Energy News Beat Spot charter rates for the global liquefied natural gas (LNG) carrier fleet continued to decline this week, while European and Asian prices also dropped compared to the week before. Last week, Spark30S Atlantic decreased to $108,500 per day, and the Spark25S Pacific decreased to $80,250 per day. “LNG freight rates have fallen […]
Energy News Beat Jan 11 (Reuters) – Global oil demand is expected to increase by almost 2 million barrels a day in 2024, with China accounting for more than 25% of the increase, consultancy Wood Mackenzie said in a report on Thursday. WoodMac projected total oil demand of 103.5 million barrels per day for this […]
Energy News Beat Traders are purchasing call option spreads on Brent Crude, betting that oil prices will hit $110 per barrel by the end of March and April, with bets equivalent to around 30 million barrels. Current market fundamentals and analyst projections suggest a balanced or slightly surplus oil market, casting doubt on the likelihood […]
Energy News Beat DUBAI, Jan 11 (Reuters) – Iran seized a tanker with Iraqi crude destined for Turkey on Thursday in retaliation for the confiscation last year of the same vessel and its oil by the United States, Iranian state media reported, a move likely to stoke regional tensions. The seizure of the Marshall Islands-flagged […]
Energy News Beat Britain is to build a new nuclear power station with the capacity to power as many as six million homes under plans to boost energy security and hit net zero targets. Claire Coutinho, the Energy Secretary, heralded the plans as “the biggest expansion in nuclear power for 70 years” as she set out […]
Energy News Beat Super busy Chinese shipyards are now accepting orders as far out as 2029. Middle Eastern liquefied natural gas (LNG) producer QatarEnergy has signed a contract with Hudong-Zhonghua Shipbuilding for the construction of eight supersize LNG carriers. The next step in the state-owned company’s massive shipbuilding program will see the CSSC-affiliated yard build […]
Energy News Beat Hertz Global Holdings Inc. said Thursday it is selling about 20,000 electric vehicles from its fleet, or about one-third of the total, in the latest sign that the EV revolution is stalling amid weak demand from consumers. The car-rental company said it expects to book $245 million in charges in the fourth […]
Energy News Beat Offshore staff PENRYN, UK — HydroWing has opened a new office at the M-SParc science park on the island of Anglesey in North Wales to support development of its Morlais tidal stream energy project. Under the UK government’s latest contracts for difference bid round, the company secured an allocation for a 10-MW development. […]
Energy News Beat PJM has urged Talen Energy to delay its deactivation of two of four units at the 840-MW coal, oil, and gas–fired Herbert A. Wagner Generating Station in Maryland until transmission upgrades are put into service around 2028. The nation’s largest regional transmission organization (RTO) on Jan. 10 said it informed Talen that the deactivation of Units […]
Energy News Beat The latest example of pointless virtue-signaling, intended to help ‘save the planet’, has shown itself to be inadequate for its intended role. The 53 Class 777 units, built by Stadler Rail in Switzerland & Poland (because all the British locomotive manufacturers have long since gone out of business from lack of orders), […]
Pecos Country Operating, LLC is a privately owned oil and gas exploration and production company headquartered in Fort Worth. We own and operate wells across the South Central United States with our predominant means of production coming out of West and North Texas.
