The Latest
Liquefied Natural Gas (LNG)
US LNG Exports Hit Record Highs in First-half 2021
U.S. LNG exports surged as international natural gas and LNG spot prices increased in Asia and Europe due to cold weather, according to IEA.
Markets
Texas Power Grid Sees Record-breaking Demand during Heatwave
Projected peaks in power usage over the next week would be the highest so far in 2021 and, if correct, next week’s forecast would top the Texas grid’s all-time high of 74,820 MW in August 2019.
Crude Oil
What’s Affecting Oil Prices This Week? (July 26, 2021)
Back on trend? Stratas Advisors is projecting that demand will continue to outstrip supply throughout the rest of the year in its latest oil price forecast.
Business
Exxon Mobil, SABIC Announce Mechanical Completion for Gulf Coast Growth Ventures Derivatives
Three units will produce fundamental chemicals used in medical, automotive and packaging products.
Liquefied Natural Gas (LNG)
US Natgas Futures Hit Fresh 31-Month High on Hot Forecasts
U.S. natural gas futures rose to a fresh 31-month high on July 23 on forecasts for hotter weather and higher air conditioning demand over the next two weeks than previously expected.
Natural Gas
Op-ed: US Natural Gas Prices at Multiyear Highs Will Protect Stocks
In the short term, higher gas prices will encourage power generators to run gas-fired turbines for fewer hours over the next few months, running coal-fired units instead, to reduce gas combustion.
Crude Oil
US Weighs Crackdown on China’s Import of Iranian Oil
Chinese refiners are the biggest importers of Iranian oil. That U.S. officials are hinting at a possible crackdown may be a veiled threat that Washington has ways to exact a price from Tehran, says analyst.
Public Capital
NextEra Energy’s Profit Energized by Renewable Demand Surge
NextEra Energy has recently seen its investor base rise, as countries and corporations move further away from fossil fuels, and last year had briefly pipped Exxon Mobil Corp. as the largest U.S. energy firm by market value.
Field Development
Shell Pushes LNG Strategy Forward with Barracuda First Gas
Barracuda is Shell’s first greenfield project in Trinidad and Tobago and one of its largest in the country since its BG Group acquisition.
Crude Oil
US Crude Oil Stockpiles Rise for First Time Since May
The crude oil build in the U.S. was “obviously” a surprise driven by a surge in imports and a plunge in exports, says analyst John Kilduff.