World Oil (WO) – Cheniere Energy, Inc. entered into a long-term liquefied natural gas (“LNG”) sale and purchase agreement (“SPA”) with Galp Trading S.A., a subsidiary of Galp Energia. Galp has agreed to purchase approximately 0.5 MMtpa of LNG for 20 years from Cheniere Marketing on a free-on-board basis for a purchase price indexed to the Henry Hub price, plus
Publisher’s Note: Jim Felton with EnerCom sat down with Chapman Nuclear CEO John Chapman, a fourth-generation nuclear scientist focused on the hunt for natural gas needed for his hydrogen fusion reactor projects with NASA and other clients. Chapman talks about the opportunities, economics and strategy for growing the company, which includes other business sectors such as radioactive isotopes for medical use.
Natural Gas Inventories as of July 26, 2024 The EIA has released its natural gas inventory report, showing a net increase of 18 Bcf as of July 26, 2024. Working gas in storage was 3,249 Bcf as of Friday, July 26, 2024, according to EIA estimates. This represents a net increase of 18 Bcf from the previous week. Stocks were
Oil and Gas 360 “Knowledge workers” anticipating a cheap energy/low emissions post-industrial work-from-home economy are having to confront the need for more industrial production of natural resources and infrastructure as the energy needs for the data centers making their work possible via the internet, cloud and now Artificial Intelligence (AI) are growing exponentially. Data centers are increasingly recognized as another
World Oil (Bloomberg) – Ecopetrol SA expects offshore natural gas from Colombia to come online as soon as 2029, two years later than previously anticipated and not in time to curb a looming fuel shortfall. Colombia is set to face a gap between its domestic supply of natural gas and total demand beginning next year. The fuel gap of around
Oil and Gas 360 The Energy Information Administration (EIA) is saying higher gas demand from the electricity power sector for the rest of this year is expected to bolster natural gas prices nearly 40%. EIA is projecting prices to be around $2.90 per MMBtu (Henry Hub), up from the $2.10 average for the first half of the year. Producers saw
Oil and Gas 360 Finding another way to avoid the waste and lost revenue from stranded gas in a pipeline-constrained portion of the Permian Basin could have global applications, according to two business partners in Texas interviewed in the June-July Oil and Gas Journal. Boosted by a $20 million investment by Midland-based partner and producer Diamondback Energy, Houston-based Verde Clean
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 589 rigs. Canada had an increase of 14 over last week, resulting in a total Canadian count of 211 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Arkoma Woodford,
Oil Price U.S. natural gas-fired power generation jumped this week amid the lowest wind power output in 33 months seen on Monday while demand for cooling is rising in the summer. On July 22, wind power output in the Lower 48 states was at its lowest level in the country since October 4, 2021, per preliminary data from the U.S.
Natural Gas Inventories as of July 19, 2024 The EIA has released its natural gas inventory report, showing a net increase of 22 Bcf as of July 19, 2024. Working gas in storage was 3,231 Bcf as of Friday, July 19, 2024, according to EIA estimates. This represents a net increase of 22 Bcf from the previous week. Stocks were
World Oil (Bloomberg) – Wildfires in Canada’s energy-producing Alberta province are threatening almost 10% of the region’s oil production and forcing the evacuation of one of the country’s largest national parks during the peak summer tourist season. Hot weather has contributed to a wildfire outbreak in Western Canada, with 170 burning in Alberta alone — 53 of them out of
Natural Gas Inventories as of July 12, 2024 The EIA has released its natural gas inventory report, showing a net increase of 10 Bcf as of July 12, 2024. Working gas in storage was 3,209 Bcf as of Friday, July 12, 2024, according to EIA estimates. This represents a net increase of 10 Bcf from the previous week. Stocks were
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