Recent News
Schlumberger Seeing "Very Favorable" Macro's in 2022 - Oil Demand Expected to Rise Above Pre-Pandemic Levels This Year 1/21/2022
Schlumberger CEO Olivier Le Peuch cited that "Looking ahead into 2022, the industry macro fundamentals are very favorable, due to the combination of projected steady demand recovery, an increasingly tight supply market, and supportive oil prices."
He believes that those dynamics should drive industry capital spending higher this year "with simultaneous double-digit growth in international and North American markets." Pending any further COVID-related issues, oil demand is forecast to exceed pre-pandemic levels before year-end 2022 and then it will ramp further in 2023.
Lastly, he added "These favorable market conditions are strikingly similar to those experienced during the last industry supercycle, suggesting that resurgent global demand-led capital spending will result in an exceptional multiyear growth cycle.
Construction Begins on $2.4B Vietnam LNG Import Project in Hai Lang District 1/18/2022
Vietnam has officially broken ground on the $2.37 billion Hai Lang LNG Power Plant as of January 15, 2022. The project is backed by a consortium that includes T&T Group, Korea Gas Corporation (KOGAS), Hanwha Energy Corporation, and Korea Southern Power (KOSPO).
Full operations are scheduled for 2026-2027, and the terminal will have a 1,500 MW power production capability once online. The terminal can support vessels of up to 226,000 cubic meters, with max LNG receipts of 1.5 Mtpa.
- 1/12/2022 - Archer Daniels Midland Signs LOI to Construct 350-Mile CO2 Steel Trunkline
- 1/6/2022 - New York Funding $500MM for Investment Into Offshore Wind Supply Chain Infrastructure & More
- 1/5/2022 - ExxonMobil Announces Two Additional Discoveries in Guyana
- 1/4/2022 - UGI Corp. Acquiring Stonehenge Appalachia Gas Gathering System for $190MM
- 1/3/2022 - European Union Proposes Classifying Some Nuclear & Gas Generation as "Green Investments"
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Upstream
1/20/2022 - Birchcliff Maintaining Flat Production in 2022, Reducing Debt by $185MM
1/10/2022 - Kazakhstan Gradually Restoring Crude Production Amid Regional Unrest
1/7/2022 - Royal Dutch Shell Prelim 4Q21 Results - Integrated Gas Segment
1/6/2022 - Ranger Oil Corp. Announces 20% Increase to Borrowing Base
12/27/2021 - Petrobras Sells Select Onshore Concessions to Carmo Energy for $1.1 Billion
12/21/2021 - Libya Shuts-In 300 Mbbl/d El Sharara Field Amid Internal Company Protests
12/8/2021 - Cenovus Sets 2022 Capital Budget at $2.6-$3.0 Billion; Rises 12% Y/Y
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Midstream
1/18/2022 - Harvest Midstream Acquiring Arrowhead ST Holdings in Eagle Ford
1/10/2022 - Marathon's Capline Reversal Entered Full Service on January 1, 2022
1/3/2022 - Southwest Gas Holdings Completes Purchase of Questar Pipeline from Dominion
12/1/2021 - Michigan Abandons Federal Lawsuit Against Line 5 Pipeline, Focusing on Separate Case Against Pipe
11/30/2021 - Germany Reportedly Urging U.S. Congress Against Sanctioning Nord Stream 2
11/23/2021 - Spire Expecting FERC Action on Spire STL Pipeline Before December 13, 2021
11/18/2021 - Magellan Midstream Commences Open Season on Potential Refined Products Pipe Expansion from Kansas-to-Colorado
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LNG
1/20/2022 - Excelerate Energy Files Registration Statement for IPO
1/19/2022 - Commonwealth LNG Signs Heads of Agreement to Sell 2 Mtpa to Woodside Petroleum
1/18/2022 - Texas LNG Executes Pipelines Transport Precedent Agreement for Valley Crossing Pipeline Expansion
1/7/2022 - LNG Alliance Partners w/ Karnataka to Develop Major 4 Mtpa LNG Terminal
12/22/2021 - New Fortress Energy Signs MoU with Mauritania to Develop Fast LNG and Gas to Power Project
12/10/2021 - Eagle LNG Signs Long-Term Supply Contract to Support Planned LNG Import Terminal in Aruba w/ WEB Aruba
12/9/2021 - Pembina & Haisla Nation Progressing on Early FEED Work for Cedar LNG Project
Current Research
Natural Gas
- Natural Gas Storage Update - 1/21/2022
- Natural Gas Highlights - 1/21/2022
- Daily Energy News (free) - 1/21/2022
- LNG Export Report - 1/21/2022
- Southeast Pipeline Flow Analysis - 1/21/2022
- Northeast Pipeline Flow Analysis - 1/21/2022
- Midwest Pipeline Flow Analysis - 1/21/2022
- South Central Pipeline Flow Analysis - 1/21/2022
- West & Rockies Pipeline Flow Analysis - 1/21/2022
- Fundamental Natural Gas Report - 1/21/2022
- Early Look Natural Gas Updates - 1/21/2022
- LNG Monthly Project Updates - 1/20/2022
- European Daily Gas Storage Report - 1/20/2022
- European Daily LNG Import Storage Report - 1/20/2022
- Bi-Weekly Midstream Project Updates - 1/18/2022
- Criterion Research Industry Alerts - 1/12/2022
Crude Oil
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Crude Oil Highlights - 1/21/2022
Power
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Daily EIA Power Stack Report - 1/21/2022
Criterion's News Feed
- Tallgrass Developing Commercial-Scale CO2 Sequestration Facility in Wyoming - 1/21/2022
- Frontera Announces Notable Discovery in First Operated Ecuador Wellbore - 1/21/2022
- Chevron & TotalEnergies Withdraw from Myanmar Following "Worsening Humanitarian Situation" - 1/21/2022
- Lundin Energy Revises Year-End 2021 2P Reserves +39 Mmboe to 639 MMboe - 1/21/2022
- Sinopec Issues Tenders to Sell 45 LNG Cargoes in 2022 - 1/21/2022
- Baker Hughes CEO Lorenzo Simonelli Sees "Relatively Tight Supplies" for Oil & Gas in 2022 - 1/21/2022
- Baker Hughes Increases 4Q21 Revenues +8% Q/Q and Orders +24% Q/Q - 1/21/2022
- Shell Completes Sale of Deer Park Refinery to Pemex - 1/21/2022
- Exxon & SABIC Commence Operations at Gulf Coast PetChem Complex - 1/21/2022
- Schlumberger Seeing "Very Favorable" Macro's in 2022 - Oil Demand Expected to Rise Above Pre-Pandemic Levels This Year - 1/21/2022
- Schlumberger Reports 4Q21 Sequential International Revenue Growth of +5% - 1/21/2022
- Schlumberger Reports 4Q21 Sequential North American Revenue Growth of +13% - 1/21/2022
- Blackstone Invests $3 Billion Into Invenergy Renewables Holdings - 1/21/2022
- MidAmerican Energy Proposes $3.9B Wind & Solar Project for Iowa - 1/20/2022
- Excelerate Energy Files Registration Statement for IPO - 1/20/2022