Wednesday, December 4, 2024

Kinder Morgan In Discussions to Build Third Permian Basin Gas Pipeline: CEO

From Reuters Kinder Morgan Inc has begun internal discussions about building a third natural gas pipeline in the Permian Basin as demand for gas takeaway capacity continues to surge, Chief Executive Officer Steven Kean told investors on Wednesday. As natural gas production has outpaced pipeline capacity in the Permian Basin, a gas glut has led to plummeting prices in the

OPEC vs. Shale: the Battle for Oil Price Supremacy

From The Wall Street Journal Two sets of oil producers are fighting for dominance: the growing U.S. shale patch and the Organization of the Petroleum Exporting Countries. Investors are trying to figure out which side has the stronger hand. Oil prices are near 2019 highs, which could give the impression that OPEC, with its production cuts, is the current dominant force. But

Oil & Gas 360

U.S. Natural Gas Prices Are at a 3-Year Low

From Bloomberg Natural gas futures tumbled to the lowest in almost three years as U.S. shale output swamps the market amid mild spring weather, soothing concern about a potential supply crunch next winter. A seasonal lull in heating and cooling demand, coupled with surging production, is accelerating gains in stockpiles of the fuel in underground caverns and aquifers. While inventories

Keystone Pipeline - Oil & Gas 360

Kenney Win Puts Maligned Trudeau Pipeline Law Under New Pressure

From Bloomberg Alberta’s incoming premier is already fighting pipeline law changes that are in the offing. Jason Kenney’s conservative party swept to power Tuesday in Canada’s oil heartland after a campaign in which he regularly took aim at Prime Minister Justin Trudeau. In his victory speech, Kenney also criticized Trudeau for “imposing new laws that will make it impossible to

Oil Surplus Makes Surprise Return Despite OPEC Cuts, IEA Says - Oil&Gas360

OPEC+ Cuts Oil Production and Russian Exporters Win

From Bloomberg An alliance of countries that includes Russia is cutting oil production to end a global glut. One of the big winners: the nation’s own crude exporters. The supply cuts from the so-called OPEC+ nations, coupled with U.S. sanctions on Venezuela and Iran, have reduced the amount of medium- and heavy-grade sour crude on the market. While Russia is part