Friday, December 27, 2024
Suncor signs oilsands lease development MOU with Fort McKay First Nation- oil and gas 360

Suncor signs oilsands lease development MOU with Fort McKay First Nation

Yahoo Finance CALGARY — Suncor Energy Inc. says it has signed a memorandum of understanding with the Fort McKay First Nation on a prospective oilsands lease development opportunity on reserve lands. The Calgary-based oilsands company says it is progressing early-stage technical and commercial feasibility assessments to determine the quality and quantity of economically recoverable bitumen ore in the area, which

World oil demand looks strong on U.S. shale production growth, Kuwait Petroleum CEO reports- oil and gas 360

World oil demand looks strong on U.S. shale production growth, Kuwait Petroleum CEO reports

World Oil (Bloomberg) – Global oil consumption is strong and the market looks relatively balanced this year as OPEC+ tries to stabilize prices, according to the Chief Executive Officer of Kuwait Petroleum Corp. The market is expected to tighten further as the year goes on, Sheikh Nawaf Al-Sabah, said in an interview. U.S. shale production has helped meet some of

Xcel Energy may have triggered wildfires in Texas- oil and gas 360

Xcel Energy may have triggered wildfires in Texas

Oil Price Xcel Energy’s facilities in Texas may have been the cause of a spree of wildfires that ripped through the state. Excel, based in Minneapolis, an electric utility and natural gas delivery company, said it very well may be responsible for igniting the recent Smokehouse Creek fire—the largest wildfire in the state’s history. The Smokehouse Creek wildfire began February

YPF to exit aging Argentine oil fields to free $800 million for Vaca Muerta shale push- oil and gas 360

YPF to exit aging Argentine oil fields to free $800 million for Vaca Muerta shale push

World Oil (Bloomberg) – Argentina’s biggest oil and gas producer, state-run YPF SA, said its sweeping plan to divest aging oil fields will free up hundreds of millions of dollars to invest in its shale push in the heralded Vaca Muerta formation. “Exiting some of our mature conventional fields will release around $800 million in capex to be reallocated primarily

Weekly Gas Storage: Inventories increase by 68 Bcf- oil and gas 360

Weekly Gas Storage: Inventories decrease by 40 Bcf

Natural Gas Inventories as of March 1, 2024 The EIA has released its natural gas inventory report, showing a net decrease of 40 Bcf as of March 1, 2024. Working gas in storage was 2,334 Bcf as of Friday, March 1, 2024, according to EIA estimates. This represents a net decrease of 40 Bcf from the previous week. Stocks were