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Global Oil & Gas: Venture Global Accused of Reneging on LNG Contracts for Europe

Posted on November 17, 2023November 17, 2023 by Mozambique Resources Post

European oil majors have asked a cross-Atlantic government task force to intervene in a dispute with Venture Global LNG Inc., warning that the US supplier “reneging” on contracts to supply liquefied natural gas threatens Europe’s energy security and undermines the US as a reliable supplier. In separate letters, Shell Plc and BP Plc accuse Venture Global of “misconduct” for withholding fossil-fuel cargo agreed under long-term contracts and instead opting to sell LNG on the spot…

Global Oil & Gas: Oil Unchanged as Market Struggles for Direction

Posted on November 17, 2023November 17, 2023 by Mozambique Resources Post

Oil narrowly held onto a four-day winning streak as investors weighed a mixed supply-and-demand outlook. West Texas Intermediate settled unchanged near $78 a barrel, erasing an equities-led morning rally. The US benchmark has struggled for direction — crossing above its 200-day moving average just one week after breaching it on the way down. Prices earlier tested the 13-day moving average, another key resistance level, before retreating. While oil demand is healthy, according to the International…

Global Markets: The LNG wave is on the way

Posted on January 30, 2019January 30, 2019 by Mozambique Resources Post

Liquefaction ramp-ups and a slowing rate of Chinese demand growth finally deliver the oft-anticipated supply glut.

Industry Analysis: The Impending Endgame In Oil Markets

Posted on November 20, 2018 by Mozambique Resources Post

U.S. president Trump is facing strong internal pressure to punish Saudi Arabia in the coming days.

Markets: OPEC Warns of Threats to Oil Supply

Posted on September 18, 2018 by Mozambique Resources Post

(Bloomberg) — The Organization of Petroleum Exporting Countries is concerned by threats to crude supply from large producers such as Iran, the group’s top official said.

Global Oil & Gas: World’s LNG Giant Is Pumping $20 Billion Into US Oil, Gas

Posted on June 28, 2018 by Mozambique Resources Post

(Bloomberg) — Qatar Petroleum, the world’s biggest seller of liquefied natural gas, is looking to get even larger, investing $20 billion in America’s oil and gas fields at a time when rival U.S. exporters are expanding.

Global Markets: U.S. asks for 1 mb/d from OPEC

Posted on June 6, 2018 by Mozambique Resources Post

According to Bloomberg, the U.S. government has asked Saudi Arabia to boost oil production by 1 million barrels per day.

Africa Oil & Gas: Angola’s Sonangol partners US company to provide services to the oil industry

Posted on April 12, 2018 by Mozambique Resources Post

Tidewater Marine, a US company that owns and operates one of the largest fleets supporting the oil industry, has partnered with Sociedade Nacional de Combustíveis de Angola (Sonangol) to set up an Angolan company under an investment project recently approved by the Angolan government.

Global Markets: Congo set to overtake US as world’s no 4 copper producer

Posted on March 21, 2018 by Mozambique Resources Post

The likes of Glencore, Randgold, Zijin, China Moly and Ivanhoe appear to have been blindsided by Congo’s determination to push through a new mining code that substantially increases the cost of doing business in the central African nation.

Global Markets: IEA Sees US Oil Output Surge Stealing OPEC Share In Next 5 Years

Posted on March 6, 2018 by Mozambique Resources Post

U.S. shale oil output is set to surge over the next five years stealing market share from OPEC producers and moving the United States, once the world’s top oil importer, closer to self sufficiency, the International Energy Agency said on Monday. A landmark deal in 2017 between OPEC and rivals including Russia to curb output to reduce global oversupply materially improved the outlook for other producers as prices rose sharply throughout the year, the IEA…

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