ConocoPhillips has secured agreements to purchase 2.42 million short tons of liquefied natural gas annually...
ConocoPhillips has secured agreements to purchase 2.42 million short tons of liquefied natural gas annually from Mexico Pacific's Saguaro LNG export facility over 20 years, contingent on a final investment decision for the project. The Saguaro plant will produce LNG from gas sourced from the Permian Basin via a dedicated pipeline and export it primarily to Asia.
Project delays put La. LNG sector's resilience to the test
Regulatory hurdles, financing difficulties and mounting competition have led to setbacks for multiple...
Regulatory hurdles, financing difficulties and mounting competition have led to setbacks for multiple liquefied natural gas export projects planned in Louisiana, raising questions about the industry's future expansion in the state. However, American Petroleum Institute Vice President of Natural Gas Markets Rob Jennings isn't worried about a slowdown, pointing out that five final investment decisions have been made since Russia's invasion of Ukraine.
The energy sector is off to a mixed to higher start, supported by strength in the crude complex and in the major equity futures.U.S. stock index futures turned higher as data showed July job growth in the United States was softer-than-expected, but retained enough momentum to likely shield the economy from a recession amid aggressive tightening by the Federal Reserve.
WTI and Brent crude oil futures are trading higher for the second-straight session after Saudi Arabia and Russia, the world's second and third-largest crude producers, pledged to cut output through September. Following the meeting of an OPEC+ ministerial panel, the group made no changes to the current oil output policy after a Saudi decision to extend its voluntary production cut into September helped oil prices rally further. The group's output cuts, excluding the additional voluntary reductions from the three producers, amount to 3.66 million bpd, roughly 3.6% of global demand. The JMMC will hold its next meeting on Oct. 4.
Natural gas futures are down in early trading,retreating from yesterday’s gains while the NOAA's 6-10 day outlook shows above-normal temps across most of the western and southern US, especially over southeastern NM and western TX.
U.S. adds 187,000 jobs in July and points to slowdown in hiring
The numbers: The U.S. added a more modest 187,000 new jobs in July, perhaps a sign...
The numbers: The U.S. added a more modest 187,000 new jobs in July, perhaps a sign the economy is cooling enough to drive inflation lower and even stave off further increases in interest rates.
Employment growth has fallen below 200,000 two months in a row for the first time since the onset of the pandemic in 2020.
The unemployment rate, meanwhile, dipped to 3.5% from 3.6%, the government said Friday. After the report, stocks rose and bond yields fell.
Kimbell Royalty Partners Announces $14.00 Per Share Public Offering
Kimbell Royalty Partners announced the pricing...
Kimbell Royalty Partners announced the pricing of its public offering of 7.25 million common units representing limited partner interests, according to an Aug. 2 press release.
The public offering price is $14.00 per common unit. The company anticipates total gross proceeds of approximately $101.5 million. Additionally, the underwriters have been given the option to purchase up to 1.087 million more units at the public offering price less the underwriting discount and commissions. The offering is anticipated to close on Aug. 7.
