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Kinder Morgan’s planned Gulf LNG export plant in Mississippi passes environmental test

Kinder Morgan Inc’s proposed Gulf liquefied natural gas (LNG) export plant in Mississippi took a step toward receiving federal approval for construction on Wednesday after staff at the federal energy regulator prepared an environmental report. Construction and operation of the project would result in some adverse environmental impacts, but those “would be avoided or reduced to less-than-significant levels” if the company follows some recommendations, staff at the Federal Energy Regulatory Commission (FERC) said in the report, known as a final environmental impact statement. The FERC commissioners take the staff’s recommendations ...

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German gas imports rise in first two months of 2019, bill up 12.5pc y/y

Germany imported 0.6 percent more gas in the first two months of 2019 than a year earlier and its import bill rose by 12.5 percent, official data showed. The volume of imports in January and February was 787,934 Terajoules (TJ) or 22.4 billion cubic metres (cbm), according to trade statistics office BAFA. German importers paid 4.5 billion euros ($5.09 billion) for gas during the two months compared with 4.0 billion a year earlier, mirroring a rise in oil prices. Gas, power and carbon traders watch gas imports as possible imbalances ...

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Australia’s Santos sells June Van Gogh crude at high premium -sources

Australia’s Santos has sold a June-loading cargo of heavy sweet Van Gogh crude at more than $9 a barrel above dated Brent, likely the highest premium ever seen for the grade, trade sources said on Thursday. * The buyer for the 400,000-barrel cargo loading on June 24-28 was not immediately known * Another Australian heavy sweet grade, Pyrenees, has also fetched a strong premium at close to $9 a barrel to dated Brent, traders said * BHP may have sold the 600,000-barrel Pyrenees cargo loading on June 22-26 to BP, ...

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Kalmar intermodal solutions – putting you on the fast track to success

The key to success in intermodal operations is maximising capacity and throughput – safely, intelligently, efficiently and optimally. With Kalmar as your partner, you have access to smart services, eco-efficient equipment solutions and support from some of the best minds in the cargo-handling business, helping to get your business on the fast track to success. Intermodal transport has come a long way since its origins in the 1780s, when it meant loading wooden boxes onto barges and then transferring them to horse-drawn wagons. Today, intermodal is part of the mainstream ...

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Gulfport Energy Corporation Provides First Quarter 2019 Production and Pricing and Schedules First Quarter 2019 Financial and Operational Results Conference Call

Gulfport Energy Corporation (NASDAQ: GPOR) (“Gulfport” or the “Company”) provided an update for the quarter ended March 31, 2019. Key information includes the following: • Net production during the first quarter of 2019 averaged 1,263.6 MMcfe per day. • Realized natural gas price for the first quarter of 2019, before the impact of derivatives and including transportation costs, averaged $2.70 per Mcf, a $0.46 per Mcf differential to the average trade month NYMEX settled price. • Realized oil price for the first quarter of 2019, before the impact of derivatives ...

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Investments in Northern Yamal may reach $140 billion to 2050

Yamal’s authorities hope to attract up to 9 trillion rubles ($140 billion) to 2025 for development of the region’s northern area, Governor Dmitry Artyukhov told reporters. “The current tendency is that the production [of oil, gas and gas condensate] shifts to [the region’s] north – the territory, which lacks infrastructures,” he said. “If you look at the region’s southern part, where cities Novy Urengoi, Noyabrsk and Nadym are, it has necessary infrastructures.” “The new zone requires big investments,” he continued. “We expect up to 9 trillion rubles will come to ...

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Russia Sets Sights On Energy Resources Under Arctic Circle

Rosneft (OTCMKTS:ROSN.ME), the state-owned Russian oil giant, has announced plans to actively pursue development of a vast production and transportation network throughout the Arctic. The declaration follows a meeting between its Chairman and CEO Igor Sechin, and President Vladimir Putin. However, the bombast begs the question: is the strategy economically viable, or a bid to bolster Russia’s global energy position regardless of cost? The plan from Rosneft’s perspective is simple: unlock the 1.5 billion tons of oil in Russia’s Far North by developing an “Arctic Cluster” of oil and gas ...

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An Arctic Fight is Raging Between Russia’s Two Biggest Oil Companies

An oil terminal located on the remote Arctic coast of the Nenets Autonomous Okrug is at the center of a court battle between Russian oil majors Lukoil and Rosneft. The Varandey facility is owned by private company Lukoil and used primarily to export its oil from the nearby Nenets tundra. However, since 2016, state-owned Rosneft has controlled two other regional oil fields that also deliver their production to the terminal. The Trebs and Titov oil fields produce about 2 million tons of oil per year and are owned by Bashneft-Polyus, ...

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Permian Activity Is Firing Up But Holding Back Regional Natural Gas Prices

Industry discourse suggests that the Permian Basin is powering U.S. shale oil and gas output. In fact, the hydrocarbon rich basin between western Texas and southeastern New Mexico is rarely out of energy market chatter these days. According to the U.S. Energy Information Administration (EIA), the Permian may experience the biggest boost in production levels in the entire country. It is forecast to climb by 42,000 barrels per day (bpd) to 4.136 million bpd in May. There is little reason to doubt that projection, according to Matt Johnson, National Account ...

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Spain’s Repsol suspends swap deal for Venezuelan oil under U.S. pressure

Spain’s Repsol has suspended its swaps of refined products for crude with Venezuela’s state-run oil company PDVSA, people familiar with the matter said, as U.S. officials weigh penalties for foreign firms doing business with Venezuela. The Spanish oil company has been swapping fuel and waiving payments due from a joint venture with PDVSA in exchange for crude, even as the United States rolled out new sanctions aimed at ousting Venezuela’s socialist President Nicolas Maduro. The arrangement made Repsol one of the OPEC-member nation’s main fuel suppliers, alongside Russia’s Rosneft and ...

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Majors step up to bid on Argentina offshore acreage

Argentina’s first national offshore licensing round was held yesterday, 16 April 2019, in Buenos Aires. Of the 38 blocks offered in an open bid round, 18 were licensed. The round attracted bids from 13 companies, with the winning bids totalling US$718.28 million. All Majors participated in the bidding, aside from Chevron. The acreage is located in the Austral Marine, Western Malvinas and Argentina basins. Commenting on the results, Horacio Cuenca, Research Director at Wood Mackenzie, said: “The Argentinian government designed very competitive terms for this round, acknowledging the frontier nature ...

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India Should Beware of Saudi Aramco’s Billions

It’s funny how friendly someone gets when they’re trying to sell you something. Saudi Arabian Oil Co. is doing its best to make nice with one of its biggest customers. With the ink barely dry on the takeover of 70 percent of the country’s chemical giant Saudi Basic Industries Corp. and the issuance of its first-ever corporate bond, Aramco is looking to buy a stake in the world’s biggest oil refinery. Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. is seeking to sell as much as a quarter of its refining ...

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Cramer: Chevron’s Anadarko merger won’t be the only oil deal this year

CNBC’s Jim Cramer on Wednesday said investors could expect to see more mergers and acquisitions in the energy and oil space in 2019. “Anadarko was the first big oil deal this year, but I bet it won’t be the last, ” the “Mad Money” host said. “That’s why I like Apache, I like Concho, Parsley, and especially Pioneer Nat, because this industry still needs much more consolidation. ” Chevron made a move on Friday to purchase the oil and gas driller in a cash-and-stock deal worth $33 billion. Cramer had ...

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International symposium considers WTO reform for a sustainable world economy

The International Chamber of Commerce (ICC) and the Japan External Trade Organization (JETRO) co-hosted an international symposium on 9 April. Held under the theme: The World Trading System at a Crossroad and WTO Reform for a Sustainable World Economy, the symposium took place in Tokyo and focused on how the global trade system could be reformed to be fit-for-purpose in the 21st century. The symposium drew approximately 150 participants representing businesses, government, academia and others and featured keynote speeches by Akimasa Ishikawa, Parliamentary Vice-Minister of Economy, Trade and Industry, and ...

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SOCAR refinery in Turkey at full capacity in May, adding to Urals shortage -sources

Azerbaijan’s state-owned SOCAR plans to reach full oil refining capacity of 200,000 barrels per day at its Turkish STAR plant in May, three industry sources said, adding to shortages of Russian Urals crude in southern Europe. STAR, SOCAR’s $6 billion Turkish oil refinery launched last year, can process Russia’s flagship Urals blend, Iraqi Kirkuk and similar grades but has only bought Russian crude so far, according to industry sources and Refinitiv Eikon data. “STAR is working in a test mode so far, in April we will supply it with the ...

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