Song of Oil and LNG

🇬🇧 UK Greenlights $3B Jackdaw Gas Project UK Energy Secretary Miatta Fahnbulleh has approved the Jackdaw gas field, a $3 billion project that had become one of the most closely watched upstream decisions in the UK North Sea. The approval clears a key political…

Middle East oil exports climb back to prewar levels Daily oil shipments from Gulf producers have recovered to 24.6mn, up from 23.3mn before the conflict, with tankers using alternative routes to keep flows moving. The key point is that physical exports are not…

🇸🇦 Brent Hits $114 as Houthi Attacks Threaten Saudi Energy Infrastructure Brent crude reached $114 per barrel as escalating Houthi attacks on Saudi Arabia added a direct geopolitical risk premium to the market. The move was reinforced by supply disruptions in…

🇫🇷 France Secures Qatari LNG for Winter as Gulf Shipping Risk Drives Up Costs France will receive 2 terawatt-hours of LNG per month from Qatar during the winter, President Emmanuel Macron said on Oct. 21 in Doha. The volume is equal to roughly 7% of France’s a…

🇮🇷 Iran's Oil Reserves Run Dry as U.S. Naval Blockade Tightens Iran’s offshore oil stockpiles have nearly vanished as a U.S. naval blockade tightens, according to the report, putting direct pressure on Tehran’s export revenues while prospects for peace remain…

🇨🇦 Shell to take 30% stake in Equinor's Bay du Nord oil project in Canada Equinor and Shell have signed an agreement under which Shell will acquire a 30% interest in the Bay du Nord project offshore Newfoundland and Labrador in Canada, the companies said on Fr…

Natural Gas Sell-Off Masks a Troubling Storage Shortfall November natural gas futures slipped below $2.800/MMBtu even as the underlying balance remains tighter than the screen suggests. The key issue in the latest market setup is a storage shortfall in South C…

🇬🇧 UK clears Jackdaw for startup as first gas nears The UK has granted development and production consent for the Jackdaw gas-condensate field in the North Sea, allowing Adura, the 50/50 Shell UK and Equinor UK joint venture, to begin production within weeks.…