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(Reuters) - China's Sinopec posted a 2.6% rise in net profit for the first half of the year as record oil and gas output compensated for falling domestic demand for refined fuel and petrochemicals. China Petroleum & Chemical Corp., as Sinopec is officially known, reported on Sunday a net income of 37.1 billion yuan ($5.21... Continue Reading →
New Fortress Energy missed second-quarter earnings estimates on Friday after delays in starting up a floating LNG export facility off the coast of Altamira in Mexico. New Fortress stock was down 25% on Friday morning on Nasdaq. The company reported a net loss of $88 million for the quarter and a loss per share of... Continue Reading →
(Reuters) - After reporting a smaller than expected drop in second-quarter net profit, Italian energy group Eni promised to accelerate its share buyback and hinted at the possibility of nudging it up in the coming months. A stronger than anticipated performance at the group's upstream and Gas & LNG divisions supported results, while actions to streamline... Continue Reading →
(Reuters) BP expects oil demand to peak next year and wind and solar capacity to grow rapidly in both of the two main scenarios in its annual Energy Outlook, a study of the evolution of the global energy system to 2050 it published on Wednesday. Carbon emissions, caused predominantly by the burning of fossil fuels,... Continue Reading →
(OE) Shell Trinidad and Tobago, a subsidiary of Shell, has taken Final Investment Decision (FID) on the Manatee project, an undeveloped gas field in the East Coast Marine Area (ECMA) in Trinidad and Tobago. Manatee will allow Shell to competitively grow its Integrated Gas business by building on development efforts in the ECMA, one of... Continue Reading →
(Offshore-energy.biz) Bermuda-headquartered owner and operator of liquefied natural gas (LNG) midstream infrastructure Golar LNG has sealed a deal with Pan American Energy (PAE), a Latin American integrated energy company, for a multi-year use of a floating LNG (FLNG) vessel, which will leverage Argentina’s prolific natural gas resources, positioning the South American country for further LNG... Continue Reading →
(Reuters) A proposed large natural gas project in Guyana by U.S. energy developer Fulcrum LNG includes partnerships with U.S. oil service company Baker Hughes and engineering firm McDermott, the country's vice president said on Thursday. Guyana's President Irfaan Ali last week said Fulcrum LNG had been chosen from among 17 companies to help Guyana develop... Continue Reading →
(Reuters) A newly formed company headed by a former Exxon Mobil executive was selected to support the Guyana government and Exxon to create a new independent natural gas development in the country, Guyana's Ministry of Natural Resources said. Fulcrum LNG offered "the most comprehensive and technically sound proposal" among 17 bidders, the government said in... Continue Reading →
(Reuters) U.S. firm Fulcrum LNG was selected to help Guyana develop a plan to design, finance, construct and operate a natural gas processing facility in the South American country, President Irfaan Ali said on Thursday. The company's proposal was selected from among 17 submitted to Guyana for the gas project. Fulcrum will work with Guyana... Continue Reading →
(Reuters) British oil major BP and Trinidad and Tobago's state energy firm NGC have received a two-year license from the U.S. Treasury Department to negotiate and develop the Cocuina-Manakin gas fields with Venezuela, Trinidad's energy minister said on Wednesday. Washington last month did not renew a broad license that had allowed Venezuela to freely export... Continue Reading →
Brazil Energy Insight 