The U.S. will become a consistent net petroleum exporter late next year and will ship out more crude oil and liquid fuels than it imports by September 2020 and the net export total will surpass 1 million barrels a day by December 2020. That prediction released by the EIA earlier this week.
New Fortress Energy, an integrated gas-to-power LNG company formed by Fortress Investment Group, launched an IPO with plans to raise $400 million. In the proposed IPO, New Fortress plans to offer 22.2 million shares priced between $17 and $19 per share.
Texas State Senator Brian Birdwell, who is the Republican chairman of the Senate Committee on Natural Resources & Economic Development advised the Texas Pipeline Association against complacency simply because the Trump administration is oil-and-gas friendly. In particular, Birdwell wants to preserve the Texas emissions reduction plan run by the TCEQ.
Finally, FERC opened investigations and ordered hearings into three interstate natural gas companies to determine if the companies may be over-recovering their costs of service, resulting in unjust and unreasonable rates. FERC also found that nine gas companies have complied with the filing requirements of Order No. 849 and terminated their FERC Form 501-G proceedings without any further action.
The eventual decision will have repercussions on the TAG sale, but also on Petrobras’ upcoming divestments, which are likely to be affected given their similarities to the TAG sale.
The U.S. Interior Department is determined to sell oil leases for the first time this year in the ecologically sensitive but presumably petroleum-rich coastal plain of Alaska's Arctic National Wildlife Refuge, a Trump administration official said on Thursday.
BP to sell U.S. onshore assets to help fund BHP asset purchase. Plus, the Canadian government is giving its struggling oil sector a boost.