Power Sector Demand to Support Natural Gas Prices Even As Utilities Add Renewable Capacity

As coal-fired power generating plants are retired in a push for utilities to reach clean energy goals, a greater reliance on natural gas for power generation could support prices over the long term, according to market analysts. Generally speaking, coal retirements are bullish for natural gas pricing, analysts said. “As coal retires, the supply of

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Offshore oil & gas exploration heats up in Namibia as Galp spuds prospect while Chevron seeks green light for multi-well drilling program

Galp has kicked off drilling operations at a well in license PEL 83 offshore Namibia, located close to Shell’s Graff and TotalEnergies’ Venus discoveries. The post Offshore oil & gas exploration heats up in Namibia as Galp spuds prospect while Chevron seeks green light for multi-well drilling program appeared first on Offshore Energy.

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January Natural Gas Plunges Below $3 on Booming Production, Mild December Weather

A mild early December forecast and further evidence of surging domestic production combined to send natural gas futures tumbling early Monday as traders returned from the weekend break. After settling 4.2 cents lower on Black Friday, the December Nymex contract was off another 9.7 cents to $2.758/MMBtu as of 8:42 a.m. ET. January was down

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