Energy

U.S. oil production last week held at a high point for the year as overall petroleum demand increased, led by consumption of travel fuels, the U.S. Energy Information Administration (EIA) reported Thursday.   Producers pumped 12.1 million b/d for the week ended July 1, according to the EIA’s Weekly Petroleum Status Report. That continued the pace…

Chevron Corp. CEO Mike Wirth urged President Biden on Tuesday to stop criticizing the oil and gas industry to score political points and instead work constructively with energy executives about how to deal with high commodity prices.  The letter from Wirth preceded a meeting scheduled on Thursday between oil and gas chiefs and the administration.…

Atlanta Gas Light Co. (AGLC), one of the South’s largest natural gas distributors, is expanding its liquefied natural gas (LNG) peak shaving facility in the exurbs of Atlanta as part of a long-term response to growing energy demand. The Southern Co. affiliate has started work on a $250 million expansion of its Cherokee LNG facility…

Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. The energy sector is under the spotlight in Mexico perhaps unlike any time in recent history. The modification of the sector’s legal…

Even with growth in renewables, natural gas and petroleum are expected to supply most of the energy consumed in the United States through 2050, according to updated long-term forecasting from the Energy Information Administration (EIA). In its Annual Energy Outlook (AEO) 2022 report, published Thursday, the agency said renewables would represent the fastest-growing U.S. energy…

A bipartisan group of Texas legislators has asked the Biden administration to intervene on behalf of U.S. energy companies operating in Mexico amid the latter country’s increasingly nationalistic energy policies. Sens. John Cornyn and Ted Cruz, along with 18 of the state’s 32 U.S. representatives, signed a letter Tuesday (Oct. 19) to U.S. Ambassador to…

Mexico’s energy sector has faced a difficult past three years which have seriously dented investor appetite, but the country still offers opportunities and the future could be bright, industry insiders said Tuesday at the Mexico Gas Summit hosted by Industry Exchange LLC in San Antonio, TX. The Woodrow Wilson International Center’s Duncan Wood said that…

“By pausing the renewable energy auctions and pausing the oil auctions, the president has basically given a ‘stay away’ signal to foreign investment in the energy sector,” David Goldwyn, Chairman of the Atlantic Council Global Energy Center’s Energy Advisory Board, told NGI’s Mexico Gas Price Index. Recent policy decisions have “really put into question Mexico’s…

“We are effectively seeing this administration block the participation of private industry in the energy sector across all segments,” Montserrat Ramiro, former Commissioner at Mexico’s Comisión Reguladora de Energia (CRE), told NGI’s Mexico Gas Price Index. “Apparently they think the optimal outcome is total control of the market by state-owned companies. Moreover, they think markets…