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Ever since OPEC+ stunned oil markets by opening the taps three months ago, traders have tried to divine the cartel’s motives. Clarity may soon be at hand. On Saturday, Saudi Arabia and its partners agreed to further accelerate plans for reviving crude production, despite signs of an impending oversupply in world markets. The full rationale remains opaque. …
OPEC+ Is Rushing Toward a Production Strategy Crossroads Read More »
Venture Global exported more liquefied natural gas (LNG) cargoes from its Plaquemines export facility in Louisiana and earned more than double in fees compared with its other U.S. plant, a company filing showed on Monday. The LNG company exported 51 cargoes from Plaquemines at an average liquefaction fee of $7.09 per million British thermal units …
Venture Global Cashes in on Exports from Plaquemines LNG Plant, SEC Filing Shows Read More »
Reuters – Exxon Mobil signaled on Monday that lower oil and gas prices could cut its second-quarter earnings by about $1.5 billion from the previous quarter’s level. The earnings snapshot from the largest U.S. oil producer is closely watched for clues on how the broader oil sector will fare when companies begin releasing quarterly results in …
Exxon Signals Lower Oil, Gas Prices Could Hit Second-Quarter Profit Read More »
Clyde Russell (Reuters) – Two questions stand out after the decision by OPEC+ to accelerate increases in crude oil output: who is going to buy the extra crude, and will the group actually export the additional barrels they say they are going to produce? OPEC+ agreed at a weekend meeting to raise production by 548,000 barrels per …
OPEC+ is Pumping More Oil, But is it Needed and at What Price? Read More »
(Reuters) – U.S. power outages could double in five years if suppliers fail to add capacity during peak demand, the Department of Energy said on Monday. “Blackouts could increase by 100% in 2030 if the U.S. continues to shutter reliable power sources,” DOE noted in a report on grid reliability and security. It cited green …
Lack of New US Power Capacity Could Double Blackouts by 2030, Says Energy Department Read More »
Shell Plc expects second-quarter results to be negatively impacted by a weaker performance from its oil and gas trading operation, with earnings from the division expected to be “significantly lower” quarter-on-quarter. The company’s shares declined to a four-week low following the announcement, with European peers BP Plc and TotalEnergies SE also falling. Shell’s trading update …
Shell Says Weak Oil and Gas Trade Hit Second-Quarter Profit Read More »
Summary OPEC+ to agree another 550,000 bpd hike for Sept -sources OPEC+ to complete unwinding of 2.17 mln bpd cut UAE to complete output boost in line with new quota Output jump since April set to be 2.47 mln bpd or 2.5% of global demand (Reuters) – OPEC+ oil producers are set to approve another …
OPEC+ Set to Complete Big Oil Output Cut Unwinding in Sept, Sources Say Read More »
By Reuters (Reuters) – Malaysia’s state energy firm Petronas on Monday said it has successfully shipped its first liquefied natural gas (LNG) cargo to Japan from its newly operational LNG facility in Kitimat, Canada. Petronas has a 25% stake in the Kitimat LNG plant in British Columbia on Canada’s west coast. The shipment departed for Japan …
Petronas Ships its first LNG Cargo to Japan from its New Facility in Canada Read More »
(Reuters) – A new oil pipeline to the British Columbia coast is highly likely to be included on a list of projects deemed to be of national importance to the Canadian government, Prime Minister Mark Carney told the Calgary Herald newspaper in an interview published on Sunday. “I would think given the scale of the …
By Amanda Stephenson Hodgson emphasizes private sector’s role in pipeline decision-making Pathways Alliance project crucial for pipeline approval Canada aims to diversify oil exports beyond U.S. reliance CALGARY, July 4 (Reuters) – Canada’s federal government has not been presented with any private sector proposal to build a new crude pipeline to the Pacific coast, the …
Canada Awaits Private Sector Move on Pacific Crude Pipeline, Minister Says Read More »
