Saturday, July 11, 2026
Russia, China

Petronas Exports First Ever Cargo from an FLNG Facility

Satu FLNG producing offshore Borneo Petronas will be the first company to export LNG from a floating production unit, beating competitors Shell and Inpex according to Reuters. Located off the coast of Borneo, Petronas’ Satu facility is currently loading LNG into the 5.1 MMcf capacity Seri Camellia tanker. This will be the first export from a FLNG plant. Constructed in

ConocoPhillips Sells Oil Sands, Deep Basin for $13.3 Billion

Cenovus to become largest Canadian thermal oil sands producer ConocoPhillips (ticker: COP) announced the sale of its Canadian oil sands and Deep Basin gas assets Wednesday, in a $13.3 billion transaction. Cenovus Energy (ticker: CVE) will purchase most of ConocoPhillips’ Canadian assets to become a major oil sands player. ConocoPhillips is selling its 50% stake in the Foster Creek Christian

Focus on Short-Cycle Returns Could Spell Trouble for Future Supply

Oil traders warn of impending supply crunch Investors’ preference for projects with fast returns could spell trouble for future supply, warn oil traders and service executives. Many of these short-cycle projects involve U.S. shale operations, but with demand continuing to grow, shale projects will be unable to sustain the entirety of future demand, and underinvestment in long lead time, larger