levels and slid…

Chord Energy and Enerplus Agree to $11 Billion Merger

Chord Energy and Enerplus Agree to $11 Billion Merger

Feb 22, 2024 at 09:18 | Charles Kennedy

In the latest U.S. oil and gas merger, Chord Energy and Enerplus have agreed to combine in an approximately $11 billion stock and cash transaction, which will create a…

UK Quits Treaty Allowing Oil Firms to Sue Governments Over Climate Policy

UK Quits Treaty Allowing Oil Firms to Sue Governments Over Climate Policy

Feb 22, 2024 at 08:20 | Charles Kennedy

The UK will leave the Energy Charter Treaty (ECT), a 1994 pact that allows oil and gas companies to sue governments over their climate policies for compensation for lost profits.…

Colombia May Struggle to Import Venezuelan Natural Gas in 2024

Colombia May Struggle to Import Venezuelan Natural Gas in 2024

Feb 22, 2024 at 07:37 | Tsvetana Paraskova

Colombia’s plan to start importing natural gas from Venezuela this year may not materialize because of a decayed idle pipeline in dire need of repairs, an industry official told 

Cheniere Energy Revenues Slump 39% as Natural Gas Prices Drop

Cheniere Energy Revenues Slump 39% as Natural Gas Prices Drop

Feb 22, 2024 at 06:58 | Tsvetana Paraskova

Cheniere Energy (NYSE: LNG), the biggest U.S. LNG exporter, reported on Thursday a 39% plunge in its revenues for 2023, dragged down by lower natural gas…

India’s Refining Margins Slump as It Struggles to Secure Russian Oil

India’s Refining Margins Slump as It Struggles to Secure Russian Oil

Feb 22, 2024 at 05:05 | Tsvetana Paraskova

Refining margins for India’s biggest state-owned refiners have dropped in recent months amid more difficult access to Russian crude and soaring freight rates due to the Red Sea disruption to…

Suncor Tops Profit Estimate as Oil Sands Production Soars to Record High

Suncor Tops Profit Estimate as Oil Sands Production Soars to Record High

Feb 22, 2024 at 03:47 | Tsvetana Paraskova

Canada’s Suncor Energy beat Q4 quarterly earnings estimates as its oil sands production jumped to an all-time high and total upstream production was the second highest in company history. Suncor…

Oil Majors Oppose Venture Global’s Plans to Delay Its Calcasieu Pass LNG Plant

Oil Majors Oppose Venture Global’s Plans to Delay Its Calcasieu Pass LNG Plant

Feb 22, 2024 at 02:52 | Irina Slav

The three supermajors that are suing Venture Global for breach of LNG delivery contracts have attacked again, asking U.S. regulators to be allowed to voice their position on Venture Global's…

Lower Oil Prices Are Set to Hurt Alberta’s Budget

Lower Oil Prices Are Set to Hurt Alberta’s Budget

Feb 22, 2024 at 01:24 | Charles Kennedy

The Premier of Alberta Danielle Smith has warned that lower oil prices will have an impact on the province’s new budget, forcing some spending cuts. During a televised address on…

U.S. Crude Oil, Gasoline Inventories Boom

U.S. Crude Oil, Gasoline Inventories Boom

Feb 21, 2024 at 15:56 | Julianne Geiger

Crude oil inventories in the United States rose this week, by 7.168 million barrels for the week ending February 16, according to The American Petroleum Institute (API), after analysts predicted…

U.S. Court Ruling Sends Venezuela’s Oil-Backed Bonds into Collapse

U.S. Court Ruling Sends Venezuela’s Oil-Backed Bonds into Collapse

Feb 21, 2024 at 11:57 | Charles Kennedy

A day after a New York court ruling that Venezuelan law would determine the validity of bonds issued by state-run PDVSA oil company, Bloomberg reports that bonds have “collapsed”, slumping…

Armed Group Shuts Down Libya’s Zawiya Refinery

Armed Group Shuts Down Libya’s Zawiya Refinery

Feb 21, 2024 at 11:52 | Charles Kennedy

An armed group has taken control of and shut down Libya’s Al-Zawiya refinery and two oil complexes, demanding unpaid salaries and other benefits, Libya media report.  The armed group, the…

Sri Lanka Pays Partial Oil Debt to Iran with $20M in Ceylon Tea

Sri Lanka Pays Partial Oil Debt to Iran with $20M in Ceylon Tea

Feb 21, 2024 at 10:42 | Charles Kennedy

Sri Lanka has repaid $20 million in oil debt to Iran with tea in a move that Sri Lanka officials say do not violate U.S. sanctions on Iran, Agence France…

Turkish Firm Signs 1 GWh Energy Storage Deal With China’s Harbin

Turkish Firm Signs 1 GWh Energy Storage Deal With China’s Harbin

Feb 21, 2024 at 09:14 | Charles Kennedy

Turkey’s engineering group Kontrolmatik signed on Wednesday an agreement with a Chinese firm to build a wind farm and a 1 GWh energy storage facility in western Turkey, worth more…

Deutsche Bank Sees Brent Oil Price at $88 by the End of 2024

Deutsche Bank Sees Brent Oil Price at $88 by the End of 2024

Feb 21, 2024 at 08:31 | Charles Kennedy

A nearly balanced market in the first half of the year and seasonal strengthening of demand in the second half are set to push the price of Brent…

Canadian Oil and Gas Companies Relinquish All Pacific Coast Permits

Canadian Oil and Gas Companies Relinquish All Pacific Coast Permits

Feb 21, 2024 at 08:11 | Tsvetana Paraskova

Canada is celebrating a milestone as oil and gas companies have now voluntarily relinquished the last remaining permits for oil and gas exploration and development off its Pacific Coast. Canada…

German Natural Gas Giant to Invest Heavily in Hydrogen Infrastructure

German Natural Gas Giant to Invest Heavily in Hydrogen Infrastructure

Feb 21, 2024 at 07:13 | Tsvetana Paraskova

Germany’s state-controlled firm Securing Energy for Europe (Sefe) plans to invest around $540 million (500 million euros) in repurposing some of its underground gas storage sites and gas pipelines into…

EU Okays Additional Sanctions on Russia After Navalny’s Death

EU Okays Additional Sanctions on Russia After Navalny’s Death

Feb 21, 2024 at 06:47 | Tsvetana Paraskova

The European Union on Wednesday agreed in principle on a new, 13th, package of sanctions against Russia for its invasion of Ukraine, days after the death of opposition leader Alexey…

European Natural Gas Demand Tumbles to 10-Year Low

European Natural Gas Demand Tumbles to 10-Year Low

Feb 21, 2024 at 04:59 | Tsvetana Paraskova

Natural gas demand in Europe slumped to a 10-year low last year as consumption has tumbled by 20% since the Russian invasion of Ukraine two years ago, the Institute for…

China’s Coal Expansion Starts to Slow Down

China’s Coal Expansion Starts to Slow Down

Feb 21, 2024 at 03:10 | Charles Kennedy

The growth in coal power generation in China is beginning to slow down as regional authorities seek to redirect investments to low-carbon energy, Bloomberg reports. The report notes…

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