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Biden’s Natural Gas Export Project Freeze Is a ‘Mistake,’ Exxon CFO Says

Conventional Energy, Latest, LNG, US News / By

The Biden administration’s decision to halt new natural gas-export licenses is a “mistake” that will slow efforts to reduce climate-damaging emissions, according to Exxon Mobil Corp. “Reducing production of LNG actually harms the world achieving net zero sooner rather than later,” Chief Financial Officer Kathy Mikells said during an interview. “It’s a mistake.” Although natural gas that is liquefied …

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Asia LNG Imports are Robust, But Record Supply Keeps Spot Prices Muted

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(Reuters) – The spot price of liquefied natural gas (LNG) is continuing to meander at low levels amid ample supply from major exporters and signs that winter demand is easing in the top-importing regions of Asia and Europe. The spot price for LNG delivered to north Asia ended at $9.60 per million British thermal units …

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European and Asian Companies Affected by U.S. Pause on LNG Export Permits

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(Reuters) – U.S. President Joe Biden’s administration announced a pause on pending and future permits to export liquefied natural gas (LNG) to non-Free Trade Agreement countries until the Department of Energy finishes a new review of climate impacts. In 2023, roughly 67% of U.S. LNG exports went to Europe and 26% went to Asia, LSEG data …

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Oil Steady as Mideast Strikes Compete with Rate Cuts Caution

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Summary Positive U.S. jobs report could delay rate cuts US plans further strikes against Iran-backed groups Ukraine hits Russia’s Volgograd refinery in latest drone attack (Reuters) – Oil prices were steady on Monday following sharp falls last week, after Washington pledged to launch further strikes on Iran-backed groups in the Middle East and a strong …

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COMMENTARY: An excellent Congressional challenge to “Environmental Justice” – Alex Epstein

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Members of Congress just submitted and signed an excellent ETP-advised letter challenging the Biden Administration’s most recent “Environmental Justice” initiative. By Alex Epstein I have long been a critic of the “environmental justice” movement. Like so many aspects of the anti-fossil-fuel movement it ignores the benefits of fossil fuels and overstates their negative side-effects. Unfortunately, many in Congress …

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U.S. Unveils Charges, Seizures Linked to Iranian Oil Network

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The U.S. Department of Justice (DOJ) on Friday announced terrorism and sanctions-evasion charges and seizures linked to a billion-dollar oil trafficking network that it says finances Iran’s elite Islamic Revolutionary Guard Corps (IRGC). “The Department of Justice’s actions are critical to stemming the flow of money that Iran uses to engage in activities that threaten …

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Oil Falls to End the Week as U.S. Jobs Data Dents Hope for Near-Term Rate Cuts

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Summary U.S. employers added far more jobs in January than expected International Monetary Fund sees China economic growth slowing Whiting refinery power restored after outage NEW YORK, Feb 2 (Reuters) – Oil prices fell by about 2% on Friday and were headed for weekly losses after U.S. jobs data shrank the odds of imminent interest …

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US Drillers Cut Oil and Gas Rigs for First Time in Three Weeks – Baker Hughes

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Feb 2 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes (BKR.O), opens new tab said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, …

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U.S. LNG Export Pause Leaves EU, Industry at Odds Over Energy Security

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Europe will have enough gas supply for the next 10 years and thereafter despite a move by the U.S. administration to pause approvals on new liquefied natural gas (LNG) plants, EU energy officials and analysts said, dismissing industry’s warnings. Gas companies – and lobby groups who learned of the move ahead of the decision and …

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