NorthAmOil - North America Oil & Gas
US independent producer Hess reported a profit for the first quarter of the year that beat Wall Street estimates amid strong oil prices.
US pipeline operator Enterprise Products Partners has reported a 16% rise in crude pipeline volumes in the first quarter of 2022.
Canada’s Imperial Oil posted net income of CAD1.2bn ($914mn) in the first quarter of 2022 on the back of strong oil and gas prices, representing its highest total in 30 years.
BP revealed this week it intends to double crude output from its Thunder Horse project in the US Gulf of Mexico and also said that it would inaugurate its latest production platform, Argos, before the end of the year.
Swiss-based commodity trader Gunvor is to buy 2mn tonnes per year of LNG from Energy Transfer's proposed Lake Charles LNG export terminal.
US LNG developer NextDecade reached an agreement this week to supply LNG to French utility Engie. The deal signals a change in course for Engie, which had previously backed out of talks over a supply deal with NextDecade.
The EU is softening its stance on long-term LNG supply deals as it urgently seeks alternatives to Russian gas, having previously been more resistant to ongoing commitments to buy fossil fuels.
US super-majors ExxonMobil and Chevron have posted multi-billion-dollar profits for the first quarter of 2022, during which West Texas Intermediate (WTI) crude prices averaged $95 per barrel and briefly rose above $120 per barrel.