(Oil Price) – The International Energy Agency just threw a bucket of ice water on oil bulls, reporting that crude supply is outpacing demand by 600,000 bpd and slashing its demand outlook for the year. And the IEA isn’t alone. The world’s biggest oil traders are also sounding the alarm, turning bearish as overproduction ramps up both inside and outside OPEC.
(World Oil) – Cheniere Energy has announced that substantial completion of Train 1 at the Corpus Christi Stage 3 Liquefaction Project (CCL Stage 3) was achieved on March 16, 2025. Commissioning is complete and Cheniere’s engineering, procurement and construction partner, Bechtel Energy, has turned over care, custody and control of Train 1 and associated systems to Cheniere. “The substantial completion of
(Oil Price) – Officials from Alaska plan a visit to Japan and South Korea in search of potential Asian investors in the planned $44-billion Alaska LNG project, which is strongly supported by the Trump Administration. State firm Alaska Gasline Development Corporation (AGDC) seeks to advance the Alaska LNG project, designed to deliver North Slope natural gas to Alaskans and export LNG to U.S.
(Investing) – The U.S. Energy Information Administration (EIA) reported on Monday that the completion of natural gas pipeline projects in 2024 led to an increase in the country’s liquefied natural gas (LNG) takeaway capacity. The capacity, which indicates the maximum volume of gas a pipeline can transport from a production area or storage facility daily, increased by 17.8 billion cubic feet per day
(Yahoo Finance) – Chevron purchased about 4.99% of Hess Corp’s common shares this year, the oil giant said in a regulatory filing on Monday. Chevron said the stock purchase reflects its continuing confidence in completing the pending acquisition of Hess. In October 2023, Chevron agreed to acquire Hess in an all-stock deal valued at $53 billion, gaining a stake in Guyana’s
(World Oil) – Baker Hughes and NextDecade Corporation have entered into a framework agreement whereby NextDecade plans to utilize Baker Hughes’ gas turbine and refrigerant compressor technology (Equipment Packages) and enter into contractual services agreements to perform maintenance work for these Equipment Packages for Trains 4 through 8 at the Rio Grande LNG Facility. “Utilizing Baker Hughes’ industry-leading rotating equipment
(Oil Price) – Crude oil prices started the week with a jump following U.S. attacks on the Yemeni Houthis, with the Department of Defense stating the attacks will continue until the Houthis stop attacking ships traversing the Red Sea. At the time of writing, Brent crude was trading at $71.10 per barrel, with West Texas Intermediate at $67.70 per barrel, both up on opening and
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