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The U.S. power sector stands at a juncture, facing a confluence of factors that are poised to trigger an era of unprecedented growth and necessitate a large influx of capital. Driven by the increasing demand from data centers, the reshoring of manufacturing, and electrification across transportation, heating, and industry, the demand for electricity is rising at a pace unseen in recent decades.
Germany's RWE just pulled the plug on its U.S. offshore wind business. Quietly. No fireworks, no headlines about thousands of turbines scrappedjust a dry admission that it's "halting activities" in American waters. For one of Europes biggest green energy giants to walk away from a market as large as the U.S., in the middle of an energy transition no less, is not just a business decision.
Last week was another strong week for new permits issued to drill new shale wells in the Marcellus/Utica. For the week of April 14 – 20, the number of permits was down three from the previous week, but still very strong. Last week, 33 new permits were issued in the M-U. In the Keystone State.
For the first time in its history, China has more wind and solar power capacity than fossil fuel-based thermal power, the countrys energy regulatory said on Friday. The countrys renewable fleet hit 1,482 gigawatts at the end of March, crossing a symbolic threshold that makes for great headlinesbut less great power reliability. Because heres the catch: while renewables now account for more than half of Chinas installed electricity capacity, they still delivered just 22.5% of actual power consumpt
Corporate welfare—the transfer of taxpayers’ money to businesses—is ugly, no matter if the money goes to large or small businesses. True to form, Pennsylvania’s Democrat Governor, Josh Shapiro, and his political operative at the Department of Environmental Protection (DEP), “Acting” Secretary Jessica Shirley, yesterday launched a program to try and spread nearly half a billion.
The worlds biggest oilfield services provider, SLB (NYSE: SLB), flagged heightened uncertainties about upstream oil and gas investment amid fears of economic slowdown, fluctuating oil prices, and unknown tariff talks outcomes and impacts. SLB reported on Friday earnings per share (EPS) of 0.72 for the first quarter, which it described as subdued, and flagged potential changes in the industrys appetite for upstream investment going forward.
We spotted a press release that caught our attention. Duke Energy, owner of electricity utility companies serving 8.6 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky, has just sealed a deal with GE Vernova to buy up to 11 7HA gas turbines to power new gas-fired power plants. That’s in addition.
The total number of active drilling rigs for oil and gas in the United States rose again this week, according to new data that Baker Hughes published on Thursday, following a 2-rig increase in the prior week. The total rig count in the US rose by 2 to 587 rigs, according to Baker Hughes, down 26 from this same time last year. The number of oil rigs rose by 2 to 483down by 23 compared to this time last year.
The total number of active drilling rigs for oil and gas in the United States rose again this week, according to new data that Baker Hughes published on Thursday, following a 2-rig increase in the prior week. The total rig count in the US rose by 2 to 587 rigs, according to Baker Hughes, down 26 from this same time last year. The number of oil rigs rose by 2 to 483down by 23 compared to this time last year.
Yesterday, CNX Resources issued its first quarter 2025 update. The company lost $198 million for the quarter, compared with a profit of $6.9 million in 1Q24. On the financial plus side, the company generated $100 million in free cash flow, marking the 21st consecutive quarter of FCF generation. Production was 147.8 Bcfe (billion cubic feet.
Fewer and fewer Canadian consumers are considering buying an electric vehicle as their next car, an AutoTrader survey has shown. For the third consecutive year, the share of Canadians who would buy an EV has dropped. This years survey found that 42% of respondents say they would be considering an EV as their next vehicle, down from 46% in 2024, and down from a massive 68% considering buying an EV in 2022.
Yeah, it happened. And we’re not happy about it. Yesterday, the NYMEX “front month” futures contract for May sank below and stayed below $3/MMBtu, closing at $2.930/MMBtu, some 9.2 cents lower than the closing price from the day before. It was the lowest settlement price since Friday, Nov. 15, 2024. The spot price for physically.
The world economy is at a major turning point, which is why we should brace for rapid changes in the economy. The world is moving from having enough goods and services to go around, to not having enough to go around.The dynamics of the economy are very different with not enough to go around.The hoped-for solution of higher prices doesnt fix the situation; after a point, adding more buying-power mostly produces inflation.
Oil is even today as Opec+ considers Russia and Kazakhstan. Today I have an interview with Katharine Roe, CEO of Pharos Energy and PetroTal add an NED. The post Oil price, Pharos, PetroTal. And finally… appeared first on Malcy's Blog.
As India looks to boost its nuclear power generation, the government is considering allowing foreign companies to own up to a 49% stake in Indian nuclear power plants, government sources told Reuters on Friday. Even if India passes amendments in its nuclear foreign investment laws to allow up to 49% foreign stakes, any foreign investment will likely still need prior government approval, according to Reuters sources.
Pennsylvania Governor Josh Shapiro has found some willing accomplices among PA House Democrats to introduce six bills to implement Shapiro’s nutty, very partisan energy plan, called the “Lightning Plan.” Shapiro claims his so-called Lightning Plan is a comprehensive, all-of-the-above energy plan to secure Pennsylvanias energy future.
Why are oil operators even entertaining Libya? The key risk assessment here seems to be the overly simplified notion that its been 5 years since Libyas civil war ended, and the dust has settled. Nothing could be further from the truth, even as Libyas NOC gets all pomp and circumstance with its new exploration contracts for the first time in two decades.
Iraq has sent a delegation to Syria to study if it could restore an oil pipeline that carried crude from Iraq via Syria to ports on the Mediterranean, the media office of Iraqi Prime Minister Mohammed Shia al-Sudani said on Friday. The Iraqi delegation is headed by the President of the Iraqi National Intelligence Service, Hamid Al-Shatri. The delegation arrived in Damascus on Friday and is scheduled to meet with the President of the Syrian Arab Republic, Ahmed al-Sharaa, along with several senio
The DUNEACRE 138KV – MICHIGA2 138KV transmission line, known in PJM as L765.DUMONT-WILTONCENTER.11215 and in MISO as DUNEACRE 138KV – MICHCITY 138KV (AEPCE01), is a critical bottleneck for transmission constraint in both PJM and MISO energy markets. Its sensitivity to generation shifts and outages, particularly with stronger shift factors in MISO, makes it a prime target for traders leveraging real-time grid analytics.
Politics, Geopolitics & Conflict - The recent terrorist attack in Kashmir, in which at least 26 civilians were killed, has reignited Indo-Pakistani tensions. As of late Thursday, the situation was dangerously and rapidly escalating, with back-and-forth retaliatory measures threatening a major disruption of regional stability. India attributes the attack to Pakistan-backed militant proxies (The Resistance Front), and has retaliated by stopping the Indus Waters Treaty, closing the Wagah border cro
Its no secret that tariffs and trade uncertainties are creating significant challenges for procurement in the oil and gas world. With fluctuating prices and increased operational costs, it has become more important than ever to find the right suppliers quickly and at the best value. Operational bidding is one area where efficient procurement processes are crucial to navigating these complexities and maintaining a competitive edge.
China and the European Parliament are in the "final stages" of discussions about removing sanctions on its lawmakers as part of a move to open the door for mended relations between Beijing and the bloc. "Discussions with the Chinese authorities are continuing and in their final stages," a spokesperson for the European parliament told RFE/RL. European Parliament President Roberta Metsola "will first inform group leaders once the Chinese authorities officially confirm that sanctions have been lift
In todays volatile energy markets, traders need instant access to accurate data to power their workflows. Whether youre navigating nodal pricing, forecasting renewable output or managing risk in markets like ERCOT or PJM, the Mosaic API seamlessly delivers grid analytics and forecasting data directly into your trading environment, empowering you to act faster and smarter.
A growing number of Russian insurance firms, some of which sanctioned by the U.S., have applied with Indias authorities to insure tankers shipping Russian crude oil to India, according to various sources familiar with the matter. Sberbank Insurance, which is sanctioned by the U.S., is one of the companies applying for approval to cover oil tankers docking in India, Russias key crude customer alongside China, sources have told Bloomberg.
(BOE Report) – Phillips 66 reported a bigger-than-expected loss in the first quarter on Friday, as lower refining margins amid a widespread maintenance and turnaround activity across the U.S. refining sector weighed on its performance. U.S. refineries typically undergo seasonal maintenance and turnaround activities in preparation for the summer driving season, when fuel demand significantly increases.
Iran and Russia are enhancing further their energy cooperation as Russian companies signed a deal to develop oilfields in Iran and the countries discuss the creation of a natural gas hub in the Islamic Republic. Irans Oil Minister Mohsen Paknejad is currently on a visit to Moscow, where the two countries that are under U.S. sanctions committed to increase their cooperation.
(Reuters) – Top oilfield services provider SLB missed estimates for first-quarter profit on Friday, as weaker Latin American demand dragged on its international business, and the company warned of a potential industry-wide shift due to economic uncertainty, volatile oil prices and rising tariff risks. Shares of the company fell nearly 2% in premarket trading following results.
As of Thursdays close, crude oil futures were down $1.16 or 1.81% on the week, with prices struggling to hold any meaningful rebound in the face of renewed geopolitical tension, potential supply growth, and macroeconomic headwinds. Though the market attempted to stabilize after early-week losses, sentiment remained fragile as traders weighed risks tied to Iran, OPEC+ output decisions, and the global trade environment.
(World Oil) – GeoPark Limited, an independent oil and gas company with over 20 years of successful operations across Latin America, announces the appointment of Felipe Bayon as its new Chief Executive Officer and a member of the Board of Directors, effective June 1, 2025. This appointment follows the decision of Andrs Ocampo to step down for personal reasons.
Katherine joins Malcy to discuss her new position as CEO of Pharos and what the future holds for the company. Pharos Energy is an independent energy company with a focus on delivering long-term sustainable value for all stakeholders through regular cash returns and organic growth. The post Core Finance CEO Interview: Katherine Roe of Pharos Energy appeared first on Malcy's Blog.
I thought it was just a bad week, one of my clients told me. Then every week was a bad week. She had just stepped into what seemed like a dream role meaningful work, a respected title and attractive compensation. But it didnt take long for the cracks to appear. Her manager took credit for her work, and her ideas were ignored until echoed by others.
Empresarios de Oaxaca reclaman a Pemex una deuda de hasta 1,500 millones de pesos por obras realizadas; cientos de trabajadores han sido afectados por impagos. Ms de 20 empresas afiliadas a la Cmara Mexicana de la Industria de la Construccin (CMIC) en Oaxaca marcharon este jueves en Salina Cruz para exigir a Petrleos Mexicanos (Pemex) el pago de una deuda que asciende entre mil 200 y mil 500 millones de pesos.
La CFE public sus estados financieros auditados anuales correspondientes al ao 2024, dando como resultado un incremento de 4.3% respecto al ao 2023 La Comisin Federal de Electricidad (CFE) ya como Empresa Pblica dio a conocer sus finanzas auditadas anuales correspondientes a 2024, en los que se registran ingresos totales por 667 mil 244 millones de pesos, una cifra importante ya que representa un incremento de 4.3% respecto al ao 2023.
The DOI has expanded the allowable pressure differential for single-wellbore oil production from multiple reservoirs in the Gulf of America's deep waters.
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