November 18, 2022 – Oil & Gas 360

U.S. gas prices jump as Freeport LNG targets full restart in March 2023

November 18, 2022

Oil Price U.S. natural gas prices surged on the news that one of the largest U.S. LNG export terminals is targeting a complete operational restart by March 2023. Freeport LNG, a major liquefied natural gas exporter in Texas, wrote in a press release that “it is targeting initial production at the facility in mid-December,” with “full production utilizing both docks remains anticipated

Where the 3rd quarter report is posted you posted the November Corporate IP. Please fix this immediately as I have some confused investors- oil and gas 360

‘Indiscriminate use of hydrogen’ could slow the energy transition, report says

November 18, 2022

CNBC Hydrogen use by the G-7 could jump by four to seven times by the middle of this century compared to 2020 in order to “satisfy the needs of a net-zero emissions system,” according to a new report from the International Renewable Energy Agency. In a foreword to the report, IRENA Director-General Francesco La Camera said it had “become clear

Buyout firm KKR looks to sell Canadian gas producer Westbrick Energy

November 18, 2022

BOE Report Private equity firm KKR & Co is seeking buyers for Canadian oil and gas producer Westbrick Energy Ltd to cash in on high energy prices, in a potential deal valued at around C$1.5 billion to C$2.0 billion ($1.13 billion to $1.5 billion), two sources familiar with the matter said on Thursday. Majority owner KKR aims to strike a deal

White House announces $13 bln in funding to modernize power grids

November 18, 2022

Nasdaq Nov 18 – The White House announced through the Department of Energy (DOE) on Friday that it is soliciting grant applications for $13 billion in new financing under the bipartisan infrastructure bill for the expansion and modernization of the U.S. electric grid. The $1.2 trillion infrastructure law, passed last year, provides $10.5 billion to harden power systems against growing threats

U.S. rig count had an increase of 1 this week, at 585- oil and gas 360

U.S. rig count had an increase of 3 this week, at 782

November 18, 2022

Oil and Gas 360 This week’s Baker Hughes Rig Count shows that U.S. had an increase of 3 over last week, resulting in a total count of 782 rigs. Canada had an increase of 1 over last week, resulting in a total Canadian count of 201 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Cana Woodford,

Argentina’s state oil company YPF sees major jump in profits

November 18, 2022

Oil Price Argentine state oil company YPF last week reported that its net profit for the third quarter leapt 186 percent year-on-year to $678 million, Reuters reported. The company said rising levels of production and higher oil prices drove profits. YPF’s revenue rose to $5.18 billion in the quarter, a 43 percent increase as compared to the same period last

Oil slides on China demand concerns, easing supply worries

November 18, 2022

BOE Report Oil fell around 4% on Friday and was on track for a second weekly decline, pressured by concern about weakening demand in China and further interest rate rises by the U.S. Federal Reserve. As part of the rout, the market structure of both oil benchmarks shifted in ways that reflect dwindling supply concerns. Crude had come close to

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