Technip Energies JV Named Lead Project Contractor of Texas LNG Project
Through a joint venture, Technip Energies and Samsung Engineering won a pre-FID engineering contract for a Brownsville, Texas-based LNG project, with Technip Energies as the lead contractor for project design and delivery.
Denbury to Participate in Planned Clean Ammonia Project in Geismar, Louisiana
Denbury Carbon Solutions will transport and store CO2 captured from Canadian fertilizer company Nutrien Ltd.'s Geismar, La.-based clean ammonia project under a new term-sheet agreement.
Chevron Launches Carbon Capture, Storage Project in San Joaquin Valley
Chevron New Energies will launch a carbon capture storage project at its operations in San Joaquin Valley, Calif. that will reduce carbon intensity through underground CO2 storage.
US Emergency Oil Reserve Drops to Lowest Level Since 1987
Crude oil stockpiles in the U.S. Strategic Petroleum Reserve fell to 538 million barrels, the lowest since 1987, data from the U.S. Department of Energy showed.
ArcLight Sells Houston-based Enstor Gas to JP Morgan’s IIF
Headquartered in Houston, Enstor Gas is the largest privately owned natural gas storage company in the U.S. including six active underground natural gas storage facilities with more than 110 Bcf in working gas capacity.
Biden Sidelined Global Energy Partners with Record Emergency Oil Release
“The IEA was embarrassed by the [U.S.] release which was at the start done essentially unilaterally by the U.S.,” said a source familiar with the diplomacy around the release.
US Crude Stockpiles Slump as Export Surge to More Than 2-year High: EIA
“Strong exports have been driven by a pull to Europe and we should expect strength in the weeks ahead,” said Matt Smith, lead Americas analyst at Kpler.
US Natgas Futures Scale 13-year Peak on Forecasts for Unusual Cold
“The acceleration higher is mainly due to some late winter weather, low storage levels, higher demand for LNG shown by exports and some industrial demand,” said Thomas Saal, senior vice president for energy at StoneX Financial Inc.
US Crude Stocks Surge on Strategic Reserve Release
Analyst estimates for a shortfall vary, but are anticipated to fall between 1 million and 3 million bbl/d. U.S. oil production is rising, but it will not grow swiftly enough to offset all of those losses, according to the EIA.
Analysis: US Strategic Oil Sale Speeds Fuel-price Fix, But at What Cost?
“I think it’s extremely cowboy-ish ... by doing an outright sale, purely thinking like a trader, if I did that I would get fired. Nobody knows which way the oil price will go,” said Ilia Bouchouev, partner at Pentathlon Investments and adjunct professor at NYU.