Asia's imports of liquefied natural gas (LNG) are expected to dip slightly in June from May, with strength in India holding up the top-buying region's appetite for the super-chilled fuel. Asia is on track to import 23.18 million metric tons of LNG in June, down a touch from May's 23.55 million, but up 8.9% from the 21.28 million from June last year, according to data compiled by commodity analysts Kpler. The largely steady outcome in June from the prior month reflects the little change in [Read more]
Chevron Australia resumes full LNG and gas production rates at Wheatstone
Chevron has resumed full liquefied natural gas (LNG) and domestic gas production rates at its Wheatstone gas facility in Australia, a spokesperson said. Full production was resumed "with the safe re-start of the facility's two LNG trains and domestic gas plant," the spokesperson said. On June 10, Chevron had suspended production at the facility to complete repairs to the platform's fuel gas system. It commenced repairs several days later, and on Friday said the process to restart had [Read more]
Alberta’s left-leaning opposition picks former Calgary mayor as party leader
Alberta's opposition New Democratic Party (NDP) has chosen former Calgary mayor Naheed Nenshi as its new leader, party officials announced on Saturday. He will lead the NDP against Premier Danielle Smith's conservative government in Canada's main oil-producing province. Nenshi became the first Muslim mayor of a major North American city when he was elected in 2010 and governed Canada's corporate oil capital until he stepped down in 2021. During that time he was widely praised for his [Read more]
U.S. jet fuel output rises to pre-COVID levels as demand soars
U.S. refiners pumped out jet fuel last week at the fastest pace since the pandemic, government data showed, as they look to keep up with forecasts of record air travel this summer. U.S. refiners' net production of jet fuel hit about 1.9 million barrels per day (bpd) last week, 8% higher than the same time last year and the highest weekly total since January 2020, data from the U.S. Energy Information Administration showed on Thursday. Government agencies and travel groups are preparing for [Read more]
US drillers cut oil and gas rigs to Jan 2022 low for third week – Baker Hughes
U.S. energy firms this week cut the number of oil and natural gas rigs operating to the lowest since January 2022 for a third 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, fell by two to 588 in the week to June 21. Baker Hughes said that puts the total rig count down 94, or 14% below this time last year. Baker Hughes said oil rigs fell three to 485 this week, their lowest [Read more]
U.S. manufacturing output has flat-lined, dampening diesel use: Kemp
U.S. manufacturing production has barely increased since before the pandemic, which explains why diesel consumption remains anemic and has not rebounded in line with expectations at the start of the year. Production increased by a faster-than-expected 0.9% in May after seasonal adjustments, but that followed back-to-back declines of 0.4% in April and 0.1% in March, according to estimates compiled by the Federal Reserve. Output was essentially unchanged compared with a year ago and there [Read more]
US natgas flows fall to 11-month low at Cheniere Sabine LNG export plant
The amount of natural gas flowing to U.S. liquefied natural gas firm Cheniere Energy's Sabine Pass export plant in Louisiana was on track to drop to an 11-month low on Friday, according to data from financial firm LSEG. Reductions at Sabine and other U.S. LNG export plants have often had a major impact on global gas prices. A decline in the amount of gas flowing to the seven U.S. LNG export plants helped cut U.S. gas futures by around 6% so far this week. Gas flows to the 4.5-billion [Read more]
Oil exploration boom in Namibia
Namibia has become an oil exploration hotspot after several discoveries in recent years along its coast. It has not yet produced any oil or gas, but oil majors such as TotalEnergies and Shell have made discoveries estimated at 2.6 billion barrels, with production in the southern African country expected from about 2030. There have been discoveries in the Orange Basin and there are other prospective areas, including Luderitz, Kavango and Walvis basins. Below are details on the latest [Read more]
US oil refiners’ weekly capacity seen down 56,000 bpd, IIR says
U.S. oil refiners are expected to have about 153,000 barrels per day (bpd) of capacity offline in the week ending June 21, decreasing available refining capacity by 56,000 bpd, research company IIR Energy said on Friday. Offline capacity is expected to fall to 85,000 bpd in the week ending June 28 and to 79,000 bpd in the subsequent week, IIR added. The following are IIR weekly figures for offline capacity (in thousands of bpd): Week Ended Friday June 21 June 19 June [Read more]
China’s Wison New Energies to quit Russian projects in blow to Arctic LNG 2
Chinese engineering firm Wison New Energies has decided to discontinue all of its ongoing Russian projects, and will immediately and indefinitely stop taking any new Russian business, the company said in a LinkedIn post. The move will impact the sanctioned Arctic LNG 2 project by Russia's Novatek, which had said last year it planned to build a gas turbine power station for the liquefied natural gas plant using equipment from Wison and Harbin Guanghan Gas Turbine Co. Ltd. "We appreciate the [Read more]
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