Friday, October 18

Tag: Energy

Why Oil Prices Never Surged to $100 This Year
29Dec By adminNo Comments
World

Why Oil Prices Never Surged to $100 This Year

Travelers, truckers and shippers worldwide can thank the U.S. for helping keep a lid on oil and gasoline prices this year.A year ago, Wall Street analysts were predicting the international benchmark for oil prices would surge from around $85 a barrel to well over $100 in 2023. Instead, Brent crude will likely enter 2024 slightly cheaper than where it started this year, though experts warn any spread in global instability could drive it higher. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Williams Cos. to Buy Gulf Coast Natural Gas Storage Portfolio for $1.95 Billion
28Dec By adminNo Comments
World

Williams Cos. to Buy Gulf Coast Natural Gas Storage Portfolio for $1.95 Billion

Energy infrastructure company Williams Cos.has inked a deal to buy a portfolio of Gulf Coast natural-gas storage assets from an affiliate of commodities-trading company Hartree Partners for $1.95 billion.Williams on Wednesday said the acquisition includes six underground natural gas storage facilities in Louisiana and Mississippi with total capacity of 115 billion cubic feet, along with 230 miles of gas transmission pipeline and connections to Transco, the nation’s largest natural gas transmission pipeline.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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The Dominant Dollar Faces a Backlash in the Oil Market
28Dec By adminNo Comments
Money

The Dominant Dollar Faces a Backlash in the Oil Market

Updated Dec. 28, 2023 12:00 am ETSome major emerging economies are dabbling in trading commodities without using the dollar, as they seek to reduce their reliance on the U.S. currency.Faced with U.S. sanctions and other restrictions, Russia and Iran in particular have stepped up oil sales in alternative currencies, and have found buyers in China, India and elsewhere that are happy to buy these exports, often at lower prices.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Williams Cos. to Buy Gulf Coast Natural Gas Storage Portfolio for $1.95 Billion
27Dec By adminNo Comments
World

Williams Cos. to Buy Gulf Coast Natural Gas Storage Portfolio for $1.95 Billion

Energy infrastructure company Williams Cos.has inked a deal to buy a portfolio of Gulf Coast natural-gas storage assets from an affiliate of commodities-trading company Hartree Partners for $1.95 billion.Williams on Wednesday said the acquisition includes six underground natural gas storage facilities in Louisiana and Mississippi with total capacity of 115 billion cubic feet, along with 230 miles of gas transmission pipeline and connections to Transco, the nation’s largest natural gas transmission pipeline.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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OPEC Is Losing Its Mojo on Wall Street
23Dec By adminNo Comments
Money

OPEC Is Losing Its Mojo on Wall Street

Throttling back on oil production hasn’t helped OPEC and its allies to push up crude prices lately.At least four times in the past 15 months, members of the alliance known as OPEC+ have slashed oil output, only for prices to soon retreat anyway. A surge near $100 a barrel petered out earlier this year, and crude futures tumbled 10% in the two weeks after the coalition announced a roughly 5% reduction on Nov. 30.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Biden Pushes Strict Climate-Subsidy Rules Despite Energy Producers’ Warnings
22Dec By adminNo Comments
World

Biden Pushes Strict Climate-Subsidy Rules Despite Energy Producers’ Warnings

Updated Dec. 22, 2023 10:17 am ETWASHINGTON—The Biden administration on Friday proposed tough new rules for a valuable climate subsidy, siding with environmental groups despite warnings from some of the nation’s biggest energy companies that strict limits could stifle a critical industry.The proposed criteria would determine who gets generous tax credits for producing hydrogen, one of the few viable replacements for fossil fuels in heavy industries such as steelmaking and shipping, where renewable electricity and batteries aren’t sufficient. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Energy & Utilities Roundup: Market Talk
18Dec By adminNo Comments
World

Energy & Utilities Roundup: Market Talk

The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.0702 GMT – Centrica has had an outstanding 2023, outperforming the utility sector by around 50%, but 2024 looks to be a more normalized earnings year, Jefferies analysts write in a research note. “We believe that Centrica’s earnings momentum has started to slow down,” they say. To unlock further value, the U.K. energy company needs more visibility on how it can put its standout balance sheet to work, they say. For them to get positive again on Centrica, it needs to deliver on business KPIs, such as growth in energy services, margins on residential energy supply, and further visibility on capital expenditure returns, the analysts say. Jefferies lowers it rat...
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How the Jones Act Distorts Oil Markets
18Dec By adminNo Comments
Business

How the Jones Act Distorts Oil Markets

One small piece of legislation could trim the East Coast’s fuel bill by $802 million a year, according to a new study, while cutting the region’s imports of gasoline by 36% and of jet fuel by 96%. That might sound like a large effect, but it’s only a fraction of the economic gains that could be had from repealing the protectionist Jones Act.This 1920 law, formally called the Merchant Marine Act, says that ships carrying cargo between any U.S. points must be primarily built, owned and crewed by Americans. Although it’s billed as an America First policy, it raises the costs for coastal shipping of domestic products, which often gives imports an edge. The Jones Act makes news whenever a tanker full of Russian natural gas docks in Boston or Puerto Rico, but the same effect is hidden everywher...
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Democrats And Industry Clash Over Controversial Energy Plan
17Dec By adminNo Comments
Politics

Democrats And Industry Clash Over Controversial Energy Plan

OSWEGO, N.Y. — On the snowy eastern shore of Lake Ontario sits a beige metal shipping container roughly the size of a mobile home. Inside, a machine called an electrolyzer is zapping tanks of freshwater with enough volts to split the hydrogen out of H2O to harvest the gas, which the U.S. government is banking on replacing fossil fuels. Hydrogen, the lightest and most abundant element in the universe, has long been manufactured for use in fertilizers and oil refining. Virtually all the global supply today is produced through a chemical process that strips the hydrogen out of natural gas. Since hydrogen produces only water when burned, making the fuel instead with water and electricity that comes from a zero-carbon source offers something that functions like oil and gas without adding carbo...
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