Saturday, November 23, 2024
ExxonMobil, Mexico Pacific to bring Permian gas to global markets with third LNG deal- oil and gas 360

ExxonMobil, Mexico Pacific to bring Permian gas to global markets with third LNG deal

World Oil (WO) – Mexico Pacific has signed a third long-term Sales and Purchase Agreement (“SPA”) with ExxonMobil LNG Asia Pacific (“EMLAP”) for an additional 1.2 MMtpa of liquefied natural gas (“LNG”) from Train 3 of Mexico Pacific’s Saguaro Energia project located on the west coast of Mexico. The volume originates from the option under the separate LNG SPAs executed

BP appoints Murray Auchincloss as permanent CEO- oil and gas 360

BP appoints Murray Auchincloss as permanent CEO

CNBC LONDON — Oil and gas major BP appointed Murray Auchincloss as permanent CEO, the company said Wednesday. His appointment comes roughly four months after his predecessor Bernard Looney resigned after less than four years in the post, citing undisclosed personal relationships with colleagues prior to becoming CEO. Auchincloss, then chief financial officer, was named interim CEO at the time of

Saudi oil price cut driven by weak market, not policy shift- oil and gas 360

Saudi oil price cut driven by weak market, not policy shift

Nasdaq LONDON – Saudi Arabia’s cut in official crude oil selling prices to Asia reflects weaker fundamentals of supply and demand, and does not imply a looming shift in OPEC+ policy or a fight for market share, analysts and industry sources said. On Jan. 7, Saudi Arabia reduced the February official selling price (OSP) of its flagship Arab Light crude to Asia

Freezing temperatures in U.S. shut in over half of North Dakota’s oil production- oil and gas 360

Freezing temperatures in U.S. shut in over half of North Dakota’s oil production

World Oil (Bloomberg) – Freezing temperatures sweeping the U.S. shut in more than half of North Dakota’s oil production and curbed refinery operations in Texas. The outage in the second-largest U.S. shale basin briefly lifted West Texas Intermediate futures. Physical oil prices also rose on the Gulf Coast as Midwest refiners seek alternatives to North Dakota’s Bakken oil. As much

US natural gas demand hits record high amid severe cold snap- oil and gas 360

US natural gas demand hits record high amid severe cold snap

Nasdaq U.S. homes and businesses used a record amount of natural gas on Tuesday as demand for the fuel for heating and power generation soared during an Arctic blast that also cut gas output to near a 13-month low by freezing wells. The severe winter storm dumped snow across a broad part of the nation on Tuesday, shutting a Gulf Coast refinery in Texas, triggering

Oil falls as China’s economic recovery disappoints, dollar strengthens- oil and gas 360

Oil falls as China’s economic recovery disappoints, dollar strengthens

CNBC Oil fell more than $1 on Wednesday as economic growth in China, the world’s second-largest crude user, slightly missed expectations, raising concerns about future demand, while U.S. dollar strength dented investor’s risk appetite. Brent crude futures fell $1.23, or 1.57%, to $77.06 per barrel. U.S. West Texas Intermediate crude futures (WTI) were down 92 cents, or 1.27%, at $71.48. Even the ongoing