Lng Prices

Home>Topics>Lng Prices
Refine Results
  1. All
  2. Online Articles
  1. Shell records third-quarter earnings of $1.4 billion

    Royal Dutch Shell PLC posted third-quarter current cost of supplies (CCS) earnings of $1.4 billion, up from a loss of $6.1 billion for the same quarter a year ago. Third-quarter CCS earnings excluding identified items were $2.8 billion, up from $2.4 billion for third-quarter 2015 due to increased production volumes mainly from BG PLC assets, lower operating expenses more than offsetting the increase related to the consolidation of BG, and lower well write-offs, Shell says. Those benefits were partly offset by the decline in oil, natural gas, and LNG prices, and increased depreciation mainly resulting from the BG acquisition, and weaker refining industry conditions. Capital investment for the quarter was $7.7 billion, and for the year’s first 9 months was $73 billion, including $52.9 billion related to the acquisition of BG. Organic capital investment for the full year is expected to be $29 billion, including $3 billion in noncash items, some $18 billion below 2014 Shell and BG levels. Capital investment in 2017 is expected to be about $25 billion, which is at the low end of the company’s $25-30 billion range. Companywide oil and gas production for the quarter was 3.595 million boe/d, an increase of 25% compared with third-quarter 2015. The impact of BG on production was an increase of 806,000 boe/d. LNG liquefaction volumes of 7.7 million, of which BG contributed 2.19 million tonnes, were 45% higher than for the same quarter a year ago. Integrated gas, upstream earnings up Earnings from Shell’s integrated gas segment excluding identified items were $931 million compared with $918 million a year ago. Shell says the increase reflects higher LNG and liquids production volumes related to the contribution of BG assets and improved operational performance despite lower feed gas availability as a result of security impacts in Nigeria, and lower well write-offs. Third-quarter integrated gas production was 912,000 boe/d compared with 661,000 boe/d a year ago. Liquids production increased 5% and gas production increased 54% compared with third-quarter 2015. Upstream earnings excluding identified items were $4 million compared with a loss of $582 million a year ago, benefitting from increased production volumes mainly from BG assets and lower taxation. Third-quarter production was 2.683 million boe/d compared with 2.219 million boe/d a year ago. Liquids production increased 25% and natural gas production increased 15% compared with third-quarter 2015 driven by the impact of BG. New field start-ups and the continuing ramp-up of existing fields—particularly Corrib gas field in Ireland, Erha North ph2 in Nigeria, Sabah Gas Kebabangan in Malaysia, and Stones in the US—contributed some 51,000 boe/d to production compared with third-quarter 2015. Downstream earnings excluding identified items were $2.078 billion compared with $2.617 billion for the year-ago quarter, mainly impacted by weaker refining industry conditions, and lower trading margins. Refining and trading earnings excluding identified items were $271 million in the third quarter compared with $1.044 billion for the same period last year. Earnings were impacted by lower realized refining margins, reflecting the weaker global refining industry conditions due to oversupply, and lower trading margins. Chemicals earnings excluding identified items were $542 million in the third quarter compared with $532 million a year earlier. The increase is attributed to lower operating expenses, and stronger base chemicals industry conditions driven by tight supply in the US and Asia and improved operating performance in Europe, the company says.

    Online Articles

    Online Articles

    Tue, 1 Nov 2016

  2. LNG to be marginal source of global supply, BP executive says

    BP PLC’s Global Chief Economist Spencer Dale has forecast that the US Henry Hub will be the benchmark for global LNG prices into the future. He said US LNG will be the marginal source of global supply and therefore LNG prices are likely to be determined by prices at Henry Hub.

    Online Articles

    Online Articles

    Fri, 16 Sep 2016

  3. GlobalData: High Asia-Pacific LNG prices could soon erode

    Although high LNG prices in the Asia-Pacific region are expected to persist in the near term, there are increasing signs they will erode as a result of rising Asia-Pacific LNG production, US exports, and the region’s diversification of energy supplies, according to a forecast from an analyst with ...

    Online Articles

    Online Articles

    Thu, 15 May 2014

  4. Southeast Asia energy security is long-term concern, House panel told

    Southeast Asia’s long-term oil and gas security remains uncertain despite current global supply abundance and low prices, the National Bureau of Asian Research’s Energy Security Program director told a US House Foreign Affairs subcommittee.

    Online Articles

    Online Articles

    Fri, 9 Sep 2016

  1. Shell’s second-quarter, first-half earnings take dive

    Online Articles

    Online Articles

    Thu, 28 Jul 2016

  2. Fitch: Oil drop may slow US LNG, weaken economics

    The recent nearly 50% drop in oil prices may slow the momentum behind the development of US liquefied natural gas (LNG) facilities, according to Fitch Ratings. Oil price declines have weakened global LNG prices and could increase Henry Hub gas pricing, weakening current US LNG project economics.

    Online Articles

    Online Articles

    Mon, 29 Dec 2014

  3. Today’s lower prices don’t doom future US LNG exports, panel says

    Depressed natural gas prices now aren’t likely to affect future US LNG exports much because most projects won’t go into operation until 2020 when global markets have improved, speakers at an Atlantic Council (AC) forum agreed.

    Online Articles

    Online Articles

    Tue, 9 Feb 2016

  4. Petronet tries to renegotiate Gorgon LNG price

    Indian firm Petronet, New Delhi, is reportedly in talks with ExxonMobil Corp. to renegotiate the price of LNG it signed for from the Gorgon-Jansz project on Barrow Island offshore Western Australia.

    Online Articles

    Online Articles

    Wed, 1 Jun 2016

  5. Renewables face off with LNG for share of global power mix

    Competition is growing between renewable-fuelled and liquefied natural gas (LNG)-fired power generation due to the falling costs of renewable technologies, new analysis has found.

    Online Articles

    Online Articles

    Mon, 18 Jan 2016

  6. Wood Mackenzie says China can expect weaker gas demand and oversupply until 2017

    Wood Mckenzie said June 10 that Chinese national oil companies are assessing how best to optimize their diverse supply portfolios as gas demand disappoints, leading to an oversupplied market with weaker prices.

    Online Articles

    Online Articles

    Wed, 10 Jun 2015

  7. Woodside makes takeover bid for Oil Search

    Woodside Petroleum Ltd. has made a nonbinding indicative all-scrip takeover proposal for Papua New Guinea-based explorer and producer Oil Search Ltd.

    Online Articles

    Online Articles

    Tue, 8 Sep 2015

  8. Ophir Energy appoints Golar as midstream partner for floating liquefied natural gas project

    The integrated Ophir/GEPetrol/Golar project is expected to take FID during the first half of 2016 following completion of the upstream FEED study. 

    Online Articles

    Online Articles

    Tue, 5 May 2015

Get More Results