New Fortress Energy anticipates lower LNG volume in the fourth quarter
Wesley Edens, CEO of New Fortress Energy's energy infrastructure division, said that the company expects a slight drop in liquefied gas (LNG), in the fourth quarter of 2024 due to repairs performed in October on a valve. Edens stated on a quarterly earnings call that its floating…
New Fortress Energy shares tumble after it misses earnings expectations
New Fortress Energy Inc missed its second-quarter earnings estimate on Friday due to delays in launching a floating LNG facility off the coasts of Altamira and Mexico. New Fortress' stock fell 21% in the morning of Friday on Nasdaq. According to LSEG, the company reported a quarterly net loss of $88M and a loss of 44 Cents per Share.
US Steps Up Heavy Crude Imports
U.S. refiners last month imported the most heavy crude in nearly two years, customs data showed, as they cranked up motor fuel production and sought to replace sanctioned Russian oil.Higher heavy-crude imports are common in summer-driving months, but this year's increase comes…
Aqueos Supports South Texas-Tuxpan Gas Pipeline
Aqueos Corporation said it has completed a major diving scope for the installation and commissioning of the South Texas-Tuxpan Gas Pipeline. The South Texas-Tuxpan Gas Pipeline is being constructed by a joint venture between TransCanada (60%) and Sempra Energy’s Mexican unit IEnova (40%), also known as Infraestructura Marina del Golfo (IMG).
Shell Gets Mexico LNG Supply Tender
Royal Dutch Shell will supply Mexico with six LNG cargoes to be delivered in May and June, Reuters has reported, citing trade sources. State-run utility CFE held a tender on 2 May for deliveries to Mexico’s Altamira terminal in the Gulf of Mexico. According to the tender, deliveries…
Asian LNG Spot Prices Jump on Chinese, Japanese Demand
Asian LNG spot prices jumped this week on strong demand from core importing countries including China and Japan. Spot prices <LNG-AS> for February delivery leapt 70 cents to $11.20 per million British thermal units (mmBtu). Malaysia's Petronas sold a January cargo to Japanese trading giant JERA an estimated $11 per mmBtu, trade sources said.
CFE Awards 9-Cargo LNG Tender for Q4 Delivery
Mexico's state-run power utility CFE has picked Royal Dutch Shell and most likely Cheniere Energy to deliver nine liquefied natural gas (LNG) cargoes in the fourth-quarter, trade sources said. Traders said Shell won most of the tender, which was awarded on Tuesday, with shipments to be spread across October…
BP Awards Angelin EPCIC Contract to McDermott
McDermott International, Inc. has been awarded an engineering, procurement, construction, installation and commissioning (EPCIC) contract from BP Trinidad & Tobago, LLC (bpTT) for the Angelin gas field, located 25 miles (40 kilometers) off the east coast of Trinidad and Tobago.
CFE Extends 2-Cargo LNG Tender Close by One Day
Mexico's state-run power utility CFE has extended the close of a buy tender seeking two liquefied natural gas (LNG) cargoes in April by one day to Wednesday, trade sources said. The deliveries are due to arrive at Mexico's Altamira terminal on the Atlantic coast. CFE just filled…
Brazil Blocks Belo Monte Dam Operation
A Brazilian federal court has revoked a lower court's injunction that had suspended the operating license for the Belo Monte hydroelectric dam, one of the world's largest, Brazil's Energy Ministry said in a Twitter post on Wednesday. The ministry said a decision from the federal…
Two Mexican Oil Ports Reopen after Dolly Downgraded
Two of Mexico's three main oil exporting ports in the Gulf of Mexico, Dos Bocas and Cayo Arcas, were reopened on Wednesday after major storm Dolly was downgraded, the country's communications and transport ministry said in a statement. Dolly, which was previously a tropical storm, weakened to remnant status on Wednesday, the U.S.
