Tokyo Gas is in discussions with Venture Global to purchase 1 million metric tonnes per annum of liquefied natural gas from the company's CP2 export facility, three people with knowledge of the talks told Reuters on Monday. Venture Global is the second largest U.S. LNG exporter and since 2023 has been the main source of the country's growing LNG export capacity, helping the U.S. remain the world's largest exporter of the superchilled gas. Tokyo Gas is negotiating the purchase of LNG from [Read more]
US natural gas slides to 10-month low as summer demand fades
U.S. natural gas futures fell to a ten-month low on Monday, pressured by cooler weather forecasts and fading summer demand, easing concerns over tight storage levels ahead of winter. Front-month gas futures for September delivery on the New York Mercantile Exchange were flat at $2.70 per million British thermal units at 10:09 a.m. EDT (1410 GMT). The contract hit its lowest since November 4, 2024. "With summer waning, it is becoming clear that the expectation of strong power sector demand [Read more]
Russian oil refineries, terminals burn as Ukraine hits Putin’s war economy
Ukraine has stepped up drone attacks on Russian oil refineries and exporting infrastructure, striking the most important sector of President Vladimir Putin's economy to show it can fight back as the United States seeks to broker a peace deal. The attacks disrupted Moscow's oil processing and exports, created gasoline shortages in some parts of Russia and came in response to Moscow's advances on the front lines and its pounding of Ukraine’s gas and power facilities. Kyiv's move is an [Read more]
Brokerages cheer Cenovus’ C$7.9 billion deal for MEG Energy
** Brokerages welcome Cenovus Energy's C$7.9 billion ($5.72 billion) cash-and-stock deal to acquire peer MEG Energy ** Gerdes Energy Research raises PT on CVE by C$2 to C$32, a premium of 51.2% to stock's closing price on Friday ** The deal will give "an approximate 6% improvement in oil sands capital intensity," Gerdes said ** Brokerage Desjardins raises PT to C$29 from $C27.5, a ~37% upside to last close ** "While the transaction would be modestly dilutive, reflecting CVE’s [Read more]
Crescent Energy to acquire Vital Energy in $3.1 billion shale deal
U.S. shale producer Crescent Energy said on Monday it would acquire smaller peer Vital Energy in an all-stock deal valued at $3.1 billion, including debt. Vital shareholders will receive 1.9062 shares of Crescent common stock for each share held, representing a value of $18.95 per share and a premium of 20%, based on the stocks' last close. Shares of Vital rose 11%, while those of Crescent fell nearly 3% before the bell. Last week, Reuters reported that Crescent was in advanced talks to [Read more]
Trump administration halts Orsted’s Rhode Island wind project, shares sink 17%
Orsted said on Monday it would continue with a plan to raise capital after the Trump administration ordered the offshore wind farm developer to stop construction on a near-completed project off Rhode Island, sending its shares down 17%. The company, 50.1% owned by the Danish state, said earlier this month it would seek to shore up its finances through a $9.4 billion emergency rights issue. "The planned rights issue had been sized to provide the required strengthening of Orsted's capital [Read more]
Oil prices climb after Ukraine attacks hit Russian energy sites
Oil prices edged higher on Monday after Ukraine stepped up attacks on Russia, fanning concerns Russian oil supply could be disrupted, while expectations of a cut in U.S. interest rates buoyed the outlook for global growth and fuel demand. Brent crude futures rose 3 cents, or 0.04%, to $67.76 at 0342 GMT, and West Texas Intermediate (WTI) crude futures gained 7 cents, or 0.11%, to $63.73. Ukraine launched a drone attack on Russia on Sunday, which forced a sharp fall in the capacity of a [Read more]
US VP Vance says Russia has made significant concessions toward Ukraine peace deal
U.S. Vice President JD Vance said Russia has made "significant concessions" toward a negotiated settlement in its war with Ukraine and was confident progress was being made despite the lack of clear signs the conflict is nearing an end. Speaking on NBC's "Meet the Press with Kristen Welker", Vance said Russian President Vladimir Putin has made several concessions, including that Ukraine will receive security guarantees protecting against future Russian aggression. "I think the Russians [Read more]
Putin sees ‘light at end of the tunnel’ in Russia-US ties, cooperation in Arctic and Alaska
President Vladimir Putin said on Friday that there was "light at the end of the tunnel" in Russia-U.S. relations and that the two countries were discussing joint projects in the Arctic and Alaska. The Russian president, answering questions during a visit to a nuclear research centre, said he was sure that U.S. President Donald Trump's leadership qualities would help in restoring relations from recent lows. "With the arrival of President Trump, I think that a light at the end of the tunnel [Read more]
US Dept of Energy grants Lake Charles LNG more time to start exports
The U.S. Department of Energy said on Friday it had granted Energy Transfer additional time to start exports from the Lake Charles LNG facility under its non-Free Trade Agreement export permit. "On the heels of President Trump’s historic trade negotiations, demand for secure, reliable American LNG is surging," Energy Secretary Chris Wright said in a press release announcing the extension. Once fully constructed, the Lake Charles LNG project will be capable of exporting up to 2.33 billion [Read more]
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