Friday, November 22, 2024

Gulf of Mexico LNG Shippers Have a $45,000-a-Day Problem

Dealing with costly delays in getting tankers through the Panama Canal may slow down U.S. LNG shipments, according to Octavio Simoes, president of LNG export terminal developer Sempra LNG & Midstream. Bloomberg reported that Simoes calculated that every day a cargo is held up at the canal can cost a trader $45,000. Simoes was speaking at Energy Dialogues LLC’s North American Gas

234 MBOPD of Oil Production Forced to Pause

Unrest Forces Field Shutdown Oil production in Libya was forced to decrease today, in the latest of a series of disruptions that is becoming all-too familiar. The Sharara oilfield, the largest field in Libya was forced to shut in production yet again, as armed groups disrupted activity. According to Bloomberg, Sharara produced about 234 MBOPD the day before workers were

Southwestern Renegotiates Fayetteville Takeaway

$70 million savings via smaller contract Southwestern Energy (ticker: SWN) announced that it has renegotiated its Fayetteville transportation agreement, updating terms. The new agreement, negotiated with Boardwalk Pipeline Partners’ (ticker: BWP) Texas Gas Transmission, is effective November 1, 2017. Southwestern anticipates that the agreement will provide significant savings. The previous/current transportation contract is larger than Southwestern needs, meaning the company

Baker Hughes Names Simonelli Chairman after Immelt Departs GE Early

Flannery takes over as GE’s chairman GE surprised a few people yesterday announcing that Jeff Immelt had stepped down Oct. 2 as the company’s chairman, a move that was originally scheduled for Dec. 31, 2017. John Flannery, who was formerly CEO of GE Healthcare became CEO of GE on Aug. 1, but his move into the chairman’s role was expected