#WTI is down $1.68 to $68.28/bbl
#Brent is down $1.79 to $74.12/bbl
#NatGas is up 5.1c to $2.205/MMBtu
#Oil prices are heading for a #weeklygain, but they fell earlier today due to concerns about the banking sector and the Fed's interest rate hike.
The U.S. is unlikely to refill the Strategic Petroleum Reserve (#SPR) in 2023 despite low prices, as it would be difficult to do so at the administration's stated price range of $70/Bbl. Maintenance at two SPR sites and an ongoing crude sale mandated by Congress also pose challenges.
#NatGas prices are trading higher today but are headed for a third consecutive #weeklyloss. Cooler weather forecasts and rising gas #flows to #Freeport #LNG and declining flows to Calcasieu pass are some of the factors #affecting natural gas prices.
#Demand for #NatGas in #Europe is recovering as prices fall, mainly in the refining and petrochemical sectors. This could potentially #draw down gas #storage and require #larger #imports of #LNG.
#California's #hydro generation outlook is much better than in 2022, as #recordrain and snowfall have boosted reservoir and snowpack levels. This should lead to significantly #increased #power generation from the #hydroelectric sector and #reduced #natgas usage this summer in California's power sector.
https://www.youtube.com/watch?v=_RDiAdeFPcE
New Age of Rocketry 85% 3D Printed
#[5]
Will do better than me for sure!
Almost missed this, driving down to #SanAntonio
#Bitcoin knows something #Q1 2023 
Happy St. Patty's #nostrica here is a summary of the #OilandGas #marketupdate for this week:
#WTI lost 10 cents to trade around $68/bbl but is down 10% for the week due to banking turmoil.
#Crude prices reached their lowest levels in over a year, with Prompt WTI and Brent hitting their respective lows of $65.65/bbl and $71.67/bbl before recovering some of their losses.
The market is expecting an #OPEC+ response following a meeting between #SaudiArabia and #Russian officials to "promote market balance and stability."
The #US won't rush to fill the petroleum reserve, according to Amos Hochstein, the Special Presidential Coordinator for Global Infrastructure and Energy Security.
The #SPR is currently at 371.6 MMBbl, the #lowest level since the 1980s, as a result of the 180 MMBbl release last year to tame gasoline prices.
The #G7 intends to maintain its $60/bbl #pricecap on #Russian oil #exports despite requests from several European states to lower the cap.
#Natgas prices are #down 4% due to warmer #weather forecasts.
#Repsol #canceled its plans for a Canadian #LNG project due to the cost of shipping gas to Canada's east coast being too high for the project to be economical.
The #California #PublicUtilitiesCommission is investigating the cause of high winter natural gas prices and is looking for ways to #mitigate #volatility.
Attention Energy Industry Professionals! Join us on March 14 for the first event in our quarterly Bitcoin lunch series at the Petroleum Club of Fort Worth. Learn about the transformative impact of Bitcoin adoption in the Oil and Gas industry. Register now! #Bitcoin #OilAndGas #EnergyIndustry
RSVP:
https://www.meetup.com/fortbitcoin/events/291942225/
Keynote by Cam Stromme, Unchained Capital
Our Panel will be moderated by Jake Corley 🏴☠️ Corley, Digital Wildcatters and includes:
John Bick, Chairman, Chief Commercial Officer, Priority Power
Justin Ballard, Martin Legal Group PLLC
Joel Fulford, 10NetZero, Inc.
Daniel Morrison, Amalgamated Sludge
Jonathan Kohn, BitPetro
Topics:
Future of Bitcoin in the Energy Industry: What does the future hold for Bitcoin adoption in the Oil and Gas industry, and what role will it play in shaping the future of the Energy industry?
Bitcoin's Role in Energy Independence: How can Bitcoin help the Oil and Gas industry achieve energy independence and reduce reliance on foreign oil?
Bitcoin Mining and Energy Efficiency: How can Bitcoin mining be leveraged to improve energy efficiency and reduce carbon emissions in the Oil and Gas industry?
Regulatory Landscape: What is the current regulatory landscape for Bitcoin adoption in the Oil and Gas industry, and how can it be navigated to achieve widespread adoption?
Lightning Network (LN) and Energy: How can the Energy industry leverage Layer 2 protocols to optimize energy trading, billing, and settlement?
Digital Asset Custody and Security: What are the best practices for self-custody of digital assets in the Oil and Gas industry, and how can they be implemented to maximize security?
Don't miss the first event of our quarterly Bitcoin lunch series on March 14 at the Fort Worth Petroleum Club. Our panel of experts will explore the transformative impact of Bitcoin on the Oil and Gas industry. Register now and be a part of the conversation!
Want to pay for your registration using the Lightning Network? We've got you covered! Click the Link to Register and Pay with the Bitcoin Lightning Network:
https://9dde27ea76.d.voltageapp.io/events/8pQKTfLrK253ZL2FvCDHJ3
Sponsored by Unchained Capital and Texas Blockchain Council
#FortWorth #Texas
Want to pay for your registration using the Lightning Network? We've got you covered! Click the Link to Register and Pay with the Bitcoin Lightning Network:
https://9dde27ea76.d.voltageapp.io/events/8pQKTfLrK253ZL2FvCDHJ3
Come learn from an expert panel about the intersection of Bitcoin and Energy from those on the front lines of innovation.
https://www.meetup.com/fortbitcoin/events/291942225/
Agenda:
11:45 am Networking
12:00 pm Lunch
12:15 pm Panel Begins
1:30 pm Event Concludes
Moderated by @JacobCorley from @DWildcatters
Our Panel includes:
@johnjbick
@JLB_Oso
@BitPetro
@SludgeLLC
Panel Topics:
Mining and Energy Efficiency
Regulatory Landscape
Lightning Network and Energy
Digital Transformation and Cybersecurity
Bitcoin's Role in Energy Independence
Come learn from an expert panel about the intersection of Bitcoin and Energy from those on the front lines of innovation.
https://www.meetup.com/fortbitcoin/events/291942225/
Agenda:
11:45 am Networking
12:00 pm Lunch
12:15 pm Panel Begins
1:30 pm Event Concludes
Keynote by @21Bullish : Bitcoin Basics for the Energy Industry, followed by a panel of experts discussing the opportunities and challenges of integrating Bitcoin into the Energy Stack
Join us Next Tuesday for the Bitcoin Lunch Series at the Fort Worth Petroleum Club! Discover the transformative impact of #Bitcoin adoption in the #OilandGasindustry
Sponsored by
@unchainedcap and @TXblockchain_
Hosted by
@fort_bitcoin
https://www.meetup.com/fortbitcoin/events/291942225
Come learn from an expert panel about the intersection of Bitcoin and Energy from those on the front lines of innovation.
https://www.meetup.com/fortbitcoin/events/291942225/
Agenda:
11:45 am Networking
12:00 pm Lunch
12:15 pm Panel Begins
1:30 pm Event Concludes
Join us Next Tuesday for the Bitcoin Lunch Series at the Fort Worth Petroleum Club! Discover the transformative impact of #Bitcoin adoption in the #OilandGasindustry
Sponsored by
@unchainedcap and @TXblockchain_
Hosted by
@fort_bitcoin
https://www.meetup.com/fortbitcoin/events/291942225
Join us Next Tuesday for the Bitcoin Lunch Series at the Fort Worth Petroleum Club! Discover the transformative impact of #Bitcoin adoption in the #OilandGasindustry
Sponsored by
@unchainedcap and @TXblockchain_
Hosted by
@fort_bitcoin
https://www.meetup.com/fortbitcoin/events/291942225
Great day 1 at #Empower
Cafecito and Day 2 here we go.
#Bitcoin #Energy is Bigger in #Texas
GM #Houston see you at #Empower
Stuck in traffic trying to get there
If you are a miner large or small and need to find a site & power, we can help.
#GetYourLand
#GetYourPower
#Bitcoin
#Mining
#NatGas #Oil #Upstream #Midstream #GIS
Contact us to find out more BitPetro.app
#[4] same for you would love your take on this
We are developing a hardware solution and API module called MBL for Meter By Lightning that will solve a significant disconnect that exists between when and how hydrocarbons flow compared to when and how the payments for delivered products are settled. The disconnect results in cash lag, credit risk, and increased energy costs. The problem is the extended settlement time, it introduces downstream risk and complexities.
MBL resolves these issues by integrating existing hardware and custom software developed by and for the energy industry with integration into a peer-to-peer payment network. MBL’s platform offers revolutionary transaction capability and near-instant settlements. Synchronizing the custody exchange of energy with payments removes the financial overhead currently required in the administration of sales across the Upstream, Midstream, and Downstream sectors of the Energy Industry. Creating undue financial friction that can impede investment and innovation.
https://www.youtube.com/watch?v=-ePeoavu5-w
Enabling energy companies to settle transactions more frequently, based on real-time sensor data, reduces counterparty risk and the need for collateral. Combined with the reduction in overhead costs from automating legacy and piecemeal settlement processes, MBL can help lower data error risks associated with manual accounting and settlement of hydrocarbons.
MBL will launch near real-time settlement service for Midstream companies, Upstream Operators, and other parties involved in the gathering and distribution of oil and gas, and energy early next year. Flexible transaction capabilities include oracle based pricing and simultaneous multi-party settlement. The service which provides custom software and hardware will be available for the broader energy industry starting in 2024.
#bitcoin #energy #oilandgas #lightningnetwork
#[3] I would love your take on the use of #LN for moving sums of say 10M USD for this type of settlement. When would you default back to L1 and what aside from privacy does having liquidity at that scale give to enterprise from your perspective?
#MBL or meter by lightning is a system for settling oil and gas transactions via the Bitcoin Lightning Network.
The oil and gas industry is a complex and dynamic sector that involves the production, transportation, and sale of energy commodities. The industry operates across a global network of suppliers, producers, distributors, and customers, and relies heavily on an efficient and accurate financial settlement to maintain stability and growth. With the advent of Bitcoin and Layer 2 payment networks like the lightning network, there is an opportunity to revolutionize the way financial settlements are processed in the oil and gas industry.
Enabling energy companies to settle transactions more frequently, based on real-time sensor data, reduces counterparty risk and the need for collateral. Combined with the reduction in overhead costs from automating legacy and piecemeal settlement processes, MBL can help lower data error risks associated with manual accounting and settlement of hydrocarbons.
#bitcoin #energy #oilandgas #lightningnetwork
We are developing a hardware solution and API module called MBL for Meter By Lightning that will solve a significant disconnect that exists between when and how hydrocarbons flow compared to when and how the payments for delivered products are settled. The disconnect results in cash lag, credit risk, and increased energy costs. The problem is the extended settlement time, it introduces downstream risk and complexities.
MBL resolves these issues by integrating existing hardware and custom software developed by and for the energy industry with integration into a peer-to-peer payment network. MBL’s platform offers revolutionary transaction capability and near-instant settlements. Synchronizing the custody exchange of energy with payments removes the financial overhead currently required in the administration of sales across the Upstream, Midstream, and Downstream sectors of the Energy Industry. Creating undue financial friction that can impede investment and innovation.
https://www.youtube.com/watch?v=-ePeoavu5-w
Enabling energy companies to settle transactions more frequently, based on real-time sensor data, reduces counterparty risk and the need for collateral. Combined with the reduction in overhead costs from automating legacy and piecemeal settlement processes, MBL can help lower data error risks associated with manual accounting and settlement of hydrocarbons.
MBL will launch near real-time settlement service for Midstream companies, Upstream Operators, and other parties involved in the gathering and distribution of oil and gas, and energy early next year. Flexible transaction capabilities include oracle based pricing and simultaneous multi-party settlement. The service which provides custom software and hardware will be available for the broader energy industry starting in 2024.
#bitcoin #energy #oilandgas #lightningnetwork