India's top gas importer, Petronet LNG, renewed a deal to give the parties more time to finalize an investment in Tellurian's Driftwood export project in Louisiana.
The July figures imply Iraq is still some way from fulfilling its OPEC+ pledges and is exporting far more than a July loading program indicated.
Despite better news, the market is still severely oversupplied.
“M&A has started to pick up. You saw a deal announced with Chevron buying Noble. We would expect to see more of those,” James West, senior managing director of Evercore ISI, says.
Mike Wirth, the CEO of U.S. oil giant Chevron Corp., on July 20 said the uncertainty of the COVID-19 pandemic has it planning for "choppy" oil prices and economic activity globally.
Total's massive LNG project in Mozambique includes the development of the Golfinho and Atum natural gas fields in the Offshore Area 1 concession, and the construction of a two-train liquefaction plant.
The unprecedented decline in demand forced producers to make record output cuts and pump hundreds of millions of barrels of oil into storage.