Energy News Beat Data source: U.S. Energy Information Administration, Monthly Crude Oil and Natural Gas Production Crude oil production in the United States reached a record high in August 2023, led primarily by more production in Texas. In 2023, most of the crude oil produced in Texas was relatively dense for the state. API gravity measures the density […]
Energy News Beat Data source: Global Trade Tracker Russia’s reliance on four, mainly Asian, countries to import its coal has increased since some countries implemented sanctions against Russia after it invaded Ukraine, according to Global Trade Tracker data. This trade shift corresponds with increased coal exports from the United States to Europe and EU sanctions that went into full […]
Energy News Beat Data source: U.S. Energy Information Administration, Short-Term Energy Outlook, January 2024 We expect average wholesale electricity prices for 2024 in most areas of the country to be close to or slightly lower than in 2023 because of relatively stable generation fuel costs. However, periods of high demand or power market supply constraints could lead […]
Energy News Beat In our latest Short-Term Energy Outlook, we forecast that wind and solar energy will lead growth in U.S. power generation for the next two years. As a result of new solar projects coming on line this year, we forecast that U.S. solar power generation will grow 75% from 163 billion kilowatthours […]
Energy News Beat In our January Short-Term Energy Outlook (STEO), we expect average U.S. retail gasoline prices to decrease in 2024 because of increased inventories related to increased refinery capacity. In 2025, we expect slightly reduced gasoline consumption to further decrease prices. We expect similar supply-side factors to lower retail diesel prices in 2024 and 2025, although […]
Energy News Beat A unit of French energy giant TotalEnergies has recently completed the 100th LNG bunkering operation with its chartered vessel, Gas Vitality, in Marseille. The 135 meters long 18,600-cbm LNG bunkering vessel, owned by Japan’s MOL, completed the milestone operation on January 1, 2024 in the Port of Marseille-Fos, according to V.Group, which […]
Energy News Beat The number of UK businesses on the brink of bankruptcy skyrocketed by more than a quarter at the end of last year amid a “debt storm” triggered by a series of interest rate hikes, a report from a group of insolvency specialists revealed on Monday. The latest ‘Red Flag Alert’ released […]
Energy News Beat Japan’s liquefied natural gas imports dropped 8.1 percent in 2023, and the country lost its position as the world’s top LNG importer to China. According to the provisional data released by the country’s Ministry of Finance, Japan imported 66.15 million tonnes of LNG last year. This compares to 71.99 million tonnes in […]
Energy News Beat A joint venture consisting of China Gas, Wah Kwong Maritime Transport, and CSSC Shipping is expected to order two more liquefied natural gas (LNG) carriers from Dalian Shipbuilding Industry (DSIC) this year, according to shipbuilding sources. China Gas has a 30 percent stake in Sea Jade Investment, Wah Kwong owns 45 percent, […]
Energy News Beat The plunge in mortgage rates in Nov and Dec blew up the hedge for the rate buydowns: surprise cost on top of the regular costs of buydowns. By Wolf Richter for WOLF STREET. Homebuilder stocks tanked on Tuesday after D.R. Horton’s earnings call, with D.R. Horton’s stock [DHI] down 9.2%. The sell-off came after 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.
