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Europe Braces for Rising Gas Demand after Price Volatility Hits 2021 Low

OilPrice

So far in July, European natural gas markets have seen the lowest volatility in prices since 2021, but as summer temperatures peak in the coming weeks, demand is expected to rise, and so will the benchmark gas prices.

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US oil/gas rig count falls for fourth month to Oct 2021 low, Baker Hughes says

BOE Report

energy firms cut the number of oil and natural gas rigs operating for a fourth month in a row to the lowest since October 2021, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by seven to [Read more]

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TotalEnergies Warns of Looming Oil Glut

OilPrice

TotalEnergies (NYSE: TTE) reported on Thursday its weakest adjusted net income for a quarter since 2021, hit by lower oil and gas prices, and warned of a coming oil glut in an unstable macroeconomic and geopolitical environment. The French supermajor booked an adjusted net income of $3.6

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US oil/gas rig count down for 11th week to lowest since 2021, Baker Hughes says

BOE Report

energy firms this week cut the number of oil and natural gas rigs operating for an 11th week in a row for the first time since July 2020 when the COVID-19 pandemic cut demand for the fuel, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas [Read more]

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US drillers cut oil/gas rigs for 7th week to lowest since 2021, Baker Hughes says

BOE Report

energy firms this week cut the number of oil and natural gas rigs operating for a seventh week in a row to the lowest since November 2021, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by [Read more]

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TotalEnergies moves to restart work on $20 billion Mozambique LNG, sources say

Oil & Gas 360º

(World Oil) – Companies hired by TotalEnergies SE to build a $20 billion gas project in northern Mozambique have started preparing to resume work on the venture, four years after it was suspended because of a militant insurgency, according to people familiar with the matter.

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US natgas end-of-season storage seen at three-year low in October

Oil & Gas 360º

natural gas storage is on track to end the April-October summer injection season at a three-year low of 3.797 trillion cubic feet (tcf) on October 31, 2025, according to analysts’ estimates. (BOE Report) – U.S.