Asian spot prices for liquefied natural gas (LNG) rose this week, as buyers stocked up the power-generating fuel on anticipation that a warmer-than-usual summer will spur demand for air-conditioning units.
Canada's Pieridae Energy Ltd has hired Japanese lender MUFG Bank to help raise $10 billion for its proposed Goldboro liquefied natural gas (LNG) export plant in Nova Scotia, it told Reuters on Thursday.
Phoenix Park increases profitabilty in 2021 1st quarter
NGC chairman Conrad Enill
INDIVIDUALS and institutions that invested in Phoenix Park Gas Processors Ltd (PPGPL) are seeing returns so far this year as the investment vehicle, TTNGL, earned an after-tax profit of $50 million in the first quarter of 2021, said a statement on Friday by the National Gas Company (NGC) which remains the majority shareholder in PPGPL.
The statement was titled, TTNGL profitability for Q1 2021 improves by 622 per cent.
The NGC created the TTNGL to let the public buy shares in Phoenix Park by an initial public offering (IPO) in 2015 and an additional public offering (APO) in 2017.
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RIO DE JANEIRO, May 14 (Reuters) - Asian spot prices for liquefied natural gas (LNG) rose this week on the back of tightened supplies around the world.
The average LNG price for June delivery into Northeast Asia LNG-AS was estimated at about $10.15 per million British thermal units (mmBtu), up $0.50 from the previous week, industry sources said.
The price for July delivery was estimated at about $10.25 per mmBtu, according to traders, almost twice as much February levels ($5.60).
Export issues in Australia, Peru, Indonesia, Malaysia and Nigeria have contributed to a tight global supply at a time when Japan and Korea, among the world’s largest buyers, are keeping LNG demand strong for summer power generation, industry sources said.
Brazil’s Petrobras records Q1 profit
May 14, 2021 4:07:pm
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by: Daniel Graeber
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Brazil’s Petrobras records Q1 profit
Brazilian energy company Petrobras reported May 13 that it returned to profit during the first quarter after a hefty loss during the same period last year.
The company, known formally as Petroleo Brasileiro, reported net income attributable to shareholders of $231mn in Q1 2021, a marked improvement from a $732mn loss recorded during the same period last year, but well below the $5.4bn in Q4 2020 profits.
“The figures show the capacity of our team to deliver sustainable results to our investors and to society, even in a challenging environment,” CEO Joaquim Silva e Luna said. “Petrobras will continue down the path of value generation, with its management based on transparency, dialogue and rationality and with investments concentrated in assets in which we are recognized as global leaders.”