LNG demand to keep growing, but new supply uncertain
Liquefied natural gas project...
Liquefied natural gas project delays make an LNG supply glut highly unlikely in the coming years, while Asian nations' rising energy needs and shift from coal will continue to drive strong demand growth over the next 10 years, according to Woodside Energy CEO and Managing Director Meg O'Neill. This view aligns with Shell's latest annual forecast, which projects a roughly 60% increase in global LNG demand by 2040 and over 187 million short tons of new supply by 2030.
Ring Energy Bolts On Lime Rock's Central Basin Assets for $100MM
Ring Energy Inc. is bolting on Lime Rock Resources IV LP’s Central...
Ring Energy Inc. is bolting on Lime Rock Resources IV LP’s Central Basin Platform assets for $100 million, the E&P announced Feb. 26.
The majority of the assets are located in Andrews County, Texas, next to Ring’s core Shafter Lake operations in the Permian Basin. The remainder exposes Ring to new active plays, the company said in the deal’s announcement.
Approximately 17,700 net acres, 100% HBP, are contiguous to Ring’s existing footprint and had a low-decline net production average of 2,300 boe/d at more than 80% oil for the third quarter of 2024 from about 101 gross wells.
Ukraine’s Zelensky expected to come to US to sign minerals deal
Ukrainian President Volodymyr Zelensky is said to be planning to come...
Ukrainian President Volodymyr Zelensky is said to be planning to come to Washington, DC, tomorrow to sign an agreement that gives the US access to his country’s mineral resources, after both countries agreed to a framework. But major issues surrounding Ukraine’s security remain undecided. Drafts of the agreement viewed by news outlets did not provide an explicit security guarantee from the US, stating only that the US “supports Ukraine’s efforts to obtain security guarantees needed to establish lasting peace.”
Deaths reported in Texas measles outbreak. An unvaccinated...
Deaths reported in Texas measles outbreak. An unvaccinated school-age child in West Texas has died in a measles outbreak that has sickened at least 124 people in Texas and spread to neighboring New Mexico, local health officials said yesterday. State health officials said many people infected in the outbreak were children who were not vaccinated against measles or whose vaccination status was unknown. Health and Human Services Secretary Robert F. Kennedy Jr. said a second person had also died. They are the first people to die from measles in the US in a decade.
House Republicans passed a budget framework on Tuesday night. Here’s what’s in it, but things are likely to change in the long road ahead to passing a final budget.
Israel and Hamas exchanged the bodies of four Israeli hostages for hundreds of Palestinian prisoners whose release Israel had previously delayed. It’s the final exchange of the first phase of their ceasefire.
Amazon unveiled its new AI-powered updated Alexa. Even though it’s not a streaming service, it’s called Alexa+.
Slack experienced a major outage yesterday, preventing coworkers from sending each other memes.
Jeff Bezos said the Washington Post’s opinion pages will be writing “every day in support and defense of two pillars: personal liberties and free markets,” and that the paper’s opinion editor would be leaving.
Oil prices hold at 2025 lows on tariff fears, prospects for end to war in Ukraine
Oil futures settled lower Wednesday, with concerns over...
Oil futures settled lower Wednesday, with concerns over the global economic outlook and potential for an end to Russia’s war against Ukraine that could lift sanctions on Moscow prompting prices to hold ground at their lowest levels of the year.
Official U.S. data released Wednesday showing the first weekly decline in domestic crude inventories in five weeks, along with gains in petroleum-product supplies, provided little support to prices.
West Texas Intermediate crude for April delivery edged down 31 cents, or 0.5%, to settle at $68.62 a barrel on the New York Mercantile Exchange, the lowest front-month finish since Dec. 10, according to Dow Jones Market Data.
April Brent crude the global benchmark, lost 49 cents, or 0.7%, at $72.53 a barrel on ICE Futures Europe. The more actively traded May contract declined 43 cents, or 0.6%, to $72.07 a barrel.
March gasoline shed 0.9% to $1.95 a gallon, while March heating oil declined by 1.9% to $2.34 a gallon.
Natural gas for March delivery settled at $3.91 per million British thermal units, down 6.4%on the contract’s expiration day.
