Fossil Archives

Petrol could hit Rs 100 in states with high VAT as 3 Wall Street banks see oil at $70

February 24, 2021 Stu Turley

There could be more bad news for fuel consumers who may not get any respite from flaring fuel prices in the near future. Three Wall Street banks – Goldman Sachs, Morgan Stanley and Bank of America – have forecast oil […]

Devon All In on Permian Delaware, with Most Capital, Rigs Set for New Mexico, Texas

February 24, 2021 Stu Turley

The Permian Basin will be the go-to target for Devon Energy Corp. this year, with 80% of this year’s capital budget and nearly all of the rigs directed to the massive formation. The Oklahoma City-based […]

Leviathan and Tamar fields, which sit off Israel’s Mediterranean - Energy News Beat

Oil and Gas Industry ‘Demonized,’ Novatek Says: IP Week Update

February 23, 2021 Stu Turley

The heads of BP Plc, Total SE and Equinor ASA are among dozens of speakers convening for the annual International Petroleum Week conference, an event markedly different this year from previous gatherings. The industry’s flagship event in […]

BSP president Mayawati - energy news beat

In India Mayawati attacks govt over rising fuel, LPG prices

February 23, 2021 Stu Turley

Energy News Beat Publishers Note – Inflation and high fossil fuel taxes are in India and just a pre-curser to what is about to hit the United States. Lucknow: Bahujan Samaj Party (BSP) president Mayawati on Tuesday […]

Iran Says Ready for Talks With Arab States Without Preconditions – What about Israel and what does this mean for oil?

February 21, 2021 Stu Turley

Energy News Beat Publishers Note: What this means to energy: Notice Israel is not on Iran’s list of countries to “get along with”, and with the Biden administration begging to get back to an Iran […]

As power returns, Texas energy firms slowly emerge from deep freeze

February 20, 2021 Stu Turley

Texas energy firms on Friday began to prepare for oil and gas production after days of frozen shutdowns as electric power and water service slowly resumed at darkened oilfields and refineries. It will take several […]

Gas pipeline Nord Stream 2 links Germany to Russia, but splits Europe

February 19, 2021 Stu Turley

Recent developments Bloomberg reported on 19 February that the U.S. might hold off on sanctioning German companies involved in the Nord Stream 2 project, as the Biden administration seeks to halt the project without antagonizing a close European ally. […]

U.S. LNG exports set consecutive monthly records of 9.4 Bcf/d in November and of 9.8 Bcf/d in both December 2020 and January 2021, according to EIA’s estimates based on the shipping data provided by Bloomberg Finance, L.P. EIA forecasts that U.S. LNG gross exports will average 9.7 Bcf/d in February 2021 before declining to seasonal lows in the shoulder months of the spring and fall seasons. EIA forecasts LNG exports to average 8.5 Bcf/d in 2021 and 9.2 Bcf/d in 2022, compared with average gross pipeline exports of 8.8 Bcf/d in 2021 and 8.9 Bcf/d in 2022. Since November 2020, all six U.S. LNG export facilities have been operating near full design capacity. In December, the Corpus Christi LNG facility in Texas commissioned its third and final liquefaction unit six months ahead of schedule, bringing the total U.S. liquefaction capacity to 9.5 Bcf/d baseload (10.8 Bcf/d peak) across six export terminals. The November–January increase in U.S. LNG exports has been driven by rising international natural gas and LNG prices, particularly in Asia, and lower global LNG supply because of unplanned outages at several LNG export facilities worldwide. U.S. monthly natural gas pipeline and LNG exports Source: U.S. Energy Information Administration, Natural Gas Monthly U.S. pipeline exports to Mexico increased by 6.4% in the first eleven months of 2020 compared with the same period in 2019 as a result of the completion of a new segment of the Wahalajara pipeline system in June and the Cempoala compressor station in September. The completion of Mexico’s Samalayuca-Sásabe pipeline (0.47 Bcf/d capacity) in January 2021 and the expected completion of Tula-Villa de Reyes pipeline (0.89 Bcf/d capacity) later this year are expected to further increase U.S. pipeline exports to Mexico. Principal contributor: Victoria Zaretskaya

Annual U.S. liquefied natural gas exports forecast to exceed pipeline exports in 2022

February 18, 2021 Stu Turley

According to the U.S. Energy Information Administration’s (EIA) February 2021 Short-Term Energy Outlook (STEO), EIA forecasts that U.S. liquefied natural gas (LNG) exports will exceed natural gas exports by pipeline in the first and fourth quarters of […]

AF-35 fiter - hill Airfors Base - Ogden - Energy News Beat

The Good, Bad and Homely: China Targets America’s Rare Earth Vulnerability and will impact the grid infrastructure

February 18, 2021 Stu Turley

Energy News Beat Publishers Note: The good, bad and homely. The good thing to come out of the Texas disaster, it has brought our United States aging energy infrastructure, which is incapable of handling the […]

Texas leaders failed to heed warnings that left the state’s power grid vulnerable to winter extremes, experts say

February 18, 2021 Stu Turley

Millions of Texans have gone days without power or heat in subfreezing temperatures brought on by snow and ice storms. Limited regulations on companies that generate power and a history of isolating Texas from federal oversight help […]