Tuesday, January 7, 2025
Canacol Energy updates drilling, exploration operations for new gas discovery- oil and gas 360

Canacol Energy updates drilling, exploration operations for new gas discovery

World Oil Publisher’s Note: Canacol Energy Ltd. will be presenting at EnerCom Denver – The Energy Investment Conference register to attend. (WO) – Canacol Energy Ltd. provided information concerning the new Lulo 1 gas discovery and near-term drilling plans.     The Lulo 1 exploration well, located on the 100% operated VIM21 Exploration and Production (“E&P”) contract, encountered 207 feet

Goldman Sachs predicts an oil price rally- oil and gas 360

Goldman Sachs predicts an oil price rally

Oil Price Goldman Sachs continues to be bullish on crude oil and other major commodities, expecting a rally after the biggest-ever destocking in commodities that is currently underway.   Should major economies, including the U.S., avoid deep recessions, the foundations for a rally across the commodity complex remain intact, Goldman Sachs analysts wrote in a note, although they admitted their

New Pemex oil refinery to again miss production launch - document- oil and gas 360

New Pemex oil refinery to again miss production launch – document

Nasdaq MEXICO CITY – A new oil refinery belonging to Mexico’s state-owned Pemex, a top priority of the country’s president, will again miss its promised launch date to begin production, according to an internal audit report seen by Reuters. The report stated that the current July goal was “not feasible,” which would mark a setback for President Andres Manuel Lopez

Oil prices up after bullish Saudi comments, falling U.S. stockpiles- oil and gas 360

Oil prices up after bullish Saudi comments, falling U.S. stockpiles

CNBC Oil prices rose on Wednesday after data showed U.S. inventories and fuel supplies tightening and following a warning from the Saudi energy minister to speculators raised the prospect of further OPEC+ output cuts. Brent crude futures rose $1.42, or 1.9%, to $78.26 a barrel, while U.S. West Texas Intermediate crude (WTI) gained $1.48, or 2%, to $74.40 a barrel. Saudi Arabia’s

Canada natgas exports to US back at levels seen before Alberta wildfires- oil and gas 360

Canada natgas exports to US back at levels seen before Alberta wildfires

Nasdaq Canadian natural gas exports to the U.S. this week returned to levels seen before wildfires in Alberta and other western provinces over the past three weeks forced producers to shut oil and gas wells and cut the amount of fuel flowing in pipelines. That return to normal gas flows from Canada caused U.S. gas futures to plunge about 10%

The intensity of methane emissions from oil and gas sector has declined, study finds- oil and gas 360

The intensity of methane emissions from oil and gas sector has declined, study finds

CNBC The intensity of methane and greenhouse gas emissions from the oil and gas sector declined 28% and 30%, respectively, between 2019 and 2021 among the largest producers in the country, despite an increase in natural gas production, according to an analysis published by the nonprofits Clean Air Task Force and Ceres. The report, which assessed the production-based emissions of more than 300

U.S. crude oil inventories increase by 0.5 million barrels- oil and gas 360

U.S. crude oil inventories decrease by 12.5 million barrels

Weekly Crude Oil Storage as of May 19, 2023     U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 12.5 million barrels from the previous week.  At 455.2 million barrels, U.S. crude oil inventories are 3% below the five year average for this time of year, according to the EIA crude oil and petroleum