Stratas Advisors says even with the reported drawdown in U.S. crude inventories, the price of Brent crude oil remains below the upward channel that had been in place since January of this year.
Stratas Advisors forecasts that OPEC+ will continue to manage supply in a proactive manner while non-OPEC supply growth is expected to be more modest during 2024 and 2025 than seen in 2023.
Sawan said LNG will continue to play a critical role adding that LNG currently makes up around 13% of gas sales but was expected to grow to around 20% in the coming 15 to 20 years.
B&W will convert the plant’s two coal-fired boilers to natural gas by designing and installing burners, air systems, fans and other equipment.
Relatively stable WTI prices in the $80s/bbl provide some breathing room as companies allocate cash for operations, and pragmatism is seeping into the energy transition movement.
In the LNG exporting space, the U.S. is squaring off with its fiercest competitor, Qatar, with both countries expected to outpace Australia
Targa Resources says different projects are falling in place for gas capacity expansion
After facing regulatory scrutiny, Exxon Mobil closed a roughly $60 billion acquisition of Pioneer Natural Resources. The largest shale oil transaction ever signed will reshape the order of power in the vast Permian Basin oil field.
Chesapeake Energy is stockpiling DUCs until demand returns through growth from LNG exports, power generation and industrial activity.
Tellurian’s Driftwood LNG received an extension through 2029 with authorization from the Federal Energy Regulatory Commission and the U.S. Army Corps of Engineers.
Oil takeaway capacity from the Permian Basin will tighten next month due to scheduled pipeline maintenance.
Appalachia gas producer Gulfport Energy continues to report “strong oil production” from a two-well Hendershot pad drilled in eastern Ohio last year. Gulfport plans to develop additional liquids-rich opportunities this year as natural gas prices hover near record lows.
CPS Energy has acquired all assets associated with the 897-MW Barney Davis and 635-MW Nueces Bay natural gas plants in Corpus Christi, Texas, and the 178-MW natural gas plant in Laredo, Texas.
California-based Chevron Corp. doesn’t plan on allocating more capex into its operations in Venezuela even though it still has U.S. approval to operate there, despite Washington sanctions.