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Exports of LNG from the US have still risen year on year, despite a spate of cargo cancellations over the summer as a result of global oversupply.
Oilfield services giant Schlumberger has reported a $3.4bn net loss for the second quarter of 2020, down from a profit of $492mn in the same quarter a year ago.
US independent Hess has raised its production outlook for the whole of 2020 by 10,000 boepd to about 330,000 boepd.
EQT, the largest natural gas producer in the US, said this week that it had restored all of the output it curtailed in May, and that there had been no degradation in well performance.
Pipeline operator Enbridge has submitted the findings of its investigation into damage to an underwater section of its 540,000 bpd Line 5 pipeline to Michigan state – as well as federal – authorities.
Suncor Energy and Cenovus Energy – two of the four leading producers in Canada’s oil sands – have reported losses for the second quarter of 2020.
The slight weekly increase in the oil rig count was cancelled out by declines in the number of gas rigs, but is nonetheless being welcomed by the industry as a positive sign.
ConocoPhillips’ $375mn purchase of Montney shale acreage comes despite the headwinds that North American shale drillers are currently experiencing.
US infrastructure operator Kinder Morgan has requested regulatory permission to put the seventh liquefaction train into service at the Elba Island LNG export terminal in Georgia.
Last week’s announcement that California Resources was filing for Chapter 11 bankruptcy protection was followed by news this week that Bruin E&P Partners was following suit.
Oilfield services firm Halliburton has reported a $1.7bn loss for the second quarter of 2020, compared with a loss of $1.0bn in the first quarter of this year and a $75mn profit during the same quarter a year ago.
Officials representing the US and India have signed a memorandum of understanding on co-operation relating to emergency crude reserves.
A subsidiary of US-based Okra Energy has announced plans to deliver LNG to a customer in Mexico.
LNG buyers are continuing to cancel cargoes of the super-chilled fuel that are scheduled for loading from the US, but the pace of these cancellations is reported to be slowing.
Gas infrastructure company Williams has received approval from the US Federal Energy Regulatory Commission to proceed with its Leidy South pipeline expansion project.
Output at the Hibernia oil platform offshore Newfoundland and Labrador in Eastern Canada has been temporarily shut down following a spill of drilling and production fluids on July 19.
Chevron has agreed to buy Noble Energy for $5bn in stock in the first major deal of the current oil downturn, but whether this ushers in a new wave of consolidation remains uncertain.
The global pandemic is beginning to sort the weak from the strong, with some oil and gas projects receiving continued support despite the downturn while others are being labelled “wait and see”
British Columbia-based Cryopeak LNG Solutions announced this week that it had signed a memorandum of understanding with marine bulk fuels transporter Island Tug & Barge to provide LNG bunkering services in the Canadian province.
US natural gas production was reported to have risen slightly in the days after TC Energy’s Mountaineer Xpress pipeline was returned to service in West Virginia following unplanned maintenance.
Refiners on the US Gulf Coast are trying to maintain operations and make various moves while battling coronavirus (COVID-19) outbreaks and delays related to the pandemic.
Shale driller Diamondback Energy has scaled back its production forecast for 2020, citing higher-than-expected curtailed volumes in the second quarter of the year, and volatile crude prices.
Natural gas flows to US liquefaction terminals fell to new lows in July, having already registered a 20-month low in June.