TotalEnergies will supply LNG and is contributing a floating storage and regasification unit (FSRU) to the Deutsche Ostsee LNG import terminal in Lubmin on the German Baltic Sea coast, which will be inaugurated on Saturday, the French supermajor said on Friday. The project, whose inauguration will be attended by German …
Read More »Big Oil is Eyeing India for Big Investments
U.S. oil majors Exxon Mobil Corp and Chevron Corp—along with France’s TotalEnergies, are taking a long, hard look at upping their investments in India’s oil and gas exploration and production sector, India’s oil minister said in a Friday speech, carried by Reuters. ExxonMobil said back in December that its 2023 …
Read More »Chinese Solar Company Plans to Open a Factory in the U.S.
A Chinese solar panel maker is planning to open a factory in the United States despite trade tensions between the two. JA Solar Technology Co., one of the largest players in the Chinese solar panel field, has allocated $60 million for the facility, to be built in Phoenix, with completion …
Read More »Global LNG Imports Hit a Record High in 2022
Global imports of liquefied natural gas (LNG) hit a record high of 409 million tons last year, as Europe scrambled to replace Russian pipeline gas supply and outbid Asia to draw the majority of cargoes. The global LNG imports of 409 million tons in 2022 were up from world imports …
Read More »Oil Gains 3 Percent on Improvement in China’s Demand, Concerns about Russian Supplies
Oil prices rose in early trade on Thursday, building on gains in the previous session as China’s demand outlook improves and concerns rise over the impact of sanctions on Russian supply. Brent crude rose 50 cents, or 0.6 percent, to $83.17 per barrel by 0135 GMT, while US West Texas …
Read More »USA NatGas Demand could be on Track for Record Lows
U.S. natural gas demand could be on track to hit record lows in January if unseasonably warm weather sticks around, according to Rystad Energy Vice President Emily McClain. “Despite consistently robust LNG demand, totaling around seven million tons, particularly from European buyers, prices are falling and expected to continue bearish …
Read More »Egypt’s Natural Gas Exports Surge
Egypt exported some 8 million tons of liquefied natural gas last year, worth $8 to $8.5 billion, the country’s mineral resources ministry said this week, noting the price rally in liquefied natural gas that helped drive revenues higher. The North African country has solid ambitions in natural gas development, planning …
Read More »Oil Prices up over Fears of Weak Oil Demand in US
Oil prices slightly rose on Thursday over demand worries after a higher-than-expected increase in oil stockpiles in the US, the world’s largest oil consumer. International benchmark Brent crude traded at $82.75 per barrel at 09.22 a.m. local time (0622GMT), a 0.10% increase from the closing price of $82.67 a barrel …
Read More »Europe is still Attracting a Majority of U.S. LNG despite Price Plunge
Despite the recent plunge in the European benchmark gas prices to below the North Asian benchmark, Europe continues to attract most of the U.S. exports of LNG as demand in Asia is still weak. Last week, around 68% of the LNG shipments out of the United States were headed to …
Read More »Libyan Court Suspends Controversial Oil and Gas Deal with Turkey
A Libyan court has suspended a deal for offshore oil and gas exploration that Libya and Turkey inked last year, a deal that sparked outrage from neighbors Egypt and Greece. The deal concerned waters that Libya and Turkey have declared to be theirs but that are disputed by Egypt and …
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