Saudi Aramco Discusses LNG Purchase to Support Commonwealth LNG's Market Growth
Oil giant Saudi Aramco is in talks with Commonwealth LNG to buy liquefied natural gas from the U.S. company's proposed facility in Cameron, Louisiana, as it seeks to strengthen its position in the market for the superchilled fuel, four people told Reuters on Wednesday.The talks are for 2 million tons per annum (mtpa), two of the people said.Aramco and Commonwealth LNG did not immediately respond to Reuters requests for comment.If a deal is struck…
Sources: Saudi Aramco and Commonwealth LNG in negotiations for an offtake agreement
Four people said that Saudi Aramco, the oil giant, is in discussions with Commonwealth LNG about buying liquefied gas from its proposed Cameron, Louisiana facility. The company wants to improve its market position for super-cooled fuel. Two people confirmed that the talks concern 2 million tonnes per annum. Aramco and Commonwealth LNG didn't immediately respond to comments. If a deal can be reached, Commonwealth LNG will get closer to its goal of selling 8 mtpa of the 9.5 mtpa capacity of the plant.
Saudi Aramco CEO: Oil and gas is important during times of conflict
Saudi Aramco's head told a Monday energy conference that oil and gas are important in times of conflict, as we can see right now. Aramco CEO Amin Nasser gave his speech at the Energy Asia Conference held in Kuala Lumpur via video link. The oil prices rose last week, after Israel, claiming to have launched attacks against Iran on Friday in order to stop Tehran from building atomic weapons, said that they were meant to prevent Tehran. Over the weekend, fighting intensified.
Egypt To Buy Up To 160 LNG Cargoes Through 2026
Egypt has reached agreements with several energy firms and trading houses to buy 150 to 160 cargoes of liquefied natural gas, as it ramps up purchases to meet power demands despite strained government finances, industry sources said.The world's most populous Arab country has endured rolling blackouts over the past two years as natural gas supply fell short of demand. It returned to being a net importer of gas last year, buying…
Sources say that Egypt has agreed to purchase up to 160 LNG cargoes by 2026.
Industry sources familiar with the matter said that Egypt has signed agreements with various energy firms and trading companies to purchase between 150-160 cargoes liquefied gas (LNG) from now until 2026 to meet its power needs. Gas purchases will cost over $8 billion at current prices and add to the pressure already placed on the government's coffers, which are already struggling to keep lights on in the face of falling gas production, rising costs, and an economic crisis.
Saudi Aramco may soon issue Islamic bonds as a prospectus suggests
Saudi Aramco published a prospectus for a programme to issue Islamic bonds, or sukuk. This indicates that the state oil giant may tap debt markets soon after raising $5 billion in a three-part sale of bonds this week. The prospectus submitted to the London Stock Exchange, where the sukuk will be listed, dates May 30. Aramco is allowed to issue sukuk for a period of one year under the terms. Aramco raised $5 billion earlier this week through the sale of conventional bonds.
NextDecade, JERA Sign 20-Year LNG Supply Deal
U.S. liquefied natural gas producer NextDecade said on Thursday it had signed a 20-year deal to supply Japan's biggest power generator JERA with 2 million tonnes per annum of LNG from its Rio Grande project's fifth liquefaction facility.Shares of NextDecade were up 5.5% at $8.11 in early trading.The United States is the world's largest exporter of LNG, shipping 11.9 billion cubic feet per day of the supercooled fuel in 2024…
Saudi Aramco is considering asset sales as a way to raise funds, according to sources
Two people familiar with the matter have confirmed that Aramco, Saudi Arabia's state-owned oil company, is looking at selling assets to raise funds as it continues its international expansion while coping with lower crude prices. Aramco, the largest oil company in the world and the primary source of Saudi revenue, is the biggest oil producer on the planet. As oil prices fall, the firm will cut dividends by almost a third.
Saudi Aramco is considering asset sales as a way to raise funds, according to sources
Two people familiar with the matter have confirmed that Aramco, Saudi Arabia's state-owned oil company, is looking at selling assets to raise funds as it expands internationally and deals with lower crude prices. Aramco, the largest oil company in the world and the primary source of Saudi revenue, is the biggest oil producer on the planet. As oil prices fall, the firm will cut dividends by almost a third. Sources said that…
Egypt In Talks to Buy LNG Cargoes Amidst Energy Crunch
Egypt is in talks with energy firms and trading houses to buy 40-60 cargoes of liquefied natural gas (LNG) amid a worsening energy crunch ahead of peak summer demand, three sources aware of the matter told Reuters.The country faces spending up to $3 billion at current prices to secure the LNG, squeezing government coffers already under strain to keep the lights on amid falling gas production and a cost of living crisis.President…
Sources say Egypt is in talks with suppliers to purchase 40-60 LNG cargoes during this year due to the energy crisis.
Three sources familiar with the matter said that Egypt is in discussions with international energy companies and trading houses about buying 40-60 cargoes (LNG) of liquefied gas to ensure emergency fuel imports ahead of summer peak demand amid an worsening energy crisis. According to the latest available data from the Joint Organisations Data Initiative, Egypt's gas production fell by 39% in February to its lowest level in 9 years. It was 3.3 billion cubic meters.
US LNG Exporters Continue New Projects Despite Trade War Uncertainty
Woodside Energy's decision last month to proceed with its Louisiana LNG export facility was the first of over 90 million tonnes of new LNG shipping capacity U.S. companies plan to approve this year despite uncertainty about President Donald Trump's trade war, according to company statements and analysts.The U.S., already the world's largest exporter of the superchilled gas with 91.3 million tonnes of annual capacity, should triple that before 2030 thanks to projects awaiting final investment decisions.
Woodside Australia and Saudi Aramco Sign Deal for Potential Louisiana LNG Share Buy
Woodside Energy, a company based in Australia, announced on Wednesday that it had signed a non-binding deal with Aramco for the exploration of opportunities. This included the possibility of the Saudi Arabian firm acquiring a stake in the Louisiana LNG Project. Woodside, Australia’s largest gas producer, has given the final approval to build the $17.5-billion liquefied gas project in Louisiana. The company was confident that a fossil fuel-friendly U.S.
Aramco signs MoUs for 6.2 Million Tons of LNG with NextDecade and Sempra
Saudi Aramco, the oil giant, will sign memorandums of understanding on Tuesday with NextDecade, a U.S. natural gas producer, and Sempra, a utility firm, according to Aramco’s CEO. The move comes as Aramco expands its LNG market. Amin Nasser, CEO of Aramco, told the U.S. Saudi Investment Forum that "the U.S. He added that the U.S. was a great place to invest, pointing out that Sempra would be supplying around 6.2 millions tons of LNG to Aramco under the MoUs. In the coming years, producers plan to double their capacity.
Aramco's executive claims that oil demand may increase if the tariff dispute is resolved
Aramco, the Saudi oil giant and a cash cow of the kingdom for many years, is expecting oil demand to be resilient this year. It also expects further upsides if the U.S.-China trade dispute is successfully resolved. Washington and Beijing agreed earlier Monday to temporarily reduce reciprocal tariffs, in a deal which exceeded expectations. The two world's largest economies are seeking to end the damaging trade war which has stoked recession fears and roiled financial market.
Aramco's executive claims that oil demand may increase if the tariff dispute is resolved
Aramco, the Saudi oil giant and a cash cow of the kingdom for many years, is expecting oil demand to be resilient this year. It also expects further upsides if the U.S.-China trade dispute is successfully resolved. Washington and Beijing agreed earlier Monday to temporarily reduce reciprocal tariffs, a deal which exceeded expectations. The two world's largest economies are seeking to end the damaging trade war, which has raised fears of a recession and rattled financial markets.
Sources say that the price of Saudi crude in China will surge after a fall in May.
Saudi Arabian crude oil supplies to China are expected to increase in May compared with the previous month, as the sharp price reduction by the Kingdom has attracted increased demand. A tally of the allocations made to Chinese refiners in May showed that Saudi Aramco, the state oil company, will ship 48 million barrels. This is up from 35.5 million barrels in April. Aramco has increased its allocation to China for the first time since the start of the year.
Japan's Terra Drone will boost collaboration with Saudi Aramco in inspections
Terra Drone, a Japanese startup that uses drones to inspect and survey energy infrastructure, has announced it is increasing its cooperation with Saudi Arabian state-owned Aramco in order to inspect oil and natural gas facilities. Terra Drone, a Japanese company, has signed an agreement with Aramco that will allow it to test its drones in Saudi Arabia. This is expected to begin later this year or early next. Terra Drone stated that the actual operation of the inspections will begin in 2027.
Aramco CEO: More likely Elvis will speak than energy transition plans to succeed
Saudi Aramco's CEO said Monday that policymakers and energy executives should rethink their energy transition plans. They must stop investing in elements of the energy transition which have failed and instead rethink the entire energy transition. The remarks from the head the world's biggest oil company comes as the administration under President Donald Trump pushes for maximum oil and gas production. This is a dramatic U turn in U.S.
Orlen's quarterly EBITDA in Poland increases 73.8% year-on-year
Orlen, a Polish energy company, reported Thursday a 73.8% increase in earnings before interest taxes, depreciation, and amortization. This was slightly higher than analysts' expectations of 11,11 billion. The strong performance in the upstream and gas segment drove this. The company announced that it would recommend an increase in dividends to 6 zlotys for each share, from 4.15 zlotys for 2023. This amount is made up of a progressive dividend guaranteed of 4,50 zlotys and an additional premium, of 1,50 zlotys.
