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Market Chatter: PBOC Adds More Gold Reserves in Hong Kong to Boost Trading Hub

The People's Bank of China is adding more gold reserves in Hong Kong over the past few months, Bloomberg reported Friday, citing people familiar with the matter.PBOC's move is seen to help the city become a bullion trading hub and also fuels a trend of returning its gold reserves to Hong Kong from London, according to the newswire, citing the sources.The world's central banks store a portion of their gold reserves in London to facilitate lending of the precious metal to commercial banks, Bloomberg said.The People's Bank of China, the State Administration of Foreign Exchange, and Hong Kong's Financial Services and the Treasury Bureau did not immediately respond to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Hang SengShanghai Composite^SZSE

Commodities1d ago

US Natural Gas Update: Futures Fall on Larger-than-Expected Inventory Build

US natural gas futures fell on Thursday, with front-month prices dropping to their lowest level in more than three months after government data showed a larger-than-expected increase in storage, reinforcing the perception of an amply supplied market.The front-month Henry Hub contract and the continuous contract both fell 2.05% to settle at $2.633 per million British thermal units.The US Energy Information Administration reported that working gas in storage increased by 33 billion cubic feet in the week ended July 31. The build exceeded market expectations for a 30 Bcf injection and was well above the five-year average increase of 23 Bcf for the period, underscoring a comfortable supply backdrop.But losses were tempered by forecasts calling for warmer near-term weather across key US demand regions, which could lift natural gas consumption from power generators as air-conditioning use increases. Commodity Weather Group said forecast models shifted warmer on Thursday, with above-average temperatures expected across the Northeast and western US through Aug. 10.Total lower-48 gas consumption was estimated at 83.2 Bcf/d on Thursday, up 7.5% from a year earlier. Celsius Energy said powerburn on Aug. 4 hit 45.8 Bcf, a 2.2 Bcf rise over the same day last year.The market is also looking ahead to additional supply growth next month. Energy Transfer's Hugh Brinson Pipeline is expected to reach its full 1.5 Bcf/d capacity by Sept. 1, increasing the flow of Permian Basin natural gas to the Henry Hub pricing point in Erath, Louisiana.Current production remains robust. Lower-48 dry gas output was estimated at 111.2 Bcf/d on Thursday, up 1.8% from a year earlier, Barchart, citing BNEF data, said. Separately, Trading Economics said Lower-48 production averaged a record 110.7 Bcf/d in July.Meanwhile, net feedgas flows to US LNG export terminals were estimated at 18.5 Bcf/d on Thursday, remaining below full capacity because of scheduled maintenance at liquefaction facilities on the US Gulf Coast. However, LNG feedgas volumes were up 3.3% from the previous week.

Commodities1d ago

Northern Oil and Gas Reports Record Q2 Natural Gas Production, Maintains 2026 Output Outlook

Northern Oil and Gas (NOG) reported Q2 earnings Thursday, showing total production of 145,659 barrels of oil equivalent per day, up from 134,094 boe/d a year earlier.Total net production increased to 13.256 million boe for the quarter ended June 30, up from 12.203 million boe a year earlier.Oil production totaled 6.213 million barrels for the quarter, down from 7.002 million barrels a year earlier, while average daily oil production declined to 68,275 barrels per day from 76,944 b/d.Natural gas production increased to a record 42.254 billion cubic feet in the quarter from 31.204 Bcf a year earlier, while average daily production climbed to 464.3 million cubic feet per day, up from 342.9 MMcf/d in the year-ago quarter.Oil volumes reflected about 7,000 boe/d of temporary well shut-ins and three deferred turn-in lines in certain Permian assets, NOG said.The company added 12.7 net wells to production during the quarter, compared with 13.5 net wells a year earlier, excluding major acquisitions.Appalachian production reached a record during the quarter as the West Virginia joint development program concluded and the Utica joint development contributed a full quarter of production.NOG completed its Duvernay Light Oil joint development on June 1 for total consideration of $262.1 million and closed 30 ground game transactions that added more than 2,300 net acres and 6.2 net wells for $44.7 million, including associated development costs.Northern Oil and Gas maintained its full-year 2026 production guidance at 143,000 boe/d to 148,000 boe/d and annual oil production guidance at 71,500 b/d to 73,500 b/d.The company also reaffirmed total budgeted capital expenditures of $850 million to $900 million and expects to turn 74 to 76 net wells in line this year.

$NOG

Commodities1d ago

US Reportedly Weighs Delay to New Solar Import Tariffs as Industry Braces for Higher Costs

The US is considering delaying the collection of planned tariffs on imported solar products made with polysilicon by up to four months, a move that could trigger a surge in imports before the duties take effect, multiple news outlets reported on Thursday.US officials are reportedly weighing a 90- to 120-day phase-in period for the tariffs, which US President Donald Trump could announce as early as Thursday. The proposal remains under discussion and could change.The new measures would impose minimum import prices and tariffs of at least 15% on polysilicon, as well as solar wafers, cells and panels made from the material. Polysilicon is a key ingredient in most solar panels.A temporary delay would give renewable energy developers an opportunity to import lower-cost equipment before the tariffs raise prices. However, US manufacturers argue that postponing the levies would allow a wave of cheap imports to enter the market, undermining the administration's efforts to rebuild domestic production.The proposed tariffs are part of a broader strategy to expand US production of polysilicon and other solar manufacturing components after China became the world's dominant supplier over the past decade. The administration is also expected to introduce incentives aimed at encouraging companies to build or expand factories in the US.The White House did not immediately respond to a request for comment from.

Commodities1d ago

US Judge Orders Defense Department to Resume Wind Project Reviews

A federal judge ordered the US Defense Department to resume reviews of onshore wind energy projects after granting a preliminary injunction against the agency's review freeze, according to a court ruling issued Thursday.US District Judge Karin Immergut ruled the Defense Department's review freeze likely violated statutory and regulatory deadlines, denied the agency's motion to dismiss, and directed it to restart reviews of proposed wind projects while the lawsuit proceeds.The ruling requires the Defense Department to resume evaluating whether proposed wind projects interfere with military operations and submit status updates to the court every 30 days detailing the progress of those reviews.Sierra Club, which filed an amicus brief supporting the challenge, said the Defense Department's review freeze created a "de facto moratorium" on new wind projects and delayed renewable energy development.The organization also said a separate lawsuit filed by 18 state attorneys general challenging the same review freeze is moving through the courts.

Commodities1d ago

Europe Shifts Toward Nuclear Lifetime Extensions as New Projects Advance, Kpler Says

European countries are increasingly turning back to nuclear power by extending the lives of existing reactors and planning new projects as they seek to strengthen energy security and reduce carbon emissions, Kpler said in a Thursday note.The UK is leading one of the region's most ambitious nuclear plans. Alongside extending the operating lives of its aging reactors, the government is moving ahead with new large nuclear plants and developing small modular reactors.Together, these efforts are intended to help raise the country's nuclear capacity to 24 gigawatts by 2050.Sweden has also changed course after years of phasing out nuclear power. The government now wants reactors to operate for up to 80 years while preparing for a new generation of plants, although significant new capacity is not expected before the mid-2030s.Finland is taking a more cautious approach. The country plans to keep its existing 4.4 GW nuclear fleet operating for longer through license extensions rather than building replacement reactors, leaving overall capacity largely unchanged through 2050.In southern Europe, Spain's plan to shut down all of its nuclear reactors by 2035 is coming under increasing pressure.A government decision on whether to extend the life of the 2-GW Almaraz nuclear plant is expected to set the direction for the rest of the country's fleet. If approved, additional reactors could remain in operation into the 2040s instead of closing under the current schedule.Italy, which shut down its last nuclear reactors in 1990, is also moving toward restarting the industry.The government has begun putting the legal framework in place for new nuclear power and hopes to produce its first electricity from new reactors between 2033 and 2035. However, key decisions on reactor technology, project financing and construction sites have yet to be made, making commercial operation before the late 2030s unlikely.According to Kpler, the different strategies reflect a broader trend across Europe as governments increasingly view nuclear power as an important part of ensuring reliable electricity supplies while meeting climate goals.

Commodities1d ago

US Biofuels Update: Soybean Market's Gains Limited By Wet August Crop Weather

Biofuel feedstock futures closed slightly higher on Thursday, recapturing losses from the previous session.The Chicago Board of Trade November soybean futures contract closed 0.26% higher at $11.77 3/4 per bushel, while the CBOT September soybean oil futures contract settled 0.03% higher at 67.74 cents per pound.The Nymex September ethanol futures contract settled 0.90% lower on Wednesday at $1.93 per gallon.Rhett Montgomery, a DTN analyst, said that a wet forecast across the US grain belt through mid-August is keeping a firm lid on bullish momentum."The soybean market overcame early lows in a similar trade to Wednesday but managed to turn higher by the close. Upside momentum was limited ahead of the August rainfall outlook and what remains the possibility for record-level US soybean production in 2026," Montgomery said.On Thursday, China bought more soybeans. US Department of Agriculture reported sales of 122,000 metric tons of soybeans for delivery to China during the 2026/2027 marketing year.For the week ending July 30, 2026, USDA reported an increase of 1.2 million bushels, or 32,200 mt, of soybean export sales in 2025-26 and an increase of 33.2 mb, or 903,900 mt, for 2026-27.Last week's export shipments of 12.7 mb were below the 16.4 mb needed each week to achieve USDA's export estimate of 1.520 billion bushels in 2025-26. Soybean export commitments now total 1.533 bb in 2025-26 and are down 19% from a year ago.That is ahead of USDA's estimated pace, even as USDA's estimate of US ending soybean stocks is 13% larger than the previous five-year average.Meanwhile, the Senate failed to pass a marked-up Farm Bill on Thursday that included nationwide, year-round sales of E15 gasoline.The committee working on the bill will go into recess until September. Another attempt to pass the Farm Bill out of committee will take place then.

Commodities1d ago

RWE to Exit US Offshore Wind, Shifts Focus to LNG And Gas

RWE US Offshore said on Thursday it had reached a $1.22 billion settlement with the US Department of the Interior to relinquish its offshore wind leases, as the energy firm moves to redeploy capital into US liquefied natural gas and gas-fired power generation.The agreement covers RWE's lease rights in the New York Bight, off the coast of California and off the coast of Louisiana, ending its plans to develop offshore wind projects in the areas after realizing that there was no clear path to securing permits in the US in the near term."After careful consideration, it was determined there is no path forward to permit these projects in the US for the foreseeable future," the utility said in a statement.RWE said the settlement would allow it to redirect capital toward energy projects with greater certainty as the US power sector faces rising electricity demand.The German energy firm had invested over $1 billion in acquiring the leases and advancing development work, including years of planning and engagement with US federal agencies.The company said the settlement resolves its legal claims against the US government and provides funds that will be redeployed into other energy investments.RWE Americas plans to expand investments in natural gas infrastructure and flexible power generation as part of its shift in US strategy.The energy firm said it will invest $900 million to acquire an indirect 16% stake in the Louisiana LNG Project, with proceeds from the settlement expected to support construction of the export terminal.RWE also signed a $300 million turbine reservation agreement to secure future natural gas generation capacity as it develops a pipeline of 15 natural gas peaking projects across US markets.The investments come as utilities and power producers race to add generation capacity to meet surging electricity demand driven by data centers, artificial intelligence, manufacturing growth and broader electrification.RWE Americas said it plans to invest around 17 billion euros ($19.59 billion) in the US over the next six years, increasing its generation capacity from about 13 gigawatts across 27 states currently to 22 GW by 2031.However, despite abandoning the US leases, RWE said it remains committed to offshore wind globally and continues to expand its portfolio. It currently operates 18 offshore wind farms, has four projects under construction, and has secured 6.9 GW of capacity in the latest UK offshore wind auction.

Commodities1d ago

Market Chatter: Russia Boosts July Crude Production as Exports Recover

Russia increased July crude oil and condensate production above 9 million barrels per day as exports recovered, though output can ease in August, Reuters reported Thursday, citing two industry sources.The sources said stronger refinery throughput and firm exports lifted production by about 100,000 b/d from June, but renewed drone attacks on refineries and limited tanker availability in the Black Sea could make it difficult to sustain July's pace.Russia plans to increase crude exports from its western ports in August, the report said. The Bank of Russia earlier said transport and port capacity constraints had restricted crude exports after refinery disruptions.OPEC estimated Russia's oil production at 8.93 million b/d in June, down from 8.99 million b/d in May. Russia's Ministry of Energy and Bank of Russia did not immediately reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Commodities1d ago

India Approves $2.5 Billion Scheme to Expand Compressed Biogas

India's Union Cabinet approved the GOBARdhan National Circular Bioenergy Scheme with an outlay of 23,731 crore Indian rupees ($2.49 billion) to expand compressed biogas production nationwide, the Ministry of Petroleum and Natural Gas said Thursday.The scheme will run from fiscal 2026-2027 through fiscal 2035-2036 and aims to increase domestic compressed biogas production by almost 10 times, while converting agricultural residue, cattle dung and other biomass into clean energy.The ministry structured the program around assured offtake, administered pricing, capital assistance, pipeline connectivity, credit guarantees and ecosystem development to improve project viability and encourage investment across the compressed biogas sector.City gas distribution entities will procure compressed biogas to meet blending obligations of 3% in fiscal 2026-2027, 4% in fiscal 2027-2028 and 5% from fiscal 2028-2029 onward for transport and domestic gas supplies.The government set an administered compressed biogas price of 2,110 Indian rupees per metric million British thermal unit under a 10-year pricing framework.Eligible projects can also receive capital assistance of up to 2 crore Indian rupees per metric ton per day of installed capacity.The scheme will finance pipeline connections linking compressed biogas plants with trunk pipelines and city gas distribution networks.It also establishes a credit guarantee mechanism to improve financing for eligible micro, small and medium-sized enterprise projects, according to the ministry.The government expects the initiative to strengthen energy security, reduce fossil fuel imports, attract private investment, expand rural incomes, improve waste management and increase organic manure production across the country.

Commodities1d ago

US Natural Gas Update: Futures Fall on Larger Inventory Build

US natural gas futures fell as of midday on Thursday after US government data showed a larger-than-expected increase in storage inventories.The front-month Henry Hub contract and the continuous contract both fell 1.19% to $2.656 per million British thermal units.The US Energy Information Administration reported that working gas in storage increased by 33 billion cubic feet in the week ended July 31, exceeding analysts' expectations for a 27-31 Bcf injection.Total inventories rose to 3,117 Bcf, down 12 Bcf from the same period a year earlier but 195 Bcf above the five-year average of 2,922 Bcf. Storage levels remain within the historical range, according to the EIA.Pinebrook Energy Advisors said in a note that inventories continue to widen their surplus over the five-year average, which increased by 22 Bcf during the reporting week.Storage injections have outpaced the benchmark in six of the past seven weeks, with inventory growth exceeding seasonal norms by about 1.2 Bcf per day since the start of the injection season. The 195 Bcf surplus is the widest since August 2025, they said.On the supply side, Gelber & Associates said US dry gas production is running at a strong 110.4 Bcf/d, while Canadian imports are averaging 5.2 Bcf/d, keeping total supply near 115.6 Bcf/d.Demand fundamentals remain supportive, with power-sector consumption holding at 48.8 Bcf/d and LNG feedgas demand reaching 18.6 Bcf/d, Gelber & Associates said.The firm added that current supply-demand balances remain relatively supportive in the near term, although cooling demand is expected to ease as temperatures trend closer to seasonal norms later this month.In the meantime, NatGasWeather.com said most of the US is expected to experience hot to very hot conditions over the next seven days, with highs ranging from the upper 80s to 110 degrees Fahrenheit under strong high pressure.The exception will be the northern Plains, where weather systems are expected to keep temperatures in the 70s and 80s degrees Fahrenheit. Overall, the forecaster expects very strong natural gas demand over the next week.

Commodities1d ago

India July Fuel Consumption Hits 4-Month High on Stronger Petrol, Diesel Demand

India's petroleum product consumption increased to 19.92 million metric tons in July from 19.35 mmt in June, according to provisional data released Thursday by the Petroleum Planning & Analysis Cell.July consumption was the highest so far in fiscal year 2026-27, which began in April 2026, and the strongest monthly demand since March, when consumption reached 20.6 mmt.The agency said July consumption increased 2.9% over the year, supported by 9.2% growth in motor spirit demand and 10% growth in high-speed diesel demand.Liquefied petroleum gas consumption rose to 2.35 mmt in July from 2.19 mmt in June. Naphtha consumption increased to 829,000 mt from 562,000 mt, according to the data.Motor spirit consumption increased to 3.82 mmt in July from 3.78 mmt in June, while high-speed diesel consumption declined to 8.09 mmt from 8.61 mmt last month.Aviation turbine fuel consumption fell to 705,000 mt in July from 730,000 mt in June. Superior kerosene oil consumption increased to 44,000 mt in July from 33,000 mt last month.Light diesel oil consumption increased to 66,000 mt in July from 46,000 mt in June.Lubricants and grease consumption rose to 420,000 mt in July, up from 370,000 mt in June, while fuel oil and low sulfur heavy stock increased to 634,000 mt from 497,000 mt.Bitumen consumption declined to 462,000 mt in July from 556,000 mt in June.Petroleum coke consumption increased to 1.66 mmt from 1.43 mmt last month, while other petroleum products rose to 841,000 mt from 544,000 mt, the data showed.The Petroleum Planning & Analysis Cell classified the July figures as provisional and said the estimates combine domestic sales by oil companies with prorated direct imports by private parties, which remain subject to revision after actual data become available.

Commodities1d ago

EMEA Natural Gas Update: Futures Jump as Supply Concerns Overwhelm Peace Progress

European natural gas futures rose sharply in after-hours trading on Thursday as negotiations over commercial shipping through the Strait of Hormuz continued beyond the timeframe US Treasury Secretary Scott Bessent had forecast earlier this week, and supply concerns took center stage.The front-month Dutch TTF contract climbed 8.102% to 56.650 euros ($65.26) per megawatt-hour, while the front-month UK NBP contract rose 8.911% to 139.450 British pence ($1.88) per therm.The gains followed Wednesday's decline to a three-week low, Trading Economics said, driven by optimism about talks to resolve the Middle East crises and restore normal traffic through the Strait of Hormuz. On Thursday, prices rebounded on persistent concerns about supply risks.Iran and Oman are nearing a final understanding on a commercial shipping route through the Strait of Hormuz, Iranian Foreign Ministry spokesperson Esmaeil Baqaei said Thursday, according to a Ministry of Foreign Affairs Telegram post. The proposed framework would give Tehran control over ships entering the Gulf through the strait, Reuters reported, citing officials familiar with the matter.Shipping through the strait would face "no fees or tolls" under the temporary agreement between Iran and Oman, an Iranian government official said, according to multiple news outlets. The official also reportedly said the United Nations' International Maritime Organization and the US would participate in announcing the agreement.A separate Gulf government official said the arrangement has been endorsed by members of the Gulf Cooperation Council.Meanwhile, European gas inventories were 57.87% full, compared with 69.96% during the same period last year, according to Gas Infrastructure Europe. Storage levels were also well below the five-year average of 74.4% for this time of year, according to the Swiss Federal Office of Energy.Timera Energy said European storage is entering the winter refill season at depleted levels and warned that the longer the Strait of Hormuz remains restricted, the further prices will need to rise along an increasingly inelastic demand curve to bring the market back into balance.Extreme heat across Europe is also limiting efforts to rebuild gas inventories. Italy placed all of its major cities under the highest heat alert on Thursday as a severe heatwave swept across the continent, setting a national temperature record in Austria, fueling wildfires in France and disrupting energy and transport systems, Euronews reported.Looking ahead, Atmospheric G2 said in a Thursday social media post that its latest seasonal forecast suggests a wetter turn in Europe beginning around October-November, with Atlantic weather patterns becoming more influential through the fall and into winter. A strong El Nino is expected to persist into winter, creating a generally milder, wetter, and windier backdrop across Europe, conditions that typically point to lower energy demand overall.

Commodities1d ago

BP Takes Full Ownership of Trinidad's Calypso Gas Project

BP (BP) agreed to acquire Woodside Energy's 70% interest in Block Trinidad and Tobago Deep Atlantic Area 14, increasing its ownership to 100% and assuming operatorship, the company said Thursday.Block TTDAA 14 contains the Calypso project, an early-stage deepwater natural gas development offshore Trinidad and Tobago.With extensive oil and gas infrastructure already in Trinidad and Tobago, BP is the country's largest supplier of natural gas to the domestic market and holds a 45% stake in the Atlantic LNG facility off the southwest coast, the company said."By building on the strengths of our existing operations and infrastructure, we have the potential to unlock new production and support long-term growth in the region," said Gordon Birrell, BP executive vice president, upstream.The companies expect to complete the transaction by the end of 2026, subject to approvals from the Trinidad and Tobago government and regulators.Price: $42.08, Change: $+0.87, Percent Change: +2.11%

$BP

Commodities1d ago

US Finalizes $489.4 Million Loan for Puerto Rico Grid Project

The US Department of Energy's Office of Energy Dominance Financing finalized a $489.4 million loan to support battery energy storage projects in Puerto Rico, according to a statement on Wednesday.The move is expected to lower electricity costs, improve grid reliability and strengthen the island's energy security.The financing, provided through the DOE's Office of Energy Dominance Financing, will go to Amanecer Puerto Rico, a unit of Pattern Energy.The Department said the investment is expected to save Puerto Rican households and businesses about $312.5 million in electricity costs over the next 25 years.The facility will fund 220 megawatts of battery energy storage systems in the municipalities of Arecibo and Santa Isabel using US-manufactured battery technology and domestic supply chains, the DOE said.The storage systems will be capable of providing backup electricity for over 100,000 customers during power shortages and could help avoid about 13 million customer interruption hours based on 2025 operating data.The DOE said the financing also creates a pathway for future development of natural gas-fired generation to improve the stability of Puerto Rico's electricity system and strengthen the island's long-term energy security.Puerto Rico's electricity grid has suffered years of chronic outages and prolonged service interruptions. Its aging grid has remained vulnerable to hurricanes, earthquakes and equipment failures despite ongoing reconstruction efforts.The department said the loan complements broader administration efforts to improve Puerto Rico's power system, including emergency orders issued since 2025 to authorize additional electricity generation, as well as support for transmission maintenance ahead of periods of peak demand and hurricane season.

Commodities1d ago

Sempra Advances $13 Billion Expansion Plan as Texas Grid Surge Fuels Growth

Sempra (SRE) reported Q2 earnings on Thursday, as the energy firm accelerates capital deployment, investing over $6 billion in H1 2026 as part of a broader $13 billion annual target aimed at modernizing and expanding its critical energy infrastructure.The company's Texas utility, Oncor, secured regulatory approval from state grid operator ERCOT for over $7 billion in new transmission projects, bolstering visibility on its $10 billion in incremental capital opportunities through 2030.Oncor's interconnection backlog has grown to 298 gigawatts, with 44 GW of customer requests currently under ERCOT evaluation in the so-called "Batch Zero" process, representing a potential 140% increase over Oncor's 31 GW peak demand.Meanwhile, Sempra's California utilities, SDG&E and SoCalGas, filed their 2028 General Rate Case applications, seeking higher revenues to support wildfire mitigation, electric reliability, and pipeline integrity investments.The filings propose a two-part mechanism to share productivity gains with customers while preserving the ability to outperform return-on-equity targets.SDG&E is targeting requests of $3.8 billion for Test Year 2028, scaling to $4.6 billion by 2031, while SoCalGas's requested base revenues span from $5.1 billion to $6 billion over the same horizon.Oncor's electricity deliveries rose 5.6% to 44.6 billion kilowatt-hours in Q2, compared with 42.2 billion kWh a year ago.Oncor's customer base expanded, with total electric customer meters increasing to 4.141 million in the six months to June 30, up from 4.084 million a year ago.Total electricity deliveries at Sempra California rose 4.8% to 3.89 billion kWh in Q2, compared with 3.71 billion kWh for the corresponding period a year earlier.Community Choice Aggregation and Direct Access volumes, which represent electricity supplied by third-party providers over the utility's transmission and distribution network, climbed to 3.3 billion kWh from 3.1 billion kWh.However, gas demand in California weakened. Total natural gas deliveries fell to 174 billion cubic feet during the quarter, down from 189 Bcf a year earlier. Gas sales declined to 68 Bcf in Q2, down from 75 Bcf, while transportation volumes fell to 106 Bcf from 114 Bcf.Despite lower gas throughput, Sempra California's customer base continued to expand. Total gas customer meters increased to 7.15 million as of June 30 from 7.14 million a year earlier. Electric customer meters increased to 1.55 million from 1.54 million.Price: $84.76, Change: $+0.10, Percent Change: +0.12%

$SRE

Commodities1d ago

Targa Q2 Natural Gas Liquids Production, Inlet Volumes Rise; Growth Projects Advance

Targa Resources (TRGP) reported Q2 earnings Thursday, showing total natural gas liquids production of 1.181 million barrels per day, up from 1.025 million b/d a year earlier.Total plant natural gas inlet volumes increased to 8,908.9 million cubic feet per day for the quarter ended June 30, up from 7,894.0 MMcf/d a year earlier.Total Permian plant natural gas inlet volumes rose to 7,187.3 MMcf/d in Q2, up from 6,278 MMcf/d a year earlier, while total Permian natural gas liquids production increased to 1.007 million b/d from 856,800 b/d.Permian Midland inlet volumes increased to 3,393.5 MMcf/d in the quarter from 3,106.2 MMcf/d a year earlier. Natural gas liquids production volumes rose to 506,100 b/d from 450,100 b/d.Permian Delaware inlet volumes climbed to 3,793.8 MMcf/d from 3,171.8 MMcf/d a year earlier. The production volumes for natural gas liquids increased to 500,800 b/d from 406,700 b/d.Central region plant natural gas inlet volumes declined to 1,010.3 MMcf/d in Q2 from 1,086.3 MMcf/d a year earlier, while natural gas liquids production edged down to 118,300 b/d from 120,200 b/d.For the Badlands region, plant natural gas inlet volumes increased to 133.8 MMcf/d in Q2 from 130.9 MMcf/d a year earlier, while the production volumes for natural gas liquids rose to 16,900 b/d from 16,600 b/d.For the Coastal region, plant natural gas inlet volumes climbed to 577.5 MMcf/d in Q2 from 398.8 MMcf/d a year earlier, while natural gas liquids increased to 38,700 b/d from 31,600 b/d.Natural gas sales increased to 3.08 billion British thermal units per day for the quarter, up from 2.82 billion Btu/d a year earlier.Natural gas liquids sales in the gathering and processing segment increased to 680,800 b/d in Q2 from 606,400 b/d a year earlier. For the logistics and transportation segment, natural gas liquids sales rose to 1.311 million b/d from 1.151 million b/d.Condensate sales increased to 22,400 b/d in Q2, up from 20,100 b/d a year earlier.Crude oil gathered climbed to 143,800 b/d for the quarter, up from 116,500 b/d in the year-ago quarter.In the logistics and transportation segment, natural gas liquids pipeline transportation volumes increased to 1.099 million b/d for the quarter, up from 961,200 b/d a year earlier.Fractionation volumes rose to 1.206 million b/d from 969,100 b/d, while liquefied petroleum gas export volumes increased to 487,100 b/d from 423,100 b/d.The company maintained its full-year 2026 estimate for net growth capital expenditures of about $4.5 billion and net maintenance capital expenditures of about $250 million.The company commenced operations of the Train 11 fractionator, the Delaware Express NGL Pipeline expansion and the East Driver processing plant during the quarter.Targa continues to advance the Copperhead, Yeti, Yeti II, Roadrunner III and Copperhead II processing plants, with construction remaining on schedule, according to the company.The company also continues to build the Train 12 and Train 13 fractionators, the Speedway NGL Pipeline, the GPMT LPG Export Expansion, and the Bull Run, Buffalo Run and Forza intra-basin residue gas pipeline projects, with all projects remaining on schedule.Price: $270.42, Change: $+10.31, Percent Change: +3.96%

$TRGP

Commodities1d ago

Keyera Q2 Gas Processing Throughput, Sales Volumes Rise; Reaffirms 2026 Capital Plan

Keyera reported Q2 earnings Thursday, with gross gas processing throughput increasing to 1,615 million cubic feet per day, up from 1,543 MMcf/d a year earlier.Net processing throughput rose to 1,406 MMcf/d for the quarter ended June 30, up from 1,400 MMcf/d in the year-ago quarter.Liquids infrastructure gross processing throughput declined to 153,000 barrels per day for Q2, down from 163,000 b/d, while the net processing throughput declined to 78,000 b/d, down from 94,000 b/d a year earlier.The company produced 4,000 b/d of iso-octane in the quarter, down from 8,000 b/d a year earlier.Sales volumes for Q2 2026 increased to 303,200 b/d, up from 199,400 b/d for the same quarter last year.Keyera reaffirmed its 2026 outlook, maintaining growth capital spending of CA$650 million ($463.7 million) to CA$725 million and maintenance capital expenditures of CA$240 million to CA$260 million.Keyera completed the KFS Frac II debottleneck project in early June, bringing an additional 8,000 b/d of fractionation capacity online more than one month ahead of schedule and about 20%, or CA$17 million, below its original budget.The company continues to advance the Keyera Fort Saskatchewan North Debottleneck, Alberta Corridor Energy Rail Terminal, Key Access Pipeline System Zone 4 and Keyera Fort Saskatchewan South Fractionation Unit III.Keyera also closed its acquisition of Plains' Canadian natural gas liquids business and the remaining 50% interest in KAPS during the quarter.

Commodities1d ago

Cheniere Energy LNG Exports Rise 22% in Q2

Cheniere Energy (LNG) on Thursday reported Q2 2026 export volumes rose 22% to 672 trillion British thermal units from 550 TBtu in the same quarter in 2025. For the first half, export volumes rose 17% to 1,360 TBtu over 1,158 TBtu in the same period a year prior.The US LNG exporter shipped 184 cargoes during the second quarter ended June 30, up from 154 cargoes a year earlier. For the first six months of 2026, cargoes increased to 371 from 322 in the prior-year period.Cheniere said it raised the lower end of its 2026 production forecast, tightening its expected output range to 53 million to 54 million tonnes, compared with its previous guidance of 52 million to 54 million tonnes.The company said it achieved substantial completion of Midscale Train 6 at its Corpus Christi Liquefaction Stage 3 project in June, following the completion of Midscale Trains 1 through 4 in 2025 and Midscale Train 5 in March 2026. Cheniere added that first LNG production from Midscale Train 7 is expected imminently.Also in June, the Federal Energy Regulatory Commission authorized an increase in LNG production capacity for the CCL Stage 3 project and the CCL Midscale Trains 8 and 9 project by a combined approximately 5 million tonnes per annum.Separately, in May, Sabine Pass Liquefaction Stage V LLC, a subsidiary of Cheniere Energy Partners, signed a lump-sum turnkey engineering, procurement and construction contract with Bechtel Energy for the first phase of the Sabine Pass LNG expansion project. The company has authorized Bechtel to begin early engineering and procurement activities under a limited notice to proceed.Chief Executive Jack Fusco said the quarter was marked by the completion of Midscale Train 6 and continued progress toward a final investment decision for Phase 1 of the Sabine Pass expansion project.Price: $261.90, Change: $+7.14, Percent Change: +2.80%

$LNG

Commodities1d ago

Evergy Q2 Total Electricity Sales Fall, Expands 5,144-MW Resource Plan

Evergy (EVRG) reported Q2 earnings Thursday, showing total electricity sales of 13.639 million megawatt-hour, down from 14.125 million MWh a year earlier.Residential electricity sales increased to 3.699 million MWh for the quarter ended June 30, up from 3.548 million MWh in the year-ago quarter.Commercial electricity sales climbed to 4.809 million MWh in Q2, up from 4.501 million MWh, while industrial sales rose to 2.151 million MWh from 2.077 million MWh.Total retail electricity sales rose to 10.680 million MWh in Q2, up from 10.149 million MWh a year earlier. Wholesale electricity sales fell to 2.959 million MWh from 3.976 million MWh.Evergy Kansas Central recorded total electricity sales of 7.057 million MWh in Q2, compared with 7.412 million MWh a year earlier.For Evergy Kansas Central, total retail electricity sales increased to 4.903 million MWh from 4.671 million MWh, while wholesale electricity sales declined to 2.154 million MWh from 2.741 million MWh.Evergy Metro reported total electricity sales of 4.337 million MWh in the quarter, compared with 4.583 million MWh a year earlier.Total retail electricity sales for Evergy Metro rose to 3.663 million MWh from 3.472 million MWh, while wholesale electricity sales fell to 674,000 MWh from 1.111 million MWh.Evergy Missouri West posted total electricity sales of 2.245 million MWh in Q2, up from 2.132 million MWh in the year-ago quarter.Total retail electricity sales for Evergy Missouri West increased to 2.114 million MWh from 2.007 million MWh, while wholesale electricity sales edged up to 131,000 MWh from 125,000 MWh."We remain on track to meet our expectations for the year after delivering solid second quarter financial performance," said David Campbell, Evergy chairman and chief executive officer.Evergy updated its resource expansion plan, which includes 5,144 MW of new generation and storage capacity comprising 3,920 MW of natural gas, 774 MW of solar and 450 MW of battery storage. The projects would add about $1 billion to its previously announced five-year capital plan.Price: $83.57, Change: $+0.51, Percent Change: +0.61%

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Commodities1d ago

Targa Q2 Natural Gas Liquids Production, Inlet Volumes Rise; Growth Projects Advance

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