U.S. liquefied natural gas plants could take on as much as 40 billion cubic feet of natural gas per day in coming years, Cheniere Energy Chief Commercial Officer Anatol Feygin said on Friday. U.S. plants are currently using a record 18 bcfd of natural gas to produce LNG, according to data from financial firm LSEG. The increased demand for liquefaction could lead to natural gas prices, which have risen around 62% over the past year, becoming even more expensive toward the end of the decade, [Read more]
US LNG plants could use 40 bcf of natural gas per day in coming years says Cheniere executive
U.S. liquefied natural gas plants could use 40 billion cubic feet of natural gas per day in the coming years, Cheniere Energy's chief commercial officer, Anatol Feygin, said on Friday at a seminar held by the Federal Reserve Bank of Kansas City. (Reporting by Curtis Williams in Houston; Editing by Leslie Adler) [Read more]
Barclays says Brent could top $85/bbl if Russian exports drop sharply
Brent crude could rise above $85 per barrel if Russian exports fall sharply, Barclays said, well above the bank’s previous forecast of $66 per barrel for 2026. In late October, U.S. President Donald Trump imposed Ukraine-related sanctions on Russia's largest oil companies, Lukoil and Rosneft, in Washington's toughest measures against Russian business during the war with Ukraine. "Geopolitical tensions remain elevated while oil flows continue largely unabated," Barclays said in a note on [Read more]
US drillers add oil and gas rigs for second week in a row, says Baker Hughes
U.S. energy firms this week added oil and natural gas rigs for a second week in a row, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by 1 to 549 in the week to November 14, its highest since October 24. Despite this week's rig increase, Baker Hughes said the total count was still down 35 rigs, or 6% below this time last year. Baker Hughes said oil rigs rose by three to 417 this week, [Read more]
Activist investor Kimmeridge takes stake in US energy producer Devon
Activist investment firm Kimmeridge Energy Management has taken a stake in U.S. shale producer Devon Energy, according to a stock market filing released on Friday. THE DETAILS Kimmeridge owned 5.66 million shares in Devon as of the end of September, the filing said. That would equate to an approximately 0.9% stake in Devon, according to Reuters calculations, and make it Devon's 14th-largest shareholder, according to data provider LSEG. Devon shares fell 1% in the opening 30 minutes of [Read more]
Saudi Aramco to sign US LNG agreements during crown prince’s visit to Washington, sources say
Saudi Aramco is set to sign two U.S. liquefied natural gas supply deals with Woodside Energy and Commonwealth LNG when Saudi Arabia's Crown Prince Mohammed bin Salman visits Washington next week, sources familiar with the matter told Reuters. The world's largest oil exporter, Saudi Aramco, wants to become a major liquefied natural gas player, especially in the United States, where LNG capacity is set to almost double over the next four years. It has already signed deals with other U.S. players, [Read more]
Oil rises 2% after Ukrainian attack damages Russian oil depot
Oil prices jumped about 2% on Friday on supply fears after a Ukrainian drone attack hit an oil depot in the Russian Black Sea port of Novorossiysk, a major export hub. Brent crude futures rose $1.24, or 1.97%, to $64.25 a barrel by 0315 GMT, while U.S. West Texas Intermediate crude rose $1.25, or 2.13%, to $59.94 a barrel. The attack early on Friday damaged a ship in port, apartment buildings and an oil depot in the Russian Black Sea port of Novorossiysk, injuring three crew members of the [Read more]
Discount on Western Canada Select widens
The discount on Western Canada Select to North American benchmark West Texas Intermediate futures widened on Thursday. WCS for December delivery in Hardisty, Alberta, settled at $11.70 a barrel under the U.S. benchmark WTI, according to brokerage CalRock, compared to Wednesday's close of $11.50. * The differential has been trading in a tight band, ranging between $10.25 and $11.70 under WTI, since September 1. * Analysts say the WCS discount has been well-supported in recent months, in [Read more]
Trump administration revokes Biden-era limits on Alaska oil drilling
The Trump administration on Thursday finalized its rollback of Biden-era limits on oil and gas drilling in an Alaska area that is the nation's largest tract of undisturbed public land. The move is consistent with President Donald Trump's goal to reduce restrictions on domestic oil and gas development, particularly in resource-rich Alaska. Biden's 2024 rule had prohibited oil and gas leasing on 10.6 million acres (4.3 million hectares) of the National Petroleum Reserve in Alaska, while [Read more]
Goldman Sachs sees global oil demand growing through 2040
Goldman Sachs expects global oil demand to grow to 113 million barrels per day in 2040 from 103.5 mbpd in 2024, driven by rising energy needs and ongoing challenges in low-carbon technology and infrastructure, the Wall Street bank said on Thursday. "We expect solid annual average demand growth of 0.9 mbpd in 2025-2030, before slowing to 0.1 mbpd by 2040," it said in a note. Key factors Goldman cited for its above-consensus outlook include limited alternatives for jet fuel and [Read more]
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