Trinidad and Tobago wins four deepwater oil and natural gas blocks
The auction of deepwater exploration and production blocks for oil and gas in Trinidad and Tobago failed to attract much interest from foreign investors. Only four out of 26 areas were offered. Trinidad's Ministry of Energy announced that the bidding round ended on Wednesday. The Chinese company CNOOC bid for three blocks and a group of smaller energy companies for another. Ernesto Kesar, Trinidad's junior energy minister, stated that with several auctions taking place in Latin America and a limited pool of deepwater energy companies, Trinidad has a realistic view of the difficulties of obtaining significant bids.
Exxon expects EU to sign long-term US gas deals, FT reports
The Financial Times reported that ExxonMobil expected the European Union would sign multi-decade contracts for U.S. natural gas as part of its pledge to purchase billions of dollars in American energy. As part of a broad trade agreement with Washington, the EU pledged in July to buy 750 billion dollars of U.S. power by 2028. Exxon, as well as the EU, did not immediately respond when contacted for comment. Peter Clarke is the senior vice president for Exxon’s liquefied gas business. He told The Financial Times that Europe's growing LNG infrastructure makes it "logical" to commit longer-term to supply. Exxon already sells around 80% of its LNG through such contracts.
GASTECH-China-Russia pipeline plans do not affect Asian demand for US LNG, according to Venture Global CEO
According to Michael Sabel of Venture Global LNG (the second largest U.S. LNG exporter), recent gas agreements between China, Russia and other countries are unlikely to affect Asian demand for U.S. LNG. China, which is the largest LNG importer in the world, signed agreements on September 2 for a boost of gas supply via the existing Power of Siberia pipe and to build Power of Siberia 2. This has raised concerns that it could reduce China's appetite to import LNG. Sabel said on the sidelines at the Gastech conference, in Milan: "Don't be distracted by the short-term impact of politics.
ConocoPhillips will purchase LNG from NextDecade Rio Grande Train 5 Project
ConocoPhillips, a U.S. oil producer and gas exporter, will buy 1.0 million tonnes of liquefied gas per year from NextDecade Rio Grande's Texas export facility for 20 years. NextDecade, also known by the name of a train or its fifth liquefaction plant, will provide superchilled fuel at Rio Grande from their fifth liquefaction unit. The shares of the LNG producer increased 2.3% during extended trading. Since President Donald Trump lifted the pause on new permits for exports in January, there has been a boom in commercial activity in the U.S. Liquefied Natural Gas sector.
EQT Corp. signs 20-year LNG contract with Commonwealth LNG Louisiana facility
The companies announced on Monday that the U.S. energy company EQT Corp would purchase 1 million tonnes of liquefied gas per year (mtpa), from Commonwealth LNG’s planned export facility on the Gulf Coast, near Cameron, Louisiana. EQT will purchase the LNG at a fixed price indexed by Henry Hub, and market and optimize their cargos on an international level. The company stated that the additional export capacity would allow EQT's domestic direct-to customer strategy to be expanded into global energy markets. Commonwealth LNG has been in the news this week. The U.S.
NextDecade's Rio Grande Train 5 Export Facility will supply EQT with LNG
The companies announced on Wednesday that U.S. energy company EQT would purchase 1.5 million tons of liquefied gas per year from NextDecade’s Rio Grande Export Facility in Texas, for a period of 20 years. NextDecade, also known by the name of a train or its fifth liquefaction plant, will provide superchilled fuel at Rio Grande from their fifth liquefaction unit. The agreement is on a free on-board basis, at a price indexes to Henry Hub. This will only be possible if NextDecade makes a positive Final Investment Decision (FID) for Train 5. The companies didn't disclose the financial costs of the deal. The commercial activity in the U.S.
Azule Energy to Invest $5b in Angola
Azule Energy, the joint venture between Italian oil and gas explorer Eni and BP, expects to invest another $5 billion in Angola over the next four to five years, Eni's Chief Operating Officer Guido Brusco told Reuters on Wednesday.The latest investment in both new and existing projects will match investments in oil and gas projects since the joint venture launched three years ago in Sub-Saharan Africa's No.2 oil producer.Angola has overhauled its regulatory regime, wooing new investments as the former OPEC member looks to maintain oil production above 1 million barrels a day."We have in the next four to five years 18 wells to be drilled on which two-thirds are operated by Azul
Highest Ever US LNG Exports Recorded in August
U.S. exports of liquefied natural gas (LNG) reached an all-time high in August as plants exited planned maintenance programs and Venture Global's Plaquemines facility continued to increase output, preliminary data from financial firm LSEG show.August exports totaled 9.33 million metric tons, beating the previous monthly record set in April of 9.25 million tons and higher than the 9.1 million tons exported in July, according to LSEG data.Plaquemines is the second-largest LNG plant in the U.S. with a capacity of 27.2 million tons per annum (MTPA) and has increased production every month since it started up in December 2024…
US LNG exports record highest ever in August
LSEG's preliminary data shows that U.S. LNG exports reached a record high in August, as plants completed planned maintenance and Venture Global’s Plaquemines plant continued to increase production. According to LSEG, August exports totaled 9,33 million metric tonnes, surpassing the previous monthly record of 9.25 millions tons set in April and exceeding the 9.1million tons exported in July. Plaquemines, the second largest LNG plant in the U.S., has a capacity to produce 27.2 million tonnes per year (MTPA). Its production has been increasing every month since its start-up in December 2024. This helps the U.S. remain the world's leading LNG exporter.
Nigeria signs contract for deepwater oil with TotalEnergies
Nigeria signed a Production-Sharing Contract (PSC) for two offshore blocks with TotalEnergies, and South Atlantic Petroleum. The contract is part of a new oil framework that aims to increase exploration and attract investors. Nigeria, Africa’s largest oil exporter, seeks to revitalize its upstream industry amid global energy transition and declining investments in fossil fuels. The deal includes petroleum prospecting licenses 2000 and2001, which were awarded in the licensing round of 2024. It covers approximately 2,000 square kilometers (772 square miles), and is located within the Niger Delta Basin.
Egypt signs $340 million oil and gas exploration deal with global firms
The Petroleum Ministry announced on Saturday that Egypt had signed four agreements worth $340 million with international companies to explore for oil and gas along the Mediterranean and Nile Delta. The state-owned Egyptian Natural Gas Holding Company, or EGAS, has signed a deal that will see 10 wells drilled as part of efforts by the Ministry to increase exploration and production. Egypt, a once-prominent regional exporter, is increasingly importing to meet the rising demand at home, as production from old fields declines and investment in new ones lags.
Egypt boosts gas production with two new West Delta Wells
Egypt's Petroleum Ministry announced on Friday that the two deepwater West Delta wells have been brought online. This will add about 60 million cubic foot per day (mcfd), of natural gas, to Egypt's production. Egypt is looking to increase gas production to meet the domestic demand after increasing reliance on imports. The West Delta's new output includes 50 mcfd of gas from the Sapphire South Central DP, the third well drilled as part of phase 11 West Delta Deep Marine Development with Shell investment, and 10 mcfd produced by the Scarab D4 after it was brought back online. Egypt, a former regional gas exporter, now imports some of its gas due to its declining production.
Bloomberg News: EQT and NextDecade are in discussions for LNG supply
Bloomberg News reported Wednesday that EQT Corp was in discussions to purchase liquefied gas from NextDecade’s export terminal in Texas. The report was based on people who are familiar with the situation. The report stated that under the terms of a potential deal, EQT will load super-chilled gas from Rio Grande LNG's export facility. EQT and NextDecade didn't immediately respond to a request for comment. The commercial activity in the U.S. Liquefied Natural Gas sector has increased rapidly since President Donald Trump lifted his moratorium on new permits for exports shortly after taking office.
Climate group: Methane emissions in Brazil's beef-rich country are increasing
Brazil's methane emission increased by 6% between the years 2020 and 2023. The world's biggest beef exporter released 21,1 million tons of this potent greenhouse gas. This was the second highest level in history. According to a report released on Wednesday by the Climate Observatory, 34 of Brazil's total methane emissions are attributed to the beef and dairy cattle industry. This accounted for approximately 14,5 million tons in 2023. That is the equivalent of 406 millions tons of CO2 equivalent. The Climate Observatory reported that this figure was higher than all greenhouse gases produced by Italy during the same period.
Brazil is the largest beef exporter in the world. Methane emission levels are rising.
According to a study released by the Climate Observatory on Wednesday, three-fourths of Brazil's methane gas emissions were linked to beef and dairy cattle production, which accounted for 14.5 million tons of total emissions in 2023. This is the equivalent of 406 millions of tons of carbon dioxide (CO2) equivalent. According to a report released on Wednesday by the Climate Observatory, Brazil's methane emissions are largely linked to the production of beef and dairy cows. In 2023, this equated to 14.5 million tonnes of emissions, or 406 millions tons of CO2 equivalent.
Brazil's Conab reduces 2025/26 Sugar Production Forecast
Conab, Brazil's national agricultural agency, cut its forecast of sugar production for the 2025/26 year to 44.5 million tons on Tuesday. The reason given was bad weather conditions that affected sugarcane cultivation. This revision represents a 3,1% reduction in Conab’s April estimate. Conab announced that the sugar production in the center-south region, which is the main area for the industry, will now be forecast at 40,6 million tons. This is down 2,8% from April's forecast of 41,8 million tons. Conab said that despite the lower projections…
Tokyo Gas to Buy LNG from Venture Global
Tokyo Gas is in discussions with Venture Global to purchase 1 million metric tonnes per annum of liquefied natural gas from the company's CP2 export facility, three people with knowledge of the talks told Reuters on Monday.Venture Global is the second largest U.S. LNG exporter and since 2023 has been the main source of the country's growing LNG export capacity, helping the U.S. remain the world's largest exporter of the superchilled gas.Tokyo Gas is negotiating the purchase of LNG from Venture Global on a 20-year contract, two of the three people told Reuters.
Russell: China's thermal coal imports surge as India's tumble
In August, China's seaborne thermal coal imports are expected to reach their highest level this year while India's top buyers slump to a three-and-a half-year low. The two largest importers of this fuel, which is mainly used to generate electricity, have divergent trends. This is largely due to the interaction between coal production on their home markets and the increasing use of renewable energy. According to commodity analysts Kpler, China's seaborne thermal coal imports are expected to reach 25,63 million metric tonnes in August. This is up from 22,77 million metric tons during July, and the highest since December of last year.
US Opens National Security Investigation into the Import of Wind Turbines
The U.S. Commerce Department said on Thursday it has opened a national security investigation into the import of wind turbines and components.Earlier this week, the department said it was adding wind turbines to a list of products that will face 50% tariffs on the aluminum and steel content. The "Section 232" investigation, which was opened on August 13 but not made public until now, could be used as a basis for even higher tariffs on imported wind turbines.Energy research firm Wood Mackenzie said approximately two-thirds of the value of a typical U.S. wind turbine is imported.U.S.
ConocoPhillips to Buy 4 Million Tons LNG from Sempra's Port Arthur Phase 2 Project
U.S. oil and gas producer ConocoPhillips said on Thursday it would secure 4 million tonnes per annum of liquefied natural gas from Sempra's Port Arthur LNG Phase 2 project in Texas to serve key global markets.Commercial activity in the U.S. LNG sector has picked up pace after President Donald Trump lifted a moratorium on new liquefied natural gas export permits soon after taking office in January.ConocoPhillips will buy LNG over a 20-year term on a free-on-board basis, the company said in a statement.The United States is the world's largest LNG exporter, with a total capacity that is expected to reach 115 million metric tons per annum this year, according to the U.S.