(BOE Report) – U.S. natural gas futures held near a three-month high on Friday as Hurricane Helene battered the U.S. Southeast after causing Gulf of Mexico producers to cut output and millions of power outages in Florida, Georgia and the Carolinas. On its first day as the front-month, gas futures for November delivery on the New York Mercantile Exchange were
(Oil Price) – TotalEnergies on Friday announced a deal to buy a 45% stake in dry gas-producing assets owned and operated by Lewis Energy Group in the Eagle Ford basin in Texas, growing its gas production business and boosting its LNG portfolio. The assets that TotalEnergies is buying are located in Southwest Texas and have the potential to be developed to reach a
(BOE Report) – U.S. energy company EQT plans to reverse some natural gas production curtailments in October and November as demand for the fuel and prices increase, CEO Toby Rice told Reuters on Wednesday. EQT, the biggest U.S. natural gas producer, has along with other U.S. drillers curtailed output in 2024 after prices collapsed to multi-year lows in the spring
BOE Report Chevron does not want to invest in the construction of U.S. LNG plants, as it is not the best use of the company’s capital and it can easily sell its U.S. gas, said a top official on Thursday. The head of Chevron’s midstream, Colin Parfitt, also ruled out taking an equity stake in Woodside Energy’s impending purchase of Louisiana-based
Oil Price French supermajor TotalEnergies announced on Friday the start of natural gas production from the Fenix gas field offshore in southern Argentina. The Fenix field has been developed to have a production capacity of 10 million cubic meters per day, or 70,000 barrels of oil equivalent per day, (boe/d). The field, 60 km (37 miles) off the coast of Tierra del
Oil and Gas 360 Agreement accelerates KTG’s objective of becoming fully integrated provider of natural gas from wellhead to water Kimmeridge’s recent control investment in Commonwealth to support 9.5 mtpa LNG export facility in Louisiana through FID in 1H 2025 HOUSTON and NEW YORK, Sept. 19, 2024 /PRNewswire/ — Kimmeridge Texas Gas (“KTG”) and Commonwealth LNG (“Commonwealth”) have entered into a Heads of Terms agreement with
World Oil (Bloomberg) – The oil and gas industry is zeroing in on the Biden administration’s moratorium on new liquefied natural gas (LNG) export permits as the key policy they want changed under the next U.S. president. Chevron Corp. Chief Executive Officer Mike Wirth called on the administration to reverse the pause, labeling the policy as a failure that “elevates
Oil Price The U.S. North American neighbors are emerging as the latest competitors of the United States to ship LNG to Asia, the world’s biggest and most important LNG-importing region. While U.S. LNG development has suffered a series of setbacks in recent months, Canada and Mexico are looking to tap the growing Asian market for the super-chilled fuel, analysts tell
(Oil & Gas 360) – A report from the International Gas Union (IGU) suggests reasons for optimism about the future of the world marketplace for LNG exporters and importers. Measuring its calculations through millions of tons per annum (MTPA), 2023 saw over 400 million tons traded on the global LNG market. The number represents 70 MTPA growth y-o-y, the highest
World Oil (Bloomberg) – The Biden administration granted the first liquefied natural gas (LNG) export license since a federal court overturned a temporary moratorium on issuing permits to ship the fuel. The U.S. Energy Department granted a five-year license Tuesday to Wes Edens’ company New Fortress Energy Inc., which is developing the small-scale LNG export plant known as Fast LNG
Oil Price The Trans Mountain Expansion Project, now finally completed after years of delays, is expanding access to markets for Canadian oil producers and is set to boost the price of Canada’s heavy crude oil for years to come, top executives at the major energy firms say. The expanded pipeline is tripling the capacity of the original pipeline to 890,000 barrels per
Oil Price Cheniere Energy (NYSE: LNG) booked a 36% decline in its second-quarter earnings compared to a year ago, due to lower margins for delivered LNG cargoes. Cheniere Energy, the biggest U.S. LNG exporter, reported on Thursday a net income of $880 million for the second quarter, down from $1.37 billion for the same period of 2023. Half-year net income slumped by
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