Mike Wood

ICYMI: A study by Guidehouse Insights forecasts 5.2% annual growth in flexible distributed energy resources (DER), reaching 253 GW in 2033. L’article Flexible DER capacity to reach 253 GW worldwide by 2033 est apparu en premier sur energynews.

Claudia Sheinbaum to Strengthen Control Over Pemex and Electricity Utility https://lnkd.in/d9eaWZZp Claudia Sheinbaum, the Mexican President, is poised to significantly reshape the country's energy landscape through new legislation aimed at strengthening control over Pemex and the national electricity utility. This article delves into the implications of her policies and the expected outcomes for Mexico’s energy sector. Background on Pemex and the National Electricity Utility Claudia Sheinbaum’s approach to the energy sector begins with a clear understanding of Pemex, Mexico's state-owned oil and gas company. Pemex, short for Petróleos Mexicanos, plays a crucial role in the country's energy landscape, supplying about a third of the federal government’s revenue. As a key player, the corporation is involved in the exploration, production, and distribution of hydrocarbons across Mexico. Similarly, the national electricity utility, known as Comisión Federal de Electricidad (CFE), is significant in providing electricity to millions of Mexicans. Both Pemex and CFE are fundamental components of Mexico's energy policy, and under Sheinbaum's administration, their roles might shift significantly with the anticipated legislation. The Legislation and its Objectives The new legislation set to be approved aims to bolster Pemex control by enhancing the role of state-owned enterprises in the energy sector. The objectives of this legislative push include: - **Energy Reform:** Strengthening the state’s position in energy production and distribution. - **Supporting State-Owned Enterprises:** Fostering growth in companies like Pemex and CFE, which have faced challenges from private sector competition. - **Ensuring Energy Security:** Aiming for self-sufficiency in energy by reducing dependency on foreign investments and imports. The legislation reflects a broader strategy to pivot towards a more nationalistic energy policy, aligning with Sheinbaum's vision of prioritizing Mexican resources and companies. Implications of Sheinbaum's Policies on Pemex As we analyze Claudia Sheinbaum's legislation to control Pemex and electricity, it's clear these changes could reshape Mexico's energy landscape for years to come. By reinforcing Pemex's status, Sheinbaum is likely to prioritize national interests over foreign investment. Some potential benefits include: - **Increased Revenue for the State:** A stronger Pemex could lead to higher oil production, contributing more to the federal budget. - **Job Creation:** With a focus on state-owned enterprises, there could be new job opportunities within Pemex and CFE. However, there are also drawbacks to consider, such as potential inefficiencies typical of state-run monopolies, which might hinder innovation and progress within the industry. The Impact on Mexico's Energy Policy The upcoming legislation aligns closely with the She...

DUKE ENERGY TO POTENTIALLY REVISIT COAL PLANS Duke Energy to Revisit Coal Plans If Trump Axes Pollution Rules https://hubs.la/Q02XyTcY0 Duke Energy Corp. said it would consider shifting its plans for coal plants if Donald Trump follows through on his promises to terminate rules that stifle power-plant pollution. #dukeenergy #energyindustry #coalplans #coal #pollution #energynews #oilandgasindustry #trump

Since expanding to include OPEC members Iran and UAE at the beginning of 2024, BRICS' energy footprint has increased significantly. Saudi Arabia was also invited to join but has yet to confirm membership. The group accounts for 41% of global oil production and 35% of global oil consumption, if Saudi volumes are included. Analysts see de-dollarizing trade, including of oil, as a potential growth area for cooperation within the group. Some member countries have identified this as a strategic priority, but non-dollar denominated crude trading faces barriers, including which alternative currency to choose, issues relating to currency convertibility, and exposure to currency exchange rate fluctuations. #BRICS #energy Click and see more https://lnkd.in/eSiCy6fZ

Natural Gas Futures Tumble on EIA Storage Miss, While Production Points Higher; Cash Tanks https://ift.tt/VJsYmRI July Nymex natural gas futures were lower Thursday as the latest storage data surprised with a larger-than-anticipated injection and as producers appear to be hiking output in preparation for the summer. At A Glance: July futures down 9.4 cents EIA prints 84 Bcf build Some shut-in production returning After sharper losses in a knee-jerk response to the storage print, the fresh prompt-month contract settled at $2.572/MMBtu, down 9.4 cents on its first day in the lead position. It added to the prior day’s 15.9-cent routing. With Thursday’s decline, “the July contract has now retraced over 50% of its move up from the year’s low in February,” analysts with Gelber & Associates said. NGI’s spot gas National Avg. also tumbled, sinking 12.0 cents to $1.445, coinciding with calls for mild high temperatures for a large swath of the Lower 48 in the coming days. The U.S. Energy Information Administration (EIA) reported an 84 Bcf injection into storage for the week ended May 24. The build was below the five-year average hike of 104 Bcf and the 106 Bcf increase recorded for the year-earlier period.  The print marked the fifth straight lighter-than-average weekly injection and brought inventories to 2,795 Bcf. That is 380 Bcf higher than the same week last year and 586 Bcf above the five-year average of 2,209 Bcf. It missed most expectations coming into the day. A Reuters survey of 12 analysts produced a 78 Bcf median injection, and a Bloomberg survey generated a 77 Bcf median. NGI modeled a spot-on 84 Bcf injection.  Though storage was a bullish surprise against most expectations, NatGasWeather meteorologist Rhett Milne said other factors, including increased natural gas production, contributed to the retreat.  However, he noted, “There’s still enough heat over the southern United States, as well as a tight enough supply/demand balance, that surpluses will continue gradually decreasing in June from about 600 Bcf toward 500 Bcf.” Early estimates from Reuters for the week ending May 31 ranged from additions of 73 Bcf to 95 Bcf, with an average increase of 86 Bcf. That compares with an increase of 105 Bcf during the same week last year and a five-year average increase of 103 Bcf. Power Burn Rises NatGasWeather said the latest weather data suggests light national demand through the weekend before rising next week as most of the country warms to above-normal temperatures, with highs in the 80s over much of the Midwest, Ohio Valley, and East.   Wood Mackenzie data showed that power burns averaged 32.6 Bcf/d over the recent seven days and is expected to average 36.3 Bcf/d in the coming week. Wood Mackenzie analyst Eric McGuire said, “Even though power burns are starting to increase as we move into summer, we expect to see larger injections in the coming three weeks.”  He attributed the outlook to the ramp-up of production, “which...

The U.S. Energy Information Administration (EIA) has just released a report indicating an injection of 40 Bcf natural gas into storage for the week ended Sept. 6. The figures fell short of expectations and historical norms, which is considered bullish for Nymex natural gas futures. Start your Winter energy plan review here: https://lnkd.in/gnfqBNZe #EIA #EnergySector #NaturalGas #MarketUpdate

Sempra Doubling LNG Export Capacity Ahead of Forecast Demand Surge https://ift.tt/KchMptF Sempra is betting on substantial growth in global LNG demand over the coming years despite regulatory uncertainty over the future of U.S. exports, management said. CEO Jeffrey Martin hosted a conference call to discuss first quarter 2024 earnings for the San Diego, CA-based energy firm. Through its Sempra Infrastructure unit, the company has nearly 40 million metric tons/year (mmty) of liquefied natural gas export projects under development, including on the U.S. Gulf Coast and Mexico’s Pacific Coast. [Get Better Intel: Where are natural gas prices in Canada heading in the next few years? NGI’s Forward Look now includes Westcoast Station 2! Don’t delay in getting critical natural gas price data. Request a trial now.] The company is “supporting global demand for energy security…in the midst of a second wave of LNG developments expected to support over 700 mmty of demand by 2050,” said Martin. “Our dual coast LNG strategy is contributing to this push with approximately 16 mmty of new export capacity currently under construction, which would more than double our existing LNG operating footprint.” He said Sempra’s growth forecasts for LNG are based solely on projects that have reached final investment decision (FID) and are under construction, “and doesn’t yet include expected upside from a series of other projects still in development.” Construction of the Energía Costa Azul (ECA) LNG Phase 1 in Mexico and Port Arthur LNG Phase 1 in South Texas remain on schedule, Sempra management said. ECA Phase 1 is expected to start commercial operation in summer 2025. Trains 1 and 2 and Port Arthur LNG Phase 1 would start in 2027 and 2028, respectively. Sempra also is planning a second phase of Port Arthur and an expansion of the existing Cameron terminal, though FID has not been reached. In Mexico, Sempra also has plans to expand ECA beyond the initial first phase, and to sanction the Vista Pacifico terminal in partnership with state power utility Comisión Federal de Electricidad (CFE). DOE Pause Not Impacting Confidence CFO Karen Sedgwick downplayed the potential impacts of the U.S. Department of Energy’s (DOE) pause on new approvals for LNG export projects targeting non-free trade agreement (FTA) countries. “The LNG market is long-term by nature, and while the DOE pause has received a lot of press, we remain confident in our ability to deliver projects that offer long-term, secure and cleaner energy to customers,” Sedgwick said. “Sempra Infrastructure benefits from experienced project development teams that continue to make progress on critical work streams, including permitting, engineering and commercial negotiations.  “Moreover, the…pause has not impacted our confidence in the overall competitive positioning of our development projects, and we’re strategically utilizing this time to steadily advance our opportunities.” She added, “ev...

ICYMI: Turkey Facing the Expiration of Major Gas Contracts in 2025-2026 L’article Turkey Facing the Expiration of Major Gas Contracts in 2025-2026 est apparu en premier sur energynews.

Argentina’s crude oil and natural gas production near record highs. Crude oil and natural gas production in Argentina are both nearing record highs, driven by increasing output from the Vaca Muerta shale formation, which is offsetting declining output from conventional oil and natural gas fields. From January 2021 through September 2024, crude oil production in Argentina increased by 50%, and natural gas production rose by 27%, lifting output of both fuels near the records set in the early 2000s, according to data from the country’s energy ministry, the Secretaría de Energía de la República Argentina (SESCO). http://ow.ly/9rxZ105QOX1