Once upon a time, in the not-so-distant past, the United States was the world’s largest importer of energy, guzzling down foreign oil and gas like a frat boy at a kegger. But the script has since flipped. Thanks to the shale revolution and a penchant for hydraulic fracturing (fracking), the U.S. has transformed from energy junkie to pusher, with liquefied natural gas (LNG) as its hottest commodity.
The United Arab Emirates’ biggest oil company is seeking to buy its first natural gas producing fields in the US to deepen its presence in the country, according to people familiar with the matter.
Total petroleum stocks – including crude oil, total motor gasoline, fuel ethanol, kerosene type jet fuel, distillate fuel oil, residual fuel oil, propane/propylene, and other oils – stood at 1.605 billion barrels on February 21, the report showed. Total petroleum stocks were down 2.2 million barrels week on week and up 16.6 million barrels year on year, the report outlined.
Trinidad and Tobago plans to request an extension from the Trump administration for a US licence allowing Shell and National Gas Company of Trinidad and Tobago Limited (NGC) to develop Venezuela’s Dragon gas project, Reuters reported on Tuesday.
USA Compression Partners LP reported a net income of $25.4 million in the fourth quarter of 2024, doubling the net income reported in the corresponding quarter a year prior. The company noted that its revenues hit a record high in the fourth quarter of 2024, reaching $245.9 million, which compares to $225 million reported in Q3, 2023.
In its February short term energy outlook (STEO), which was released on Tuesday, the U.S. Energy Information Administration (EIA) revealed its latest Brent spot price forecasts for 2025 and 2026.
US pipeline operator Energy Transfer has signed a long-term supply agreement with Denver-based CloudBurst Data Centers under which Energy Transfer will supply up to 450 billion Btu per day of natural gas to CloudBurst’s planned data centre in San Marco, Texas, Energy Transfer announced on Monday.
The fundamental argument for today’s rise in natural gas futures is driven by higher LNG exports and colder weather forecasts, which are expected to boost heating demand.
China is widely expected to stop buying U.S. LNG on the spot market and seek to swap American cargoes from elsewhere after it announced a 15% tariff on U.S. liquefied natural gas in response to the 10% American tariffs across the board.
Canada’s energy exports to the United States surged in the latter part of 2024, helping the country record its biggest surplus with its main trading partner since 2022.