International

Domestic crude production ticked lower last week along with demand, the U.S. Energy Information Administration (EIA) said Wednesday. The latest government snapshot followed President Biden’s assertion this week that energy majors are keeping a lid on output in order to maintain high oil and natural gas prices to bolster profits. Biden on Monday floated a…

Equinor ASA’s natural gas production and related revenues continued to rise in the third quarter as it answers Europe’s call to replace lost Russian imports, but management sees more volatility on the horizon, including from potential price cap policies. CEO Anders Opedal said the firm and Norway as a whole have taken on an increased…

Amid a “profound reorientation” in international energy markets due to a supply disruption following Russia’s invasion of Ukraine, global demand for natural gas, coal and oil is expected to peak or plateau by the mid-2030s, the International Energy Agency (IEA) said Monday. In its annual World Energy Outlook (WEO-2022), the IEA said the global energy…

ConocoPhillips has been selected as a partner in QatarEnergy’s North Field South (NFS) LNG expansion project with a 6.25% stake awarded to one of the world’s largest independents. ConocoPhillips is the third company to sign on to the two-train, 16 million metric ton/year (mmty) capacity liquefied natural gas project planned from Qatar’s prolific North Field.…

TotalEnergies SE reported a 10% sequential decline in second quarter LNG sales, but stronger prices for the super-chilled fuel helped the company cruise to a record profit. The sales decline was mainly due to the outage at the Freeport liquefied natural gas terminal on the Upper Texas coast, where TotalEnergies has long-term offtake agreements in…

Natural gas prices in Europe and Asia have leveled off amid warmer weather and strong storage stocks in both regions.  In Europe, where inventories are at 94% of capacity, temperatures are expected to remain mild next week, according to Maxar’s Weather Desk.  Above normal temperatures are expected in big gas consuming regions like France, Germany…

Santos Ltd. management said strong domestic natural gas demand and persisting high global LNG prices helped the company continue breaking performance records in the third quarter as it navigated progress and potential setbacks for its major projects. Like other integrated Australian producers, Santos has had to straddle the line between heightened global demand for liquefied…

Asian spot LNG prices surpassed the ICIS TTF benchmark this week for the first time since late June on rising demand in Asia and high stock levels in Europe.

Some of the largest Japanese offtakers of U.S. LNG met with federal and Alaskan officials during a summit in Japan to discuss developing an export project that could connect North Slope natural gas to a supply-short Asian market. At a summit convened in Tokyo by U.S. Ambassador to Japan Rahm Emanuel, Sen. Dan Sullivan (R-Alaska)…