This post was originally published on this siteOPEC and its allies are in “a state of readiness” amid a divergence between the physical and futures oil markets, which has prompted the 23-member alliance to take decisions that are preemptive, precautionary and proactive, Saudi Arabia’s energy minister said June 11. “I think the physical market is […]
This post was originally published on this siteJapan’s Hokkaido Electric shut its 600 MW No. 2 coal-fired unit at the Tomato-atsuma power plant unexpectedly at 18:55 local time (09:55 GMT) on June 11 around the time when a major earthquake rocked nearby offshore Urakawa. In a June 11 updated filing to the Hatsuden Joho Kokai
Japan’s Hokkaido Electric shuts 600 MW coal-fired unit as earthquake hits Read More »
This post was originally published on this siteThe UK’s main opposition Labour Party scaled back its flagship pledge to invest $35 billion a year on a green energy transition if it wins the next election.
Labour Pushes Back $35B Green Pledge Blaming UK Economy Read More »
This post was originally published on this siteThe two new rigs will be deployed into operation by the fourth quarter.
ADNOC Acquires Two New Rigs Read More »
This post was originally published on this siteWeekly natural gas cash prices pressed forward alongside a futures rally and forecasts for intensifying heat in the second half of June. NGI’s Weekly Spot Gas National Avg. for the June 5-9 period gained 8.0 cents to $1.890/MMBtu. The average had declined the prior week in concert with
Weekly Natural Gas Spot, Futures Prices Rebound On Forecasts For Intense Heat Read More »
This post was originally published on this siteNatural gas futures rallied through most of the week but gave up ground to close out trading Friday after forecasts shed some heat intensity for mid-June and calls for LNG remained relatively light. The July Nymex gas futures contract shed 9.8 cents day/day and settled at $2.254/MMBtu. August
Natural Gas Futures Lose Steam Amid Mixed Demand Outlook; Spot Prices Slump Read More »
This post was originally published on this siteSaudi cuts announced last weekend failed to overcome energy demand headwinds.
Oil Down as Demand Concerns Supercede Saudi Cuts Read More »
This post was originally published on this siteThe Michigan Public Service Commission June 9 approved $50 million in low-carbon energy infrastructure grants to support projects such as energy storage, community solar, renewable natural gas and electric vehicle infrastructure. “The impact that these projects will have on the state of Michigan is impressive,” said Katherine Peretick,
Michigan PSC approves suite of low-carbon energy infrastructure grants Read More »
This post was originally published on this site The U.S. Department of Energy said on Friday it awarded supply contracts to five companies to deliver 3 million barrels of crude oil to the Strategic Petroleum Reserve in August at an average price of $73 per barrel.
US Buys 3 Million Barrels for Oil Stockpile, Announces Plan for 3 Million More Read More »
This post was originally published on this siteJune 9 marks the 100th anniversary of Platts Oilgram, the revolutionary brainchild of Warren C. Platt who understood the need for transparency, immediacy and integrity in the often murky world of oil and refined product pricing. Platt was already the publisher of the weekly National Petroleum News, but
Platts Oilgram celebrates 100th anniversary Read More »
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