Nigeria could put further downward pressure on crude oil prices, if its resurgent production is sustained and the country resumes exports at full capacity, with a 17-month record high exports expected in August.
Amid a liquefied natural gas (LNG) oversupply in the global market, U.S.’s Cheniere Energy is offering liquefaction capacity for lower prices and shorter terms than previously to attract new customers and finance its expansion.
Despite OPEC and non-OPEC producers’ efforts to drain the supply glut in global oil markets, crude oil prices have tumbled more than 20% this year, making its worst performance for the first six months of the year since 1997.
Oil supermajors ExxonMobil, BP and Shell on Tuesday backed for the first time a price on carbon, supporting the Climate Leadership Council’s proposal of a $40 fee on each ton of carbon dioxide emissions, Kallanish Energy learns.
General Electric announced last week it will merge its GE Power (including natural gas, nuclear and steam power) and energy technologies unit GE Energy Connections to form a single, power-focused subsidiary.
Crude oil prices plunged on Wednesday afternoon more than 3.5%, after the U.S. Energy Information Administration (EIA) disclosed gasoline inventories increased by 2.1 million barrels during the week ended June 9.
Royal Dutch Shell and Qatar Petroleum signed on Tuesday an agreement to develop liquefied natural gas (LNG) marine fueling, also known as bunkering, infrastructure across Europe, the Middle East and East Asia, Kallanish Energy reports.