Venezuelan oil reform encourages immediate investments, but executives still need to go deeper
Foreign and local executives and attorneys said that a proposed reform to Venezuela's oil laws is sufficient to encourage existing companies to expand, and to start investing. However…
Trinidad's Atlantic LNG Project to Decommission Liquefaction Train
Trinidad and Tobago's flagship liquefied natural gas project, Atlantic LNG, will begin removing one of its liquefaction trains from operations in the last quarter this year, its director for capital projects…
US energy sector reels as winter storm knocks 2 million bpd crude production
Analysts and traders estimate that U.S. producers lost as much as 2 million barrels per day or 15% of their production during the weekend. This was due to a winter storm which ravaged the nation…
US natgas Futures Soar 119% in Five Days as Freezing Wells Cut Output to Two-Year Low, Short Covering
In Supply According This This According Met These If The Week Week Residential 33.7 44.6 36.8 28.4 29.9 U.S. Power Plant 35.2 39.1 35.6 34.4 32.5 U.S. Industrial 26.7 28.4 27.2 25.3 26.0 U.S.
US energy sector reels as winter storm knocks 2 million bpd crude production
Analysts and traders estimate that U.S. producers of oil lost up to two million barrels per day, or about 15% of the nation's production, over the weekend as a winter storm swept through the country…
Tanzanian minister: Tanzania will sign $42 billion mega LNG Project before June
A senior government minister said on Monday that Tanzania is expecting to sign a deal before June for its $42 billion project to build a liquefied gas plant. Production will begin in eight years.
Trinidad's BP head says the company is interested in cross border opportunities with Venezuela
BP's Trinidad and Tobago head said Monday that the oil and?gas?major was still interested in cross border opportunities with Venezuela despite a?government in Caracas that suspended…
US natgas Futures Soar 89% in Five Days as Freezing Wells Cut Output to Two-Year Low
U.S. Natural Gas Futures rose by an unprecedented 89% in a period of?five days, reaching a three-year-high on Monday. This was after a weekend Arctic blast froze oil and gas wells. The result?
Abu Dhabi's XRG raises Rio Grande LNG project stake
Abu Dhabi's state-owned energy company, XRG, announced on Monday that it was buying an additional 7.6% stake in two liquefied natural gas trains in the Rio Grande LNG Project in Texas.
Houston, the US oil capital, is buzzing as industry prepares for Venezuelan oil rush
Matthew Goitia explains his idea in a bar downtown Houston. He wants to build and refurbish marine terminals for Venezuela that will allow crude oil to be blended and exported, and chemical products shipped.
Ecoceres CEO: New Malaysian plant nearing full capacity at new biofuels firm Ecoceres
Ecoceres, a biofuel producer in Malaysia, said that its new plant for converting used cooking oil to sustainable aviation fuel was running at nearly full capacity. The plant is located at Tanjung Langsat…
German spot prices rise on declining wind production
On Monday, the German baseload contract increased due to a lower supply of wind power and an increase in demand. In contrast, opposite trends are expected for?the nearby regions. LSEG…
EU countries approve the final Russian gas ban
The European Union gave its final approval on Monday to the bloc's plan that would ban Russian gas imports until?late 2027. This will allow it to become law. This policy gives legal…
EUROPE GAS Prices Hit Multi-Month Highs Due to US Winter Storm and Storage Concerns
Dutch and British gas contract prices rose Monday morning to their highest level in nearly 10 months as the freezing weather in the U.S. curbed LNG exports. This also raised concerns about?European gas storage levels.
Data shows that Russia will ship its first cargo of Arctic LNG 2 this year to China.
LSEG data revealed that the first liquefied 'natural gas' cargo of this year from Russia's sanctioned Arctic LNG 2 facility was discharged to China's Beihai LNG Terminal. According to data…
Darwin LNG begins shipments on the Kool Blizzard with its first cargo
Ship-tracking data revealed that the Darwin liquefied gas plant (DLNG), operated by Australian oil producer?Santos since restarting operations, had exported its first shipment. The…
As Europe Premium widens, LNG tankers divert their eastbound route
Shiptracking data shows that traders are taking advantage of higher gas prices in Europe compared to Asia by diverting two LNG tankers originally bound for Asia towards Europe and Turkey.
Baker Hughes, a provider of oilfield services, reports a 11% increase in its adjusted quarterly profits
Baker Hughes reported a 11% increase in 'adjusted profits' for the fourth quarter, as demand for?its gas-technology equipment and services outweighed weakness in its oilfield equipment and services business.
The US Electric Grid is stressed by the cold weather
Electric grid operators in the U.S. took extra precautions on Saturday to avoid rotating blackouts, as frigid temperatures hit half of America's population. The PJM Interconnection – the largest?U.S.
Analysts and state regulators say that US crude production will fall due to cold weather.
Energy Aspects reported that state regulators and analysts?said? on Friday that U.S. crude production is expected to'slip' as cold weather forces operators to shut down?production? in key-producing areas.