LNG

Shell has reported adjusted earnings of $10.8 billion for Q2-2026, more than double the $3.6 billion posted a year earlier, as surging LNG and oil trading profits offset a sharp production decline caused by conflict-related disruptions in Qatar.

QatarEnergies has notified Edison that it is unable to deliver three LNG cargoes, extending force majeure until the end of September, the Italian utility stated. A total of 24 cargoes, representing a combined 3 bcm of natural gas, are now subject to force majeure over the April-September delivery window, with Edison saying it has already replaced most of the lost volumes.

Qatar Gas Transport Company, better known as Nakilat, has kept first-half net profit broadly flat at 857 million Qatari Riyals, even as its Marine Services segment was “significantly affected” by the military conflict in the region.

BP posted strong first quarter 2026 results, with higher Gulf of Mexico output offsetting Middle East disruptions and a North Sea divestment. Adjusted net profit hit $3.2 billion, more than double the nearly $1.4 billion a year earlier, the London-based company announced today.

Russia's largest LNG producer Novatek has reported a sharp 63% drop in net profit, citing lower commodity prices, Western sanctions, and operational disruptions at its Ust-Luga terminal following a Ukrainian drone attack. 2025 net profits fell to 183 billion roubles ($2.37 billion), down from 493 billion roubles in the previous year.

Oil-indexed LNG exporters brace for a squeeze in profit margins as ICE Brent crude oil prices fell to $65 per barrel on October 5, down from $70/bbl at last week’s high, after OPEC announced a production increase on Sunday. Rystad Energy reckons ICE Brent will unlikely to hold above $60-65/bbl in 2026 unless OPEC+ adjusts its sanctions on Russia and Iran severely limits exports.

Flex LNG suffered a net loss of $3.9 mill for the second quarter of this year, compared to a loss of $2.9 mill in 2Q18 and loss per share of $0.07, compared to a net loss of $3.4 mill and loss per share of $0.06 for 1Q19.

GasLog Ltd has reported a loss of $10.5 mill on revenues of $154.3 mill for the second quarter of this year.

Financing models of the U.S. shale oil & gas industry has for long been characterised by negative free cash flow as expectations of rising production and cost improvements led to continuous overspending in the sector. Over the last few month, however, IEA analysts have notice a “notable improvement in financial condition,” though the overall health of the industry remains fragile.