Russia’s largest independent gas producer, Novatek, saw its production rise 4.5% year-on-year during the third quarter of 2020, despite a slight decline in total sales volumes, Kallanish Energy reports. The company said in its Q3 results that total gas production reached 19.13 billion cubic meters (Bcm) in the July-September quarter, up from 18.31 Bcm a
Read More...China’s Sinopec reported a net profit attributable to shareholders of 24.45 billion yuan ($3.64 billion) during the third quarter, while boosting natural gas sales and maintaining production levels, Kallanish Energy reports. The company said in its financial statement net profit was down 44.7% compared to the 44.22 billion yuan ($6.6 billion) recorded a year ago,
Read More...Brazilian state-run oil company Petrobras may have to start a new bidding process for the lease of a liquefied natural gas (LNG) regasification terminal in Bahia, Kallanish Energy reports. The company said late last week it opened bids from three companies: bp, Compass Gas e Energia and Golar Power. Only one commercial proposal was received,
Read More...National oil companies (NOC) are less prepared for the energy transition than their counterparts in the private sector, which increases their credit risks, Moody’s said Monday. According to a new report by Moody’s Investors Services, the energy transition poses varying degrees of credit risk to the world’s largest NOCs. Those in oil importing countries, where
Read More...Vietnam has given ExxonMobil the green lights to proceed with the massive LNG-to-power project, estimated to cost $5.09 billion, Kallanish Energy reports. The northern port city said last week authorities have approved the development, which includes power plants and an import terminal. The statement follows on a previous welcome statement by the Vietnamese government in
Read More...The shipping industry’s “grand challenge” of decarbonization will have to rely on a mix of fuels, rather than wait for the ideal solution to arrive, according to DNV-GL. The consultancy said in its Maritime Forecast to 2050 report that currently there are at least 16 different fuel types and 10 fuel technology systems in the
Read More...Biomethane can help decarbonize Europe’s gas markets, but continued growth depends on policy support, Wood Mackenzie said this week. According to analysts Graham Freedman and Nnenna Amobi, the carbon-neutral renewable gas can be directly injected into existing natural gas infrastructure and decarbonize the heating and transport sectors. That’s because biomethane is a purified form of
Read More...French energy major Total posted on Thursday losses of over $8.37 billion during second-quarter driven by impairments, lower hydrocarbon prices and production levels, Kallanish Energy reports. The net loss compares to a net profit of $2.76 billion during the same period last year, as “exceptional circumstances” led to asset impairments totalling $8.1 billion. The majority
Read More...... … … [Editor Comment: Pipelines here at home in the U.S. are ever harder to get done as extremist opponents tie them up in courts, but China is moving ahead ever faster.] While pipelines in the United States face increasingly hostile legal challenges, China is seeing the importance of a national oil and natural
Read More...Russian gas giant Gazprom is negotiating an additional 6 billion cubic meters per year (Bcm/y) of gas supply to China, Kallanish Energy reports. The company is in talks with its partners to increase gas deliveries via the Power of Siberia, CEO Alexey Miller said in an interview published on Gazprom’s website last Friday. If an
Read More...Belgium shipping company Exmar is considering the best way to defend its interests in a dispute with Argentina’s YPF, Kallanish Energy reports. The company said last week it received notification of force majeure from YPF under the Charter Agreement and Services Agreement they hold for the Tango FLNG barge. Exmar said the move is “unlawful,” and
Read More...China’s oil and gas company CNOOC announced on Monday a “significant” oil and gas condensate discovery off the South China Sea, Kallanish Energy reports. The discovery of Huizhou 26-6 in the eastern South China Sea is set to become the first mid-to-large sized field in the shallow waters of Pearl River Mouth Basin. The well-encountered
Read More...Total-led liquefied natural gas project, Mozambique LNG, has reportedly been offered a five-year, $2.25 billion funding guarantee from the Mozambican government. Partners at the $20 billion onshore project are said to have agreed to the guarantee in lieu of an immediate equity contribution from state-run National Hydrocarbon Company (ENH). The company owns a 15% stake
Read More...UK’s oilfield services company, TechnipFMC, has bagged two new contracts from Norway energy major Equinor, Kallanish Energy reports. The deals are worth up to $189.7 billion and comprise pipelaying and subsea installation for projects in the Norwegian Continental Shelf, Equinor said on Tuesday. It covers the Breidablikk project and a gas import system for the
Read More...U.S. liquefied natural gas (LNG) exporters could see the cancellation of an estimated 40-45 cargos for August loading, similar to levels reported for July loadings, Kallanish Energy reports. Citing unnamed sources, Reuters reported earlier this week Cheniere is likely to see 30 cargos canceled, while up to 10 shipments could be canceled from the Freeport
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