Chevron Corp is comfortable with buying U.S. liquefied natural gas (LNG) on long-term contracts rather than constructing its own U.S. domestic export facility, said Freeman Shaheen, the company's head of global gas.
Vietnam received its first shipment of liquefied natural gas this month, a milestone for the energy-hungry country, but various hurdles mean it could take years for imported gas to ease the country's long-running power shortages.
Russian oil exports from western ports are set to fall by some 100,000-200,000 barrels per day next month from July levels, a sign Moscow is making good on its pledge for fresh supply cuts in tandem with OPEC leader Saudi Arabia, two sources said on Friday, citing export plans.
Oil demand is set to hit a record high this year and the market is tightening but economic headwinds and interest rate hikes have deflated growth expectations slightly, the International Energy Agency (IEA) said on Thursday.