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...The US government has imposed sanctions on companies accused of shipping or trading Russian oil in violation of western rules but is yet to target an individual for involvement....
...Venture Global’s first LNG facility, Calcasieu Pass, located on the Gulf coast in Louisiana, commenced producing LNG in January 2022 and exported its first cargo two months later....
...Barrack also warned that, depending on what the cartel does, the oil market could experience “extraordinary” volatility....
...Privately held Vitol, which employs about 1,800 people, made a record $15.1bn in net profit in 2022 and about $13bn in 2023, making it one of the most profitable companies in the world on a per capita basis...
...He has failed to repeat the company’s feats at Tellurian, his latest venture, which has struggled to get its $25bn Driftwood project in Louisiana off the ground amid rising costs....
...Three regions produce 61 per cent of the country’s natural gas: Appalachia, the Permian and the Haynesville (mostly east Texas and Louisiana)....
...While expanding oil and gas markets is an unequivocal reason of state for Putin, it is not in Washington....
...Oil production in the delta has since generated billions of dollars in revenues for the companies and the government but become increasingly costly for international operators....
...Some local activists in Louisiana and Texas are also protesting against LNG expansion....
...“The environment right now is very positive for the oil and gas industry,” Alan Armstrong, chief executive of Williams, the biggest US gas pipeline company, told the Financial Times....
...Dozens other LNG projects have been proposed, most of them for them around the Texas-Louisiana border....
...Venture Global’s Calcasieu Pass LNG plant, located on the Gulf coast in Louisiana, started producing LNG in January 2022 and exported its first cargo two months later....
...second-busiest port after Shanghai, has benefited “because south-east Asia, and Vietnam in particular, has picked up lots of the ‘China-plus-one’ story”, said Anoop Singh, global head of shipping research at Oil...
...At the COP28 climate conference in December, companies representing about a third of global oil and gas production including ExxonMobil, TotalEnergies, BP and Shell pledged to stop routine flaring of excess...
...ExxonMobil in October announced a $60bn deal to buy Pioneer Natural Resources, the largest oil producer in Texas. Shortly afterwards, Chevron unveiled a $53bn acquisition of US oil company Hess....
...Venture began producing LNG at its Calcasieu Pass plant in Louisiana in 2022 after undergoing rapid construction....
...Many felt let down after the administration gave a greenlight to ConocoPhillips’ Willow oil project on federal land in Alaska last year....
...The company — which will be given a new name at the close of the deal — will combine Chesapeake and Southwestern’s assets in gas-rich Appalachia in the US north-east and the Haynesville Shale basin in Louisiana...
...“More exports equal more reliability and price risk,” said Paul Cicio, president of the Industrial Energy Consumers of America, which represents manufacturing companies....
...In 2017, Restaurant Brands bought Popeye’s Louisiana Kitchen for $1.8bn in cash to get into the chicken sandwich game. And in 2021, Restaurant Brands paid $1bn in cash for Firehouse Subs....
...Even as global temperatures smash through record highs, the oil industry is claiming the world can’t afford the rapid transition from fossil fuels to cleaner energy....
...But he has failed to repeat that performance at Tellurian, which floundered in its push to develop its $25bn Driftwood export project in Louisiana....
...An oil analyst at a US commodities trading house has been dismissed after a video that circulated on social media showed him in a tense exchange with an onlooker as he covered up what appeared to be posters...
...Oil prices should be kept in check despite volatility It has been a bumpy start to the year for oil markets....
...He has previously compared technology to the “new oil” in the US economy....
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