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10 Top Natural Gas Producers by Country (Updated 2022)

Natural gas is an essential energy fuel for the global economy. Which countries are leaders in natural gas production?Natural gas is an important energy fuel, even as the world transitions to a carbon-free economy. When investing in this market, it's key to know the ins and outs of natural gas production by country.Global natural gas production increased by nearly 5 percent to reach a record 4.04 trillion cubic meters in 2021, according to data from Statista. Russia currently ranks as the world’s second largest natural gas producer and is the leading exporter of the fuel.Last year, Russia’s natural gas exports came in at 202 billion cubic meters of gas via pipelines, and 39.6 billion cubic meters of liquified natural gas (LNG). But the war in Ukraine may change that — Russia has...

Published on 12/22/2022 (40 days ago) Oil/Gas

 

U.S. Buying 3 Million Oil Barrels For Reserves—Suggesting End To Gas Price Crisis

The Department of Energy announced Friday it would purchase 3 million barrels of oil to replenish the U.S. strategic reserve and strengthen energy security, as oil (and related gas) prices have dropped since the summer, when the administration tapped the reserve to counter an energy crisis sparked in part by Russia’s invasions of Ukraine.The purchase, following an announcement by President Joe Biden in October, is an opportunity to buy the oil at a fixed price before repurchasing it for less than the average of $96 it sold for, the Department of Energy said in a statement.Secretary of Energy Jennifer Granholm noted in May that the buyback process would coincide with lower oil prices—and consequently lower gas prices—which spiked following Russia’s invasion of Ukraine in February.On Friday,...

Published on 12/19/2022 (43 days ago) Oil/Gas

 

A trail of oil: Keystone pipeline's history of oil spills

(Reuters) -Canada's TC Energy Corp shut its Keystone pipeline in the United States after more than 14,000 barrels of crude oil spilled into a creek in Kansas, the largest crude spill in the United States in nearly a decade.The 622,000 barrel-per-day pipeline is a critical artery shipping heavy Canadian crude from Alberta to refiners in the U.S. Midwest and the Gulf Coast. It is unclear how long the closure will last.There have been several spills on the line since it began operating in 2010. The following is a timeline of some of Keystone's biggest oil spills, along with recent other spills of crude, both onshore and offshore.2011May: TC shut the pipeline for six days after a spill of about 500 barrels of oil due to a failed fitting at a North Dakota pumping station.2016April: TC shut down...

Published on 12/9/2022 (53 days ago) Oil/Gas

 

Sale jumpstarts floating, offshore wind power in US waters

PORTLAND, Ore. -- Tuesday marks the first-ever U.S. auction of leases to develop commercial-scale floating wind farms, in the deep waters off the West Coast.The live, online auction for the five leases — three off California’s central coast and two off its northern coast — has attracted strong interest and 43 companies from around the world are approved to bid. The wind turbines will float roughly 25 miles offshore.The growth of offshore wind comes as climate change intensifies and need for clean energy grows. It also is getting cheaper. The cost of developing offshore wind has dropped 60% since 2010 according to a July report by the International Renewable Energy Agency. It declined 13% in 2021 alone.Offshore wind is well established in the U.K. and some other countries but is just...

Published on 12/8/2022 (54 days ago) Oil/Gas, Solar, Wind & EV's

 

OPEC+ keeps output unchanged amid uncertainty over fallout from Western price caps on Russian oil

The OPEC+ announced Sunday that the cartel of oil exporting nations will maintain current production targets, citing uncertainty about newly announced Western price caps on Russian oil sales. Saudi-led OPEC and its allied exporters, led by Russia, agreed to cut production by 2 million barrels a day in October, angering the White House as the U.S. grappled with high gas prices weeks before the midterm elections. Oil and gasoline prices have fallen significantly since then for various reasons. OPEC+ said Sunday that its October production cut has been "recognized in retrospect by the market participants to have been the necessary and the right course of action towards stabilizing global oil markets."The two Western measures aimed at limiting (but not ending) Russian oil exports during its...

Published on 12/8/2022 (54 days ago) Oil/Gas

 

Oil field services industry adds over 2,300 U.S. jobs in November, according to trade grou

Companies that provide equipment, labor and technology for oil and gas drilling continue to add workers, but employment in the oil-field services sector remains below pre-pandemic levels.In November, employment in oil field services and equipment ticked up by more than 2,300 jobs nationwide to 645,486, according to preliminary federal data analyzed by the industry group Energy Workforce and Technology Council.  READ FULL ARTICLE...

Published on 12/8/2022 (54 days ago) Oil/Gas

 

'Green gas' finds a home in Houston

What do Texas wind and solar farms have in common with clouds of pollution hanging in the air over its industrial hubs? When combined, the two could form an energy source for the future.Tree Energy Solutions is joining a growing list of energy companies putting down roots in an evolving hydrogen ecosystem in Houston. The Belgian company has based its North American subsidiary, TES Americas, in Houston and aims to make synthetic natural gas by combining carbon dioxide captured from the atmosphere along the Gulf Coast with green hydrogen made from renewable electricity. The resulting “green gas,” which the company also calls ENG, can be used anywhere natural gas is used — in the same pipelines, power generators, liquefied natural gas facilities and cargo ships.  READ FULL ARTICLE...

Published on 12/8/2022 (54 days ago) Oil/Gas

 

Higher Ethanol Mandates Are A Lose-Lose For Americans

This week the Environmental Protection Agency proposed higher mandated volumes and percentage shares for the amounts of ethanol and biodiesel used in America’s fuel supply, with public comments due by Feb. 10.At a time when President Biden is pushing the nation towards electric vehicles, and when he seeks lower gasoline prices for drivers, it makes no sense to increase the amount of ethanol required to be used.Ethanol reduces gas mileage for drivers and raises the price per gallon, because refiners are required to purchase renewable fuel standard (RFS) compliance credits, called renewable identification numbers (RINs), which add to the price of gasoline.Philadelphia Building and Construction Trades Council Business Manager Ryan Boyer, in a letter to President Biden, stated, “RIN prices...

Published on 12/8/2022 (54 days ago) Oil/Gas

 

Russia says 'dangerous' price cap won't curb demand for its oil

(Reuters) -Russia said on Saturday it would continue to find buyers for its oil, despite what it said was a "dangerous" attempt by Western governments to introduce a price cap on its oil exports.A coalition of Western countries led by the G7 group of nations agreed on Friday to cap the price of Russian seaborne oil at $60 a barrel, as they aim to limit Moscow's revenues and curb its ability to finance its invasion of Ukraine.Russia has repeatedly said it will not supply oil to countries that implement the cap - a stance reaffirmed by Mikhail Ulyanov, its ambassador to international organisations in Vienna, in posts on social media."Starting from this year Europe will live without Russian oil," he said.In comments published on Telegram, Russia's embassy in the United States criticised what...

Published on 12/8/2022 (54 days ago) Oil/Gas

 

With record profits and rising stock prices, the oil industry has its swagger back – at least for now

Another quarter of record profits. Another quarter of rising stock prices. Another quarter of happy investors.The oil and gas industry, riding the highest prices in nearly a decade, has its swagger back – again the indispensable player in a world desperate for energy. After years on the defensive as a fading industry that could no longer deliver for shareholders, the oil and gas sector is capitalizing on its advantage, showering investors with returns, pressing its policy agenda in Washington, and rebuffing the entreaties of President Joe Biden to significantly increase production to ease high prices.But, analysts say, oil companies should enjoy the moment. As executives bask in the glow of short-term profits – much of them driven by Russia’s war against Ukraine – the industry faces the...

Published on 12/8/2022 (54 days ago) Oil/Gas

 

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