|Day's Range||2.5800 - 2.6430|
Anadarko Petroleum's (APC) FID decision on Mozambique's first onshore LNG facility will boost economic development of the African nation.
The crude oil markets went back and forth during the trading session on Wednesday waiting for the Federal Reserve statement. That being said, it’s very unlikely that this market will make a move without some type of simulative effect from the central bank.
Lobby groups representing some of the world's biggest polluters have sent thousands of delegates to negotiations aimed at limiting global warming since UN climate talks began, according to data obtained by AFP. The United Nations Framework Convention on Climate Change (UNFCCC) brings together nations, environmental groups, scientists and policymakers to work on measures to stave off the worst social, economic and ecological threats posed by runaway temperatures. Trade associations that represent oil and gas majors are entitled under the convention's own rules to attend annual UNFCCC talks and inter-sessional meetings as observers.
The day that investors have been eagerly awaiting in anticipation for at least the past month is finally here.
As of June 18, the natural gas futures contracts for delivery between July and September were priced in descending order. On June 11–18, natural gas July futures fell 3%, UNG fell 3.1%, and BOIL fell 6.7%.
On June 18, natural gas July futures fell 2.4% and settled at $2.33 per million British thermal units. On the same day, Chesapeake Energy (CHK) and Gulfport Energy (GPOR) rose 3.8% and 1.8%, respectively.
U.S. energy firm Anadarko Petroleum Corp on Tuesday gave the go-ahead for the construction of a $20 billion gas liquefaction and export terminal in Mozambique, the largest single LNG project approved in Africa. The announcement, which occurred at an event in Mozambique, was widely expected after Anadarko last month flagged the decision date. "As the world increasingly seeks cleaner forms of energy, the Anadarko-led Area 1 Mozambique LNG project is ideally located to meet growing demand, particularly in expanding Asian and European markets," Chief Executive Officer Al Walker said in a statement.
Norwegian Oil CEO Erik Haugane sees opportunities for smaller operators in the Norwegian offshore oil game as he expects big oil to withdraw soon
US energy firm Anadarko plans to invest $25 billion (22 billion euros) in developing gas reserves off the northern coast of Mozambique, the government said Tuesday, hailing the "largest foreign investment" in the country's history. The investment is the latest chapter of what Mozambique hopes will become a tale of economic rebirth after gigantic gas reserves were discovered at the beginning of the decade off the northern Cabo Delgado province in the southeast African nation. Anadarko is one of several global companies investing billions in offshore exploration.
U.S. energy firm Anadarko Petroleum Corp on Tuesday gave the go-ahead for the construction of a $20 billion gas liquefaction and export terminal in Mozambique, the largest single LNG project approved in Africa. The announcement, which occurred at an event in Mozambique, was widely expected after Anadarko last month flagged the decision date. "As the world increasingly seeks cleaner forms of energy, the Anadarko-led Area 1 Mozambique LNG project is ideally located to meet growing demand, particularly in expanding Asian and European markets," Chief Executive Officer Al Walker said in a statement http://pdf.reuters.com/htmlnews/htmlnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20190618:nPn4scVtza.
A new Arc7 class ice-breaking liquefied natural gas (LNG) tanker, the Nikolay Urvantsev, is undergoing sea trials, Refinitiv data shows, becoming the 13th vessel to join a fleet servicing Novatek's Yamal plant. The vessel, previously known only as DMSE 2432, is owned by Mitsui OSK Lines (MOL) and was built at the Daewoo Shipbuilding and Marine Engineering (DSME) Okpo shipyard in South Korea. Another Arc7 tanker, the Vladimir Voronin, is also undergoing sea trials.
Capital investment across Canada’s oil and natural gas industry is expected to decline to just US$27.6 billion (C$37 billion), a far-cry from its 2014 high
Hydrogen is set to play an important role in the energy mix of the future, and researchers are already looking at ways to use hydrogen to replace natural gas in heating homes
Proposed changes to the Panama Canal transit tolls would provide further incentives for container ships and hike prices for other vessel types. The consequences could ripple beyond ocean shipping – the more container lines are convinced to bring Asian exports to the U.S. East Coast via the Panama Canal instead of unloading in California, the worse for intermodal rail and the better for trucking. The Panama Canal Authority (ACP) is proposing toll changes to be effective January 1, 2020.
Next year's output at the Groningen natural gas field in the north of the Netherlands looks set to drop 20% more than previously announced, the Dutch government said on Monday. Production at the field, operated by Royal Dutch Shell and Exxon Mobil, could be limited at 12.8 billion cubic metres (bcm) in the year starting October 2019, the government said, to limit seismic risks in the region. The government said in February that production would drop to 15.9 billion cubic metres (bcm), but was forced to cap production faster than planned after a 3.4 magnitude earthquake hit the Groningen region last month.
Brazilian state-run oil firm Petroleo Brasileiro SA has made natural gas discoveries in six deep-water fields in the Sergipe Basin, it said in a regulatory filing on Monday. Newspaper O Estado de Sao Paulo reported on Sunday that the find was the largest since the sub-salt discoveries in 2006, and that Petrobras could extract up to 20 million cubic meters of natural gas per day, equivalent to one third of total Brazilian production. According to O Estado, the find could help deliver the "cheap energy shock" to Brazil promised by Economy Minister Paulo Guedes, his vision to reduce the cost of natural gas by up to 50% and "reindustrialize" the country.
Despite a slight recovery, natural gas prices remained close to the lowest levels in three years because of growing fears that soaring production is outpacing demand growth.
Last week, natural gas July futures rose 2.1% and settled at $2.387 per million British thermal units. Bullish inventory data and higher demand could be behind the recovery in natural gas prices.
Early in the week, trader reaction to a minor top at $2.406 will tell us if the short-covering is getting stronger. If momentum begins to build on this move then the rally could eventually extend into the short-term pivot price at $2.518. This rally will look impressive on the short-term charts, but it will only represent short-covering.
OTTAWA/CALGARY, Alberta (Reuters) - Canada looks set to approve a hotly-debated plan to expand an oil pipeline this week, people familiar with the process told Reuters, but the move is unlikely to help Prime Minister Justin Trudeau rebuild flagging support ahead of an October election. The Liberal government last year took the unprecedented step of buying the Trans Mountain pipeline from Kinder Morgan Canada for C$4.5 billion ($3.4 billion) to ensure the expansion went ahead to help solve crude transportation bottlenecks. If completed, the expansion would nearly triple capacity on the pipeline that runs from the western crude-rich province of Alberta to British Columbia's Pacific coast.
Papua New Guinea's new prime minister has an ambitious -- cynics would say far-fetched -- objective of turning one of the world's poorest countries into the "richest black nation" on earth in just a decade. If national economies were like football teams, then Papua New Guinea would be near the bottom of the table struggling to avoid a relegation dogfight. As rich as Papua New Guinea is in culture, language and beauty, it is the 153rd most developed country in the world out of 189, according to the United Nations -- doing slightly better than Syria, marginally worse than Myanmar.
In stark defiance of Trump’s rhetoric, China and Russia have doubled down on their cooperative Arctic efforts in a new natural gas venture
Today’s positive US data seemed to mitigate the speculations over a probable Fed rate cut. Fiber dropped 0.66% reaching near 1.1214 levels amid Greenback upsurge and weak German & Italian data.