The main reason for that seems to be the perception of relative weakness in the Chinese economy, although, as I have said over the last few weeks, the pro-Russia and “drill baby, drill” policy proposals from Donald Trump during the campaign suggest quite significant increases in the supply of crude, which have at least put a ceiling on WTI.
The data shows that US LNG feedgas is set to rise from 14 billion cubic feet per day yesterday to 14.4 billion cubic feet per day today.
The acquisition will bring Ovintiv’s core land position in Canada’s Montney shale play to approximately 369,000 net acres. With the deal, the company will add around 900 total net well locations and 70,000 boepd of production to its portfolio, and gain expanded access to existing midstream and downstream infrastructure.
The EU’s methane regulation will require imports of oil and gas, including LNG, to have equally strong or more stringent requirements of thresholds for these emissions than the European Union, starting in 2030.
According to NUPRC, Nigeria’s current production rate, including crude oil and condensates, has reached 1.8 million barrels per day (bpd), up from 1.54 million bpd in September, with plans to push this figure to 2 million bpd by year-end.
The TotalEnergies Consortium, which includes Qatar Energy and Petronas, is among four companies that have accepted the new Production Sharing Agreement (PSA), the Ministry of Natural Resources has disclosed, while providing an update on the process of awarding eight of the country’s lucrative offshore oil blocks to the six successful bidders.
Stakeholders in the oil and gas sector, including players from the public and private sectors have made recommendations to help reverse the oil production decline recorded over the last four-year period.
Italy’s power utility Enel has become the latest international energy investor to scrap plans for participating in the energy transition of Vietnam.
Oil volatility has increased at the front of the curve, with 30-day realized annualized front-month Brent volatility gaining 2.1 percentage points week on week to 31.7 percent.
It was a week when both oil and natural gas prices recorded small losses.
The headlines revolved around energy biggie Shell plc’s SHEL investment in an Australian gas project and equipment supplier SLB’s SLB expansion in Russia. Developments associated with ExxonMobil XOM, Marathon Oil MRO and NextDecade Corporation NEXT also grabbed attention.