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(Offshore Energy) The invasion of Ukraine has led to tighter gas supplies, higher prices, and an uncertain outlook, resulting in a downward revision to the International Energy Agency’s forecast for gas demand this year. According to the IEA’s quarterly update from late last week, the world’s demand for natural gas is set to decline slightly in 2022... Continue Reading →
(Reuters) Oilfield services firm Halliburton posted an 85% rise in first-quarter adjusted profit on Tuesday as a rally in crude prices boosted demand for its services and equipment. Crude futures climbed to their highest level in more than a decade during the quarter after a slew of Western sanctions against Russia disrupted oil sales from... Continue Reading →
(OE) After many false starts, the U.S. offshore wind market is building strong roots for a solid future. But as the market develops from its current northeast and mid-Atlantic niche new opportunities and challenges arise. The U.S. offshore wind market has long been seen as not delivering on its significant potential. With an offshore wind... Continue Reading →
(Reuters) - Dealmaking in the U.S. oil and gas industry surged fourfold in value in the first quarter, even as Russia's invasion of Ukraine poured cold water on M&A activity in March, according to consultancy Enverus. Oil producers struck deals worth $14 billion in the first three months, compared with $3.4 billion last year. Of... Continue Reading →
(Reuters) - China's top offshore oil and gas producer CNOOC Ltd. (0883.HK) is preparing to exit its operations in Britain, Canada and the United States, because of concerns in Beijing the assets could become subject to Western sanctions, industry sources said. Ties between China and the West have long been strained by trade and human rights issues... Continue Reading →
(Reuters) - Record volumes of fuel oil from Latin America landed in the United States in March, customs data showed, as refiners snapped up alternatives to Russian feedstocks ahead of Washington's April 22 deadline to end U.S. imports of Russian oil. U.S. Gulf Coast refiners that use fuel oil to supplement heavy crude went hunting... Continue Reading →
(Reuters) - Two U.S. liquefied natural gas (LNG) projects took major steps toward launching this week as Russia's threats to cut energy supplies to Europe drives up demand and prices for the super-chilled fuel. Developers Sempra Energy (SRE.N) and New Fortress Energy Inc (NFE.O) advanced agreements on separate projects, one of which could be producing LNG within 12 months.... Continue Reading →
U.S. President Joe Biden last night announced plans for what is said to be the largest release from the strategic petroleum reserves in American history of 1 million barrels a day for six months to lower gas prices at the pump. In his speech, Biden revealed a two-point plan, which includes immediate action through the... Continue Reading →
Brazil Energy Insight 