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Investment , Energy Transition , Storage
Denbury Surpasses CO2 Deal Target with Massive Louisiana Project
With an agreement to transport and sequester CO₂ from a massive clean ammonia project in Louisiana, Denbury surpasses its CO₂ transportation deal target goal for 2022.
November 1, 2022
Natural Gas , Storage
US Natgas Hits 7-Month Low, Set for Ninth Weekly Loss
U.S. natural gas prices have plunged about 58% during the past nine weeks due to forecasts for mild weather, record output and low LNG exports.
October 21, 2022
Crude Oil , Trade , Storage
Biden to Lay Out Plan to Complete Emergency Oil Sales, Support US Production
Biden will also lay out a plan to refill the emergency reserve in the upcoming years, but only at prices at or below a range of $67/bbl to $72/bbl for WTI, the official said. Biden’s hope is to send a signal to both consumer and producers.
October 19, 2022
Liquefied Natural Gas , Natural Gas , Storage
Splinter is Coming: Gas Prices Likely to Spike Again as LNG Exports Grow
The EIA’s Winter Fuels Outlook explains why households will pay more for heating and the vulnerability of natural gas inventories to unexpectedly cold weather.
October 14, 2022
Petrochemicals , Crude Oil , Storage
US Crude Oil Stockpiles Surge; Distillates Draw Down: EIA
U.S. refiners have been running at above-average levels for this time of year to boost inventory levels, though they pulled back on activity last week.
October 13, 2022
Acquisitions & Divestitures , Storage
Martin Midstream Sells California Sulfur Terminal to Gulf Terminals
The asset sale on Oct. 10 included Martin Midstream’s Stockton Sulfur Terminal in California, which Gulf Terminals LLC agreed to acquire for approximately $5.25 million.
October 10, 2022
Crude Oil , Trade , Storage
US Sells Oil from Emergency Reserve to Marathon, Equinor, Others
First offered in September, the sale was part of President Joe Biden’s previously announced plan to sell 180 million barrels of oil from the reserve to fight high petroleum prices after Russia's invasion of Ukraine.
October 7, 2022
Exploration & Production , Natural Gas , Storage
Analysts Forecast ‘Wild Ride’ for LNG Production, Prices across US
Speaking at Hart Energy’s America’s Natural Gas Conference, East Daley analyst Zach Van Everen predicts gas markets will be oversupplied in the short term but believes exports will eventually drive production for decades.
October 3, 2022
Crude Oil , Trade , Storage
US to Sell Oil from Current SPR Release for November Delivery
President Joe Biden’s plan announced in March of the largest release of oil from SPR in history had aimed to sell 180 million barrels by the end of October. So far, only 155 million barrels have been sold.
September 19, 2022
Crude Oil , Trade , Storage
US Emergency Oil Reserves Tumble to Lowest Since 1984
The Biden administration is weighing the need for further SPR releases after the current program ends in October, Energy Secretary Jennifer Granholm told Reuters last week.
September 12, 2022