Proposed N.D. hydrogen plant to source gas from tribe
Bakken Energy and Mitsubishi Power Americas have signed a memorandum of understanding to procure natural...
Bakken Energy and Mitsubishi Power Americas have signed a memorandum of understanding to procure natural gas for their proposed $2 billion blue hydrogen hub in western North Dakota from the Mandan, Hidatsa and Arikara Nation's Fort Berthold Reservation, which produces about 20% of the state's oil supply. The deal will help curb the flaring of associated gas produced along with oil on the reservation.
U.S. oil futures ended Thursday’s session with a modest gain, up a second day in a row, finding support from U.S. government data released Wednesday showing an unexpected weekly decline in crude inventories. The "hot inflation report sent the dollar higher, which tentatively dragged down commodities," including oil prices, said Edward Moya, senior market analyst at OANDA. However, oil market fundamentals "remain very tight and with no immediate changes to that outlook, crude prices seem poised to go higher," he said. West Texas Intermediate crude for March delivery CLH22, +0.43% rose 22 cents, or nearly 0.3%, to settle at $89.88 a barrel on the New York Mercantile Exchange after trading as high as $91.74.
EIA reports a weekly fall in U.S. natural-gas supplies close to market expectations
The U.S. Energy Information Administration reported on Thursday that domestic natural-gas...
The U.S. Energy Information Administration reported on Thursday that domestic natural-gas supplies fell by 222 billion cubic feet for the week ended Feb. 4. That compared with the average decline of 221 billion cubic feet forecast by analysts polled by S&P Global Platts, which pegged the five-year average supply fall for the period at 150 billion cubic feet.
Following the data, March natural gas NGH22, -1.67% declined by 11.7 cents, or 2.9%, at $3.892 per million British thermal units.
Major producer thinks pipeline may not go online until 2023
Executives from EQT Corp., a major customer of the Mountain Valley Pipeline, told Wall Street analysts...
Executives from EQT Corp., a major customer of the Mountain Valley Pipeline, told Wall Street analysts that they aren't expecting it to go into service until the middle of 2023. "We had to pick a spot where we thought MVP was going to come online, and we did that as a placeholder before ETRN puts out their update in about a week," said EQT CFO David Khani.
The Labor Department on Thursday said the consumer-price index—which measures what consumers pay for goods and services—was last month at its highest level since February 1982, when compared with January a year ago, and higher than December’s 7% annual rate. Inflation has been above 5% for the past eight months.
