(World Oil) – ADNOC will transfer stakes in some U.S. assets to its new international investment firm, XRG PJSC, part of a push to create a $80 billion global venture. Abu Dhabi National Oil Co.’s holdings in a hydrogen venture with Exxon Mobil Corp. and NextDecade Corp.’s LNG export project will move to XRG, according to CEO Sultan Al Jaber.
(BOE Report) – Japan’s demand for liquefied natural gas (LNG) may grow by more than 10% to some 74 million metric tons by 2040 under a government scenario where the renewable energy rollout goes slower than expected, a senior industry ministry official said. Japan’s domestic LNG demand continued to fall last year, dropping by 0.4% to 66 million tons due
(Oil Price) – The five biggest international oil and gas majors are expected to report in the coming weeks their lowest quarterly earnings in three years, data compiled by Bloomberg showed on Tuesday. Lower oil and gas prices, weaker oil trading and LNG business at some of the European majors, and declining margins across the board are expected to weigh on the fourth-quarter
(Oil Price) – LNG producer and exporter Venture Global went public this week, raising $1.75 billion for a total valuation of $60 billion. The company priced its share offering at $25 apiece, it said in a statement, which added the offering period will end on January 27. The price of the placement is a lot lower than Venture Global initially planned. The
(Oil Price) – Big Oil majors are bracing for a drop in income from liquefied natural gas trade as prices are seen stabilizing after the price surge from the past three years, the Financial Times has reported, citing analysts. Among the companies most affected, the analysts named Shell, BP, TotalEnergies, Exxon, and Chevron, all of which have big LNG trading businesses that
(Investing) – Advisers to U.S. President-elect Donald Trump are urging him to take a patient approach to restarting approvals for liquefied natural gas export licenses, fearing rapid approvals will only get overturned in court, according to two sources familiar with the discussions. The recommendations offer a preview of the challenges Trump will face as his bold campaign promises to slash regulation and unfetter
(Oil & Gas 360) – HOUSTON–(BUSINESS WIRE)– Cheniere Energy, Inc. (“Cheniere” or the “Company”) (NYSE: LNG) today announced that liquefied natural gas (“LNG”) was produced for the first time from the first train (“Train 1”) of the Company’s Corpus Christi Stage 3 Liquefaction Project (“CCL Stage 3”). The commissioning process continues, and Cheniere expects substantial completion of Train 1 to be
(Oil Price) – U.S. LNG developer and producer Venture Global is set to produce the first liquefied natural gas from its newest project, Plaquemines LNG, as soon as this week, but the commissioning phase will last up to two years during which Venture Global will keep all revenues. The first production at Plaquemines LNG, possibly this week, would be the first
(Investing) – U.S. natural gas producers will boost output in 2025 following a series of production cuts this year, as rising demand from liquefied natural gas export plants is expected to increase prices that had fallen to multi-decade lows. U.S. production is on track to decline in 2024 for the first time since 2020, when the COVID pandemic reduced demand, according to the
(BOE Report) – President Joe Biden’s administration has asked the European Union to ensure liquefied natural gas shipments that meet U.S. methane regulations automatically comply with Europe’s standards for imports, according to a letter seen by Reuters. Linking U.S. and EU methane standards would safeguard United States’ growing LNG trade with Europe while also cementing Biden’s methane rules, even if
(Oil Price) – Two of the world’s latest oil exploration hotspots, South American neighbors Guyana and Suriname, could become major LNG exporters early next decade if they develop the vast non-associated natural gas resources discovered in their offshore blocks. The resource is there, the costs could be competitive, and export destinations plentiful—from other countries in central and South America to Southeast
(Yahoo Finance) – LONDON – Shell reported on Thursday third-quarter profits of $6 billion that exceeded forecasts by 12% as higher liquefied natural gas (LNG) sales offset a sharp drop in oil refining and trading results. The results, together with a drop in debt and strong cash flow, could lift investor confidence in CEO Wael Sawan’s efforts to boost the company’s
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