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OPEC+ never fails to surprise speculators and market analysts. This weekend’s meeting to decide August production levels was expected to be a short routine video call to announce another output hike of 411,000 barrels per day (bpd). Short it was, but the size of the increase for August was bigger than expected— 548,000 bpd. The eight OPEC+ members that are unwinding the cuts are expected to make another supersized increase in September, with which the 2.
Chesapeake Utilities Corporation, not to be confused with the former Chesapeake Energy Corporation (which is now Expand Energy), announced that its Ohio subsidiary, Aspire Energy Express, LLC, has entered into an agreement with American Electric Power (AEP) to construct and operate an intrastate natural gas pipeline in central Ohio to feed Marcellus/Utica gas to a.
In late June the Energy Institute (EI) released the 2025 Statistical Review of World Energy, which was published previously for more than 70 years by BP. Here is the link to the full 2025 Statistical Review of World Energy. The Review confirmed that a troubling trend continues. Despite historic investments in renewables and net-zero pledges from nearly every major economy, global carbon emissions hit a record high in 2024.
The EU natural gas market in late 2025 is expected to face tight supply due to lost Russian pipeline gas, low storage, LNG competition from Asia, and possibly higher gas demand that expected if renewables do not deliver. Prices are expected to increase, potentially exceeding €45/MWh under certain scenarios, especially if hurricanes disrupt LNG shipments from the Gulf of America Share Strong injection demand persisted across Europe in June, as storage operators accelerated refill efforts fo
Nuclear microreactors developed separately by Westinghouse and Radiant are poised to become the first fueled designs tested at the Demonstration of Microreactor Experiments (DOME) facility—the world’s first dedicated microreactor test bed slated to open at Idaho National Laboratory (INL) in early 2026. The first fueled experiment is expected to begin as early as spring 2026. […] The post Westinghouse, Radiant Selected for First Fueled Nuclear Microreactor Tests at INL’s DOME Facility appea
Jinko Solar Submits 1440MWh Solar-Storage Project Proposal in Australia Jinko SolarAustraliahassubmittedaproposalfora1440MWhsolar-plus-storageprojectinNewSouthWalesunderthefederalEnvironmentProtectionandBiodiversityConserv.
OPEC+ will ramp up oil production more aggressively than anticipated in August, accelerating the rollback of its 2023 voluntary supply cuts in a bid to capture market share amid peak summer demand. At a virtual meeting Saturday, eight core members led by Saudi Arabia agreed to add 548,000 barrels per day (bpd) to global supply—exceeding earlier expectations of a 411,000 bpd hike.
A month ago, MDN published a post predicting that Marcellus/Utica natural gas production is set to grow thanks to new pipeline projects and demand from data centers and LNG exporters (see Marcellus/Utica Set to Grow Thanks to LNG, Data Centers, Southeast). Today, we shift the focus from customers to what drillers are saying (predicting) about.
A month ago, MDN published a post predicting that Marcellus/Utica natural gas production is set to grow thanks to new pipeline projects and demand from data centers and LNG exporters (see Marcellus/Utica Set to Grow Thanks to LNG, Data Centers, Southeast). Today, we shift the focus from customers to what drillers are saying (predicting) about.
EVOLVE 2025 brought together leading voices across energy trading, analytics and clean fuels to unpack today’s most pressing market dynamics. From evolving benchmarks to retail analytics, one thing rang loud and clear: adaptation isn’t optional, it’s strategic. We attended four of the most impactful sessions and distilled the must-know insights for traders navigating a market shaped by geopolitical shocks, credit risk, benchmark shifts and clean energy disruption.
Recurrent Energy, a subsidiary of Canadian Solar, and a global developer, owner, and operator of solar and energy storage assets, on July 7 announced that the 1,200-MWh Papago Storage facility in Maricopa County, Arizona, has reached commercial operation. The project is now dispatching stored energy to Arizona Public Service (APS), the state’s largest electric utility, […] The post Recurrent Energy Brings Major Arizona Energy Storage Project Online appeared first on POWER Magazine.
The OPEC+ group of eight, the V8, which made voluntary cuts and began unwinding them in April, met virtually today and decided to raise the production ceiling by 548 kb/d in August, four times the initial increase planned last December. This exceeded market expectations, including ours, of 411 kb/d. Here is an excerpt from the press release “ In view of a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories, and in accordance with
Oil production from Canada’s oil heartland, Alberta, slumped to a two-year low in May as wildfires in the province and maintenance on some oil sands operations dragged oil output to a two-year low. Alberta produced on average 3.61 million barrels per day (bpd) of crude oil in May, according to provincial data cited by Bloomberg. Output plunged by 397,000 bpd from April, and stood at the lowest level since May 202 Production at oil sands projects plummeted by 384,000 bpd, to the lowest level seen
In a recent op-ed, a county commissioner from Hancock County, West Virginia, warned residents against signing a lease with Tenaska to allow the company to use their land to store carbon dioxide (CO2) as part of the company’s Tri-State CCS Hub project. CCS stands for carbon capture and sequestration. According to the commissioner, storing CO2.
After the latest OPEC meeting follows the producers' group's seminar - its invitation to the great and the good of the energy world held once every two years in Vienna. As the Oilholic heads out there for a business trip, while sitting and musing at London's Heathrow airport before the flight, one cannot but help notice that oil benchmarks are on the up.
(World Oil) – The U.S. sees domestic crude output growth slowing more than expected this year as choppy oil prices limit drilling activity. U.S. crude output is now expected to grow by 160,000 bpd this year to 13.37 million bpd and remain flat in 2026, according to the Energy Information Administration’s Short-Term Energy Outlook released Tuesday.
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Despite heightened tensions in the Middle East, oil prices are likely to remain capped below $70 per barrel for the rest of the year amid ample supply and uncertainties about demand. Unless actual supply disruptions occur in and around the hotspots in the Middle East, the price of oil will be a function of supply and demand, analysts and investment banks say.
Gas-fired power plants, both brand new and existing plants, are hot properties these days. We’ve covered several recent sales of existing gas-fired power plants in the Marcellus/Utica region (and beyond). Here’s another one: investment firm Strategic Value Partners, LLC (SVP) announced yesterday that it’s acquiring Red Oak Power, an 831-megawatt natural gas-fired combined-cycle generation facility.
GE Vernova said the first of three blocks of a major natural gas-fired power plant in Taiwan is now online. The company on July 7 said the first 1.3-GW unit of the Hsinta power station is operating, part of the facility's transition from burning coal to using natural gas. The post GE Vernova Brings First 1.3-GW Block of Taiwan Gas-Fired Plant Online appeared first on POWER Magazine.
(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. Firms have taken preliminary steps, including deploying resources to the project site, said two of the people, who asked not to be identified because the information is confidential.
Malaysia’s state energy firm Petronas on Monday said it has successfully shipped its first liquefied natural gas (LNG) cargo to Japan from its newly operational LNG facility in Kitimat, Canada. Petronas has a 25% stake in the Kitimat LNG plant in British Columbia on Canada’s west coast.
As countries worldwide experience more regular extreme weather events, insurers have become more reluctant to cover properties in high-risk areas. However, without insurance, it is impossible for many people to gain access to mortgage financing. We are seeing an insurance crisis in the United States, as insurers are becoming less likely to offer coverage for homes in certain areas, particularly those that have experienced natural disasters, such as flooding and wildfire, in recent years.
OTHER U.S. REGIONS: US proposes rules that could boost oil, gas output in US West; Elon Musk confirms buying overseas power plant, shipping it to Memphis for xAI; LNG boom hits a snag in Louisiana’s crowded waterways; NATIONAL: Dallas Fed energy survey shows oil, gas activity contraction; Imports made up 17% of U.S. energy supply.
A new paper titled “Facilitating Global Deployment of Floating Nuclear Power Plants” has been published by World Nuclear Association’s Cooperation in Reactor Design Evaluation and Licensing (CORDEL) Working Group. This paper highlights the benefits of the technology and focuses on progress made in the regulatory space, which is required for their international deployment.
(Investing) – A consortium led by ExxonMobil (NYSE: XOM ) has discovered a natural gas reservoir off the coast of Cyprus, according to a government announcement on Monday. The drilling operation found preliminary indications of a 350-meter gas-bearing reservoir at a depth of 1.9 kilometers in the Pegasus-1 well, Cypriot government spokesperson Konstantinos Letymbiotis said. “Further assessment will be required in the coming months to evaluate the results,” Letymbiotis stated
A massive heat dome swept across the eastern U.S. last week, driving temperatures into the triple digits and pushing the PJM Interconnection grid to its highest peak load since 2006 (Figure 1). PJM, the nation’s largest regional transmission organization, issued maximum generation and hot weather alerts for June 22-25, forecasting peak loads of 160,526 MW — well above its summer projection of 154,000 MW and nearing the 2006 all-time high of 165,563 MW.
WV News recently interviewed two high-level employees of Diversified Energy—Darren Gibbs, vice president of marketing, and Ron Ridgway, executive vice president for energy marketing. While we expected the typical expressions of support for the company and the oil and gas industry, we were delighted to gain some insights into the company’s thinking and strategy that.
The U.S. power sector seems to be increasingly pulled in two directions. While trundling toward rapid electrification, it is seeking to hold its ground on recent decarbonization triumphs. And while utilities and power companies are racing to add generation capacity, their prospects are limited by aging infrastructure and upended by supply chain constraints that have […] The post “We’re Writing a New Chapter”: Mitsubishi Power CEO Bill Newsom on AI, Gas Turbines, and the Path to Decar
Natural Gas Inventories as of June 27, 2025 The EIA has released its natural gas inventory report, showing a net increase of 55 Bcf as of June 27, 2025. Working gas in storage was 2,953 Bcf as of Friday, June 27, 2025, according to EIA estimates. This represents a net increase of 55 Bcf from the previous week. Stocks were 176 Bcf less than last year at this time and 173 Bcf above the five-year average of 2,780 Bcf.
AUSTIN, Texas (July 8, 2025) — As shifting interest rates, commodity volatility, capital constraints and rising consolidation redefine the minerals and royalties market, Enverus invites journalists and industry professionals to attend its “2025 Mid-Year Minerals Market Outlook” webinar at 1:00 p.m. CT on July 15, 2025. This virtual event will deliver exclusive insights from Enverus experts on the key factors shaping the second half of the year—and what they mean for mineral owners, managers and
Russia saw its revenues from oil and gas for the budget crash by 33.7% in June from a year earlier—to the lowest level since January 2023, amid weaker commodity prices and a stronger Russian ruble. For June, total budget revenues from oil and gas dipped to $6.3 billion (494.8 billion Russian rubles), according to data from Russia’s finance ministry published on Thursday.
NATIONAL: Exxon sees $1.5B earnings hit from lower oil, gas prices; Can oil and gas solve the AI power dilemma?; U.S. LNG feedgas demand rose last week; Celebrate American independence by advancing energy dominance; INTERNATIONAL: Oil rises again on Middle East tensions; Who is the world’s top natural gas consumer? NATIONAL Exxon sees $1.5B earnings.
A utility that serves customers in Missouri announced it plans to build an 800-MW natural gas-fired power plant, along with the company's first large-scale battery energy storage facility, at a site near St. Louis. The post Missouri Utility Plans New 800-MW Gas-Fired Plant, Will Include Energy Storage appeared first on POWER Magazine.
(World Oil) – bp Plc and Shell Plc signed agreements with Libya’s National Oil Corp (NOC) to study new opportunities, joining international majors accelerating their return to the oil-rich African nation. bp, which has pivoted away from its failed low-carbon strategy to focus more on fossil fuels, signed a memorandum of understanding to study reviving two huge oil fields in Libya, it said in a statement on Tuesday.
El Gobierno mexicano alista un plan urgente para refinanciar la deuda de Pemex, que supera los 120 mil millones de dólares, incluyendo adeudos con proveedores. El Gobierno federal prepara un plan emergente para rescatar financieramente a Petróleos Mexicanos (Pemex) , cuya deuda total, entre pasivos financieros y adeudos con proveedores, supera los 120,000 millones de dólares.
Earlier this week, Shell warned its second-quarter earnings would be weaker due to lower trade in gas and oil derivatives. Now, Exxon has joined its peer in the warning series, saying weaker oil and gas prices during the second quarter would affect its financial results, and rather substantially, at that. Big Oil is having a difficult moment. The question is whether it would extend in time.
A kerfuffle has erupted in Morgan Township (Greene County), PA, between drilling and pipeline giant EQT Corporation and the town over the issue of hauling heavy equipment on Morgan’s roadways. Morgan supervisors prohibited EQT from using local town roads to haul heavy equipment to work sites. On June 18, EQT filed a lawsuit against the.
Utilities operate in high-stakes environments where operational resilience, infrastructure reliability, and workforce efficiency are essential for maintaining uninterrupted service. Cutting-edge field service management technology enhances field operations, improves safety, and streamlines emergency response with scalable automation, seamless geographic information system (GIS) integration, and predictive field service intelligence, ensuring efficiency and reliability in even the most […]
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