Two-thirds of New Renewable Power Cheaper than Coal in 2021 – IRENAAlmost two-thirds or 163 gigawatts (GW) of new renewable power capacity added last year had lower costs than the cheapest coal-fired power plants in G20 countries, a report by the International Renewable Energy Agency (IRENA) showed. Last year, the cost of electricity from onshore

U.S. crude-oil stockpiles are expected to have decreased from the previous week in data due Thursday from the Energy Department, according to a survey of analysts and traders by The Wall Street Journal. Estimates from nine analysts and traders showed U.S. oil inventories are projected to have declined by 1.2 million barrels for the week

$150 oil could still happen, BofA Global Research indicated in a new report sent to Rigzone this week. In the report, BofA Global Research outlined that it sees Brent averaging $102 per barrel this year and in 2023 and highlighted that a potential spike to $150 per barrel could happen if European sanctions push oil

Oil Majors Are Lining Up For The Next Great South American Oil Boom The Guyana-Suriname oil basin may hold much larger reserves than anticipated. Suriname is looking to replicate Guyana’s oil boom through 2030. Low projected breakeven prices and discoveries of light to medium sulfur crude makes Suriname an attractive location for oil majors. The

High LNG exports and warmer weather are the driving forces behind the rally in U.S. natural gas. U.S. natural gas prices have surged by more than 130% since the beginning of the year. The price is currently 3.3 times above the five-year average. U.S. benchmark natural gas prices jumped to above $9 per million British

Centennial Resource Development and Colgate Energy Partners III, LLC have agreed to combine in a $7.0-billion merger of equals, creating the largest pure-play exploration and production (E&P) firm in the Delaware Basin in the Permian, the companies said on Thursday. The combined firm will be the largest pure-play E&P company in the Delaware Basin, with

Global LNG demand will more than double from 356mn tonnes in 2020 to 800mn tonnes by 2050, “fuelled by solid demand from Asia and a rise in gas use for powering hard-to-electrify sectors”, according to the Gas Exporting Countries Forum (GECF). The biggest regasification capacity additions to 2050 are expected in Asia Pacific, GECF said

U.S. natural gas futures fell 10% on Tuesday, in a technical correction aided by a shift to a slightly warmer weather outlook after expectations of a cold snap sent prices soaring to an over 13-year peak in the last session. Front-month gas futures slipped 10% to $7.033 per million British thermal units as of 10:57

The U.S. Energy Information Administration (EIA) forecast in a report on Tuesday that the consumption of natural gas in the country will average 84.1 billion cubic feet per day (Bcf/d) in 2022, up 1 percent from 2021. In its April’s Short-Term Energy Outlook (STEO), EIA said the increase is a result of colder forecast temperatures

U.S. natural gas futures rose about 5% to a near-nine week high on Wednesday as worries about Russia’s plan to price energy exports in rubles caused global energy prices to spike, keeping demand for U.S. LNG exports near record highs. That U.S. gas price gain came despite forecasts for milder weather and lower demand than