CHK Strikes 15-year U.S. LNG Supply Deal With Gunvor
March 6 (Reuters) - U.S. energy company Chesapeake Energy Corp (CHK.O) said on Monday it would supply a unit of Swiss commodity trader Gunvor Group Ltd with up to 2 million tonnes per annum (MTPA) of U.S. liquefied natural gas (LNG) for a period of 15 years.
Under the deal, the companies will choose a U.S. LNG export plant to liquefy Chesapeake's gas and deliver the LNG to Gunvor with a target start date in 2027.
The purchase price of the LNG will be indexed to the Japan Korea Marker (JKM) , which is a benchmark gas price in Asia.
There will be no rest for investors this week as they await a...
There will be no rest for investors this week as they await a marquee report on the state of the U.S. labor market, along with biannual Congressional testimony from Federal Reserve Chairman Jerome Powell.
Further complicating things, investors will also be watching to see how stocks react to more attractive risk-free returns in the bond market after the yield on the 10-year Treasury note last week temporarily topped the 4% threshold, with many expecting it to climb even further.
Rig counts fell last week in Oklahoma and across the U.S.
Oklahoma and the nation saw another decline in the past week of active oil and gas rigs, according to...
Oklahoma and the nation saw another decline in the past week of active oil and gas rigs, according to figures released by Baker Hughes Co. Oklahoma’s count dropped one to 61 rigs. A year ago, the state had 49 active rigs.
Nationally, the total rig count dropped by 4 to 749. The decline came as the number of oil rigs fell by 8 leaving 592 while the number of gas rigs increased by 3 to 154. The U.S. count is still 99 more than a year ago when there were 650 drilling rigs active. In the past year, the gain included 73 more oil rigs and 24 more gas rigs.
The number of rigs in Texas dropped by 4 to 366 while New Mexico’s count was unchanged at 106 and North Dakota remained at 41. Louisiana rig activity fell by two to 62. Colorado stayed at 17.
Apple’s manufacturing partner, the Taiwanese company Foxconn, has plans to ...
Apple’s manufacturing partner, the Taiwanese company Foxconn, has plans to build a $700 million, 300-acre plant in India. This is one of Foxconn’s biggest investments in the country and is a flashing red signal that China is potentially losing its consumer electronic heavyweight title. The new factory is expected to create 100,000 jobs in the southern Indian state of Karnataka. That’s actually small-ish for Foxconn: The company’s iPhone factory in Zhengzhou, China, employs about 200,000 people.
