Daily News

In light of the prevailing uncertainty in global energy demand, there is a heightened focus on cost reduction across all functions in the oil and gas industry. 

In its August, 2021 Short-Term Energy Outlook (STEO), the EIA forecast that US natural gas exports will exceed natural gas imports by an average of 11.0 bill cubic feet per day this year,  almost 50% more than the 2020 average of 7.5 bill cubic feet per day. 

The company also revealed record production of 47.3 mmboe and record sales volumes of 53.8 mmboe and free cash flow of $572 mill.

Net income was $12.7 mill and earnings per share were $0.24 for 2Q21, compared to net income of $47.2 mill and earnings per share of $0.88 for the first quarter.

Sydney (NSW) listed BHP said today that a merger with Woodside was one of a number of options being considered as part of a strategic review of its petroleum business, which includes stakes in large LNG developments. 

This price rise was despite a rise in coronavirus cases in China, the world’s second-largest LNG importer, which capped price gains.

Group revenue for 2Q21 of RM2,353.8 mill was 7.7% higher than the corresponding 2020 quarter’s revenue of RM2,186.3 mill, aided by higher revenue from the Offshore Business and the Marine Heavy Engineering segments.

Bids are thought due this month, according to local sources talking with newswires.

New Fortress Energy (NFE) is to supply natural gas to the Unigel Agro-BA and Unigel Agro-SE fertiliser plants

The Western Australian Minister for Environment, Amber-Jade Sanderson, awarded the approval following assessment by the Western Australian Environmental Protection Authority, on 11th August, 2021, subject to certain conditions.

Chesapeake will add Vine Energy, a company focused on the development of natural gas properties in the over-pressured stacked Haynesville and Mid-Bossier shale plays in Northwest Louisiana to its asset portfolio. 

The company explained that COVID-19 had disrupted survey work and adjustments may be needed, due to climate change to the $20 bill project.

In the EIA’s August 2021 Short-Term Energy Outlook (STEO), it was stated that this total is 159 bill cubic feet below the previous five-year average (2016–2020). 

EnergyQuest’s latest report - ’East Coast Gas Outlook to 2040, Balanced on the Edge’ - revealed a widening long-term divide between gas supply and prices in Queensland/Northern Territory (NT) and the southern states – with the industry balanced on the edge of not meeting demand in just a few years.

Gasum reported that Group revenue totalled €519.1 mill, an increase on the €302.3 mill recorded in 1H20.

RINA is to support initiatives to increase the availability of LNG in the medium term with small scale bunkering and depots to expand the use of this fuel throughout the Mediterranean, Black and Caspian Seas. 

Golar LNG’s second quarter net income was $471.4 mill, a figure boosted by the proceeds of the disposal of Hygo Energy Transition Limited and Golar LNG Partners LP to New Fortress Energy Inc (NFE). 

Bureau Veritas is to undertake independent verification services at CSL’s UK onshore and offshore gas facilities, the Rough storage facility. 

Cheniere Energy’s LCA study was co-authored by individuals from the University of Texas at Austin, London’s Queen Mary University, Duke University, KeyLogic Systems and Cheniere. 

Asia witnessed an LNG spot price hike last week. This was supported by strong regional demand and surging European gas hub prices, with tight fundamentals.

The US Energy Information Administration (EIA) reported that 21 LNG vessels sailed from US ports last week, compared to 19 the week before.

Kosmos Energy reported a loss of $57 mill, or $0.14 per diluted share. When adjusted for certain items, the company generated an adjusted net loss of $10 mill, or $0.03 per diluted share for the period.