Industry News
Oil & Gas
Top stories summarized by our editors
9/24/2021

The Federal Energy Regulatory Commission has authorized the introduction of feed gas to the sixth liquefaction train at Cheniere Energy's Sabine Pass liquefied natural gas terminal in Louisiana. Train 6 is expected to begin service in the first quarter of 2022, earlier than originally anticipated.

9/24/2021

The natural gas tax included in the budget reconciliation bill and other energy policies that unfairly target the gas and oil industry threaten to raise costs for American consumers and increase the nation's dependence on foreign supplies, argues American Petroleum Institute President and CEO Mike Sommers. "Rather than imposing targeted and punitive taxes on American energy, API supports the federal regulation of methane from new and existing sources, and we're working with the Biden administration and EPA on effective rules to continue reducing emissions without curbing production of the energy our country needs," Sommers writes.

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Sommers
9/24/2021

US oil refiners are looking to Canada, Iraq and Latin America for alternative crude oil supplies amid ongoing disruptions to Mars crude production in the Gulf of Mexico, according to traders and analysts. "Refiners that needed to specifically replace Mars barrels requested sour crude from the SPR," one trader said, adding, "Many others are buying extra cargoes of Basrah for October delivery, whose prices were very convenient as sour crudes in general are under pressure."

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Reuters
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SPR
9/24/2021

Norway's August oil output increased to 1.81 billion barrels per day in August, compared to 1.75 billion in July, reported the Norwegian Petroleum Directorate. Natural gas output decreased to 9.3 billion cubic meters from 9.7 bcm in July.

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Reuters
9/24/2021

Brooge Petroleum and Gas Investment Company has opened a Phase 2 facility near the Port of Fujairah with a capacity of 6.3 million barrels. The region's crown prince, Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, reports this could act as a hub for petroleum storage, making it a strong investment option.

9/24/2021

Suncor Energy Inc. producer Syncrude Canada Ltd. cut September supplies by as much as 20% due to mechanical issues. The disruption occurred at its oil sands site, though the company has not commented publicly on the issue.

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Suncor
9/24/2021

Archaeologists have uncovered footprints in New Mexico that date back as much as 23,000 years, suggesting humans traversed the Americas much earlier than previously believed. The 61 footprints, described in the journal Science, were found near a dry lake bed and hint that humans were trying to avoid the ice that blanketed the area further north.

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Ars Technica
9/24/2021

The Earth's crust is being reformed as ice melts at the poles, a study in Geophysical Research Letters suggests. Researchers say the crust re-forms as the ice above it melts without springing back to a spherical shape, potentially affecting ecosystems for millennia.

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Futurism
9/23/2021

The value of energy products the US exported in 2020 exceeded the value of energy product imports by $27 billion, marking the first time an energy trade surplus has been recorded since at least 1974, according to the Energy Information Administration. The net merchandise trade value of US energy products showed a surplus of $9 billion in the first half of 2021.

9/23/2021

The Calcasieu Pass export facility in Louisiana is almost complete and should begin liquefied natural gas production in the coming months, with the first LNG exports expected in late 2021, Venture Global LNG Chief Commercial Officer Tom Earl announced at the Gastech conference in Dubai. Earl also said initial construction work on Plaquemines LNG, one of the company's other proposed LNG projects in Louisiana, would begin "imminently."

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S&P Global
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Venture Global LNG