Energy News Beat U.S. crude oil prices continued to plummet on Wednesday, falling over 3% and Brent crude right behind it, shedding over 2.8% on a surprise U.S. inventory build and uncertainty about interest rate cuts and the future of oil demand growth. On Wednesday at 11:56 a.m. ET, West Texas Intermediate (WTI) was trading at $79.44, […]
Energy News Beat We present this month insights and commentary covering North America and the Global Natural Gas market in this new edition of our newsletter. With geopolitics flaring in various areas around the world, all eyes have been on the global market. Whatever risks near the Strait of Hormuz, the LNG market has weathered […]
Energy News Beat Crude oil prices went lower today after the U.S. Energy Information Administration reported an inventory increase of 7.3 million barrels for the week to April 26. This compared with a substantial draw of 6.4 million barrels for the previous week that pushed prices temporarily higher last week. In gasoline, the authority reported an inventory rise of […]
Energy News Beat One of Canada’s biggest oil and gas companies, Cenovus Energy (NYSE: CVE), booked higher-than-expected earnings for the first quarter of 2024 amid strong oil and gas production and record throughput volumes at its refineries. Cenovus reported on Wednesday nearly doubled earnings per share of $0.45 (C$0.62) for Q1 2024 compared to the same period […]
Energy News Beat Exports of liquefied natural gas (LNG) from the United States fell in April for a fourth month in a row, as the Freeport export facility continues to struggle with operational issues and outages, according to data from financial firm LSEG cited by Reuters. U.S. LNG exports dropped to 6.19 million metric tons […]
Energy News Beat The prospect of decreased crude oil supplies from Mexico, the top international supplier to the U.S. Gulf Coast (USGC), is creating uncertainty among heavy crude-focused refineries. Mexico’s state-owned energy company, Petróleos Mexicanos (Pemex), instructed its trading unit to cancel up to 436 Mb/d of crude exports for April to supposedly focus on […]
Energy News Beat (Bloomberg) – TotalEnergies SE is increasingly making noise about moving its stock listing to New York, adding to chatter around European giants potentially being attracted by U.S. investors’ greater enthusiasm for oil and gas companies. The French energy giant is considering the switch “in part because ESG policies in Europe have more […]
Energy News Beat (Bloomberg) — Germany’s coal phase-out plans face a potential setback after the energy regulator predicted the country will need a lot more fossil-fuel power plants on standby to help keep the lights on in the coming years. The need for so-called reserve capacity to cover shortfalls in wind and solar generation during […]
Energy News Beat Germany’s Meyer Werft has won an order to build another LNG-fueled vessel for Miami-based Carnival Cruise Line, a unit of Carnival. The world’s largest cruise company said on Tuesday it has signed an agreement with Meyer Werft to build a fifth Excel class cruise ship for its namesake Carnival Cruise Line brand. […]
Energy News Beat With the French Senate rejecting the EU-Canada Comprehensive Economic and Trade Agreement (CETA), and the National Assembly possibly doing the same, just ahead of the European elections, Macron’s government could ignore the parliament’s decision. However, the opposition is denouncing this as an anti-democratic move. Following the rejection of CETA on Thursday […]
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.
