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• Cheniere Energy expects lower profits as natural gas prices continue their fall
  Cheniere Energy, the energy firm with a major natural gas line extending...
  Cheniere Energy, the energy firm with a major natural gas line extending from Oklahoma’s STACK and SCOOP plays and also the biggest U.S. buyer of gas and the biggest U.S. exporter of LNG, forecast a lower core profit for 2024.
  
  Just as Oklahoma City’s Chesapeake Energy lowered its capital expenditures for natural gas exploration because of what’s happened to the natural gas market, Cheniere Energy is under the same kind of financial pressure. Natural gas prices dropped nearly 40% in 2023.
  
  As a result, Cheniere Energy explained it plans to cut 2024 production by nearly 30%.
  
  Cheniere’s profit plunged 65% to $1.38 billion after LNG revenue was cut in half to $4.58 billion when Hernry Hub pricing plunged. The plunge occurred after Cheniere installed its major Midship natural gas pipeline to carry gas from near Kingfisher in Oklahoma’s STACK play and south to the state line.
  
  Source: OK Energy Today
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• US drillers add most oil rigs in a week since November
  (Reuters) - U.S. energy firms this week added the most oil rigs since...
  (Reuters) - U.S. energy firms this week added the most oil rigs since November, and the most in a month since October 2022, energy services firm Baker Hughes said in its closely followed report on Friday.  Despite this week's rig increase, Baker Hughes said the total count was still down 127, or 17% below this time last year
  
  The combined oil and gas rig count, an early indicator of future output, rose by five to 626 in the week to Feb. 23, its highest since August 2023..
  
  Baker Hughes said U.S. oil rigs rose six to 503 this week, while gas rigs fell one to 120, their lowest since Feb. 2.
  
  For the month, the total rig count rose by five, the biggest increase since November 2022, while separately, the oil rig count was up by four and the gas rig count rose by one.
  
  
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• 8 corn states get EPA nod to expand E15 gasoline sales
  The Environmental Protection Agency has finalized a rule to allow year-round sales of gasoline with 15%...
  The Environmental Protection Agency has finalized a rule to allow year-round sales of gasoline with 15% ethanol content in eight Midwestern states starting April 28, 2025, approving a request from those states' governors. The American Petroleum Institute is advocating for the passage of bipartisan legislation enabling year-round sales of E15 gasoline nationwide, with API Vice President of Downstream Policy Will Hupman expressing concerns that a "piecemeal approach could weaken the resiliency of the region's fuel supply chain."
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• Gas price slump jolts US oilfield sector
  Employment in the US oilfield services sector has fallen by about 4,680...
  Employment in the US oilfield services sector has fallen by about 4,680 jobs since December, according to the Energy Workforce & Technology Council, as oilfield servicers and drillers freeze hiring, slash jobs and reduce drilling activity and budgets in response to falling natural gas prices. Deep Well Services CEO Mark Marmo foresees heightened challenges for companies lacking oil exposure, particularly those operating in the Haynesville and Marcellus shales.
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• US announces over 500 sanctions against Russia
  The sanctions target individuals connected to the imprisonment of Russian...
  The sanctions target individuals connected to the imprisonment of Russian opposition leader Alexei Navalny, who died last week, as well as Russia's financial and defense sectors and people and entities believed to be providing support to Russia. The measure is the largest batch of sanctions the US has imposed on Russia since it invaded Ukraine and comes on the war's two-year anniversary.
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