In Kitimat, BC, Canada’s first LNG export terminal rises

In Kitimat, BC, Canada’s first LNG export terminal rises

The LNG Canada industrial energy project is seen under construction in Kitimat, BC, on Sept. 28. The project is now 70 per cent completed.DARRYL DYCK/The Canadian Press The boom is in full swing at a construction site in northern British Columbia, where thousands of workers have poured in to help build an $18-billion terminal to … Read more

Europe Is Buying All The Russian Oil It Can Before Banning It

Europe Is Buying All The Russian Oil It Can Before Banning It

Three months from now, an EU-wide embargo on Russian crude oil imports will kick in, shutting off almost all shipments of the commodity from Russia to Europe. But right now, Europe is importing over 1 million barrels of Russian crude daily and has been doing so for the last month. Someone is stocking up before … Read more

Russia Exported Record Amounts Of Crude In August

Russia Exported Record Amounts Of Crude In August

By Alex Kimani – Aug 31, 2022, 12:00 PM CDT Russia’s war in Ukraine has sparked a wave of sanctions on its energy exports. Despite sanctions and pledges to stop buying Russian crude, the country’s oil output has continued to exceed expectations. Russia’s oil output broke records in August, with Greek tankers playing a big … Read more

Biden Administration Urges Refiners To Curb Fuel Exports

Biden Administration Urges Refiners To Curb Fuel Exports

The Biden Administration is urging American refiners to limit their fuel exports amid multi-year low domestic inventory levels, according to a letter US Energy Secretary Jennifer Granholm sent to seven big refiners obtained by The Wall Street Journal. US fuel exports have been rising in recent months as countries in Europe and some in South … Read more

Climbing Natural Gas Prices Could Force US To Slash Exports To Europe

Climbing Natural Gas Prices Could Force US To Slash Exports To Europe

Natural gas prices in the United States hit the highest in 14 years this week, with the Henry Hub benchmark temporarily topping $10 per million British thermal units. And demand is not going down anytime soon. The United States has emerged as the biggest supplier of natural gas to troubled Europe, as the latter first … Read more

Will Oil Prices Head Higher In 2023?

Will Oil Prices Head Higher In 2023?

Oil prices have consistently traded below $100 per barrel so far in August, weighed down by fears of demand destruction, concerns about looming recessions in Europe and the US, and market apprehension about the economic growth in the world’s top crude oil importer, China. But, absent a deep recession that would sink global oil demand, … Read more

The World’s Biggest LNG Exporter Has A Pipeline Problem

The World’s Biggest LNG Exporter Has A Pipeline Problem

The United States has become the world’s biggest liquefied natural gas (LNG) exporter as deliveries to energy-starved buyers in Europe and Asia have surged. In the current year, five developers have signed over 20 long-term deals to supply more than 30 million metric tons/year of LNG or roughly 4 Bcf/d, to energy-starved buyers in Europe … Read more

What Is Keeping America From Realizing Its LNG Potential?

What Is Keeping America From Realizing Its LNG Potential?

The United States is shipping record volumes of liquefied natural gas (LNG) to Europe to help EU allies in their efforts to fill gas storage ahead of the winter amid growing uncertainty about Russian gas supply. For the first time ever, the European Union imported in June more LNG from the United States than gas … Read more

Soaring Energy Exports Send Russia’s Account Surplus To Record High

Soaring Energy Exports Send Russia’s Account Surplus To Record High

Russia’s account surplus reached a new record for the second quarter, according to data released by the central bank cited by Bloomberg. The surplus, now more than $70 billion, comes on the back of surging oil and gas—and other commodities as well—exports, which outweighed the sanctions placed on the country by Western powers. The surplus … Read more

Canada Posts Biggest Trade Surplus Since 2008 As Oil Prices Soar

Canada Posts Biggest Trade Surplus Since 2008 As Oil Prices Soar

In May, Canada booked its largest trade surplus since August 2008 as the rally in oil prices lifted the share of energy exports of all Canadian exports to a record high, Statistics Canada said on Thursday. Canada’s total merchandise exports increased by 4.1 percent in May compared with April, for a fifth consecutive monthly increase. … Read more