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Canada’s Woodfibre LNG Project to be Operational by 2028, Says Canada Official

CDN and International News, Conventional Energy, Latest, LNG / By

Canada’s Woodfibre liquefied natural gas project looks to be operational by 2028, Erin O’Brien, assistant deputy minister at Canada’s department of natural resources, said at an energy conference in Tokyo on Friday.O’Brien added that the project is poised to be the world’s first net-zero LNG facility. (Reporting by Yuka Obayashi in Tokyo and Emily Chow …

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JP Morgan Says Strait of Hormuz Closure Could Trigger a Sustained Oil Price Shock

CDN and International News, Conventional Energy, Energy Topics & Technology, Forecasts, Latest, Oil / By

(Reuters) – JP Morgan believes that a Strait of Hormuz closure would likely trigger a sustained oil price shock that will reverberate through global macro developments, the bank said in a note. It said that in the most extreme case of a broader regional conflagration that includes the closure of Hormuz, it estimates oil prices …

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Iran Adapts to Maintain Oil Exports During Conflict, Trackers Say

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By Robert Harvey Iran’s crude exports averaging 2.2 million bpd this week, Kpler says Tankers are loading one-by-one at Kharg Island Floating storage is moving close to China to shield buyers from potential disruptions LONDON, June 19 (Reuters) – Iran is maintaining crude oil supply by loading tankers one at a time and moving floating …

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Shell CEO Warns of ‘Huge Impact’ If Strait of Hormuz Blocked

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Shell Plc has contingency plans in case the conflict between Israel and Iran disrupts flows from the region, warning that a potential blockage of the Strait of Hormuz could deliver a substantial shock. About a quarter of the world’s oil trade passes through the Strait of Hormuz, which links the Persian Gulf to the Indian …

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Chevron Seeks Buyers for 50% Stake in Singapore Refinery, Sources say

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, Refineries / By

Summary Chevron looking to sell refinery stake amid global restructuring Refinery partner PetroChina has first right of refusal on stake Chevron also gauging interest to sell other Asia assets Stake value estimated in $300 million to $500 million range SINGAPORE, (Reuters) – U.S. oil major Chevron  has sought non-binding bids for the sale of its 50% …

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Mideast Oil Giants Bring Their Billions in Search of LNG Riches

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By Anna Shiryaevskaya and Verity Ratcliffe The Golden Pass LNG terminal under construction in Sabine Pass, Texas. Photographer: Callaghan O’Hare/Bloomberg A new breed of investors is expanding into liquefied natural gas, one of the world’s hottest commodities, offering billions of dollars for new projects and squeezing out established players. With financial firepower at their disposal …

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Oil Markets See Closure of Hormuz Strait as Unlikely, Eni CEO Says

CDN and International News, Conventional Energy, Latest, Oil / By

MILAN, June 18 (Reuters) – The CEO of Italian energy company Eni (ENI.MI) said on Wednesday oil markets are signalling that an escalation between Israel and Iran and the closure of the Strait of Hormuz is unlikely. About a fifth of the world’s total oil consumption passes through the Strait, which lies between Oman and …

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Canada Could Produce First LNG by This Weekend, Sources Say

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Canada could produce its first ever liquefied natural gas this weekend, from the LNG Canada export facility in Kitimat, British Columbia, two people familiar with the startup of the plant told Reuters on Wednesday. The facility, the first of a handful of Canadian LNG projects to begin production, will be the first LNG facility in …

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Israel-Iran Developments in Next 3-5 Days Critical for Global Energy Markets, Yergin says

CDN and International News, Conventional Energy, Latest, Oil / By

Developments in the Iran-Israel conflict in the next three to five days will be critical to global energy markets even though oil and gas supplies from the Gulf have not yet been disrupted, oil historian Daniel Yergin said on Wednesday. Iran and Israel launched new missile strikes at each other on Wednesday as the air …

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