Friday, January 31, 2025

ConocoPhillips Sold Kenai LNG Plant for ‘Bargain Price’, Local Mayor Says

From Anchorage Daily News  The mayor of the Kenai Peninsula Borough said the mothballed Kenai LNG plant sold for $10 million, a figure that’s a fraction of the property’s assessed value and one that companies involved in the deal would not confirm. ConocoPhillips sold the aging facility on Jan. 31 to Andeavor, which owns a crude oil refinery near the Nikiski

Rosneft

Rosneft Wants to Export LNG from Proposed Arctic Plant, but Russian Parliament Says ‘No’

Why? It would undermine the export monopoly of Gazprom From The Barents Observer The Energy Committee in the lower house of the Russian parliament has concluded that Rosneft should not be allowed to export natural gas. The state company requested permission to engage in exports of liquified natural gas from its projected Pechora LNG plant. According to the legislators, an

Too Many Crude Tankers is a Major Obstacle for Market’s Restoration of Balance

From Hellenic Shipping News The single biggest stumbling block which is hindering the crude tanker market’s recovery and is bound to continue doing so, is the excess supply of ships, a trend which isn’t going away anytime soon. In its latest weekly report, shipbroker Intermodal said that “crude oil supply has been reported to have grown by approx. 2.5% reaching 40.1m