Energy giants BP and Shell unveiled sharp downturns in their usual earnings last week in a rocky third quarter for the sector, with the oil and gas industry failing to match last year’s record profits.
LNG trading was a crucial component in oil majors’ Q3 earnings
The United States became the world’s largest natural gas producer in a matter of years.
Despite the falling and flatlining rig count, U.S. crude oil production managed to hit a monthly record-high in August 2023, boosted by productivity gains and more efficient operations.
The refinery began the commissioning process in May this year after running years behind schedule at a cost of US$19 billion, above initial estimates of US$12-14 billion
Earlier this week, reports emerged that Chevron was negotiating LNG deliveries for the European Union, looking at contract terms of 15 years.
The energy giant reported earnings of US$6.2 billion between July and September, up sharply on the previous quarter
BP has set a deadline for completion of the Greater Tortue Ahmeyim (GTA) natural gas project offshore Mauritania and Senegal to Q1 2024, the British energy giant announced on Tuesday during a conference call.
Total Energies has signed an amendment to extend its partnership with Oman LNG for 10 years, the French energy giant announced on Thursday.
Oil prices have been a rollercoaster over the past couple of months as negative catalysts frequently outshine the positive ones and vice-versa. In recent times, fears of a spillover in the conflict between Israel and Hamas, which could embroil Iran and its allies in the region, have offered considerable support to oil prices.