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FILE PHOTO: Qatar Petroleum CEO and Minister of State for Energy Saad al-Kaabi speaks during a news conference in Doha, Qatar June 24, 2019. REUTERS/Naseem Zeitoun
(Reuters) - Qatar Petroleum will announce within a year detailed plans for the second phase of expansion of its North Field South liquefied natural gas (LNG) project, the head of the world’s largest LNG producer said on Tuesday.
The expansion project will add two new LNG processing plants, known as trains, and will be announced by the end of the year or early in 2022, Qatar Petroleum (QP) CEO Saad al-Kaabi told the CERAWeek by IHS Markit conference.
A significant rise in carbon pricing is needed to achieve the goal of limiting the rise in global temperatures to within 1.5 degrees Celsius, according to a report by consultancy Wood Mackenzie.
TransGlobe Energy Corporation Announces Year End 2020 Financial and Operating Results einnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from einnews.com Daily Mail and Mail on Sunday newspapers.
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SINGAPORE (Reuters) - Asian spot liquefied natural gas (LNG) prices rose to a one-month high this week on supply disruption from Russia and buying interest from China and India, several trade sources said.
FILE PHOTO: A vessel carrying liquefied natural gas (LNG) cargo from Russia is seen at Rudong LNG Terminal in Nantong, Jiangsu province, China July 19, 2018. China Daily via REUTERS
The average LNG price for April delivery into Northeast Asia was estimated at about $6.50 per million British thermal units (mmBtu), up about 80 cents from the previous week, sources said.
Prices for cargoes delivered in May were estimated at about $6.55 per mmBtu, they added.
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The Company achieved the netbacks above on sold barrels of oil equivalent for the year ended December 31, 2020 and December 31, 2019 (these figures do not include TransGlobe s Egypt entitlement crude oil held as inventory at December 31, 2020).
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Royalties and taxes are settled at the time of production. Fluctuations in royalty and tax costs per bbl are due to timing differences between the production and sale of the Company s entitlement crude oil.
Netback per barrel in Egypt decreased by 46% in 2020 compared to 2019. The decrease was due to a 35% lower realized oil price, 57% higher selling costs and 29% higher production and operating expenses.
Royalties and taxes as a percentage of revenue were 49% in 2020 (2019 - 64%). Royalties and taxes are settled on a production basis, therefore, the correlation of royalties and taxes to oil sales fluctuates depending on the timing of entitlement oil sales. If sales volumes had been equal to production volumes during the year, royalti