The Vitol-chartered vessel was shipping intermediate oil products including vacuum gasoil and fuel oil from Russia’s Taman port to New Orleans last week, according to a trading source and shipping data.
Crude oil exports from the U.S. to Europe are expected to average 1.4 MMbbl/d this quarter after U.S. exports rose since the release of 180 MMbbl of oil from the Strategic Petroleum Reserve.
Denver-based DCP Midstream recently agreed to acquire the James Lake System from Woodland Midstream II, which increases DCP’s gathering capacity in the Permian Basin.
Russia cut gas flows through its Nord Stream 1 pipeline to Europe by 40% of the pipeline capacity, triggering worries that Europe will not have enough gas in the winter if this continues.
Within the span of roughly two weeks, state-owned QatarEnergy has tapped supermajors from across the globe to lend a hand in the development of its mega LNG project in Qatar’s North Field East.
The German economy ministry is considering expropriating the German portion of the Nord Stream 2 pipeline system, built by Russian gas giant Gazprom, and cutting it off from the rest of the pipeline.
“The primary rating concern for Freeport LNG is that the sole source of revenue is dividends from the three liquefaction plants, owned by three operating companies,” Fitch said in a rating action commentary.
In what has already been a volatile year of trade, the June 23 price drop was only the biggest one-day decline since mid-June. So far in 2022, U.S. natural gas futures have lost over 10% in five sessions.
Separately, Cheniere announced two LNG supply deals with Chevron, one of which is conditional on a positive FID of a new Corpus Christi liquefaction project, meaning the next leg of Cheniere’s expansion is in the works.
Canada's parliamentary budget officer recently reported that the government-owned Trans Mountain pipeline has a net present value of negative C$600 million, making it no longer profitable.