Tagged Prices

Japan’s spot LNG prices hit new lows in May

Rate this article By Adnan Bajic Prices of spot liquefied natural gas (LNG) imported into Japan have reached their lowest point in May. Courtesy of Tokyo Gas To remind, Japanese Ministry of Economy, Trade and Industry (METI) started compiling the data in March 2014. In its latest monthly report, the ministry noted the contract-based spot…

Poland’s PGNiG profit hit by impairments

Rate this article By Mirza Duran Poland’s dominant gas firm and LNG importer PGNiG reported a 29 per cent lower net profit in the first quarter, hit by impairments. Swinoujscie LNG terminal (Image: PGNiG) Quarterly net profit stood at 779 million Zlotys ($196m) when compared to 1.1 billion Zlotys in the January-March period last year….

Petronas books smaller profit after being hit by lower prices

Rate this article By Nermina Kulovic Petronas saw its profit and revenues drop in the first quarter of 2020 after being hit by lower average realised prices for LNG, petroleum products, and crude oil & condensates. The post… … Read Full Article Here For more great articles: Offshore Energy Today

Gulf Energy wins Thai LNG import licences

Rate this article By Mirza Duran Gulf Energy Development said on Thursday it has secured licences from the government of Thailand to import liquefied natural gas as it looks to reduce power prices in the country. For illustration purposes only (Image courtesy of Gulf Energy Development) The Energy Regulatory Commission approved Gulf’s request for an…

Petrofac reveals fresh cost-cutting plans

Rate this article By Nermina Kulovic In order to mitigate the effects of coronavirus crisis and low oil prices, oilfield services provider Petrofac is taking further action to reduce costs and preserve balance sheet. The post… … Read Full Article Here For more great articles: Offshore Energy Today

Rystad Energy: which LNG projects can curtail production?

Rate this article By Adnan Bajic LNG producers with short-run marginal costs (SMRCs) that exceed spot prices are increasingly looking to curtail production. Illustration purposes only (Image courtesy of Cheniere) Such moves are being considered as global liquefied natural gas (LNG) benchmark prices continue to fall due to oversupply on account of Covid-19. An analysis…