The International Gas Union (IGU) expects global liquefaction capacity to reach 700 mtpa by 2030, up 75% from 2023, driven by new FIDs and the start-up of other projects under construction.
Here’s a roundup of the latest E&P headlines, including the Israeli government approving increased gas export at the Leviathan Field and Equinor winning a FEED contract for the all-electric Fram Sør Field.
Stratas Advisors expects price movements in the coming week to be dampened because of economic and political uncertainty.
Crude prices declined despite signs of improving U.S. oil demand and falling fuel inventories that helped boost crude prices to a seven-week high a day earlier.
Higher world oil production, led by U.S. and other producers in the Americas, will outpace demand between 2023-2030 and inflate the world’s spare capacity cushion, according to the IEA.
Aramco looks to offtake LNG from NextDecade Corp.’s Rio Grande LNG Train 4 in Brownville, Texas. A move that will source feed-gas from the Permian and Eagle Ford.
Oil prices edged up to settle slightly higher on June 11 as the U.S. Energy Information Administration raised its global oil demand growth forecast for the year, while OPEC stuck to its forecast for relatively strong growth in 2024.
Analysts with Norway’s Equinor argue that increased levels of geopolitical conflict and outright wars “have made the energy transition more fragmented,” despite U.S. LNG creating an energy security blanket for Europe and elsewhere.
Here’s a roundup of the latest E&P headlines, including a decline in global drilling activity and new contract awards.
BP and Worley’s collaboration plans to save an initial estimated $40 million over two years across BP’s sites where Worley holds a service contract.