COMMENTARY: Venture Global’s $1 Billion Arbitration Loss Gives Booming US LNG Sector Black Eye
(Reuters) – Venture Global’s loss in a massive arbitration case with BP is a black eye for the wider U.S. LNG industry, whose breakneck growth looks set to contribute to…
US Drillers Cut Oil and Gas Rigs for First Time in 6 Weeks, Baker Hughes Says
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating, the first reduction in six weeks, energy services firm Baker Hughes said in…
Record LNG Wave Will Breed Long-Term Demand, Says Adnoc Gas CEO
By A looming surge in liquefied natural gas supply through the end of the decade is poised to create demand that won’t go away, said an Adnoc Gas executive. Prices…
Companies Are Paying Record Sums to Develop Geothermal Energy
Support from the Trump administration, rising energy demand and cheaper drilling methods are boosting lease prices of US public land for geothermal development. By For the first time in years,…
Maersk Cancels $475 Million Contract For US-Bound Offshore Wind Vessel
Seatrium shares drop 6.5% after contract cancellation Maersk cites construction delays Seatrium considers legal action over contract termination Trump administration previously halted Empire Wind project work Oct 10 (Reuters) –…
Trump Tariff Threat Pushes Oil to Five-Month Low
By Brent and WTI crude prices fall to levels last seen in spring Gaza ceasefire shifts focus to potential oil surplus OPEC production increases, U.S. output seen leading glut HOUSTON,…
Exxon Restarts FCCU at Beaumont, Texas, Refinery, Sources Say
By HOUSTON, Oct 10 (Reuters) – Exxon Mobil restarted the gasoline-producing fluidic catalytic cracking unit on Thursday at its 612,000-barrel-per-day Beaumont, Texas, refinery, people familiar with plant operations said. Get…
Oil Prices Edge Down as Risk Premium Fades After Gaza deal
(Reuters) – Oil prices declined on Friday, after settling around 1.6% lower in the previous session, as the market’s risk premium faded after Israel and Hamas agreed to the first…
Venture Global Shares Slide After BP Wins Arbitration Case Over LNG Cargoes
BP, Shell, Edison and Galp had filed arbitration claims accusing the U.S. company of profiteering by selling LNG commissioning cargoes at higher spot market prices, rather than at long-term contracted prices.…
BP Wins Arbitration Case Against Venture Global Over LNG Cargoes
The BP ruling contrasts with a decision in August that saw Venture Global prevail in a similar complaint from Shell. BP is seeking damages of more than $1 billion plus interest,…
