Australia Set to be the King of LNG Exports
Australia is on track to surpass Qatar as the world’s largest LNG exporter, according to Australia’s Department of Industry, Innovation, and Science (DIIS).Australia already surpasses Qatar in LNG export capacity and…
Woodside Q1 Revenue Rises 4%
Australia's Woodside Petroleum Ltd on Thursday posted a 4 percent rise in first-quarter revenue on higher realized prices for its oil and gas.Revenue rose to $1.22 billion for the three-months ended March 31, compared to $1.17 billion a year ago.Australia's largest list
GasLog: LNG Demand Grew 9% in 2018
Liquefied natural gas (LNG) is expected to have increased by 9%, from 288 million tonnes per annum (mtpa) in 2017 to 313 mtpa in 2018, said GasLog.The Monaco-based owner, operator and manager of LNG carriers said in a…
Woodside Raises Dividend
Australia's Woodside Petroleum Ltd surprised investors with a fat dividend on Thursday after reporting a 36-percent percent rise in annual profit, underpinned by stronger oil prices.The higher-than-expected payout came…
Woodside Boosts Spending for Next Leg of Growth
Australia's Woodside Petroleum Ltd on Thursday flagged higher-than-expected investment spending for 2019 as it steps up early work on the two big natural gas developments that will drive its growth in the next decade.Australia's…
Woodside Petroleum Half-year Profit Rises
Australia's Woodside Petroleum Ltd said on Wednesday that its first-half net profit rose 6 percent and it raised its 2018 production outlook after strong performances from its Wheatstone and Pluto LNG projects.For the 2018 fiscal year…
Chevron to Idle Gorgon LNG Unit in May
Chevron will idle the second production unit at its Gorgon liquefied natural gas (LNG) project in May to carry out modifications already implemented at the other two units, a senior executive said.Pat Yarrington, Chevron's vice president and chief financial officer…
Chevron Greenlights Gorgon LNG Expansion
Chevron Corp will proceed with the second stage of its giant Gorgon liquefied natural gas (LNG) export plant off the northwest coast of Western Australia, the company said on Saturday.Chevron and its joint venture partners…
Chevron Expects LNG Supply Shortage by 2025
Chevron Corp said on Tuesday it expected supply shortage in the global liquefied natural gas (LNG) market by around 2025, echoing comments made last month by top LNG trader Royal Dutch Shell. Demand for natural gas, which burns cleaner than coal and oil…
Next-wave LNG Terminals get Smaller, More Flexible
The liquefied natural gas market is growing every year, but the terminals that ship and receive the fuel are shrinking. The booming sector's next-generation infrastructure is being designed for a emerging-market buyers that want smaller volumes on shorter…
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).
ExxonMobil, Chevron, Shell Paid No Tax in Australia for 2016
Oil, gas giants paid no Australian tax in 2016; but commodity rebound seen boosting tax revenue in 2017. Exxon Mobil Corp and Chevron Corp paid no tax in Australia in the 2016 financial year, the third year in a row,…
LNG Shipping on Recovery Path: Golar
The shipping market recovery is underway, says Golar LNG. Shipping demand has exceeded supply growth for the first time since 2013. "The shipping market is showing strong signs of improving. As of today, the effective…
LNG Over-Supply Narrative Still Valid?: Russell
Liquefied natural gas (LNG) is supposed to be a deeply over-supplied market, but it doesn't appear to be behaving as such in the major consuming region of Asia with strongly rising prices amid robust demand growth. In…
Chevron Starts LNG Output at Wheatstone Project
Chevron Corporation announced it has started producing liquefied natural gas (LNG) at the Wheatstone Project in Western Australia. The first cargo is on track to be shipped in the coming weeks. “First LNG production is…
Australia Ramps Up LNG Exports
Australia LNG exports tipped to rise to 74 mt in 2018-19; Australia's share of Japan, Korea LNG imports seen growing. Australia expects to increase exports of liquefied natural gas (LNG) by 16 percent from mid-2018 as $180 billion in new projects hit their stride…
Future of LNG's Asian Rally Uncertain
The spot price of liquefied natural gas (LNG) in Asia is enjoying its traditional surge ahead of peak winter demand, and the near 40 percent rally over the past six weeks probably has further to go. While exporters of…
Chinese Demand Ensures Asian LNG Rally Has Legs
Unexpectedly strong demand from China, along with rising oil and coal prices, should keep Asian liquefied natural gas (LNG) spot levels buoyant this winter. Despite rising supplies from new plants, spot prices have risen…
Exxon Mobil profit disappoints Wall Street, Chevron shines
Exxon Mobil Corp posted a rare earnings miss on Friday, the only international oil producer to do so last quarter, as production slipped in its African and Canadian operations. Exxon's results were overshadowed by rival Chevron Corp…
Global LNG Deals Set Bullish Tone as Peru Export Halt Tightens Market
Asian spot LNG prices stepped higher this week, shrugging off months of weakness, as Royal Dutch Shell replaced lost output from its Peru plant via spot markets and as a flurry of higher-priced deals surprised traders.
