LNG

The Chief Executive of BP said the UK major would continue producing hydrocarbons in the form of oil and natural gas for pipelines and LNG for many decades to come and would benefit from rising oil prices, reducing investor concerns over the past two years that BP was pandering to environmental extremists who had attacked its London headquarters.

With North Sea Brent crude forecast to hit $100 a barrel in 2022, boosting LNG values for producers holding long-term contracts, the oil derivatives market has new future offerings this week, including a Houston-based oil contract and a Chinese oil future for foreigners launched in Shanghai.