For years, China was viewed by liquefied natural gas (LNG) producers as the key driver of future demand growth, helping to justify billions of dollars in export infrastructure investment from the U.S. Gulf Coast to Qatar. But China's appetite for the super-chilled fuel is flagging, even as producers prepare a wave of new supply in coming years, potentially undermining the viability of some future projects that depend on long-term import needs from Asia and Europe. The Iran war has [Read more]
Argentina’s growth paradox: Shale riches grow as jobs disappear elsewhere
Ramiro Ramirez, a trained mechanic, found work in just a month at Argentina's Vaca Muerta, home of one of the world's largest shale oil and gas reserves, where he earns 10 times his previous salary as a cook. His new life operating a gas compressor is not easy. Ramirez, 25, leaves his city in Neuquen province at 5 a.m. for a daily two-hour ride to oil fields by the small, dusty town of Añelo, which has swelled with newcomers seeking work since the formation's production rose sharply in recent [Read more]
Oil companies signing agreements in Venezuela, but delays persist
Venezuelan officials and oil executives have moved ahead with the migration of dozens of joint ventures to new terms approved in a sweeping government reform, but delays remain in finalizing the agreements needed to greenlight the projects, four sources involved in the preparations said. Venezuela's oil ministry had set July 28 as the deadline to complete the migration of all existing projects, but the numerous permits and agreements linked to core contracts have created obstacles. Among the [Read more]
Drone strike in Egypt sparks security concerns about Suez oil exports
A drone strike that damaged two gas tankers in Egyptian waters has renewed energy security concerns about the nearby Suez Canal and a related pipeline, a vital export route for Saudi Arabian oil since the beginning of the Iran war. Even as Iran and its Houthi allies have fired on tankers transiting the Strait of Hormuz and Bab el-Mandeb, Egypt's Suez Canal and Sumed pipeline continued to offer safe, northbound export routes for Saudi Red Sea energy cargoes. While no party has claimed [Read more]
Mideast oil faces bleak new order as Iran’s grip on Hormuz tightens: Bousso
Neither full-scale war nor peace is taking hold in the Middle East, trapping energy markets in an uncomfortable limbo that won’t be easy to escape. Worries about the reliability of Gulf supplies are becoming increasingly entrenched among buyers, creating an alarming new norm for the region’s producers. More than five months after the United States and Israel launched military strikes against Iran, the region's energy sector appears weaker and more vulnerable than at any point since the war [Read more]
China’s crude calculus in Iran war
Explosions tore through a natural gas port on Egypt's Mediterranean coast on Wednesday, with maritime security firm Ambrey reporting a U.S.-owned floating storage tanker there had been hit by a drone. The strike on Damietta, for which there was no claim of responsibility, came hours after Washington and Saudi Arabia hit Iran-backed paramilitary groups in Iraq, and after Iran fired ballistic missiles at U.S. forces overnight. President Trump, whose administration had only days earlier halted [Read more]
QatarEnergy buys 33 US LNG cargoes to offset Hormuz disruption, sources say
QatarEnergy (QE) has bought 33 spot LNG cargoes this year from the U.S. for delivery to South Korea, Taiwan, Bangladesh, India and Japan, four trade and industry sources said, as it tried to reduce disruption to key customers after Qatari gas exports through the Strait of Hormuz were halted by the Iran war. QE declared force majeure on its liquefied natural gas shipments after Iran closed the waterway to shipping, bottling up 20% of global oil and gas supplies from major producers that export [Read more]
Shell targets year-end decision on LNG Canada Phase 2
Shell is targeting a final investment decision on LNG Canada Phase 2 by the end of this year, its CEO said on Thursday. Shell is pursuing an expansion of LNG Canada, as it seeks to grow its LNG portfolio and capitalize on rising global demand for the fuel. The first phase of the project, which began operations in June 2025, has a capacity of 14 million metric tons per year, and its proposed expansion would double that. (Reporting by Stephanie Kelly and Shadia Nasralla; Editing by Susan Fenton) [Read more]
TC Energy tops quarterly profit estimates, approves C$700 million in pipeline expansion projects
TC Energy on Thursday beat second-quarter profit estimates and approved pipeline expansion projects worth about C$700 million ($498.36 million) across North America, including two U.S. projects aimed at meeting the rising demand from power generation. Surging electricity consumption, particularly from AI-driven data centres, has been boosting demand for natural gas-fired power plants, prompting pipeline operators such as TC Energy to invest in capacity expansions. The Canadian pipeline [Read more]
Saudi Arabia seeks international coalition to protect Red Sea shipping from Houthis, sources say
Saudi Arabia is seeking to build an international coalition to protect shipping in the Red Sea from Houthi attacks, two people familiar with the deliberations said on Wednesday. The composition of the coalition has not yet been finalised and is being discussed with dozens of countries, the sources said. The Saudi Center for International Communication did not immediately respond to a request for comment. The Iran-aligned Houthis said on July 20 they would impose a naval blockade on [Read more]
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