(Bloomberg) — European natural gas rose after a raft of sanctions against Russia over its invasion of Ukraine amplified concerns about energy shortages. Benchmark futures pared earlier gains after the stronger restrictions earlier drove prices as much as 36% higher. The new sanctions exclude energy, but they could force buyers, financiers and shippers to stay […]
Read MoreEnergy Transfer LP provides energy-related services. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and 12,340 miles of interstate natural gas pipelines. It also sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies. […]
Read More(Bloomberg) — A cash bonanza may help Energy Transfer LP deliver the highest return among major U.S. oil and natural gas pipeline operators. The company owned by billionaire Kelcy Warren is seen reporting a record annual profit next month, boosted by sales of gas at skyrocketing prices during last February’s Texas freeze. The largest U.S. […]
Read More(Bloomberg) — The Texas power grid and the natural gas drillers, wind farms and solar arrays that supply it are facing their second test in less than a month as subzero weather bears down on the Lone Star state. Temperatures in wide swaths of the second-largest U.S. state are forecast to plunge to well below […]
Read MoreWhile oil markets are concerned about the immediate hit to demand from the Omicron COVID surge and a looming oversupply, officials at oil-producing countries and industry executives have been warning for months of a supply shortage in coming years unless investment in new projects rises materially. Last year and this year, investment in new oil […]
Read MoreThe European gas crisis has hogged energy headlines for months. But that hasn’t stopped Germany from retiring half of its nuclear capacity by the end of the year and pushing an accelerated phase-out of its coal-fired plants by 2030. And for Germany’s energy security, it could spell disaster. The commitments to greenifying Germany’s grid are […]
Read More(Bloomberg) — Europe is getting a taste of how bad this winter’s energy crisis could get as Kosovo starts cutting electricity supplies to most of its 2 million people. The Balkan country, one of Europe’s poorest nations, will introduce rolling two-hour blackouts for most consumers from Thursday, electricity distributor KEDS said in statement. The challenges […]
Read MoreEurope’s energy crisis got even worse on Tuesday as a shortage of natural gas, nuclear outages, declining wind power output, and cold weather boosted prices. The gas price at the Dutch TTF hub, the benchmark gas price for Europe, soared 10% to a new record high of 165 euros per megawatt-hour after gas entering Germany […]
Read More(Bloomberg) — It’s been a roller-coaster ride for natural gas this year, with most of the time spent climbing to newer heights. Spot contracts in Asia and Europe surged to a record, triggering factory closures and bankrupting energy retailers from Singapore to the U.K. Higher prices also meant storage facilities weren’t replenished as much as […]
Read MoreClimate activists protest against the Cambo oil field during last month’s Cop26 summit in Glasgow A major North Sea oil project which it was claimed would help secure UK energy supplies has been plunged into crisis after Shell pulled out citing doubts about its viability, amid a lack of political support in Westminster and Holyrood. […]
Read More(Bloomberg) — President Joe Biden didn’t mince words as he blamed the oil industry for gasoline prices running at a seven-year high. “Gas supply companies are paying less and making a lot more,” he said in televised remarks from the White House last week. “That’s unacceptable.” Within minutes, the oil industry and its congressional backers […]
Read MoreNord Stream 2 gas pipe Shortages of natural gas could cause rolling blackouts in Europe this winter, one of the world’s largest commodity traders has warned, as gas prices surged after Germany suspended certification of a key new pipeline from Russia. Jeremy Weir, chief executive of Trafigura, said a prolonged cold snap could cause major […]
Read MoreThe impact of the global pandemic sometimes seems to have no end in sight – even though economic activity has been picking up enough this year to start raising a lot of questions about inflationary pressures, their impact on interest rates, and more. One of the sectors that has rallied strongly since November of last […]
Read More(Bloomberg) — Two U.S. natural gas exporters said they’re moving closer to expanding supplies of the power-plant and heating fuel as a global shortage roils economies from the U.K. to China. Venture Global LNG is “very close” to producing the first drops of liquefied natural gas from its Calcasieu Pass terminal in Louisiana, Chief Executive […]
Read MoreThe future of the U.S. energy market is unclear. Wenbin Yu/Dreamstime About the author: Ellen R. Wald, Ph.D. is president of Transversal Consulting and a nonresident senior fellow at the Atlantic Council. She is the author of Saudi, Inc.: The Arabian Kingdom’s Pursuit of Profit and Power. As Europe struggles through an energy crisis, the […]
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