(Updates with comment from CEO in third paragraph, background information throughout) *Woodside bullish on LNG demand despite TotalEnergies' market glut warning *Louisiana LNG facility is largest foreign investment in state's history *Exports to target Europe and Asia, starting in 2029 By Arathy Somasekhar and Curtis Williams HOUSTON, Sept 15 - Woodside Energy expects global LNG demand to grow 50% over the next decade, CEO Meg O’Neill said on Monday at a groundbreaking ceremony [Read more]
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Full Steam Ahead for Woodside Louisiana LNG
HOUSTON--(BUSINESS WIRE)--Woodside Energy today celebrated the rapid progress in developing the $17.5 billion Louisiana LNG Project at a groundbreaking ceremony attended by leaders from the local community and state and federal governments. Since announcing a final investment decision (FID) on the project on 29 April 2025, the construction workforce has ramped up to almost 900 personnel, with work on the first of three LNG trains now more than 22% complete. The project, based in south-west [Read more]
Bessent says US won’t hit China with tariffs over Russian oil unless Europe goes first
U.S. Treasury Secretary Scott Bessent said on Monday that the Trump administration would not impose additional tariffs on Chinese goods to halt China's purchases of Russian oil unless European countries hit China and India with steep duties of their own. Bessent told Reuters and Bloomberg in a joint interview that European countries needed to play a stronger role in cutting off Russian oil revenues and bringing its war in Ukraine to an end. "We expect the Europeans to do their share now, [Read more]
Mexico launches 5-billion-euro bond issue to partially fund Pemex bond buyback
Mexico launched on Monday a three-tranche bond issue for up to 5 billion euros ($5.88 billion) to partially finance a $9.9 billion bond buyback from state-run oil company Pemex, LSEG's fixed-income news service IFR reported. The issue consists of four-year bonds for up to 2.25 billion euros, eight-year bonds for 1.5 billion euros, and 12-year bonds for 1.25 billion euros. The proceeds will be used for the general purposes of the Mexican government, as well as to "make a capital [Read more]
HSBC sees downside risk to 2026 Brent crude oil price forecast
HSBC expects a big oil surplus of 1.7 million barrels per day (mbd) from the fourth quarter of 2025, and a surplus of 2.4 mbd in 2026, exacerbated by the return of OPEC+ barrels over the next 12 months, it said in a note on Monday. At its meeting this month, OPEC+ opted to further increase oil production by 137,000 bpd in October, starting to unwind the 1.65 million bpd in cuts ahead of schedule. HSBC's latest oil market supply and demand model envisions OPEC+ gradually unwinding 1.65 [Read more]
US natgas prices at Waha hub in Texas fall into negative territory
U.S. natural gas prices for Monday in the Permian shale basin in West Texas turned negative as autumn pipeline maintenance and other constraints trap gas in the nation's biggest oil-producing basin. Financial company LSEG said that average gas output in the Lower 48 states has dropped to 107.6 billion cubic feet per day (bcfd) so far in September, down from a record monthly high of 108.3 bcfd in August. Traders have noted the pipeline maintenance trapped some gas in the Permian basin, [Read more]
MEG urges investors to reject Strathcona’s sweetened bid, backs Cenovus deal
Canadian oil sands producer MEG Energy on Monday urged shareholders to reject the sweetened takeover bid from Strathcona Resources, and reaffirmed support for sale to Cenovus Energy. "The revised Strathcona offer remains fundamentally unattractive," said James McFarland, chair of MEG's board. "MEG shareholders would be exposed to inferior assets, an overvalued Strathcona share price, significant overhang risk and governance risk." The takeover saga began in May when Strathcona launched a [Read more]
MEG Energy Recommends that Shareholders Reject the Revised Strathcona Offer; Reaffirms Support for the Cenovus Transaction
MEG's Board of Directors unanimously recommends that MEG Shareholders vote FOR the Cenovus Transaction Revised Strathcona Offer exposes MEG Shareholders to inferior assets, an unproven track record, an overvalued Strathcona share price, significant overhang risk, and governance risk The Special Distribution described in the Revised Strathcona Offer results in a weaker balance sheet and increased financial risk for the combined company compared to the Initial Strathcona Offer Cenovus [Read more]
BP’s Brazil oil discovery signals receding fears of stranded assets: Bousso
BP's recent discovery of a giant oilfield offshore Brazil has reignited investor enthusiasm, echoing the aggressive exploration era two decades ago when companies were thirsty for resources amid fears the world was running out of oil. The announcement of the Bumerangue discovery, described by CEO Murray Auchincloss as BP's most significant in 25 years, sparked an 8% surge in the company’s London-listed shares in August, outperforming sector peers. The discovery signals that concerns that [Read more]
China accuses US of ‘bullying’ in push for tariffs over Russian oil purchases
China accused the United States of "unilateral bullying" in calling on allies to impose tariffs on China over its purchase of Russian oil, fueling tensions as Chinese and U.S officials meet in Spain to try to resolve trade disputes. China opposes Washington's request that the Group of Seven and NATO countries impose secondary tariffs on Chinese imports over its purchase of Russian oil, China's commerce ministry said on Monday, calling it "a classic example of unilateral bullying and economic [Read more]
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