Winter rains lift California hydropower outlook, easing regional demand for natural gas Energize Weekly, May 17, 2023 Heavy rains have filled California reservoirs and boosted the prospect for hydropower – welcomed news to the rest of the West, which saw natural gas prices soar last winter as California utilities scrambled…
California Republicans blast fixed-rate power bill proposal as ‘crazy’ Apr 24, 2023 California Republicans are asking state regulators to reject a proposal by California’s three largest power companies to create a fixed rate for services based on household income. “The ‘fixed-charge’ proposal is nothing but a shameful attempt to exploit…
Xcel Energy will cut Colorado bills again in April as natural gas costs continue to fall Mar 14, 2023 Xcel Energy is again cutting natural gas costs passed through to consumers starting with April bills, the third price decrease announced in two months, even as a special legislative committee pursues…
SoCalGas planning to increase prices in 2024 Feb 27, 2023 As a winter storm continues to move through California, prompting many residents to turn up the heat, Southern California Gas Company announced plans to increase its prices next year. The nation’s largest natural gas company announced that it would hold…
General Assembly deal sets Dominion profits for two years while overhauling regulatory system FEBRUARY 25, 2023 The decision came down to the wire, but on Saturday afternoon Gov. Glenn Youngkin’s office and the General Assembly reached a deal on sweeping legislation to adjust Dominion Energy’s profit margin and reform the…
Hydrogen is supplementing natural gas, but critics remain wary FEB 6, 2023 A public utility is experimenting with blending small amounts of carbon-free hydrogen into natural gas lines in some Minnesota homes, but critics argue the procedure remains largely an exercise in hot air. As first reported last week by…
Number of oil and gas mergers and acquisitions hits a 17-year low in Q4 of 2022 Energize Weekly, February 1, 2023 The volume of oil and gas sector mergers and acquisitions fell to a 17-year low in the last quarter of 2022 as deal value for the quarter declined 13…
Biden administration threatens veto of GOP bill restricting strategic oil reserve releases Jan 23, 2023 The Biden administration is threatening to veto Republican-led legislation that would restrict the release of oil from the country’s emergency reserve. “If Congress were to pass H.R. 21, the president would veto it. He will…
US House passes bill to ban US strategic oil reserve sales to China; Senate path unclear 12 Jan 2023 The US House of Representatives advanced legislation Jan. 12 aimed at preventing crude oil from the US Strategic Petroleum Reserve from ending up in China, sending the measure to the Senate…
Why natural gas prices — and bills — are soaring in Southern California JAN. 9, 2023 Southern California Gas Co. and San Diego Gas & Electric have issued stark warnings to customers that their January natural gas bills could double, citing factors for historically high wholesale costs that include sinking…
Colorado co-ops say Xcel Energy mismanaged natural gas supplies during 2021 storm Energize Weekly, January 11, 2023 The fallout from the soaring natural gas prices created by Winter Storm Uri in 2021 continues as four rural Colorado electric cooperatives have filed a complaint with federal regulators saying they were overcharged…
To replace Russian gas, Europe builds more LNG capacity and boosts U.S. imports Energize Weekly, January 4, 2023 In the dash to replace Russian natural gas supplies, liquefied natural gas (LNG) import capacity in the European Union (EU) and the United Kingdom (UK) is set to expand by a third…
US to Become Net Exporter of Crude Oil in 2023 19 December 2022 The United States has become a global crude oil exporting power over the last few years, but exports have not exceeded its imports since World War II. That could change next year. Sales of U.S. crude to…
High gas prices, energy security concerns make capturing fugitive and flared gas profitable Energize Weekly, December 21, 2022 The combination of higher natural gas prices and geopolitical concerns about energy security is making the capture and commercialization of fugitive and flared emissions economically viable around the world, according to a…
Keystone pipeline has now leaked more oil in the US than any other since 2010: report 12/12/22 On the heels of another spill last week, the massive Keystone pipeline has now leaked more oil than any other pipeline since 2010, according to a new report from Bloomberg. With more than…
US FERC to act on backstop transmission siting, long-running gas pipeline disputes 12 Dec 2022 The US Federal Energy Regulatory Commission is poised to act on transmission siting, key pipeline rate disputes, and two important natural gas pipeline certificates at its last meeting of the year Dec. 15, potentially Democrat…
Wholesale on-peak electricity rates set to jump this winter by as much as 60 percent, EIA says Energize Weekly, December 14, 2022 On-peak wholesale and retail electricity prices are set to rise across the country this winter, with some regional wholesale rates jumping as much as 60 percent compared to…
Deepwater oil and gas production set to grow 60 percent by 2030 hitting 17 million BOE/D Energize Weekly, December 7, 2022 Deepwater oil and gas production is set to increase more than 60 percent between 2022 and 2030, reaching 17 million barrels oil equivalent per day (BOE/D) – equal to…
Interior Department finalizes plans for sale of oil and gas leases off coast of Alaska November 28, 2022 The Interior Department announced final steps to carry out an oil and gas lease sale off Alaska’s coast, just the second such offshore lease sale of President Joe Biden ‘s tenure. The…
US offshore oil and gas rigs at ‘significant’ risk of cyberattacks, warns government watchdog November 22, 2022 U.S. offshore oil and gas infrastructure faces “significant and increasing” cybersecurity risks that require “urgent” attention, a U.S. government’s watchdog has warned. The Government Accountability Office said in a new report that the…
Equinor Leads the Way in Adoption of Low-emission Offshore Drilling Rigs, Westwood Says November 15, 2022 The availability of emission-lowering upgrades for offshore rigs has been on the rise, but adoption of these new technologies is slow outside of Norway and the US Gulf of Mexico due to limited regulatory…
Big Utilities See Inflation Reduction Act Helping Reduce Customers’ Energy Bills November 14, 2022 Utility giants planning to spend billions of dollars to move away from fossil fuels see the Inflation Reduction Act helping to reduce the cost of that transition as its customers grapple with high energy bills. Executives…
Spurred by high commodity prices, energy production revenues on federal lands surge Energize Weekly, November 16, 2022 Energy production on federal lands and offshore areas in 2022 generated $22 billion for the federal and state governments – the highest in revenues since 2008 and second highest in 39 years, according…
ConocoPhillips records big profits, expects to start work at $8 billion Alaska oil project early next year 11/7/22 ConocoPhillips reported making huge profits in the latest quarter amid growing criticism that oil companies are benefiting as gas prices soar, and as President Joe Biden threatens to pursue a windfall profits…
Eversource CEO fears New England might not have enough natural gas if winter is bitter Oct 29, 2022 The top executive of one of the top energy suppliers in New England fears the region may not have enough power if a severe cold spell hits this winter. Eversource Energy CEO…
War in Ukraine is speeding a global energy transition, hobbling Russian exports, IEA says Energize Weekly, November 2, 2022 Global fossil fuel consumption and greenhouse gas emissions are slowing with oil, coal and natural gas either peaking or reaching a plateau by 2030, according to the International Energy Agency (IEA).…
Oil Prices Dip on Report Biden Preparing New Sales From Strategic Petroleum Reserve 10/18/22 Global oil prices moved lower Tuesday amid reports that President Joe Biden is planning to unveil another release of crude from the nation’s emergency reserves in an effort to reduce energy costs heading into the mid-term…
A colder winter and higher energy prices will boost winter heating costs, EIA says Energize Weekly, October 19, 2022 American households will pay more for natural gas, electricity, heating oil and propane to heat their homes, spurred by increased energy prices and the forecast of a colder winter, according to…
French Refinery Strike Opens Door for More US Exports to Asia October 10, 2022 Asian refiners snapped up at least 12 million barrels of US crude oil in the past two weeks as a strike in France dims demand from one of Europe’s largest buyers. Refiners, mostly from South Korea,…
Threat of recession and drop in oil demand and prices worry Permian producers Energize Weekly, October 5, 2022 Even as oil production rebounds in the Permian Basin, industry executives are worried about a drop in demand due to a recession and remain dogged by rising costs and supply chain problems,…
Goldman Sachs Drops Oil Price Forecast Sep 27, 2022 Goldman Sachs cut its oil price forecast on Tuesday on the deteriorating global economic outlook—although it remained bullish on oil. Goldman said it remained bullish, anticipating that oil prices would likely rise from the current levels given the state of the…
Biden to Release 10MM Oil Barrels Ahead of EU-Russian Ban September 20, 2022 The Department of Energy will offer additional US reserve crude for sale ahead of plans by the European Union to ban most Russian oil in December. The agency will offer 10 million barrels of low-sulfur crude for…
Gas, a ‘bridge fuel,’ dominates U.S. power at any price 09/20/2022 Surging natural gas prices normally result in booming coal generation. But 2022 isn’t normal. Power companies are shrugging off the highest gas prices in over a decade as they ramp up electricity generation at U.S. gas plants, which are…
New methane tax more a regulation aimed at curbing emissions than a revenue raiser Energize Weekly, September 14, 2022 A methane tax in the Inflation Reduction Act will likely serve more as a regulation than a revenue raiser, spurring oil and gas operations to cut down on fugitive emissions to…
EQT to Buy Marcellus Gas and Pipeline Assets for $5 Billion September 6, 2022 EQT Corp., the largest US natural gas producer, agreed to acquire a privately held competitor in a $5.2 billion deal to expand holdings in the prolific Marcellus shale. Read more
Eagle Ford Crude Oil Production Still Not On Pre-Pandemic Levels August 30, 2022 Constant increases in the past six months have not yet put Eagle Ford crude oil production on par with pre-pandemic levels, the U.S. Energy Information Administration said. According to the EIA’s latest Drilling Productivity Report, crude oil…
Rig Of The Future To Be Powered By Floating Wind, Hydropower August 23, 2022 Huisman has designed a new harsh environment semi-submersible drilling rig that can be powered with onshore-produced hydroelectricity but also with floating wind turbines. The Dutch firm said that the new rig design was aimed at making…
Texas natural gas exports to Mexico hit a record but a regional shortage may loom Energize Weekly, August 24, 2022 West Texas natural gas exports to Mexico reached a record in May, but the combination of growing Mexican exports and new Gulf Coast liquified natural gas (LNG) terminals could leave…
National Grid’s first-of-its-kind renewable energy RFI validates a fossil-free energy strategy for the Northeast August 16, 2022 National Grid has located robust stocks of renewable natural gas (RNG) and hydrogen potentially available for its customers in Massachusetts and New York through the Company’s first-of-its kind Northeast clean energy request for…
USA Drops Rigs August 08, 2022 The U.S. rig count dropped by three week on week, according to Baker Hughes’ latest rotary rig count, which was published on August 5. Read more
Williams CEO Says Robust Natural Gas Demand ‘Driving a Great Pipeline of Growth Opportunities’ August 2, 2022 The chief executive of Williams, a natural gas processing and transportation specialist, said mounting calls for LNG and robust summer cooling demand are driving exceptional activity levels on the Transcontinental Gas Pipe Line…
Analysis: U.S. LNG exports to Europe on track to surpass Biden promise July 26, 2022 When U.S. President Joe Biden promised European leaders in March that he would help secure new supplies of liquefied natural gas to offset shortages from Russia’s invasion of Ukraine, his pledge was greeted with scepticism.…
Q2 oil and gas mergers and acquisitions hit by volatile equity and commodity markets Energize Weekly, July 20, 2022 Oil and gas sector mergers and acquisitions (M&A) buffeted by market volatility slipped in the second quarter of 2022 to $12 billion – an 18 percent decline from the first quarter…
FERC Approval of Nexus Natural Gas Pipeline Exports to Canada Upheld July 11, 2022 A federal appeals court has upheld FERC’s approval of the Appalachia-to-Midwest Nexus Gas Transmission pipeline, siding with the Commission’s assessment of the public benefits of exported gas as part of its certificate decision. Read more
Oil prices tumble, benchmark under $100 for first time since May JULY 5, 2022 The U.S. crude oil benchmark West Texas Intermediate fell below $100 and the international benchmark Brent crude lost 9.93% on Tuesday amid fears of an economic recession. Read more
Oil and gas production rising in the Permian Basin in the face of mounting costs Energize Weekly, June 29, 2022 Oil and gas production in Texas and New Mexico – the most productive U.S. fields – increased in the second quarter of 2022, even as operators face rising costs and…
Proposed, under construction, abandoned: 6 key US pipeline projects June 21, 2022 It’s a complicated time to build a new oil or gas pipeline in the U.S. While the fossil fuel industry continues to see healthy demand and profits amid skyrocketing gasoline prices and war in Ukraine, construction costs are…
U.S. LNG exports soar as Europe scrambles to fill gap left by Russian cutback Energize Weekly, June 15, 2022 Exports of U.S. liquified natural gas (LNG) to Europe soared in the first four months of 2022 and are poised to grow even more as the European Union (EU) scrambles to…
Natural Gas Price Forecast – New Highs Ahead June 6, 2022 Natural gas prices have moved back towards yearly highs as the bullish trend remains strong. The solid demand for energy in the U.S. and worldwide continues to push energy prices higher, so traders may soon push natural gas prices…
Two new pipelines to feed Louisiana Coast LNG export terminals approved by FERC Energize Weekly, June 1, 2022 Two natural gas pipeline projects to feed the growing liquified natural gas (LNG) export facilities on the Louisiana Gulf Coast were recently approved by the Federal Energy Regulatory Commission (FERC). The Evangeline…
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