LNG








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Oil & Gas Refining

LSEG data indicates that Freeport LNG export facility in Texas is on schedule to end its outage by Wed.

According to data provided by financial firm LSEG, the U.S. liquefied gas (LNG), Freeport LNG, export plant in Texas is on track to receive more natural gas after closing on Tuesday. This indicates that the plant has recovered from an outage. Freeport LNG officials were not available to comment immediately. Freeport reported to Texas environmental regulators on Tuesday night that the three liquefaction train at the export facility had been shut down Tuesday morning because of an interruption in the power supply. Freeport has been shut down by power problems in the past. Freeport is more vulnerable to power outages...

Oil & Gas Exploration

Coterra Energy, a producer of shale gas, reports higher quarterly profits and cuts its spending target

Coterra Energy, a U.S. producer of shale gas, reported an increase in its first-quarter profits on Monday. However, it said that due to the macroeconomic uncertainty they would reduce their annual budget for capital expenditures. The U.S. Energy Sector is preparing for possible fallout due to President Donald Trump's sweeping trade tariffs and a fierce trade war with China - factors that could decrease demand for oil and gas. Diamondback Energy, earlier today, also reduced its annual capital budget as well as production forecasts due to macroeconomic uncertainties affecting the global energy demand. Coterra CEO Tom Jorden said: "As we...

Oil & Gas Exploration

US LNG exports equal monthly record in April

LSEG data show that the United States equaled the record of the highest volume of liquefied gas exported in April as the capacity increased due to the ramp-up at Venture Global's Plaquemines facility. According to the U.S. Energy Information Administration, the U.S. already has the largest LNG export capacity in the world. It is expected that this will grow by 20% to 115 millions tonnes in 2025 after a record-breaking year in 2024. LSEG data shows that in April the U.S. exported 9.3 MT of LNG, which is the same as the previous monthly record. The startup of Venture Global’s...

Oil Storage

EIA delays US Natural Gas Weekly Storage Report

In a tweet posted on X, the U.S. Energy Information Administration announced that it would delay its weekly report on natural gas storage in the United States. The report is usually released at 10:30 am EDT (1430 GMT), on Thursdays. The EIA announced on X, "We will post the release as quickly as possible." We also said that we would give an hour's notice before publication. The EIA officials were not able to immediately explain why the report on gas was delayed. Three sources have confirmed that the EIA (the U.S. Government's Energy Statistics arm) is about to lose more...

LNG

S&P downgrades Woodside's credit rating to 'negative" after LNG investment decision

S&P Global Ratings changed the outlook of Australia's Woodside from "stable" to "negative" after the company made a final decision on investment for $17.5 billion in its Louisiana liquefied gas project. The rating agency stated that Woodside's decision to move forward with the project, without a substantial sell-down of the offtake exposure, has reduced the headroom for ratings. The agency has affirmed Woodside's 'BBB+ long-term issuer rating' and 'BBB+ long-term issuer ratings'. The Australian oil and Gas Company approved an LNG project worth billions of dollars in Louisiana earlier this week. They were confident that the U.S. government would be...

Natural Gas Utilities

Bloomberg News reports that Woodside is in talks with Kuwait Petroleum to sell its Louisiana LNG stake.

Bloomberg News reported Monday that Woodside Energy was in discussions with an overseas division of Kuwait Petroleum about selling a stake in their Louisiana liquefied gas plant. The report was based on people familiar with the matter. Kuwait Foreign Petroleum Exploration is also looking at securing LNG from the project. Other companies are interested in both LNG and equity, according to the report. Woodside Energy and Kuwait Foreign Petroleum Exploration did not respond immediately to comments. Woodside, Australia’s largest gas producer, agreed earlier this month to sell a 40 percent stake in its Louisiana Liquefied Natural Gas plant to U.S....

Crude Oil

Vance wants closer US-Indian ties but warns that a 'dark period' is coming if not

On a Tuesday visit to India, JD Vance, the Vice President of the United States, said that the United States was looking to sell more defence and energy equipment to India. He added that the ties between India and the United States will shape this century. In a speech delivered in Jaipur, a city in northwestern India, he stated that if India and the United States worked together effectively we would see a prosperous and peaceful 21st century. "But I believe that the 21st Century could be very dark for humanity if we do not work together effectively." After their...

Energy Markets

Next week, US oil executives will meet with Trump

The American Petroleum Institute, a leading industry group, announced on Wednesday that U.S. producers of oil will meet President Donald Trump next Monday. An industry source said that the topic of discussion included tariffs, trade, and exports for liquefied gas. The API, whose members include ExxonMobil, Chevron, and other oil giants, was instrumental in putting together the meeting. When asked about the meeting, API spokesperson Bethany Williams said: "We are grateful for the opportunity to discuss with President Obama and his team how American oil, natural gas and consumer support is driving economic growth, strengthening national security, and supporting consumers."...

Energy Markets

Kimmeridge wants to increase Canada oil and Gas activism in the face of trade war and underperformance

Kimmeridge Energy Management, according to a senior executive, will be more active in its efforts to improve the performance of Canadian oil and natural gas producers. The company is also looking for ways it can benefit from the current trade war between the United States and Canada. The U.S. President Donald Trump has increased tariffs against Canada's northern neighbor. However, Canadian oil and natural gas exports have received less penalties. Kimmeridge managing director Mark Viviano said that tensions could spur new thinking and increase Canadian energy exports to other countries. This is especially true for liquefied gas. Mark Viviano, managing...

Oil & Gas

Document shows that Vietnam will sign U.S. agreements as trade and energy officials meet.

According to a document from the government, Vietnam is expecting to sign pacts this week with the United States after its trade minister met U.S. energy and trade officials. This step follows weeks of conciliation messages Vietnam sent to Washington, in an attempt to avoid tariffs that the Trump administration may impose on Southeast Asian nations due its large trade deficit with the United States. The document dated March 5, from the Trade Ministry, contains the itinerary of Nguyen Hung Dien, the Minister of Commerce's visit to the United States in this week. The list also included energy companies, government...

Fossil Fuels

Expand Energy's profit beats expectations for the fourth quarter on higher production and prices

Expand Energy, a U.S. natural-gas producer, surpassed its fourth-quarter profit expectations on Wednesday after a slight rise in gas prices. The natural gas price rose during the first quarter of this year, reaching a record high. This was due to an increase in gas flow to export plants for liquefied gas. Prices were also boosted by the forecast of continued cold weather in January which increased heating demands. The Oklahoma City company that acquired Southwestern for $7.3 billion and became the largest independent U.S. natural gas producer reported a fourth-quarter production rate of 6.41 billion cubic foot equivalent per day...

Energy Markets

Coterra Energy beats quarterly profit estimates on higher production, raises dividend

Coterra Energy announced Monday that it had beaten Wall Street's fourth-quarter profit estimates and increased its dividend by 5%. The oil and gas company has benefited from a higher production of oil and natural gases liquids (NGLs). U.S. Energy Information Administration (EIA) reported that the oil production of the United States reached a new record in the last quarter, as improved drilling efficiency helped producers pump out more. Houston-based company announced a production increase of 681,500 barrels equivalent per day (boepd) in the fourth quarter, exceeding its high-end outlook of 630,000-660,000 boepd. This was driven by improved well performance and...

Europe

Fossil Fuels

In April, Russia's oil and natural gas revenues were down by 12% year-on-year.

The Russian budget revenue from oil and natural gas sales dropped by around 12% compared to April last year. The Ministry of Finance blamed the sharp fall in oil prices. The Kremlin's most important cash source has been oil and gas revenue, which accounts for between a third and a half the total federal budget revenues over the last decade. According to the Finance Ministry, revenues reached 1.09 trillion Russian roubles (13.49 billion dollars) in April, down from 1.23 in April 2024, but slightly up from March's 1.08 trillion. This was more than the 0.96 trillion roubles that. In January-April,...

Oil & Gas Refining

Shell trims its spending and increases shareholder distributions, while also aiming to sell more LNG.

Shell pledged on Tuesday to return more cash, mostly via buybacks. It also trimmed its budget for investment through 2028, and hinted at the possibility of selling or closing certain of its chemical assets. Oil and Gas Major raised shareholder distribution target from 30%-40% to 40%- 50% of cash flows from operations. The world's largest liquefied gas (LNG), trader, also stated that it aimed to increase LNG sales by 4-5% annually over the next five-year period and production by 1% per year while maintaining oil output at 1.4 million barrels a day. Shell predicts that global demand for natural gas...

Natural Gas Utilities

RPT-Ukraine Bets on US LNG as Gas Import Needs Rise

The state gas company of Ukraine said that it may import large quantities of U.S. natural gas via terminals located in Germany, Greece and Poland this year, as Kyiv continues to struggle with the effects of Russian attacks against its infrastructure. The White House is leading the talks to end more than three long years of war following Russia's invasion in Ukraine. Kyiv announced on Tuesday that it would accept a ceasefire offer, but Moscow is yet to accept one. The importation of U.S. natural gas to Ukraine could strengthen the economic relationship between Washington and Ukraine, while the presence...

Western Europe

East Asia

Coal

Japan's crude imports for FY2024 down 7.1%; second consecutive year of decline

The Ministry of Finance (MOF), on Thursday, reported that Japan's crude oil imports cleared by customs in 2024 fell 7.1% from the previous year, and the value of the imported crude oil dropped 5.7%, to 10.65 trillion Japanese yen ($74.7billion), due to the lower oil price. The preliminary data show that Japan, which is the fourth largest crude buyer in the world, imported 2,32 million barrels of crude oil per day (134,67 million kilolitres), for the period ending March 31. The MOF reported that this was the second consecutive decline in value and volume year-over-year. The volume of Japan's LNG...

LNG

Russell: China's impact on US energy trade is minimal at first.

After Beijing retaliated to President Donald Trump’s tariffs by imposing its own measures, the trade between China and the United States in crude oil and liquefied gas is now effectively dead. China, which is the largest importer of three energy commodities in the world, imposed import duties on Tuesday of 15% for U.S. coal and LNG, and 10% for crude oil and farm machinery. Beijing made its move after the Trump administration imposed a 10% additional tariff on all Chinese imports into the United States. The 10% tax was less than the 60% Trump had threatened during his last-year campaign...

Energy Markets

Japan's JERA, Toho Gas to build 2 gas-fired power plants in Chita

Japanese power generator JERA and city gas supplier Toho Gas stated on Monday they will develop the No. 7 and No. 8 gasfired power systems at JERA's Chita thermal power station in central Japan, targeting operations in 2029. The 2 new systems, each with a capability of 659.9 megawatts ( MW), will replace the decommissioned No. 1- No. 4 gas-fired systems, which had actually an integrated capacity of 225.8 MW, a JERA spokesperson said. Ownership of the new units will be split in between the 2 business, with JERA taking a 75% stake and Toho Gas 25%. Electrical energy output...

Energy Markets

Russia's crude oil and LNG shipments to Asia slip a little in 2024: Russell

Asia's imports of Russian crude oil and melted natural gas are set to log little declines this year and while coal had a bigger drop, there's little evidence that Western sanctions are working well. Russia has concerned depend on Asia, the world's most significant purchaser of energy products, to absorb freights that are no longer able to be sold to buyers in Europe and elsewhere as an outcome of sanctions put against Moscow in the wake of the February 2022 intrusion of Ukraine. China and India became significant buyers of Russian crude, coal and LNG after the invasion, taking freights...

LNG

Japan's JERA H1 earnings halves, complete year projection unchanged

Japan's leading power generator, JERA, said on Tuesday its AprilSeptember internet earnings halved, hit by a steep drop in gains from lagged fuel price modifications and its U.S. power generation organization. The utility adhered to its annual earnings price quote of 200 billion yen ($ 1.3 billion), that included the impact of the shutdown of its Taketoyo coal-fired power plant following a fire on Jan. 31. No date has been set yet for rebooting the plant. JERA, an unlisted business jointly owned by Tokyo Electric Power and Chubu Electric Power, reported internet profit of 138.9 billion yen for the six...

Energy Markets

Japan's Mitsubishi to get stake in Petronas LNG plant, Nikkei reports

Japanese corporation Mitsubishi will get a 10% stake in a gas facility operated by Malaysian state energy giant Petroliam Nasional for a 10year period, the Nikkei reported on Thursday. Mitsubishi had formerly owned a 4% interest in the job but the facility's agreement expired in 2022. Now, the business will acquire 10% of the same plant by the end of financial 2024, the Japanese newspaper reported. Mitsubishi likewise owns 10% of a various LNG plant situated in Sarawak. In financial 2025, the trading organization plans to try to extend the contract for an extra ten years, the Nikkei included. The...

Refined Products

Inpex H1 revenue falls 14.5%, unveils dividend walking, share buybacks

Japan's biggest oil and gas explorer Inpex on Thursday reported a 14.5% drop in its firsthalf net profit, but raised its yearly dividend forecast and revealed an additional share buyback strategy to improve shareholder returns. For the complete year, it stayed with its earnings forecast of 360 billion yen ($ 2.5 billion) regardless of lower than predicted output at its crucial Ichthys liquefied natural gas project in Australia. Net profit for the 6 months through June 30 was up to 212.6 billion yen from 248.5 billion a year previously due to increased expedition expenditures in Australia and higher tax payments....

Crude Oil

Product streams at risk should Trump spark tit-for-tat trade war: Russell

Much of the dispute surrounding the ramifications of a possible 2nd U.S. presidential term for Republican Donald Trump has focused on what may take place to the U.S. and international economies. Trump's plan to impose tariffs of 10% on virtually all imports into the United States, and as much as 50% on those from leading trading partner China, have actually raised the spectre of greater inflation and rates of interest, and a less competitive market. However for products, the larger danger of a Trump return to the White House is the reaction the remainder of the world is likely to...

Natural Gas

China's thermal power generation falls on year for second straight month

China's thermal power generation fell on the year for a second straight month in June as hydropower generation rose, data from the National Bureau of Data showed on Monday. Thermal electrical energy, generated mostly by coal-fired capability, fell 7.4% in June after declining by 4.3% in May. However, thermal output still increased 1.7% over the first 6 months as a whole. Hydropower volumes rose 44.5% in June and 21.4% over the first six months. The pattern could put China on track for a year-on-year decrease in coal use for 2024 as a whole, if hydropower output remains strong, said David...

Natural Gas

Russia's Putin praises Vietnam for its stance on Ukraine

Russia's President Vladimir Putin applauded Vietnam for its balanced stance on the Ukraine war and noted development on payments, energy and sell an viewpoint piece published on Wednesday in the newspaper of Vietnam's Communist Celebration. In the piece timed for Putin's state see to Vietnam, he applauded the Southeast Asian Communist-ruled nation for supporting a pragmatic way to resolve the crisis in Ukraine, in comments released in the Nhan Dan newspaper. Vietnam, which formally pursues a neutral foreign policy in its relations with major world powers, has actually abstained from condemning Russia's attack on Ukraine, a position that Western countries...

Coal

China's commodity imports are soft, even those that look strong: Russell

China's. imports of significant products were either openly weak in May,. such as the decline in crude oil, or those revealing apparent. signs of strength were deceptive and mostly driven by factors. aside from increasing usage. Arrivals of crude dipped into unfavorable area for the. first five months of the year, with computations based on. main custom-mades data launched on June 7 showing imports of 11.0. million barrels each day (bpd) in the January to May duration, down. 1.2% from 11.13 million bpd in the very same duration last year. China, the world's largest crude importer, landed 11.06. million bpd...

Refined Products

Freeport LNG sues three specialists over flaws at Texas plant

U.S. liquefied natural gas (LNG). exporter Freeport LNG submitted a lawsuit in April against three. contractors, alleging that installation defects in electrical. motors at its $14billion Texas export plant caused extended. failures and expensive repairs. The claim, submitted in a Texas district court, declares that. work done by specialists Zachry Industrial, Chiyoda. International, and CB&I, a system of McDermott. , led to significant damage to crucial equipment. Freeport's Quintana, Texas, facility has experienced approximately. a lots events up until now this year. The plant can produce more. than 15 metric tonnes per annum of LNG and take in roughly 2.1....