Price Watch
A daily bulletin about oil and gas
The Futures
Oil and gas prices are more than numbers—they reflect global events, technological advancements, and environmental concerns.
Horizon Energy Digest
BP to sell Houston-based onshore wind business as oil production grows
BP has announced the sale of its onshore wind energy business in Houston to focus on other renewable interests. BP Wind Energy, with a capacity of 1.7 gigawatts, can power over a million homes annually. Despite this shift, BP plans to increase its oil production in Texas and the Gulf of Mexico, investing heavily in quick-return opportunities. The company faces criticism for not meeting its climate goals, despite its climate change campaigns.
Kimmeridge Texas Gas, Commonwealth LNG sign deal with Glencore
Kimmeridge Texas Gas (KTG) and Commonwealth LNG LLC have partnered with Glencore Ltd. in a strategic agreement for natural gas and LNG. Glencore will purchase 2 million tons of LNG annually for 20 years from Commonwealth, along with an equivalent supply of natural gas from KTG. The final investment decision for the 9.5 million tons per year LNG plant in Cameron Parish, Louisiana, is expected in the first half of 2025, with initial LNG production anticipated in 2028.
Curious Minds Corner
Question of the week
What is the primary component of natural gas?
The first person to answer the week’s question wins a reward from LDV Consulting. Good Luck!