International

After being rescued from a Wisconsin tribal lawsuit by the Canadian government regarding its Line 5 oil pipeline, Enbridge Inc. has made a corporate vow to improve relations with native communities across North America. “We recognize the deep and meaningful connections that Indigenous nations have to water, land and the environment,” Enbridge management said in…

Policymakers must ensure the supply of conventional energy sources alongside lower carbon ones as the energy transition marches on, according to Saudi Arabian Oil Co. (Aramco) CEO Amin Nasser. The head of the state-owned oil behemoth has been warning of the threats to global energy security posed by underinvestment in oil and natural gas. “Many…

Natural gas prices at the Waha pricing point in West Texas continue to offer an attractive long term option for offtakers, including in Mexico, according to analysis from the U.S. Energy Information Administration (EIA). Since late 2021, the difference “has been widening” between the natural gas price at Waha and the Henry Hub benchmark in…

Despite South Korea’s plan to boost the use of nuclear energy in the country’s power generation mix by 2030, LNG will continue to play an important role in the government’s new energy strategy.  President Yoon Suk-yeol was elected in March and is a strong supporter of nuclear energy. He plans to reduce the country’s dependence…

Sydney-based Origin Energy Ltd. plans to divest its interest in Australia’s Beetaloo Basin and end its involvement in a joint venture (JV) to develop unconventional natural gas resources in the play as it continues to focus on energy transition initiatives.  Origin – which also has power generation assets and utility businesses in Australia, Papua New…

Russia’s Gazprom PJSC again reported a slide in both natural gas production and exports as it has nearly cut off all deliveries to Europe in retaliation for sanctions against its war in Ukraine.  The state-owned company, which holds the world’s largest gas reserves and is among the largest exporters, said year/year deliveries to countries outside…

European Commission President Ursula von der Leyen on Wednesday pledged “deep and comprehensive reform” of the European Union (EU) electricity market and promised to continue exploring ways to bring down natural gas prices.  The EU is being “tested” not only with Russia’s war on Ukraine, but “a war on our energy. It is a war…

U.S. oil output was flat for a third consecutive week as demand fell amid increasing consternation about a looming economic recession, U.S. Energy Information Administration (EIA) data released Wednesday showed. Production for the period ended Sept. 9 was even with the previous two weeks at 12.1 million b/d, EIA said in its Weekly Petroleum Status…

China, the world’s largest buyer of LNG,  is reselling the super-chilled fuel to Europe and Asia as an economic slowdown and a boost in Russian gas supplies have created surplus inventories.  In 2021, Chinese gas demand grew at the fastest rate on record, when year/year imports increased by 19.9%, according to the Middle East Institute…