Energy News Beat Daily Standup Top Stories ADNOC Moves Ahead With Huge LNG Export Project in UAE June 12, 2024 Mariel Alumit Abu Dhabi’s national oil company ADNOC has taken the final investment decision to move forward with the Ruwais LNG project, which will more than double the existing LNG production capacity in the United Arab […]
Energy News Beat Services are big, and that one-month outlier was massive, and it drove down Core CPI and overall CPI. By Wolf Richter for WOLF STREET. The Consumer Price Index for May, on a month-to-month basis, was pushed down by the continued sharp drop in durable goods prices, a drop in energy prices, flat food prices, and […]
Energy News Beat Higher for longer becomes formalized one meeting at a time, as projections for “longer-run” federal funds rate keep getting raised. By Wolf Richter for WOLF STREET. FOMC members voted unanimously today to maintain the Fed’s policy rates unchanged, as Fed governors have uniformly telegraphed in their speeches: Federal funds rate target range: 5.25% – 5.5%. […]
Energy News Beat Dirty coal is dead, and the future is renewable energy. Or so the heavily bankrolled green industrial complex would have us believe. Reality is starkly different, however, as the Global South’s embrace of fossil fuels demonstrates. India is a prime example. Having the planet’s largest population, the country will register the world’s highest […]
Energy News Beat Billionaire Warren Buffett bought almost 2.57 million common stocks from Occidental Petroleum Corp. last week for about $153.3 million. The purchase, made in three tranches, has increased Berkshire Hathaway Inc’s common shares in the United States energy company to nearly 250.6 million, according to a Berkshire regulatory disclosure. Berkshire now owns nearly […]
Energy News Beat Crude oil prices moved lower today, after the U.S. Energy Information Administration reported an estimated inventory increase of 3.7 million barrels for the week to June 7. The change compared with a weekly build of 1.2 million barrels for the previous week that was also accompanied by builds in fuel inventories, pressuring benchmarks. Last week, the […]
Energy News Beat HOUSTON, June 12 (Reuters) – Oil settled higher on Wednesday as ongoing tensions in the Middle East lent support to prices, but news that interest rate cuts could start as late as December capped gains, following the Federal Reserve’s statement concluding its two-day meeting. Brent crude futures settled 68 cents, or 0.83%, […]
Energy News Beat Citi analysts have painted a bleak picture for the oil market, forecasting a significant price drop by 2025. According to their latest note, they anticipate a decline to $60 per barrel for Brent crude, marking a decrease of over 20% compared to current market expectations. The report suggests that while short-term volatility […]
Energy News Beat US LNG shipped to Asia has a lower value-chain emissions footprint than coal-fired power generation, even over long distances. Uncertainties regarding methane emissions and variations in emissions intensity between different sources and types of LNG and coal complicate the assessment. Reducing methane leakages in the LNG value chain can widen the emissions […]
Energy News Beat DALLAS–(BUSINESS WIRE)–Jun. 12, 2024– Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) today announced that a wholly-owned subsidiary of Matador has entered into a definitive agreement to acquire a subsidiary of Ameredev II Parent, LLC (“Ameredev”), including certain oil and natural gas producing properties and undeveloped acreage located in Lea County, New Mexico and Loving and Winkler Counties, Texas (the “Ameredev Acquisition”). 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.
