Energy Department approves expanded LNG exports
The Energy Department gave a terminal near Freeport, Tex., permission Friday to ship liquefied natural gas to Japan, providing a new outlet for rising U.S. production of shale gas despite ...
Energy Department approves expanded LNG exports
The Energy Department gave a terminal near Freeport, Tex., permission Friday to ship liquefied natural gas to Japan, providing a new outlet for rising U.S. production of shale gas despite qualms of environmentalists and many domestic manufacturers.
The permit marks another step in the sudden reversal of fortune in the natural gas business. Less than five years ago, anticipating a worsening shortfall in domestic supplies of natural gas, the Freeport terminal on Quintana Island began operations as an import facility.
But advances in hydraulic fracturing techniques have unlocked new supplies of natural gas from shale rock. Freeport, like other import terminals, now wants to spend $10 billion to retool the terminal so it can send gas abroad in liquefied form.
US DOE Approves Second US LNG Export Project to Non-FTA Countries
The US Department of Energy has authorized Freeport LNG Expansion, L.P. and FLNG Liquefaction, LLC (Freeport) to export LNG to so called non-Free Trade Agreement (non-FTA) countries. Subject to environmental review and final regulatory approval, Freeport is conditionally authorized to export up to 1.4 (Bcf/d) for a period of 20 years.
Despite lacking FTA, Japan to get U.S. LNG
NEW YORK – The United States said Friday it will allow exports of domestically produced liquefied natural gas to Japan and other countries to which it is not bound by free-trade agreements, authorizing a plan to deliver shale and other gases from Texas.
WTI Crude Rises on Speculation Growth Will Boost Demand
West Texas Intermediate crude advanced to a one-week high on signals that global economic growth will accelerate, bolstering fuel consumption.
Futures increased 0.9 percent as the Thomson Reuters/University of Michigan preliminary index of consumer sentiment rose to 83.7 in May, higher than any projection in a Bloomberg survey. A government report yesterday showed Japanese gross domestic product grew 3.5 percent at an annualized pace, the most in a year.
Soaring gasoline prices hurt Oklahoma City area retailers
Ballard owns the Varsity Valero and Guzzlers convenience stores in Purcell.
Two years ago, he spent $500 to upgrade his signs so they can display prices above $4. He said he hopes he doesn't have to use them. But with wholesale prices soaring as much as 70 cents a gallon in the past five weeks, there seems to be no end in sight.
Convenience store owners throughout the state are facing the same challenge.
Pemex Makes Third Ultra-Deep Find at Mexico Gulf Maximino Field
Petroleos Mexicanos, the world’s fourth-largest oil producer, made its third ultra-deepwater discovery on the Mexican side of the Perdido basin in the Gulf of Mexico.
Tests at the Maximino field where the crude was found are still being made and volumes are being assessed, Luis Ramos, a strategic planning manager at the Mexican state-owned oil producer’s exploration unit, told reporters in Rio de Janeiro today, declining to give any estimate.
Afghanistan to begin first commercial oil production
Afghanistan expects to begin the first commercial oil production in its history in a little under two months.
The country's mining minister, Wahidullah Shahrani, has told the ABC processing will start at the Amu Darya basin in Afghanistan's north in July.
The project is operated by the China National Petroleum Corporation and is expected to eventually supply Afghanistan with its domestic energy needs so it can stop importing oil.
Afghanistan turns to Australia for mining expertise
Australia could help Afghanistan develop its fledgling mining industry and tap into mineral and energy reserves estimated to be worth trillions of dollars.
The country is eager to find a new source of revenue when international aid starts to decline and foreign forces withdraw next year.
Liberia's Johnson-Sirleaf defends governance record
Sirleaf, a Nobel Peace Prize winner and