BP discovers oil off US Gulf Coast
BP announced on Monday that it had made an oil find at the Far South Field in the U.S. Gulf of Mexico. The energy giant is seeking to increase production as part of a new strategy, which was announced earlier this summer.
Tokyo Gas, Japan expands its US shale-gas business with Chevron
TG Natural Resources LLC, co-owned by Tokyo Gas, Castleton Commodities International and Castleton Commodities, announced on Tuesday that it had purchased a 70% stake of east Texas gas assets for $525m from Chevron, in order to expand its U.S. Gas business.
US considers cutting funding to four of seven hydrogen hubs
According to a source familiar with the issue, the U.S. Department of Energy has considered cutting funding to four of seven hubs for hydrogen that were chosen under a $7-billion federal program. The hubs are part of the…
Bloomberg News reports that Trump will approve Venture Global LNG exports to Louisiana from the project.
Bloomberg News reported that the U.S. administration of President Donald Trump is expected to grant Venture Global LNG conditional permission to export natural gases from a proposed Louisiana plant, which was delayed under former president Joe Biden.
BP CEO: It's time to increase U.S. production of gas
HOUSTON, 11 March - BP will increase U.S. Natural Gas production in its onshore shale operation following the recent rise of domestic gas prices. CEO Murray Auchincloss announced this on Tuesday. Auchincloss said at the CERAWeek…
CERAWEEK - Mexico's Pemex prioritises refining while diverting heavy oil from the Gulf
Margarita Perez of PMI, Mexico's company that handles trading, said Tuesday that Pemex, Mexico's state-owned oil company, expects to divert barrels of heavy crude from U.S. Gulf Coast refining companies as it ramps up its Olmeca refinery.
Expand Energy is on track to increase US natgas production to meet the growing demand
Expand Energy, previously known as Chesapeake Energy, and the largest natural gas producer in America, announced on Thursday that it is on track to increase output by over 5% from the levels expected in 2020, as long as the market conditions allow for such an action.
The cold weather in the US boosts diesel prices, but masks economic challenges
Since the beginning of the year, the cold temperatures in the Northeast U.S. have led to an increase in demand for heating oil. This has helped to offset the slowdown in recent years due to reduced industrial activity. The Energy Information Administration (EIA)…
Japan's JERA is seeing increased competition for US LNG from Asia and Europe
JERA, Japan's largest power generator, expects the competition for U.S. LNG to grow as Asia and Europe increase their demand. There are many buyers. Asian and European buyers really want U.S. Energy. There are many competitors…
Minister says Canada's Alberta is looking to Japan for new LNG contracts amid US tariff threats
Rebecca Schulz is the minister for environment and protected areas in Canada's Alberta, which is a major producer of gas. She said that expanding into Japan was an important goal in light of a U.S. Tariff threat. Schulz,…
Goldman Sachs raises US gas price forecast amid colder winter
Goldman Sachs raised its forecast of U.S. Natural Gas prices from $3.00 per million British Thermal Units (MMBtu), to $3.60 for 2025. This is due to tighter gas balances in this winter, as a result of colder than average temperatures.
Canadian, WTI Crude Prices to Asia Jump
Prices of Canadian and U.S. West Texas Intermediate crude oil to Asia jumped after shipping costs rallied on concerns that wider U.S. sanctions on the Russian fleet are tightening ship availability, trade sources said on…
European gasoline glut affects global margins
As a result, gasoline stocks in Europe reached a record-high as exports fell due to increased refinery runs in Nigeria and the United States. This led to the profit margins for European and U.S. refineries to fall to a 15 month low in January.
EIA: Cushing Crude Stocks fall to Decade-low levels
U.S. crude stocks fell last week, driving the Cushing, Oklahoma hub to a 10-year low, while fuel inventories surged, the Energy Information Administration (EIA) said on Wednesday.Crude inventories fell by 959,000 barrels to 414.6 million barrels in the week ended Jan.
Phillips 66 sells stake in Texas pipeline to $865 million
Phillips 66 announced on Monday that it will sell its 25% stake of the Gulf Coast Express pipeline, located in Texas, to an ArcLight Capital Partners affiliate for $865 millions. This puts the U.S. refiner in a position to surpass its asset sale goal.
US Energy Department: Two LNG reviews must be waited for by regulator
The U.S. Department of Energy announced on Tuesday that it will not be able to finish its reviews of two proposed liquefied gas export terminals planned for Louisiana until an independent regulatory agency completes their environmental assessments of these projects.
USDoE: LNG Reviews must await EIA's
The U.S. Department of Energy announced on Tuesday that it will not be able to finish reviews of two projects for liquefied gas in Louisiana until a regulatory agency independent of the Department has completed its environmental…
US Diesel Exports to ARA Set to Rise
Diesel shipments from the U.S. Gulf Coast to Europe's main trading and refining hub, the Amsterdam-Rotterdam-Antwerp (ARA) region, are set to rise owing to improving export margins on the back of scarce supply in Europe and rising U.S.
Poten & Partners addresses Rising LNG Terminal Costs
Rising costs of building and equipping new U.S. liquefied natural gas plants will reduce the competitiveness of U.S. gas exports, LNG analysts at Poten & Partners predicted on Tuesday.The Biden administration's export permitting…
Woodside CEO: Louisiana LNG project to be partnered with several companies by March
Woodside Energy's CEO said that the company expects to have several partners in its Louisiana liquefied gas project by the time it gives financial approval to the U.S. Project, which is expected to be the first quarter of 2020.
