International

At a time when oil prices are surging and global supply is struggling to meet fast recovering energy demand, ExxonMobil and its partners have added 220,000 b/d oil production capacity to their offshore Guyana project. Production has begun at the second offshore oil development at the prolific Stabroek block. The Liza Phase 2 development is…

Rebounding industrial activity – and energy needed to fuel it – along with continued strong demand for U.S. exports could drive natural gas consumption through 2022, according to analysts who presented during a webinar (replay available) hosted Tuesday by Natural Gas Intelligence (NGI) and Independent Commodity Intelligence Services (ICIS). An accelerating U.S. economy and manufacturing…

Europe’s recent energy shortages have laid bare the continent’s need for stable natural gas supplies as it decarbonizes its economy, according to the management team of Norway’s Equinor ASA. CEO Anders Opedal helmed a conference call earlier this month with analysts to discuss the majority state-owned energy major’s fourth quarter and full-year 2021 earnings. “The…

Australia’s Origin Energy Ltd. expects to write off $190-200 million by selling a 10% stake in the Australia Pacific liquefied natural gas (LNG) venture. Ahead of the release of its half-year results on Thursday, the integrated energy company disclosed that the completion of the sale by the end of March will likely leave the company…

If the Dutch government decides to ramp up production from the Groningen field in the northeastern part of the Netherlands from 3.9 billion cubic meters (Bcm) to 7.6 Bcm this year to meet Germany’s request for additional volumes, the increase is not expected to solve Europe’s natural gas shortage. “An increase in production from Groningen…

The geopolitical standoff between Russia and Ukraine has deepened turmoil in Europe’s natural gas market and laid bare its dependence on energy imports, but it remains highly unlikely that Russia would halt all natural gas flows or even significantly curb deliveries to the continent. Russia’s Gazprom PJSC “does not need to stop gas to wreak…

Using what they call “groundbreaking” methods, researchers in a new paper claimed to have found up to 12% of the globe’s methane emissions are coming from massive but often overlooked releases from major oil and gas producing regions. The paper, published Thursday in the peer-reviewed journal Science, used thousands of daily images from a European…

Spark Commodities reported its first ever negative spot liquefied natural gas (LNG) freight rate on Tuesday as a glut of tankers in the Atlantic Basin that are moving cargoes faster to Europe has dragged down rates. Spark assessed Atlantic Basin rates at minus $750/day, reflecting what CEO Tim Mendelssohn said is an increase in vessel…

The first native contender for Canadian liquefied natural gas (LNG) exports has hired engineering contractors, entered the final stage of environmental review and confirmed a 2023 target date to start building a tanker terminal. Cedar LNG, created by the Haisla Nation at its Kitimat site on the northern Pacific coast of British Columbia (BC), on…