• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 5 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 min How Far Have We Really Gotten With Alternative Energy
  • 2 hours If hydrogen is the answer, you're asking the wrong question
  • 3 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 5 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 15 hours Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 4 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
Aramco Boosts Dividends, But it Can Ill-Afford to Do So

Aramco Boosts Dividends, But it Can Ill-Afford to Do So

Despite experiencing a significant decline…

Editorial Dept

Editorial Dept

More Info

Premium Content

The U.S. Has Become A Net Oil Exporter

Friday June 28, 2019

1. Africa the new hot spot for LNG

- Greenfield investment in LNG could hit a record high this year, and Africa will surprisingly lead the way.

- Investment will top $103 billion this year, according to Rystad Energy, and Mozambique stands out as a hot spot. “Last week’s final investment decision by Anadarko for its Area 1 LNG project marks the beginning of a new phase for not only Mozambique and the African continent, but for the industry as a whole,” Pranav Joshi, analyst on Rystad Energy’s Upstream team, said in a June 27 statement.

- Anadarko’s project could see more than $15 billion in investment, on par with some of the largest LNG investments worldwide.

- At the same time, ExxonMobil (NYSE: XOM) is expected to give the go-ahead for another LNG export project in Mozambique later this year, perhaps adding another $14.7 billion in investment.

- Taken together, Mozambique is about to leap into an exclusive category of major LNG exporters.

2. U.S. becomes net oil exporter

- The U.S. exported a record high 3.8 million barrels per day last week, pushing the total trade balance into positive territory.

- “Because net exports of refined products were higher than net crude oil imports, the US was also a net oil exporter last week,” Commerzbank said in a note. “Thus US President Trump’s latest remark that the US is not really reliant on…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News