Tagged Prices

U.S. LNG exports slip in July, average prices rise

Rate this article By Adnan Bajic Liquefied natural gas (LNG) exports from the United States dropped in June, data from the Department of Energy shows. Courtesy of Cheniere The U.S. export facilities shipped a total of 31 cargoes, three less than in the previous month and 20 cargoes less when compared to July 2019. Out…

ACCC: low oil and LNG prices hike medium, long-term supply risk

Rate this article By Adnan Bajic The onset of the COVID-19 pandemic in early 2020 saw the collapse of oil and gas prices to record low levels. Illustration. Courtesy of Santos In its Gas Market Inquiry 2017-2025 report, the Australian Competition and Consumer Commission’s (ACCC) noted that the full effect of the pandemic is still…

Japan’s spot LNG prices drop after brief uptick

Rate this article By Adnan Bajic Prices of spot LNG cargoes contracted or delivered into Japan during the month of August dipped again after a slight improvement in June and July. Illustration only (Courtesy of K Line) Data from the Ministry of Economy, Trade and Industry shows that the contract-based price in August was at…

US weekly LNG exports still low

Rate this article By Mirza Duran US LNG exports increased in the week ending August 12 but they still remain at low levels as the Covid-19 pandemic continues to weigh on global prices and demand. Sabine Pass LNG (Image: Cheniere) The Energy Information Agency agency said in its weekly gas natural gas report that five…

Pakistan LNG secures mid-August spot cargo

Rate this article By Adnan Bajic State-owned Pakistan LNG has secured an additional cargo for mid-Augusts in a swift procurement procedure. Courtesy of Pakistan LNG The company floated a tender and completed the process within a week, according to its tender documents. The company noted the cargo will be priced at 9.3421% of 3 months…

Origin’s LNG revenue dips despite APLNG record production

Rate this article By Adnan Bajic Australia’s power and gas retailer Origin Energy reported a slip in revenue as Australia Pacific LNG boasted record production in FY2020. Courtesy of Origin Energy The company noted its APLNG revenue for the financial year 2020 declined 5 per cent to $2.65 billion from $2.79 billion. The record production…

Red ink for ConocoPhillips on lower oil prices and volumes

Rate this article By Nermina Kulovic ConocoPhillips recorded a $1 billion loss in the second quarter of this year due to lower oil prices and production curtailments amid COVID-19 impact. The post Red ink for ConocoPhillips on lower… … Read Full Article Here For more great articles: Offshore Energy Today

Total logs profit despite COVID-19 effects

Rate this article By Adnan Bajic Total reported a 96 per cent drop in adjusted profit for the second quarter of 2020 due to lower prices and COVID-19 effects. The post Total logs profit despite COVID-19 effects appeared first on… … Read Full Article Here For more great articles: Offshore Energy Today

Novatek logs 40 percent plunge in quarterly profit

Rate this article By Mirza Duran Russian independent LNG producer Novatek reported a 40 percent decline in its second-quarter profit due to the effects related to the Covid-19 pandemic. Image: Novatek Net profit reached 41.6 billion roubles ($572.8 million) in the April-June period, compared to 69.1 billion roubles last year. Revenues also dropped 34.1 percent…

Hess sinks deeper into the red

Rate this article By Nermina Kulovic Hess sank deeper into the red during the second quarter of the year compared to the same period last year as its revenues dipped on lower oil and gas prices. The post Hess sinks deeper into the… … Read Full Article Here For more great articles: Offshore Energy Today