GLOBAL LNG-Spot prices decline as deals emerge

Asian spot liquefied natural gas (LNG) prices continued correcting lower with potentially steeper dips expected ahead amid thin demand from China and India and healthy supply. Recent tender deals seemingly confirmed the bearish tone. Spot prices for August LNG-AS delivery in Asia were assessed at $10 per million British thermal units (Btu), down 10 cents
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OPEC and its allies could boost oil production by more than the 1 million barrels a day agreed last month if needed, Russia’s Energy Minister Alexander Novak said. “I can’t rule out that if there is a need for more than 1 million barrels we will be able to quickly discuss it all together and
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The Joint Ministerial Monitoring Committee overseeing the OPEC/non-OPEC supply agreement will no longer track individual country compliance with quotas, as the deal has now shifted to a collective production ceiling, Saudi energy minister Khalid al-Falih has told the other members. Falih, who chairs the JMMC, said the entire coalition’s compliance with the ceiling will continue
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Bunker fuel sales in Singapore in June rose 2.2% year on year to 3.92 million mt, preliminary data released Friday by the Maritime and Port Authority of Singapore showed. June sales were however, down 8.4% from 4.28 million mt in May. Sales in June are also at a one-year low. Singapore bunker sales were last
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French energy giant Total has closed the acquisition of Engie’s portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of USD 1.5 billion. Additional payments of up to USD 550 million could be payable by Total in case of an improvement in the oil markets in the coming years. This portfolio
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When Russian President Vladimir Putin meets Donald Trump next week, he’ll be armed to discuss oil production following the U.S. leader’s series of tweets targeting OPEC, according to people familiar with preparations for the summit. The Kremlin sees Trump as likely to raise the issue of adding crude supplies to the market in a bid
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OPEC President Suhail al-Mazrouei said that volatility in the crude market was undesirable and OPEC prefers a more stable price environment, speaking after crude had its biggest one-day drop in two years. The Organization of the Petroleum Exporting Countries and other large producers are working on a long-term plan to build spare capacity that would
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U.S. crude oil exports to India hit a record in June and so far this year are almost double last year’s total as the Asian nation’s refiners move to replace supplies from Iran and Venezuela in a win for the Trump administration. U.S. President Donald Trump’s administration has been pressuring its allies to cut imports
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Since our last report, OPEC oil ministers and ten non-OPEC oil ministers have met and agreed to achieve 100% compliance with the Vienna Agreement (i.e. they will increase production). What this means in terms of volume and timing remains to be seen as the official communique contained little detail, but there are already indications from
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Boskalis Nederland and biofuel supplier GoodFuels have announced a long-term partnership aimed at furthering Boskalis’ sustainable practices. Reducing CO2 emissions is one of Boskalis’ long-term objectives. A 35% reduction in the CO2 emitted by the fleet and equipment in the Netherlands will be an important step towards achieving this ambition. Market makers Since the very
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