US LNG flows into high-priced Europe, deserts China
The US more than doubled LNG exports to Europe in the first four months of the year, according to the Energy Information Administration (EIA).
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OPEC+ opens taps wider, heeding US but keeping Russia onside
OPEC+ agreed to increase the size of its oil-supply hikes by about 50%, in a deal that kept Russia at the heart of the cartel while also heeding pressure from major consumers including the US.
Cheniere signs LNG supply deal with South Korea’s POSCO
US liquefied natural gas (LNG) developer Cheniere Energy will supply 0.4 million tonnes per year of LNG to South Korea’s POSCO International Corporation, owner of the Asian nation’s first private LNG import terminal, under a new long-term deal.
Malaysia’s Petronas signs up for long-term US LNG supply
US liquefied natural gas (LNG) developer Venture Global will supply Malaysia’s Petronas with 1 million tonnes per year (t/y) of LNG for a 20-year term after the pair signed a new deal. Significantly, Asian LNG buyers, such as Petronas, are increasingly locking in new long-term supplies as more European buyers enter the race for LNG.
Exxon signs up for Venture Global LNG supplies
Venture Global LNG has signed up to provide ExxonMobil’s Asian unit with 2 million tonnes per year of LNG.
India wants Russia to discount its oil to below $70 a barrel
India is trying to get deeper discounts on Russian oil to compensate for the risk of dealing with the OPEC+ producer as other buyers turn away, according to people with knowledge of the matter.
Japan weighs financial support to boost U.S. LNG exports
Japan will consider providing financial support to boost production of liquefied natural gas (LNG) in the U.S., reported financial publication Nikkei Asia, as Tokyo aims to lower its energy dependence on Russia following Moscow's invasion of Ukraine.
US states take aim at “woke” financing
Ask an oil company what the problem with the industry is these days and high up on the list will be complaints about a shortage of financing. People point the finger of blame at a variety of related factors such as a new craze for ESG, environmentalists, the government and the left.
North America: enterprising, dynamic and opportunistic
My eldest son is an aerospace engineer and lives and works in Seattle on the US West coast. He’s built a career in an industry which nowadays offers few opportunities in Scotland nor many in other parts of the UK.
China buyers hungry for US LNG as European demand set to surge
Russia’s invasion of Ukraine seems to have jolted China based buyers of liquefied natural gas (LNG) into signing more deals with US-based LNG export developments as global competition for the fuel surges.
Oil heads for longest run of monthly gains since early 2018
Oil is poised to eke out a fifth monthly advance after another tumultuous period of trading that saw prices whipsawed by the fallout of Russia’s war in Ukraine and the resurgence of Covid-19 in China.
CNOOC denies plans for $3 billion UK North Sea exit
CNOOC has brushed aside recent media reports that the firm is considering withdrawing from oilfield investments in the UK North Sea, the US and Canada.
ExxonMobil declares force majeure on Russian operations at Sakhalin
ExxonMobil said Wednesday that it has declared force majeure for its Sakhalin-1 operations in Far East Russia after it became too difficult to ship crude oil due to sanctions, reported Reuters.
China oil giant Cnooc jumps as much as 44% in mainland debut
Cnooc Ltd jumped as much as 44% in its first day of trading in Shanghai as mainland investors leaped at the chance for exposure to soaring oil and gas prices.
Biden tells Modi: importing more Russian oil not in India’s interest
US president Joe Biden has told Indian Prime Minister Narendra Modi that increasing oil imports from Russia is not in India’s interest.
China signs another deal to buy US LNG
US-based NextDecade will supply China’s ENN with 1.5 million tonnes per year (mtpy) of liquefied natural gas (LNG) for 20 years, starting as early as 2026, from the proposed Rio Grande export project in Texas. Significantly, this is the fourth US-China LNG deal struck in the past two weeks.
Woodside and Heliogen advance novel solar projects in US and Australia
Australia’s Woodside and US-based Heliogen have signed an agreement to deploy a 5 MW electric (MWe) module of Heliogen’s AI-enabled concentrated solar energy technology in California and jointly market Heliogen’s innovative technology in Australia.
US commits to additional LNG supplies for Europe
The US and its partners will send an additional 15 billion cubic metres of LNG to Europe this year, US President Joe Biden has said.
European energy prices soar as Russia seeks rubles for its gas
European energy prices surged after President Vladimir Putin said Russia will demand payments in rubles from natural gas buyers it deems “unfriendly.”
Report: Rich nations including UK ‘must end oil and gas by 2034’
Rich countries must end oil and gas production by 2034 to keep the world on track for the Paris Agreement climate change target and give poorer nations longer to replace their income from fossil fuels, a new report says.
Noble execs get top billing with Maersk Drilling merger
Noble Corp. and Maersk Drilling have set out the executive team that will lead the new company, confirming Noble’s Robert Eifler as president and CEO.
Iranian missiles target Israelis in Kurdistan, miss US consulate
Iran’s Islamic Revolutionary Guards Corp (IRGC) fired missiles into a Kurdistan city, the autonomous region of Iraq, on March 12.
Oil jumps to $130 with US and UK set to ban Russia imports
Oil extended its rally as the US and UK said they plan to ban Russian oil imports while oil giant Shell announced it will also halt purchases from the country.
Biden to announce US Ban on Russian oil
The Biden administration will impose a ban on US imports of Russian energy on Tuesday without the participation of its European allies, according to people familiar with the matter.
Boris Johnson wants ‘climate pass’ for gas industry to wean West off Russian supply
Boris Johnson wants a “climate change pass” for the gas industry to wean western countries off supplies from Russia.