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US to contribute 24% of new-build capacity growth to global gas processing industry by 2023, says GlobalData

The US is expected to drive new-build gas processing capacity growth in the global gas processing industry from planned and announced (new-build) projects between 2019 and 2023, contributing around 24% of global gas processing capacity growth by 2023, according to GlobalData, a leading data and analytics company. The company’s report, ‘Global Capacity and Capital Expenditure Outlook for Gas Processing Plants – The US Leads Global Gas Processing Capacity Additions’, reveals that the US is expected to have a new-build gas processing capacity of 16.9 billion cubic feet per day (bcfd) ...

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Asian prices near $6 per mmBtu on higher European gas, oil prices

Asian spot prices for liquefied natural gas (LNG) rose to a more than six-month high this week, tracking gains in the European gas market and as oil prices gained after attacks on Saudi Arabia’s crude oil facilities over the weekend. Spot prices for November delivery to Northeast Asia LNG-AS are estimated to be about $5.80 per million British thermal units (mmBtu), down by 20 cents from last week, said several sources who participate in the market. Spot prices are currently at their highest since March, Reuters data showed. October prices ...

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Conflict In The Middle East – How The Shale Gas Revolution Gives President Trump Room To Maneuver

The recent attack on key Saudi oil installations, allegedly performed by drones, instantly destabilized the energy world. Simultaneously, it highlighted once again the importance of the shale revolution both to the United States economy and American national security. Oil experts believe that 50% of Saudi oil capacity was disrupted by the attack, which was initially blamed on Houthi rebels in Yemen but may have been directed, if not actually carried out, by Iran. That amounts to 5 million barrels of oil a day, and constitutes approximately 5% of the world ...

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Nigerian state oil company says refinery revamps set for January

Full restoration work on all three of Nigeria’s state-owned refineries will begin in January, the Nigerian National Petroleum Corporation (NNPC) said in a statement on Saturday. NNPC chief Mele Kyari said the company “will do everything possible between October and December” to make the projects possible. Restoring state-owned refineries in Port Harcourt, Warri and Kaduna has been a long-sought, but elusive, goal for NNPC. They have operated well under their 445,000 barrel-per-day capacity for years due to neglect, mismanagement and a lack of crude, leaving the oil-producing nation almost entirely ...

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Oman’s refineries output increases 2% in August

The total production of refineries and petroleum companies in the Sultanate rose 2 percent at the end of August 2019, in comparison to figures for the same period of last year, while cars fuel production decreased 9.4 percent according to the National Centre for Statistics and Information. The production of regular gasoline (M91) declined 1 percent, to 9,645,98 barrels and sales decreased 3 percent, to 7,079,5 barrels, as its exports stood at 3,336,2 barrels. The statistics revealed that premium gasoline (M95) rose at the end of August by 14 percent, ...

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Gastech: Permian oil growth could transform US’ second-wave LNG-export market

Permian Basin oil producers could become the driving force behind the US’ second wave of LNG supply. That was the seemingly contrarian wisdom of a panel of chief executives at Gastech, the annual global conference held this week in Houston. Investments in infrastructure and new drilling techniques have seen Permian Basin oil production double since 2017 to over 4.3 million b/d this year, according to data from S&P Global Platts Analytics. Along with oil and liquids, though, producers have been inundated with gas, the price of which actually turned negative ...

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Saudi Arabia tells Japan’s biggest refiner about possible shipment change- Nikkei

Saudi state oil firm Aramco has told Japanese refiner JXTG Nippon Oil & Energy about a possible change in shipment, raising concern about the kingdom’s ability to supply crude oil a week after attacks on its refineries, the Nikkei Asian Review reported. Aramco did not specify a reason for the change in oil grade supplied to Japan’s biggest refiner from light to heavy and medium starting October, Nikkei said s.nikkei.com/2kVAbFR, citing JXTG officials. JXTG officials suspect that Aramco is taking more time than expected to fix its desulfurization facility, which ...

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UK GAS-Prompt prices slip as strong wind power curbs demand

British wholesale gas prices mostly fell on Friday morning as strong output from the country’s wind farms curbed demand for other fuels, leaving the market oversupplied. * The day-ahead contract was down 0.70 pence at 24.00 p/therm by 0850 GMT. * The within-day contract was down 2.30 p at 23.00 p/therm * The weekend contract was down 1.00 p at 23.00 p/therm. * “Low gas for power demand is the main generator of physical oversupply,” analysts at Refinitiv said in a daily research note. * Britain’s gas system was oversupplied ...

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JERA renegotiates LNG contracts to drop destination clause – executive

JERA, the world’s biggest buyer of liquefied natural gas (LNG), has renegotiated some of its contracts with suppliers to drop clauses that restrict where the cargoes can be sold, in a move to gain more flexibility, an executive told Reuters Japan’s Fair Trade Commission (JFTC) in 2017 ruled that destination restrictions that prevent the reselling of contracted LNG cargoes breach competition rules. Since the ruling, Japanese LNG importers have signed new term contracts without the clauses but it is rare that an LNG buyer has confirmed that it was able ...

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Singapore light distillate stocks post sharpest fall in 9 months as gasoline exports rise

Commercial onshore light distillate stocks in Singapore, the region’s largest oil trading hub, posted the sharpest decline in nine months, as healthy regional demand spurred an increase in gasoline exports from the city- state last week. Stocks of light distillates contracted 10.37% week on week to 10 million barrels in the week ended Wednesday, data released late Thursday by Enterprise Singapore showed. This was the sharpest fall in the inventories since the week ended October 7, 2018, when stocks fell 11.08% on the week. Enterprise Singapore’s definition of light distillates ...

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US natural gas in underground storage rises by 84 Bcf: EIA

US working natural gas volumes in underground storage rose 84 Bcf last week, more than most of the market expected, as the NYMEX Henry Hub prompt-month contract and winter strip plummeted following the announcement. Storage inventories increased to 3.103 Tcf for the week ended September 13, the US Energy Information Administration reported Thursday morning. The injection was more than an S&P Global Platts’ survey of analysts calling for a 76 Bcf build. It was at the high end of the survey range as responses spanned from 71 Bcf to 85 ...

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China’s top shale gas field Fuling to pump record 7 bcm in 2020

China’s top shale gas field Fuling in the country’s southwest is expected to pump at a record 7 billion cubic metres (bcm) in 2020, as operator Sinopec Corp is set to add nearly 100 new production wells this year, according to a media report and a Sinopec official. The Fuling field currently has a total of 402 wells in production, pumping 17.755 million cubic metres of gas a day, according to a report published on Thursday on the Wechat platform of state-run Chongqing Oil & Gas Exchange, citing local paper ...

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UK GAS-Prices rise on French power strike, system undersupply

British prompt gas contracts rose on Thursday, pushed up by stronger gas-for-power demand and a drop in French power output due to a strike. * Day-ahead gas rose 1.50 pence to 26.50 pence per therm at 0920 GMT. * Within-day gas was up by 1.90 p/therm at 26.90 p/therm. * The UK gas system was undersupplied by 10.4 million cubic metres (mcm), with demand forecast at 184.7 mcm and supply at 174.3 mcm, National Grid data showed. * Undersupply is due to high gas-for-power demand which is expected to be ...

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Pipeline expansion, trading platform to aid India’s gas demand growth

India’s gas demand will continue to rise over the next few years, aided by pricing and policy reforms undertaken by the government and massive investments planned in pipelines and port infrastructure, the head of India’s oil and gas regulator told S&P Global Platts in an interview. While this would help to cut oil imports to some extent, it would boost LNG imports in the coming years as the pace of domestic gas consumption growth will be at a much faster rate than the rate at which domestic gas production can ...

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China’s Shandong independent refiners keep Aug run rates steady at 60.4%

Combined run rates at China’s independent refineries in eastern Shandong province was more or less stable at around 60.4% in August, compared with 60.2% in July, according to S&P Global Platts calculations based on data from JLC. JLC is a Beijing-based information provider, formerly known as JYD. On a year-on-year basis, it was two percentage points higher from August 2018 of 58%. The slightly higher run rates came mainly from improving refining margins, despite Super Typhoon Lekima halting operations at more than 10 refineries in mid-August. Refining margins for processing ...

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