Conventional Energy

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Guyana Selects Former Exxon Exec’s Firm to Engage with Exxon in Gas Project

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(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 …

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Global LNG Market Remains in Fragile Equilibrium on Limited Supply, IGU Says

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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 …

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Major Canadian LNG News: Cedar LNG Announces Positive Final Investment Decision

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World’s First Indigenous Majority-Owned, Hydro-Powered, Floating LNG Facility Becomes a Reality KITAMAAT VILLAGE, British Columbia–(BUSINESS WIRE)–The Haisla Nation and Pembina Pipeline Corporation (“Pembina”) (TSX: PPL; NYSE: PBA), partners in Cedar LNG Partners LP (“Cedar LNG”), today announced a positive Final Investment Decision (“FID”) on the Cedar LNG Project, a floating liquefied natural gas (“LNG”) (“FLNG”) facility with a …

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The Carbon Cleanup Industry Is Growing in Louisiana

Carbon Capture, Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Oil, US News / By

Startup Heirloom announced it will be building facilities to suck carbon from the air in the northwest corner of the state, thanks to a skilled workforce and ideal geology. The Biden administration’s hub to clean carbon from the air in northwest Louisiana is getting company. On Monday, Heirloom Carbon announced that it’s constructing a facility with machines …

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Barclays CEO Says Banks Can’t Go ‘Cold Turkey’ on Oil Clients

Conventional Energy, Energy Topics & Technology, Finance, Latest, LNG, Natural Gas, Oil, US News / By

The chief executive of Barclays Plc characterized as unrealistic growing calls for the finance industry to abandon fossil-fuel clients. Banks “cannot go cold turkey” on the oil and gas industry, Barclays CEO CS Venkatakrishnan told Bloomberg’s Anna Edwards at the Bloomberg Sustainable Finance Forum in London on Tuesday. While Barclays’ is “very much moving from away from” coal and oil, the …

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Oil Prices Edge Down With U.S. Inflation Data in Focus

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(Reuters) – Brent crude fell on Tuesday while investors awaited U.S. inflation data later this week, but prices held above the $85 level after the previous session’s gains on escalating geopolitical tensions and hopes of improved demand this summer. Brent futures for August settlement were down 43 cents at $85.58 a barrel by 1100 GMT. …

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Rising US Labor Costs Threaten to Derail New LNG Projects

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A shortage of skilled labor and nagging inflation from strong wage growth on the U.S. Gulf Coast are pressuring liquefied natural gas (LNG) developers and delaying some projects from reaching a financial go-ahead. There are five LNG plants under development in Texas and Louisiana and 16 others on the drawing board in the U.S. looking …

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U.S. Natgas Prices Ease to 2-Week low on Output Rise, Lower Demand Forecast

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U.S. natural gas futures eased about 1% to a two-week low on Monday as output slowly rises and on forecasts for less hot weather and lower cooling demand next week than previously expected. That price decline came despite forecasts for more hot weather and cooling demand this week than previously expected. Front-month gas futures for …

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Oil Edges Higher as Demand Expectations Offset Dollar Strength

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(Reuters) – Oil prices firmed slightly on Monday as traders weighed support from expected summer demand and geopolitical tensions against a stronger dollar. Brent crude futures were up 22 cents, or 0.3%, at $85.46 a barrel by 1053 GMT. U.S. West Texas Intermediate crude futures were up 19 cents, or 0.2%, at $80.92. Both benchmarks …

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EU Adopts New Sanctions Against Russia, Including LNG

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European Union countries adopted a 14th package of sanctions on Russia that aims to close some circumvention loopholes and hits Russia’s gas exports for the first time, EU foreign affairs ministers said in a statement on Monday. Western powers imposed sweeping sanctions on Moscow after Russia launched a full-scale invasion of Ukraine in February 2022, …

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