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The consolidation wave in the U.S. energy sector that triggered $250 billion worth of deals in 2023 has stretched into this year, as companies look for opportunities to deploy their cash hoard and boost their oil and gas reserves. The total value of deals in January and February hit the highest level since the first …
U.S. Energy Sector Deals Accelerate in Quest for Reserves Read More »
Saudi firm could buy 25% of Sempra’s Port Arthur LNG Phase 2 Aramco agrees to 5-year supply deal for 5 million tons/year Saudi Aramco expanded its drive to tap into US energy supply with an initial agreement to buy a stake in Sempra’s Texas liquefied natural gas export plant in a deal that would include fuel shipments …
Aramco May Buy Stake in Sempra US Gas Plant, Get LNG Supply Read More »
U.S. liquefied natural gas company Venture Global LNG’s Plaquemines export plant under construction in Louisiana started to take in natural gas from pipelines on Wednesday, according to data from financial firm LSEG on Thursday.The United States is already the biggest LNG exporter in the world. Plaquemines is expected to be the next U.S. LNG export …
Venture Global Louisiana Plaquemines LNG Export Plant Takes in First Natural Gas Read More »
SM Energy said on Thursday it had agreed to buy some shale assets of oil and gas producer XCL Resources for about $2 billion, extending its footprint in the Uinta region in Utah. Northern Oil and Gas will also buy 20% of the oil and gas assets of EnCap Investments-backed XCL for $510 million, resulting …
SM Energy Buys XCL Resources’ Shale Assets for $2 Bln Read More »
U.S. energy production overshadowed consumption by 9 quadrillion British thermal units (quads) in 2023, according to an analysis released by the U.S. Energy Information Administration (EIA) on Wednesday that showed the widest margin in records dating back to 1949. Energy production rose 4% to hit a record of nearly 103 quads in 2023, the analysis …
U.S. Energy Production Exceeds Consumption by Widest-Recorded Margin Read More »
U.S. crude stocks and gasoline inventories rose while distillate inventories fell in the week ending June 21, the Energy Information Administration said on Wednesday. Crude inventories rose by 3.6 million barrels to 460.7 million barrels, the EIA said, compared with analysts’ expectations in a Reuters poll for a 2.9 million-barrel draw. Crude stocks at the …
U.S. Crude Stocks and Gasoline Inventories Rise, Distillate Inventories Fall, EIA Says Read More »
Ex-BP executive Lawler hired to lead Texas Gas subsidiary Fund boosts stake in Louisiana LNG project to more than 90% Energy-focused private equity firm Kimmeridge is taking a majority ownership stake in the proposed Commonwealth LNG project and naming a former BP Plc executive to lead the venture, marking a major bet on the future of the …
Energy Investor Kimmeridge Takes Control of Commonwealth LNG Read More »
Never before has natural gas played a bigger role in fulfilling the world’s energy needs. While consumption of oil and coal are poised to peak, demand for gas is rapidly growing, setting it up to be the last fossil fuel standing as nations adopt cleaner sources in an effort to avert the worst consequences of climate change. …
Is Natural Gas a Fossil Fuel Trap or a Bridge to Clean Energy? Read More »
(Reuters) – A newly formed company headed by a former Exxon Mobil executive was selected to support the Guyana government and Exxon to create a new independent natural gas development in the country, Guyana’s Ministry of Natural Resources said. Fulcrum LNG offered “the most comprehensive and technically sound proposal” among 17 bidders, the government said in …
Guyana Selects Former Exxon Exec’s Firm to Engage with Exxon in Gas Project Read More »
The global liquefied natural gas (LNG) market has a new found, but fragile equilibrium, following two years of volatility, due to lack of spare supply in the near-term, the International Gas Union (IGU) said in a report on Wednesday. Global LNG trade reached a record level of 401.42 million metric tons in 2023, growing by …
Global LNG Market Remains in Fragile Equilibrium on Limited Supply, IGU Says Read More »
