Global liquefied natural gas (LNG) buyers – especially in Europe – and some U.S. shale producers have been reeling since a June 8 blast shut Freeport LNG’s massive export terminal Continue Reading
The Federal Reserve raised its target interest rate by three-quarters of a percentage point on Wednesday to stem a disruptive surge in inflation, and projected a slowing economy and rising Continue Reading
U.S. retail sales unexpectedly fell in May as motor vehicle purchases declined amid rampant shortages, and record-high gasoline prices pulled spending away from other goods. The first drop in sales Continue Reading
Gasoline and diesel prices in the Golden State may soar to fresh records in coming weeks as one of the largest refineries on the West Coast starts maintenance. Chevron Corp. Continue Reading
A rapid rise in American fuel exports this year has helped push gasoline prices to a record $5 a gallon and is pressuring U.S. prices of natural gas, which hit Continue Reading
President Biden has made it clear that he won’t take any tools off the table when it comes to bringing gasoline prices down. One such tool is an oil export Continue Reading
The extended outage is ‘significantly longer’ than the three weeks that was initially reported. Freeport LNG’s expectation that full plant operations will come back online by late 2022, and a Continue Reading
The U.S. Department of Energy on Tuesday said it was selling up to 45 million barrels of oil from the Strategic Petroleum Reserve as part of the Biden administration’s previously Continue Reading
Pump prices in the New York metro area hit a fresh record as the driving season ramps up amid the lowest gasoline stockpiles the region has ever seen for this Continue Reading
Nearly every corner of the Lower 48 is dealing with some sort of wild weather, with fires, floods, tornadoes and a punishing heat wave all wreaking havoc. A staggering 120 Continue Reading
Wyoming produced over 1.37 trillion cu ft of natural gas last year. Colorado pumped 2.175 trillion cu ft in 2021. Opposition to more gas production remains strong in the two Continue Reading
Freeport LNG will not resume full operations at its liquefication plant on Quintana Island until the end of this year, according to the company’s Tuesday press release. While China’s LNG Continue Reading
Drivers around the world are tolerating record-high prices for road fuels, as mobility wins out for now over other spending in squeezed household budgets, data showed. The high prices have Continue Reading
President Joe Biden told U.S. oil refiners that unprecedented profit margins are unacceptable. President Joe Biden told US oil refiners that unprecedented profit margins are unacceptable and called for “immediate Continue Reading
The measure is part of broader legislation to bolster U.S. competitiveness with China. Congress is pressing ahead with legislation that could rewrite the rules for American companies investing abroad, proposing Continue Reading
The Biden administration has proposed higher energy-efficiency standards for home furnaces powered by natural gas , which could cause a popular form of gas heater that lacks condensing equipment to Continue Reading
North America Electricity use soared to an all-time high in Texas amid a searing heat wave, topping levels last seen before the coronavirus pandemic. With air conditioners humming across the Continue Reading
The US economy will tip into a recession next year, according to nearly 70 per cent of leading academic economists polled by the Financial Times. The latest survey, conducted in Continue Reading
Europe’s biggest oil firms are rushing to diversify their portfolios while expanding into green energy. Shell announced this week that it will begin selling electricity generated from renewable sources directly Continue Reading
‘An oil spill or leak would cost the world billions to clean up’. U.S. Secretary of State Antony J. Blinken has announced that the Department of State is working with Continue Reading
U.S. oil producers profiting from sky-high prices are doling out billions to shareholders and building cash reserves, a strategy irking lawmakers and voters struggling with record fuel prices while winning Continue Reading
The United States has a new plan to curb Russia’s oil revenue. The U.S. is in talks with European allies over a potential price cap on Russian crude. The goal Continue Reading
A new report shows that U.S. oil and gas firms are underreporting methane leaks. The report suggests that much of the methane emissions appear to be caused by a small Continue Reading
The UK shipped 1.85 million barrels of gasoline to the United States in May. UK gasoline prices are as much as $3 per gallon higher than in the U.S. Taxes Continue Reading
US defence secretary Lloyd Austin accused China of stepping up coercive behaviour towards Taiwan as he stressed that Washington would maintain its military capacity to resist any force that threatened Continue Reading
The power grid operator in the Central United States warned on Friday that problems it may experience keeping the lights on this summer could also occur during the summers of Continue Reading
Current tactics risk $150/b oil, $6/gal gasoline Import tariffs, transfer caps among options Energy sanctions against Russia need to be reconfigured to better target the country’s revenues from oil and Continue Reading
U.S. consumer inflation reached its highest level in more than four decades in May as surging energy and food costs pushed prices higher , with little indication of when the Continue Reading
U.S. President Joe Biden continues to look for ways to bring down the high cost of gasoline—and the latest efforts have him taking a hard look at U.S. refinery capacity. Continue Reading
US gasoline prices breach $5/gal level EIA forecasts maximum summer refinery utilization Russian diesel shortages have knock-on impact on gasoline With average US gasoline prices breaking the $5/gal level in Continue Reading
The average price of a gallon of regular unleaded gas in the U.S. hit $5 Friday night, and the rise in fuel costs is expected to persist throughout the busy summer driving Continue Reading
Some of the nation’s biggest food suppliers and restaurants, including Kraft Heinz Co. KHC 0.48%▲ and some McDonald ’s MCD -1.97%▼ Corp. franchisees, said they would continue to raise prices Continue Reading
An aging, polluting coal power plant in Missouri was headed for retirement this year. But because the region’s grid operator needs the plant’s electricity to reduce the risk of blackouts, Continue Reading
As US motorists pay record prices at the pump, Joe Biden has pleaded with the country’s oil producers to open the taps and stem the surge. But those calls — Continue Reading
Even before the start of the war in Ukraine, an international alliance to rally the world against a Russian invasion came together so quickly that President Biden later marveled at the “purpose Continue Reading
The Biden administration’s leading international energy adviser has called on India not to go “too far” as it increases imports of discounted Russian crude that has lost buyers in Europe. Continue Reading
Mexican state oil company Petroleos Mexicanos released thousands of tons of methane gas into the atmosphere from an oil and gas platform in the Gulf of Mexico last December, research Continue Reading
Power demand in Texas will likely set fresh all-time highs every day from June 10-13 as economic growth boosts usage and homes and businesses keep their air conditioners cranked up Continue Reading
U.S. distillate inventories have started to climb seasonally – which should temper some of the bullishness about oil prices and refining margins in the short term. Stocks usually increase at Continue Reading
As U.S. gasoline prices approach a record average of $5 a gallon, fuel costs are rippling through almost every corner of business, with signs emerging that the rising expenses are Continue Reading
Temperatures are soaring as we head into the weekend beneath an intense and sprawling heat dome that will bring triple-digit heat to 45 million Americans in the coming week. Heat Continue Reading
Russia’s invasion of Ukraine has changed the state of the global natural gas market forever. For U.S. natural gas producers, Europe’s desire to wean itself off natural gas has significantly Continue Reading
Since Monday, the national average for a gallon of regular gasoline has increased by 11 cents to $4.97. According to new data from the Energy Information Administration (EIA), total domestic Continue Reading
Highlights Deal covers 1.75 million mt/year of volumes High spot prices spurring long-term fixed-price deals Norway’s Equinor has agreed to a long-term FOB deal to buy 1.75 million mt/year of Continue Reading
Some observers expressed hope that a trip by President Biden to Saudi Arabia could spark more production and bring prices down. In reality, there is no quick fix to the Continue Reading
A explosion and fire on Wednesday hit the massive Freeport LNG liquefied natural gas plant on the Texas Gulf Coast, prompting an evacuation of nearby beaches and sending U.S. natural Continue Reading
Power demand in Texas broke the June record on Monday and Tuesday and will keep rising this week until it tops the all-time high as economic growth boosts usage and Continue Reading
Sonny Alaniz was headed home after midnight when his ATV lurched to a stop on a rural Texas road, the gas tank undeniably drained. The nursing student and his seven Continue Reading
Big oil and gas companies have internal data showing that their methane emissions in the vast Permian Basin “are likely significantly higher than official data” reported to the Environmental Protection Continue Reading
U.S. crude oil refinery inputs averaged 16.4 million barrels per day during the week ending June 3, 2022 which was 355,000 barrels per day more than the previous week’s average. Continue Reading
