Fugro is working on a large geotechnical site characterization project for Eni offshore northern Mozambique, the company revealed in its latest results statement.
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According to BP’s (NYSE: BP) latest energy outlook, renewable energy and natural gas will together claim 85 percent of the world’s energy supply growth through 2040. The new analysis “brings into sharp focus just how fast the world’s energy systems are changing, and how the dual challenge of more energy with fewer emissions is framing the future,” BP CEO Bob Dudley said.
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The pricing of often decades-long liquefied natural gas (LNG) contracts is becoming more unpredictable as a result of oil price swings.
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ozambique will have to wait until 2023 to achieve economic growth of 7.5%, a rate it was used to in the not too distant past, according to forecasts by the Economist Intelligence Unit (EIU).
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The rise will come mainly from increased production in Egypt’s mammoth Zohr field, North Alexandria gas fields and other projects.
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According to @Verdade reports, faced with Anadarko’s position whether it could only provide domestic gas for Shell’s GTL project in 2030, the CEO of the National Hydrocarbons Company’s (ENH) Omar Mitha explained that it is “seeing with Anadarko how to accelerate the gas supply process for Shell, @Verdade reports.
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A Tampa, Florida based options trading firm, OptionSellers, went dark this weekend after it informed its clients of a “catastrophic loss event,” resulting from a short squeeze on the natural gas market, ZeroHedge reports, citing parts of the letter.
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Natural gas prices skyrocketed this week, shooting above $4.80 per MMBtu on Wednesday, a price last seen during the polar vortex of 2014.
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This week has been the tale of two markets. One being driven lower by a gradual shift in the fundamentals to bearish, the other driven higher by the emergence of a surprise shift in a weather pattern. Crude oil has turned bearish while natural gas is set up for perhaps a test of prices not seen in nearly 4 years later this winter.
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China has recently overtaken Japan to become the world’s biggest importer of natural gas and will likely keep that crown as pipeline and liquefied natural gas (LNG) infrastructure grow, according to an analysis by S&P Global Platts.
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