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Saudi Arabia, the worlds top crude oil exporter, is expected to slash the price of its oil loading for Asia in May to the lowest level in three months amid a slide in regional benchmarks, a Reuters survey of Asian refining and trading sources showed on Friday. Saudi oil giant Aramco is set to slash its official selling price (OSP) for the Arab Light grade by between $1.80 and $2 per barrel to Middle Eastern benchmarks for cargoes loading for Asia next month, according to the survey.
From time to time, we like to check in on what the price of natural gas is doing, both the “futures” NYMEX price (front month) and the spot price at various points around the Marcellus/Utica. We’re certainly well off our highs over the past month from when the NYMEX price hit $4.49 on Monday, March.
The United States and Ukraine have not agreed yet on any draft of a minerals deal, Ukrainian officials said on Friday amid reports that the U.S. pushes for an agreement to have all income from Ukraines mineral resources contributed to a joint fund. The U.S. has revised its original proposal, according to a summary of a draft seen by Reuters. The new proposal does not include security guarantees but includes a proposal to have all revenues from the Ukrainian mineral sources contributed to a joint
On March 24, 2025, the U.S. Supreme Court declined to hear an appeal from a group of kids pushing for federal action on climate change since filing their lawsuit, Juliana v. United States, in 2015.
The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday, following a 1 rig gain in the prior week. The total rig count in the US fell by 1 to 592 rigs, according to Baker Hughes, down 29 from this same time last year. The number of oil rigs slipped by 2 to 484down by 22 compared to this time last year.
Toby Rice, CEO of EQT Corporation, took part in a presentation by natural gas industry leaders at the West Virginia Capitol on Wednesday. The group was briefly joined by Gov. Patrick Morrisey, who was there to promote an expansion of electric microgrids in the state to power data centers. Morrisey is pushing legislature, House Bill.
The price of Russias ESPO crude blend, the flagship grade exported from the Russian Far East, slumped to the lowest level since June 2024 and flipped to a discount to the international benchmark as demand from Chinese state-owned firms has weakened, trading sources told Reuters. Cargoes of ESPO for April loadings are now being traded at a discount of some $1.50 a barrel against ICE Brent on a delivered basis to China, according to Reuterss sources.
Most Britons have no intention of installing a heat pump. Given the cost of electricity in the UK, that’s not unreasonable. Ros Taylor looks at why it is so hard to tempt them away from gas boilers. Credits: Rawpixel, All rights reserved. ‘Not two blokes talking about politics or sport. No, this is two blokes talking about heat pumps.
Most Britons have no intention of installing a heat pump. Given the cost of electricity in the UK, that’s not unreasonable. Ros Taylor looks at why it is so hard to tempt them away from gas boilers. Credits: Rawpixel, All rights reserved. ‘Not two blokes talking about politics or sport. No, this is two blokes talking about heat pumps.
Europe is taking advantage of weak Asian demand for liquefied natural gas and has boosted its LNG imports to the highest level ever for this time of the year, according to vessel-tracking data compiled by Bloomberg. The lower Asian demand and spot prices are incentivizing cargo re-selling in Europe, which is at the end of the heating season but needs a lot of LNG to arrive in the April-October period to refill gas storage levels, which have dropped significantly this winter that was colder than
For the week of Mar 17 – 23, the number of permits issued in the Marcellus/Utica to drill new shale wells dropped by nine from the previous week. Last week, 22 new permits were issued, with 16 going to the Keystone State (PA). PennEnergy Resources took the lion’s share with 11 permits for a single.
The EUs ban on re-exporting Russian LNG is now officially in effect. It essentially halts ship-to-ship transfers at EU ports meant for third-country buyers and the optics are attractive--it's another cut into Moscows energy revenue stream. Whether that translates into pain for Russia is another story. The re-export ban, passed back in June 2024, only targets Russian LNG cargoes passing through EU ports en route to Asia and other markets.
This story isn’t directly connected to the Marcellus/Utica. The “environmental” group in question, Just Stop Oil, has never (as far as we can tell) done any “direct actions” in the Marcellus/Utica. However, the groups’ unrealistic aim of blocking and stopping ALL new oil and gas projects, no matter where they are in the world, implicitly.
Shell has decided to scrap wind and solar power generation projects it had planned to build in Brazil, citing the unfavorable investment environment, per a Reuters report. We are always exploring ways to create value from our power generation portfolio, including exiting activities that do not fit into our strategy or do not generate sufficient returns, the supermajor said in a statement, days after declaring a pivot away from alternative energy and a return to oil and gas as priority business a
On March 27, the Susquehanna River Basin Commission (SRBC) online Hydrologic Conditions Monitor showed low stream flows have triggered restrictions on 18 shale gas water withdrawal points in Bradford, Potter, Susquehanna, Tioga, and Wyoming counties. Another 17 shale gas withdrawals are approaching restrictions. Of the water withdrawal points regulated by SRBC, only shale gas development.
Traders Eye Supply Tightness and Tariff Pressures Light crude oil is posting a solid weekly gain, closing near $69.90 on Thursday, up roughly 2.4%, as traders responded to tightening global supply and rising geopolitical risks. However, prices struggled to sustain momentum above the $70 mark, constrained by macroeconomic uncertainty and strong technical resistance.
Oil is flat but remains firm on the week. Today DEC announce a placing of $300m of new senior notes and from yesterday when UOG got an extension in Jamaica. The post Oil price, Diversified, United. and finally… appeared first on Malcy's Blog.
Kuwait has approved a financing and liquidity law that will allow one of OPECs top producers to return to the debt market after eight years, with borrowing expected to fund projects to diversify its dependence on oil revenues. While the other OPEC Gulf heavyweights, Saudi Arabia and the United Arab Emirates (UAE) are investing and borrowing to invest in major infrastructure, AI, and technology projects, Kuwait has been lagging behind.
Last month, U.S. oil and biofuel groups banded together in an unlikely alliance to protest chaos and uncertainty in the nations biofuels policy. As anxieties have mounted over how a trade war with Canada would impact the sector, actors have become increasingly vocal about the need to establish rules for biofuel waivers and quotas under the current administration.
(Investing) –HOUSTON – A U.S. federal judge trying to move ahead with an auction of shares in the parent of Venezuela-owned U.S. refiner Citgo Petroleum is dealing with a fresh dispute between creditors after a lowball starting bid was recommended in a reboot of the sale. The complex auction meant to repay 18 creditors for debt defaults and expropriations by Venezuela and state oil company PDVSA was relaunched in January after a year-long bidding process ended in shambles amid argume
The next conflicts will be directly over ports and waterways, and the Red Sea has only brought that into clearer focus. From the wildly coveted Horn of Africas access to the Gulf of Aden. But this week, were looking at a backdoor port deal thats captured the attention of Arab media. A tie-up between American megafund Blackrock and Italian-owned Mediterranean Shipping Company (MSC) creates something bigger than Dubai Ports World or even Chinas Cosco.
(Oil Price) –Saudi Arabia, the worlds top crude oil exporter, is expected to slash the price of its oil loading for Asia in May to the lowest level in three months amid a slide in regional benchmarks, a Reuters survey of Asian refining and trading sources showed on Friday. Saudi oil giant Aramco is set to slash its official selling price (OSP) for the Arab Light grade by between $1.80 and $2 per barrel to Middle Eastern benchmarks for cargoes loading for Asia next month, according to the s
Woodside Energy has reached a deal to sell oil and gas assets offshore in Trinidad and Tobago to UK-based firm Perenco as part of portfolio optimization efforts, the Australian major said on Friday. Under the agreement, Woodside Energy will sell its interest in the shallow water Angostura and Ruby offshore oil and gas fields, associated production facilities, and the onshore terminal for $206 million.
This weeks Baker Hughes Rig Count shows that the U.S. decreased by 1 over last week, resulting in a total count of 592 rigs. Canada had a decrease of 17 over last week, resulting in a total Canadian count of 163 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Granite Wash, Haynesville, and Utica regions experienced an increase this week.
When it comes to investing, I am not a big believer in the buy and hold forever strategy. No market ever moves up or down in a straight line, or at least not for long periods, and it seems to me that adding to ones holding of anything that is experiencing an unwarranted dip or selling part of that holding into a rally that looks to be running out of steam is just sensible.
Politics, Geopolitics, & Conflict Sudan's army intensified its offensive on the city of Omdurman (across the Nile from Khartoum) in an attempt to rout the Rapid Support Forces (RSF) paramilitary forces after having declared victory in the capital. This is the most significant movement in this conflict that we have seen in two years of bloody stalemate.
Chinas Installation Rush Expected to Drive Up Solar Industry Prices in 2Q25, Says TrendForce TrendForceslatestfindingsrevealthatgovernmentincentivesinChinaareboostingoverallsolardemandandcreatingasenseofsupplytightnessinthePVmodulemarket.This.
U.S. natural gas futures climbed about 3% to a one-week high on Friday on record flows to liquefied natural gas export plants and a decline in daily output. On its first day as the front month, gas futures for May delivery on the New York Mercantile Exchange rose 11.5 cents, or 2.
Jim Wright of Orange Grove, commissioner of the Railroad Commission of Texas, will be featured speaker at a meeting of Texas Alliance of Energy Producers April 14-15 in Wichita Falls. The TAEP will conduct its expo and trade show for industry leaders, exhibitors and energy professionals. The two-day event will be held at Wichita Falls Country Club and Multi-Purpose Events Center.
'The only certainty right now is uncertainty', one exploration and production company stated in the comments section of the first quarter 2025 Dallas Fed Energy Survey.
Join The Energy Co-op at our Annual Member Meeting and Conference. Who: Members and Friends of The Energy Co-op Where: The Inn at Swarthmore, Swarthmore, PA When: Saturday, June 9th, 8:30am 2:00pm What: The Annual Member Meeting and Conference brings together Co-op members, members of the community and representatives from other Co-ops and other organizations working on sustainable development in PA followed by the Co-op membership meeting.
Since the COVID-19 pandemic upended the modern workplace, leaders have consistently struggled with how to navigate our new normal, an environment where working from home and hybrid models have become more common than ever. My industry, management consulting, was uniquely well-adapted to the change. Since 2019, management consultants are spending more time sleeping in their beds, and connecting with their families, while our clients are no longer footing costly bills for travel and lodging.
Companies planning a flagship offshore gas project between Venezuela and Trinidad and Tobago 'have not slowed down' work, Trinidad Prime Minister Stuart Young said on Thursday
'This combination will create a jointly governed business which will call upon the key strengths of both shareholders', Francisco Gea, CEO of Repsol E&P, said.
Upstream oil companies ramped up hiring in February, the Texas Independent Producers and Royalty Owners Association (TIPRO) said on Friday, marking the second straight month of growth.
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