US
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The drop in US LNG exports comes amid a combination of weak demand, ample supply, additional capacity coming on line, and flexibility to cancel US cargoes.
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Several companies have provided updates on their North American LNG projects, including Pembina, LNG Canada, and Sempra. The outlooks vary from plans to move ahead to others seeking money to stay afloat.
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Approximately $200 billion in projects worldwide are racing to be approved over the next 2 years. The race is not just to make FIDs on projects, but also to enter FEED work to lock in contractors before others do.
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Ranking places US ahead of Saudi Arabia and Russia.
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In the shale oil business, cash flow is a life or death issue. For smaller players, money from investors and lenders is getting harder to find.
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The US has “likely surpassed” Russia as the world’s largest oil producer, according to a US Energy Information Administration report.
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Drilling activity in US shale plays is slowing as operators encounter higher prices for labor, equipment, and services, and lower prices for the oil and gas produced.
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One of the world’s leading energy watchers says the second shale revolution will come in the form of LNG exports.
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Shell has reaffirmed its commitment to the shale business and views it as a growth opportunity moving into the 2020s
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