Citgo Petroleum’s board has selected Carlos E. Jorda as its chief executive, selecting a veteran refinery expert and native Venezuelan to run a company facing legal attacks and working under U.S. sanctions against its parent, Petroleos de Venezuela (Pdvsa). Citgo severed ties with Pdvsa earlier this year after President Trump levied sanctions on the state-run company and
Read More...Gary Gould has more than three decades of oil and gas industry experience, but his last position lasted just 1% of that timeframe. Gould, who left the employ of oil producer Continental Resources to join EQT Corp., the U.S.’s largest dry gas producer, lasted exactly five months – less than one month in the employ
Read More...South Dakota tribal leaders are requesting a public hearing in North Dakota about a proposed increase in crude oil carried by the Dakota Access Pipeline (Dapl), Kallanish Energy reports. Energy Transfer Partners plans to expand the pipeline’s capacity from more than 500,000 barrels per day, to as much as 1.1 million barrels per day (Mmbpd)
Read More...Crude oil prices fell more than 4.3% Wednesday, to a seven-month low, extending recent heavy losses following a surprise build in U.S. crude stockpiles and fears demand will shrink due to Washington’s growing trade war with Beijing. Brent crude futures dropped 4.4%, to $56.35 a barrel, a seven-month low. Prices have lost more than 20%
Read More...Crude oil prices fell slightly Tuesday, with Brent crude remaining near seven-month lows just below $60 a barrel due to growing trade tensions between China and the U.S., Kallanish Energy reports President Trump is vowing to impose new tariffs on Chinese imports, and China is retaliating by making further moves against U.S. agricultural purchases. The
Read More...Black Bear Midstream said Tuesday it’s entered into a seven-year gas gathering and processing agreement with an unnamed Cotton Valley producer in Louisiana’s Desoto and Caddo parishes, Kallanish Energy reports. Black Bear will build roughly 20 miles of 16-inch, rich gas gathering pipeline west of its DeSoto Parish, 140 million cubic feet per day cryogenic processing
Read More...Caliber Midstream Holdings said Tuesday it’s acquired Bakken assets in North Dakota from American Midstream Partners for an undisclosed price, Kallanish Energy reports. The purchase expands Caliber’s crude oil gathering and transportation service lines and widens Caliber’s area of operations within McKenzie County, North Dakota. The acquired assets include a Federal Energy Regulatory Commission-regulated crude
Read More...Houston pipeline operator Kinder Morgan has sued a suburb of the Texas capital city of Austin over passage of an ordinance the company alleges is designed to keep its proposed Permian Highway natural gas pipeline out of town — despite the route being approved by state regulators. In a lawsuit filed last week in U.S. District
Read More...U.S. exports of liquefied natural gas reached a new peak of 4.7 billion cubic feet per day in May, according to the latest data from the U.S. Department of Energy’s Office of Fossil Energy, Kallanish Energy reports. This year, the U.S. became the world’s third-largest Lng exporter, averaging 4.2 Bcf/d in the first five months of the
Read More...British shale gas producer Cuadrilla said Thursday it would restart fracking at its Preston New Road site in Britain in the third quarter of 2019, with plans to use a thicker fracking fluid to help reduce earth tremors, Kallanish Energy finds. Operations at the first well at the Preston New road site in Lancashire were
Read More...California utility Pacific Gas & Electric (Pg&e) knew power lines in Northern California could fail and cause wildfires, but the company delayed repairs for years before a 2018 blaze that killed 85 people, according to a Wall Street Journal investigation. The utility identified parts that needed repair on its transmission lines to prevent “structure failure resulting (in) conductor
Read More...It wasn’t hard to figure out the backers of the two sides in the proxy battle between independent producer EQT and dissidents known as the Rice Team Wednesday morning, at the long-awaited annual meeting. Kallanish Energy was on hand for the meeting. Body language and facial expressions for status quo EQT, represented by CEO Rob
Read More...The share of U.S. total utility-scale electricity generation from natural gas-fired power plants will rise from 35% in 2018, to 38% in 2019, and then decline slightly in 2020, according to the latest Steo, Short-Term Energy Outlook, produced by the Energy Information Administration. EIA/Steo forecasts the share of U.S. generation from coal will average 24%
Read More...West Texas Intermediate crude oil prices will average $62 a barrel in the second half of 2019, and $63/Bbl in 2020, the Energy Information Administration projects in the just-released Short-Term Energy Outlook (Steo), Kallanish Energy reports. EIA’s forecast WTI price of $63/Bbl for December 2019, should be considered in the context of Nymex WTI futures and options
Read More...The volume of working natural gas injected in the most recent weekly report by the Energy Information Administration was under 100 billion cubic feet for the second straight week, Kallanish Energy reports. For the week ended June 28, 89 Bcf of working gas was injected underground, bringing total working gas stored to 2.39 trillion cubic
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