Oil Price Back in March, S&P Global reported that a record 24 cargoes carrying nearly 1.6 million metric tons of U.S. LNG had reached Asia via the Cape of Good Hope in the first three months of 2024, with exporters choosing the much longer route and shunning the Panama and Suez canals due to various challenges. S&P reported that only 14 cargoes
BOE Report The amount of natural gas flowing to Freeport LNG’s export plant in Texas rose to a two-month high on Sunday in what energy traders said was another sign that the plant was wrapping up a series of outages over the past month or so. The startup and shutdown of Freeport and other U.S. liquefied natural gas (LNG) export
World Oil (WO) – Texas LNG Brownsville LLC and a subsidiary of Glenfarne Energy Transition, LLC, has signed a second Heads of Agreement (HOA) with EQT Corporation for natural gas liquefaction services for an additional 1.5 MMtpa of LNG over 20 years. This transaction expands Texas LNG’s total HOA volume with EQT to 2 MTPA. With this transaction, and Texas
World Oil (Bloomberg) – Shell Plc and TotalEnergies SE are among several global energy companies in talks to buy stakes in Abu Dhabi National Oil Co.’s next liquefied natural gas export project in the United Arab Emirates. The two oil majors, as well as Japanese trading house Mitsui & Co., are looking for equity in the Ruwais facility, as well
World Oil (WO) – In the Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasted that U.S. liquefied natural gas (LNG) exports will keep leading the U.S. natural gas sector as three LNG export projects soon begin operations and reach full production by the end of 2025. The EIA also forecasted increased natural gas pipeline exports, mostly to
World Oil (Bloomberg) – Enterprise Products Partners overcame the last regulatory hurdle to build a proposed deepwater oil port off the coast of Texas aimed at helping record oil exports to flow to markets in Asia and Europe. The United States Maritime Administration issued a license for the Sea Port Oil Terminal, which will allow Enterprise to move forward with
World Oil (Bloomberg) – Jamie Dimon said U.S. delays of liquefied natural gas (LNG) projects were done for “political reasons” to pacify those who believe oil and gas projects should be stopped — a position he calls “wrong” and “enormously naïve.” The head of JPMorgan Chase & Co. made the comments Monday in his annual shareholder letter, in which he
Investing LONDON -Shell said on Friday it expects significantly lower results from its liquefied natural gas trading business in the first quarter of 2024 compared with the previous three months. In an update ahead of quarterly results on May 2, Shell (LON:RDSa) also said its oil trading results are expected to be significantly higher than the last quarter of 2023. Shell, the world’s
Oil Price U.S. natural gas producers believe they have a role to play in providing gas for the soaring power demand from data centers and AI technologies. While most large technology corporations seek solar or wind capacities to power their AI developments and data centers, renewables alone would not be enough to cover the growing demand for electricity, executives have
Oil Price Despite multi-year low natural gas prices in the United States, domestic producers continue to be optimistic about the long-term prospects of gas as a fuel, both in America and abroad. The current oversupply in the U.S. natural gas market is set to ease in the coming months as many operators are curtailing production in response to the February
Oil Price ExxonMobil is slightly ahead of schedule in its work to double its LNG portfolio by 2030, Peter Clarke, senior vice president for global LNG, has told Reuters in an interview. In 2020, Exxon said it aims to double its LNG portfolio from 20 million tons per year to 40 million tons annually by the end of the decade. Exxon’s
Yahoo Finance HOUSTON – The United States should not flip-flop on its gas export policy, Hess CEO John Hess said on Tuesday. U.S. President Joe Biden’s administration has hit pause on permits for new liquefied natural gas (LNG) export plants to ensure projects do not undermine U.S. targets to cut greenhouse gas emissions. “Consumers have to rely on the United
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