UK backs US oil release plans with eye on controlling prices
The UK will back President Joe Biden’s plans to release emergency oil supplies in an attempt to reduce the price of oil.
US
US poised to release oil from reserve with other nations
President Joe Biden is preparing to announce a release of oil from the nation’s Strategic Petroleum Reserve (SPR) in concert with several other countries as soon as Tuesday, according to people familiar with the plan.
Israel, Jordan strike linked water, power deal
Jordan and Israel have agreed to co-operate on solar and desalination projects, with support from the US and United Arab Emirates.
Japan joins ranks of oil consumers weighing stockpile releases
Japan is considering releasing oil from its strategic stockpiles, joining China and the US in a coalition of consumers that wants to tame a surge in energy prices that’s triggered a jump in inflation.
Oil firms spend $192million on Biden’s first – perhaps last – Gulf of Mexico auction
Oil companies spent $191.7 million buying drilling rights in the Gulf of Mexico on Wednesday, during a robust government auction that underscored the industry’s appetite for new crude as the White House seeks to shifts the US away from fossil fuels.
Biden calls for major oil reserve sales, but in Asia, that’s not so easy
Dwindling inventories and concerns over energy security in key Asian economies may hamstring US efforts to arrange for a sizeable and coordinated release of strategic crude reserves in a bid to rein in prices and tackle inflation.
Inpex and Shell’s Abadi faces more headwinds as US LNG muscles in
Inpex’s (TYO:1605) proposed Abadi liquefied natural gas (LNG) plant in the Masela Block offshore Indonesia, which has long struggled to gain traction, is looking increasingly unlikely to be developed, especially as another wave of US LNG projects looms large.
China hungry for more US LNG deals
China, which has overtaken Japan as the world’s largest buyer of liquefied natural gas (LNG), needs more supply deals to meet surging domestic gas demand. This offers US exporters, such as Cheniere (NYSE:LNG), a significant opportunity, especially as trade tensions ease.
Japan’s JERA buys $2.5bn stake in US LNG
Japan's JERA, the world's largest individual buyer of liquefied natural gas (LNG), said today that it will buy a 25.7% interest in Freeport LNG Development in the US for about $2.5 billion as it races to secure LNG supplies.
World leaders urged to help negotiators in push for climate deal at COP26
World leaders have been urged to help negotiators get a climate deal over the line as Cop26 entered the final 48 hours of scheduled talks.
Asia snaps up American shale gas to keep boilers, furnaces lit
Asian liquefied natural gas (LNG) traders are rushing to secure shipments from the US, where prices are among the cheapest in the world, amid a dash to replenish supply before the winter.
Climate change sparks conflict warning
Climate change is set to warm the world, the US has warned, in more ways than one.
China’s Sinopec signs up for more US LNG
US liquefied natural gas (LNG) developer Venture Global LNG has signed a trio of supply deals with China’s Sinopec. Significantly, the sales contracts will more than double China’s imports of LNG from the US.
Woodside teams up with Heliogen on ‘breakthrough’ solar tech in US
Australian liquefied natural gas (LNG) developer Woodside (ASX:WPL) is collaborating with US-based Heliogen, a provider of AI-enabled concentrated solar energy, to build a 5 MW commercial-scale demonstration facility in California.
Is China opening the US LNG floodgate with Cheniere deal?
News that Cheniere (NYSE:LNG) signed a long-term liquefied natural gas (LNG) supply contract with China’s ENN Natural Gas (CH:600803) earlier this week marked the first major US-China deal since 2018. Over the past three years, new LNG deals between the two great powers were put on ice as rising political tensions under the Trump administration thwarted trade.
‘Laser focus’ on turning plans into action during COP26
All eyes are on Glasgow as the world’s leaders prepare to convene for COP26, and the call to action has never been stronger as the climate crisis rolls on.
US arrests Novatek CFO on tax evasion charges
Novatek shares dropped the most in about 16 months after the arrest of Deputy Chief Executive Officer Mark Gyetvay on tax charges in the US.
US push for LNG in Philippines paints unrealistic picture, IEEFA says
A recent white paper sponsored by the US Agency for International Development (USAID) promotes the benefits of liquefied natural gas (LNG) in the Philippines. But it makes overly optimistic claims about the financial, economic and environmental benefits of LNG, reckons the Institute for Energy Economics and Financial Analysis (IEEFA).
Corrupt oil trader turns on colleagues in massive Africa bribe case
When Anthony Stimler left Glencore Plc in August 2019, he had two big secrets: For a dozen years, he’d paid millions in bribes to African officials and intermediaries. And he was now helping a US Justice Department investigation into the company and numerous former colleagues.
Shell weighing up ‘jab or job’ policy for employees: Reports
Energy giant Shell is considering making vaccines mandatory for certain workers, including those working offshore, according to news reports.
Gulf oil spill shows risk from 18,000 miles of abandoned pipe
An oil spill unleashed by Hurricane Ida is highlighting longstanding concerns about the more than 18,000 miles of decommissioned pipelines that still snake through the Gulf of Mexico, even though they no longer transport crude and natural gas.
ExxonMobil taps strategic oil reserve after Ida shuts Gulf output
ExxonMobil is tapping the US Strategic Petroleum Reserve to revive gasoline production in Louisiana after Hurricane Ida left much of the devastated state’s refining and oil production offline.
Ida injures four on Globetrotter II, disrupts Houma heliport
Four workers on the Noble Globetrotter II have been evacuated after the drillship was caught up in Hurricane Ida.
US Gulf oil producers, refiners shut as hurricane Ida comes ashore
Oil and natural gas explorers in the US Gulf of Mexico and Louisiana refineries have shut production as Hurricane Ida crashed ashore.
Lebanon fuel crisis takes its toll
Fuel shortages are taking their toll in Lebanon, including on the UK embassy, which is withdrawing some staff.