In this issue

 

Golar Power’s 1.5 GW Sergipe power project in Brazil has received Commercial Operation Date (COD) acceptance which triggers the start of earnings under a 25-year Power Purchase Agreement (PPA) and…
The public regulator in Massachusetts investigates whether the Boston Everett LNG import terminal might have to close, given that the U.S. northeastern state wants to phase out all fossil power…
Free ReadThe California Energy Commission has withdrawn the license for the Palmdale Energy Project, just north of Los Angeles, after the developer Palmdale Energy signaled it was unable to secure a…
Thursday, 02 July 2020
May - June exports at 5.81mmt on 30th June Significant month-on-month drop of 1.41mmt (-39%) in June Total shipments down marginally over same two-month period last year Avg. US capacity…
As markets reel from the coronavirus crisis, prices available to oil and associated gas producers have fallen to single digits in Western Canada and turned negative in parts of North…
Free ReadThough China’s economy and gas demand is picking up, the coronavirus pandemic chocked energy consumption elsewhere. Delivered gas prices into Northeast Asia today fell below $2.40/MMBtu, hence Wood Mackenzie warns…
Debt financiers of U.S. fracking firms are preparing to directly manage distressed energy assets to avoid debt write-offs in the event of bankruptcies. Bank of America, Citigroup, JP Morgan Chase…
OPEC producers and Russia, supported by the U.S. and Mexico, have agreed to cut output by about 10%, or 9.7 million barrels per day, after demand slumped due to coronavirus…
Plummeting oil prices impact U.S. fracking activities. With Brent crude oil prices seen average $43 a barrel in 2020, down from $64/bbl last year, the Government expects shale oil and…
Free ReadAs China returns to work and energy demand recovers, four U.S. LNG cargoes are en route to Chinese import terminals. Two cargoes are seen heading for Tianjin and analysts suspect…
Four pipelines – currently in planning or under construction – will significantly step up gas deliverability into New England, in the northeastern United States. Once operational, these interconnectors will gradually…
Tellurian Inc., the developer of the Driftwood LNG project near Lake Chares, has raised some additional institutional investor funds to give it more time to secure offtake deals, like the…
Free ReadUK major BP has reiterated its commitment to sell its Alaska business to Hilcorp Energy of the US for the original price of $5.6 billion despite the industry downturn. The…
The Freeport LNG export plant on Quintana Island in Texas has asked regulators to place its third liquefaction Train into service by April 30 as the US Gulf Coast export…

News Nudges

Chevron decarbonises LNG fleet

Chevron has signed an agreement with Sempcorp Marine Repairs & Upgrades to help reduce the carbon-intensity of its LNG fleet operations. The tankers will be retrofitted with new technologies such as a reliquefication system, hull air lubrication and new gas compressors. These measures expected to reduce cargo boil-off, lower fuel consumption and increase volumes of cargo delivered.


Shell’s profits double

Global energy major Shell said its adjusted earnings in the final three months of 2022 had more than doubled to $39.9 billion on the back of soaring oil and gas prices in the wake of Russia’s invasion of Ukraine. Shell posted its record earnings just days after US-based Exxon Mobil announced annual profits of $55.7 billion.