Energy News Beat OPEC+ faces record-breaking U.S. oil production and rising supply from other non-OPEC+ producers, including Brazil, Guyana, Canada, and Norway. Barring a major geopolitical escalation resulting in a large supply outage, oil prices are unlikely to reach $100 a barrel in 2024. Paul Sankey: Record-high U.S. oil production is a “huge problem” for […]
Energy News Beat Australian LNG player Woodside has signed a non-binding memorandum of understanding with four Japanese companies to enable studies of a potential carbon capture and storage (CCS) value chain between Japan and Australia. Under the MoU, Woodside with Sumitomo Corporation, JFE Steel Corporation, Sumitomo Osaka Cement, and K Line will study the capture, […]
Energy News Beat Japan’s liquefied natural gas (LNG) imports dropped in November compared to the same month last year, according to the provisional data released by the country’s Ministry of Finance. The country’s LNG imports decreased by 3.9 percent year-on-year in November to 5.33 million tonnes, the data shows. LNG imports dropped compared to 5.41 million […]
Energy News Beat More than 2,200 workers are entering the third day of their sit-in 500 meters below the surface More than 2,000 miners are continuing their protest after taking over a facility in South Africa, demanding bonuses and pension payments. The site is owned by one of the world’s largest platinum miners, Impala Platinum […]
Energy News Beat Brussels will allow Slovakia to export fuel produced from sanctioned crude to the Czech Republic for another year The European Union has granted Slovakia a year-long exemption allowing it to export fuel processed from Russian crude by the country’s oil refinery Slovnaft to the Czech Republic, Reuters reported on Wednesday. Last December, […]
Energy News Beat A Moscow-based unit of Hungary’s OTP bank brings millions in dividends to the parent company, financial reports show The Russian subsidiary of the Hungarian OTP Bank will pay nearly $31 million in dividends to its parent company, the bank’s filing published on Tuesday revealed. According to the document, OTP Bank Russia will […]
Energy News Beat Key Takeaways 1: The developer of “Icebreaker,” a small project in Lake Erie, announced it is pulling stakes on its six-turbine project. 2: The project received a $50 million grant under President Obama, but the Energy Department has pulled the grant and taxpayers will get $37 million back. 3: Opponents of the […]
Energy News Beat UAE’s Adnoc has signed a heads of agreement with a unit of Chinese independent gas distributor ENN to supply the latter with liquefied natural gas from its planned LNG terminal in Al Ruwais. Under the deal, ENN LNG (Singapore), a unit of ENN Natural Gas, will buy 1 million metric tons per […]
Energy News Beat China and Brazil shed large portions of their holdings, but the top financial centers loaded up. By Wolf Richter for WOLF STREET. The total amount of Treasury securities outstanding has reached $33.89 trillion and is going to hit $34 trillion shortly. Everyone of these securities must be sold to someone, and foreign holders play a […]
Energy News Beat Daily Standup Top Stories Energy Workforce: Biden’s Gulf of Mexico leasing auction “detrimental” to U.S. energy supply December 19, 2023 Mariel Alumit (WO) – Energy Workforce & Technology Council released the following statement rebuffing the newly finalized Department of Interior 2024–2029 National Outer Continental Shelf Oil and Gas Leasing Program. The program holds the […]
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.
