Global manufacturing company INEOS inked a 20-year contract to source 1.4 mtpa of LNG from Phase 1 of Sempra Infrastructure’s Port Arthur LNG facility under development in Texas and an HOA for an additional 0.2 mtpa from Phase 2.
ConocoPhillips and QatarEnergy signed two agreements to ship Qatari-produced LNG to Germany starting in 2026, helping to fill the energy supply gap created in that European country by reduced gas flows from sanctioned Russia.
Despite several developments on the horizon, Stratas Advisors continues to hold to their view that the price of Brent crude will average around $90 during the fourth quarter of this year. Here’s why.
London-based BP agreed to market Guyana’s share produced from the Liza Destiny and Liza Unity platforms at no charge per barrel, according to a ministry statement on Nov. 24. It replaces a Saudi Aramco trading unit, which previously held the contract.
Prices plunged despite a decision by China, the world's biggest crude importer, to make sweeping changes to its anti-COVID regime.
Tightness in supply, staffing constraints and high oil prices all contribute to Esgian’s projected 13% growth in offshore rig demand for 2023.
Colder weather forecasts leading to an increased demand for heat prompted natural gas futures in the U.S. to rise.
The Papua LNG project is jointly owned by Exxon Mobil Corp., Santos Ltd. and Kumul Petroleum and produces 5.4 million tonnes of LNG per year.
Company sources said that Russian oil output could fall by 500,000 to 1 MMbbl/d in 2023 after the EU ban.
Oil cartel will take its time to evaluate impact of the EU’s ban on seaborne imports and the G7’s $60/bbl price cap for Russian crude.
Russian oil caps, OPEC+ inertia and new data challenges hopes that the Fed might slow the pace and intensity of its rate hikes
So far, Russia's ESPO oil blend was selling for around $79 a barrel in Asian markets on Dec. 5, almost a third higher than the new price caps.
Stratas Advisors considers the Brent crude outlook following OPEC+'s decision to reduce crude supply by 2 MMbbl/d, along with the $60 price cap on Russian oil implemented by G7 countries, the European Union and Australia.