Permian gas takeaway capacity nearing adequate levels
The Permian Basin natural gas market will be "pretty well-served until the latter part of the decade"...
The Permian Basin natural gas market will be "pretty well-served until the latter part of the decade" once the raft of recently announced gas takeaway projects come online, said Tom Martin, Kinder Morgan president of natural gas pipelines, during a Wednesday earnings call, raising questions about the fate of the company's proposed Gulf Coast Express expansion. "The next projects that need [a final investment decision] will likely come in sometime in 2024, maybe 2025," Martin added.
U.S. natural gas gains 10% to $8/MMBtu as heatwave batters U.S.
U.S. natural gas futures surged more than 10% to a five-week high on Wednesday, as hot...
U.S. natural gas futures surged more than 10% to a five-week high on Wednesday, as hot weather blankets much of the U.S. with forecasts for more during the next two weeks, which likely would boost demand for the fuel.
Front-month Nymex natural gas (NG1:COM) for August delivery closed +10.2% to $8.007/MMBtu, its highest settlement since June 13 and up more than 47% so far this month.
N.D. production reversed some of April's losses in May
North Dakota produced 1.06 million barrels per day in May, up 17% from April, when two...
North Dakota produced 1.06 million barrels per day in May, up 17% from April, when two blizzards and a snowstorm caused oil output to plummet below 1 million bpd for the first time in two years, according to the state Mineral Resources Department. Natural gas production also rebounded by 14% from April to roughly 2.8 billion cubic feet of natural gas per day.
Saudi Minister: We See Lack of Refining Capacity, Not of Oil
Saudi Arabia’s foreign minister said on July 19 that he saw no...
Saudi Arabia’s foreign minister said on July 19 that he saw no shortage of oil in the market, but a lack of oil refining capacity, making it necessary to invest more in the capacity to process crude oil into various oil products.
“As of today, we don’t see a lack of oil in the market. There is a lack of refining capacity, which is also an issue, so we need to invest more in refining capacity,” Foreign Minister Prince Faisal bin Farhan Al Saud told reporters in Tokyo.
Global oil prices have soared after Russia’s invasion of Ukraine and ensuing sanctions on Russian energy stoked supply concerns.
