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(Reuters) – Venture Global’s loss in a massive arbitration case with BP is a black eye for the wider U.S. LNG industry, whose breakneck growth looks set to contribute to a global supply glut and far more headaches for investors. The U.S. LNG producer, which has a $30 billion market cap, operates some of the …
Occidental Petroleum will be in a better position to invest in its core oil and gas business after divesting a chemicals unit and will be able to replace the lost cash flow from the division in about two and a half years, CEO Vicki Hollub told Reuters in an interview on Thursday. After announcing earlier …
Occidental CEO Says Chemical Divestiture Will Improve Core Oil, Gas Business Read More »
(Reuters) – The U.S. Department of Energy on Wednesday said it planned to cancel $7.56 billion in financing for hundreds of energy projects that it said would not provide sufficient returns to taxpayers. The department’s announcement came hours after White House budget director Russell Vought said in a post on X that the administration would …
US Energy Department Cancels $7.6 Billion in Funding Meant for Projects Read More »
Summary Global LNG capacity to grow by 60% by 2030, US to make up half of additions LNG market expected to enter period of heavy oversupply At the same time, growing demand for domestic US power generation to boost gas costs (Reuters) – The breathtaking expansion of U.S. gas exports in the last decade has …
COMMENTARY: The US LNG Industry Risks Becoming Victim of its Own Success Read More »
U.S. President Donald Trump issued a letter to NATO nations on Saturday, urging them to stop buying Russian oil and impose major sanctions on Russia to end its war in Ukraine. “I am ready to do major sanctions on Russia when all NATO nations have agreed, and started, to do the same thing, and when …
Trump Presses NATO Nations to Halt Russian Oil Purchases Read More »
U.S. Energy Secretary Chris Wright downplayed the risks of climate change as he promoted Washington’s return to a “commonsense energy policy” on Thursday, while the Trump administration worked to boost oil and gas sales to Europe and other allies. Wright spoke to reporters after meeting the European Union’s energy commissioner Dan Jorgensen in Brussels. U.S. …
US Energy Secretary Downplays Climate Risks as Washington Seeks EU Gas Deals Read More »
Summary Oil and gas producers cut $2 bln in expenditure, Reuters analysis shows US oil rig counts have fallen by 69 this year Trump’s trade policies and tariffs push up material costs HOUSTON, Sept 8 (Reuters) – The U.S. oil industry has laid off thousands of workers and cut billions in spending due to lower …
Cuts to US Oil Jobs and Spending Threaten Output Growth Read More »
(Reuters) – EQT Corp is in talks to take a supply of liquefied natural gas from NextDecade’s export terminal, which is being built in Texas, Bloomberg News reported on Wednesday, citing people familiar with the matter. Under the terms of the potential deal, EQT would load the super-chilled fuel from the Rio Grande LNG export …
Clyde Russell (Reuters) – A couple of months ago it would have been a brave call to say that OPEC+ would be able to bring back 2.5 million barrels per day of crude production and still keep oil prices anchored around $70 a barrel. But this is exactly what has occurred, with the eight members …
OPEC+ Gets Lucky as it Brings Back Oil Output Amid Uncertainty Read More »
The U.S. and the European Union agreed on a framework trade deal on Sunday, ending months of uncertainty for industry and consumers on both sides of the Atlantic. Here are the main elements of the deal: * Almost all EU goods entering the U.S. will be subject to a 15% baseline tariff, including cars, which …
