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Russias flagship Urals crude grade has tumbled alongside all major oil benchmarks in the global market rout and is close to the $50 per barrel threshold for the first time in nearly two years. The Urals price was at around $52 per barrel at the Baltic Sea port of Primorsk on Friday, according to data from Argus Media cited by Bloomberg. The price of Urals further dropped on Monday as oil prices continued to fall, with WTI Crude, the U.S. benchmark, down to $60 per barrel, and Brent Crude prices
For at least a decade, MDN has brought you stories about refracs, also called re-entries and re-completions, where a driller re-enters an existing and declining well to access more rock and pump new life out of it (see our refrac stories here). Last July, we brought you an article about refracs, detailing the two main.
The price slump in crude oil that began last week has extended into this one as market players fears about a global recession deepen. At the time of writing, Brent crude was trading at just below $64 per barrel, while West Texas Intermediate was changing hands for $60.54 per barrel, both down by over 2% from Fridays close. Last week, crude oil prices took a 7% dive after China announced retaliatory tariffs for U.S. imports, matching the U.S. rate of 34% on top of existing levies.
We’ve seen a flurry of stories about the exciting news that THE largest gas-fired power plant in the country, along with a MASSIVE data center complex, will be built at a former coal-fired power plant site in Indiana County, PA (see Largest Gas-Fired Power Plant in the U.S. Coming in Western Pa.). The Homer City.
Higher risks of recessions and higher-than-expected OPEC+ production prompted Goldman Sachs to slash again its oil price forecasts for 2026, days after it had already cut its price outlook in the wake of the U.S. tariffs announcement last week. Goldman Sachss analysts issued a new note dated April 6, in which they slashed their 2026 oil price forecasts by $4 per barrelto $58 for Brent Crude prices and to $55 for the U.S. benchmark, WTI Crude.
Last week, MDN brought you the exciting news that THE largest gas-fired power plant in the country, along with a MASSIVE data center complex, will be built at a former coal-fired power plant site in Indiana County, PA (see Largest Gas-Fired Power Plant in the U.S. Coming in Western Pa.). The site will be transformed.
Libya will offer production sharing agreements to the successful bidders in its first oil and gas exploration bid round in 18 years, top Libyan oil officials said at an event in London on Monday. Libya is offering a total of 22 blocks for exploration and development, 11 offshore and 11 onshore blocks, including areas with undeveloped discoveries, in the first International Exploration and Development Bid Round in 18 years.
After liquefying and exporting over 400 cargoes of LNG from March 1, 2022, through today, Venture Global says its Calcasieu Pass (CP) LNG export facility, located in Louisiana, is finally ready to begin commercial operations.on April 15th. Nearly three years after it began shipping LNG. Venture Global claimed the CP facility was not commercially ready.
After liquefying and exporting over 400 cargoes of LNG from March 1, 2022, through today, Venture Global says its Calcasieu Pass (CP) LNG export facility, located in Louisiana, is finally ready to begin commercial operations.on April 15th. Nearly three years after it began shipping LNG. Venture Global claimed the CP facility was not commercially ready.
Oil continued its downward trajectory on Monday afternoon, with the stock market briefly reversing losses after CNBC reported the White House was considering a 90-day pause in tariffs for everyone except China. Oil prices barely got to respond before the White House walked the report back as fake news. On Monday at 11:12 a.m. ET, Brent crude was trading down another 1.17%, sitting at $64.81, while the U.S. crude benchmark West Texas Intermediate (WTI) was trading down 1.18% at $61.26. ??
On Friday, MDN reported that on the previous day (Thursday), Department of Interior Secretary Doug Burgum joined the CEOs of Range Resources and EQT Corporation and the President of Halliburtons Western Hemisphere operations at a rally in Washington, PA, to cheerlead and promote the announcement about the country’s largest natural gas-fired power plant to be.
India is raising the excise duty on gasoline and diesel effective April 8, the government said on Monday, but noted that the increase in the excise duty would not be felt at the pump. The rise in the excise duty will not raise retail gasoline and diesel prices as it would be borne by oil marketing companies and would be adjusted against the price cut that was warranted because of falling international oil prices.
The Baker Hughes U.S. national rig count lost two rigs last week and now operates 590 active rigs. As for the Marcellus/Utica, the rig count was a combined 36 last week—the highest it has been since last August! Rigs focused on the Marcellus were up by two to a combined 25 across the three M-U.
A Reuters survey on Monday showed OPEC oil output falling in March, driven primarily by drops in supply from Nigeria, Iran and Venezuela. OPEC pumped 26.63 million barrels per day in March, or 110,000 bpd less than February, according to the survey. Nigeria, Iran, and Venezuela each saw a drop in March output of 50,000 bpd. Nigeria is still pumping just above its OPEC quota, but in March, the country reduced supply to its new Dangote refinery.
The American Legislative Exchange Council (ALEC) is Americas largest nonpartisan, voluntary membership organization of state legislators dedicated to limited government, free markets, and federalism. Comprised of nearly one-quarter of the countrys state legislators and stakeholders from across the policy spectrum, ALEC members represent more than 60 million Americans and provide jobs to more than 30.
The U.S. Energy Information Administration (EIA) recently reported that U.S. natural gas consumption set new winter and summer consumption records in 2024, highlighting the growing importance of natural gas in the global energy mix. This surge in consumption comes amid record production levels, even as drilling activity remains subdued. The implications of these trends are significant, influencing everything from energy prices to power generation choices.
In today's rapidly evolving technology landscape, digital literacy and internet access are critical for sustainable development. African Child Projects, a youth-led NGO in Tanzania, is at the forefront of bridging the digital divide and empowering communities through technology, education, research, and policy development.
Iran has awarded US$17 billion of contracts to attempt to reverse a dramatic projected production decline from the worlds biggest gas reservoir. Its South Pars field spans 3,700 square kilometres and holds an estimated 14.2 trillion cubic metres (tcm) of gas reserves plus 18 billion barrels of gas condensate. In addition to generating nearly 80% of Irans gas production, it also accounts for around 40% of its total estimated 33.8 tcm of gas reserves (mainly located in the southern Fars, Bushehr,
When it comes to the Scottish economy, and the energy sector in particular, Ive become pretty much immune to bad news. The post M&A and private equity: forces for good? appeared first on Energy Voice.
Not only is the worlds second largest economy resisting calls to phase out coal theyre revolutionizing it. One Chinese company has gone all in on artificial intelligence to run its coal mining operations and now its raking in more profits than your average investment bank. Even with coal prices in decline, the mine posted a 40% profit margin in 2024.
OTHER U.S. REGIONS: Stonepeak to acquire interest in Woodsides Louisiana LNG; NATIONAL: WTI sinks 14% in two days amid global unrest; DOE offers 16 locations for possible data center, energy infrastructure development; Renewable subsidies are poisoning the nations electricity grid; American energy dominance providing the backbone for fair trade; Weather and inventory build set bearish.
Far removed from the battlefields of Ukraine, the United States, European Union and Russia are facing off on a second front in a struggle over the nuclear energy sector and control of uranium supply chains. While the war in Ukraine may have ground to a stalemate amid a halting search for a ceasefire, Russia is clearly winning the fight over nuclear energy at least for now.
Tesla adds 10.4GWh of energy storage in Q1 2025! AccordingtoOfficialAccount@bjx-chuneng,onApril2,TesladiscloseditsQ12025results,inwhichenergystorageadded10.4GWhofnewinstallations,anincreaseof156.6%o.
Australias Woodside Energy has reached a deal to sell 40% in its Louisiana LNG project with Stonepeak, under which the infrastructure investment firm will provide $5.7 billion towards the expected capital expenditure for the foundation development of the LNG export facility. The transaction provides validation of project quality and increasing attractiveness of the project to other potential equity partners, Woodside said in a statement on Monday.
Allocated storage of 2,200 MWhLarge-scale U.S. solar storage project receives $1.71 billion in financing CopiaPower,arenewableenergydeveloperownedbyinvestorCarlylePortfolio,hascloseda$1.71billiondebtfinancingarrangementtofullyfundtheconstructionofitsMaric.
Shell expects its liquefied natural gas production in the first quarter to have dropped from Q4, due to cyclones and unplanned maintenance in Australia. Shell, the worlds top LNG trader, sees LNG liquefaction volumes at between 6.4 million metric tons and 6.8 million tons in the first quarter of 2025, down from a previous forecast of 6.6 million-7.2 million tons and from 7.1 million tons produced in the fourth quarter of 2024, the supermajor said in its first-quarter 2025 update note on Monday.
RMB 2.1 Billion Bet: Deye Shares Eyes New Energy Storage Markets in Africa and Latin America AccordingtoOfficialAccount@chunengpai,onApril1st,DeyeSharesannouncedaninvestmentofRMB2.127billiontoconstructanannual16GWhindustrialandcommercialenergy.
(World Oil) –The Railroad Commission of Texas on Friday released its figures for March drilling in the state, showing a noticeable gain over the previous months number. The overall figure also tied the level achieved in January. RRC figures show 1,072 new drills recorded during March (up 27.5%), including 818 oil wells, 246 gas wells and eight dry holes.
Its not always leaders who avoid difficult conversations. Employees also avoid by not telling their leaders the truth. A 2023 survey by SHRM (Society for Human Resource Management) found that 58% of employees avoid giving honest feedback to their bosses because they dont believe it will make a difference. Fear of retaliation, power dynamics or simply not wanting to “rock the boat” prevents employees from speaking up.
(World Oil) –Australias Woodside Energy has reached a deal to sell 40% in its Louisiana LNG project with Stonepeak, under which the infrastructure investment firm will provide $5.7 billion towards the expected capital expenditure for the foundation development of the LNG export facility. The transaction provides validation of project quality and increasing attractiveness of the project to other potential equity partners, Woodside said in a statement on Monday.
These four key factors have driven the massive price drop over the last four trading days, said Ole R. Hvalbye, Commodities Analyst at Skandinaviska Enskilda Banken AB (SEB).
(Oil Price) –Libya will offer production sharing agreements to the successful bidders in its first oil and gas exploration bid round in 18 years, top Libyan oil officials said at an event in London on Monday. Libya is offering a total of 22 blocks for exploration and development, 11 offshore and 11 onshore blocks, including areas with undeveloped discoveries, in the first International Exploration and Development Bid Round in 18 years.
Moodys advierte que la falta de inversin en produccin es un mayor riesgo para Pemex que los aranceles de EE. UU., afectando su calificacin crediticia. Moodys advirti que el mayor riesgo para la calificacin crediticia de Petrleos Mexicanos (Pemex) no son los recientes aranceles impuestos por Estados Unidos, sino la falta de inversin sostenida en la produccin de crudo.
'TIPRO appreciates the enormous contributions of the Texas oil and natural gas industry from an economic and energy security perspective', TIPRO President Ed Longanecker said.
Este tipo de hidrgeno es un energtico de importancia estratgica en el plano internacional, pues cuenta con una produccin ms econmica y ambientalmente sostenible, es fuente de suministro ilimitado y una huella de carbono que oscila entre negativa y cero El gobierno de Colombia, a travs del Ministerio de Minas y Energa, inform que proyecta regular la asignacin de reas de exploracin de hidrgeno blanco en el pas sudamericano.
CALGARY AB, April 7, 2025 /CNW/ – InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company“) is pleased to announce that it has closed the previously announced strategic acquisition of Cardium light oil focused assets in the Pembina area of Alberta (the “Acquired Assets“) from Obsidian Energy Ltd.
The new offer of about $659.54 million is for projects on the first list of Projects of Common Interest and Projects of Mutual Interest adopted under the revised TEN-E Regulation.
The Kremlin said on Monday that Russia would do everything necessary to insulate the world’s second largest crude exporter from a global “economic storm” which has sown extreme turbulence in oil markets and raised concerns of a recession. Brent futures fell $1.61, or 2.5%, to $63.
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