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Lukoil sees recovery in gas flow in Q1


May 26, 2021 11:35:am
Summary
The growth in gas supply, together with higher oil prices and stronger fuel demand, led to Lukoil s Ebitda more than doubling year on year.
by: Joseph Murphy
Russia s Lukoil produced 5.5% more gas in the first quarter compared with Q1 2020, thanks to a post COVID-19 recov.
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Project spotlight: Rio Grande LNG [Gas in Transition]

From a record number of final investment decisions (FIDs) on new liquefaction capacity in 2019 to almost no approvals in 2020, the ups and downs of the LNG market are weeding out the weak from the strong this year. Nowhere is this more evident than in the Brownsville Ship Canal area of Texas. NextDecade, the developer of the Rio Grande project, is all set to proceed, but still needs to nail down additional offtake agreements to secure finance in an LNG market beset by uncertainty. [Gas in Transition, Volume 1, Issue 1] ....

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Sinopec swings into profit in Q1


Sinopec swings into profit in Q1
Apr 29, 2021 6:25:am
Summary
The Chinese state-owned producer had booked a net loss of 19.15bn yuan in the same period of last year.
by: Shardul Sharma
Posted in:
Sinopec swings into profit in Q1
Chinese state-run Sinopec on April 28 reported a net profit of 18.54bn yuan ($2.9bn) in the three months ending March 31 (Q1) thanks to higher oil and gas prices. It had booked a net loss of 19.15bn yuan in the same period of last year.
In the three-month period, the company’s production of oil and gas reached 117.03mn barrels of oil equivalent, up by 4.2% year/year. Gas output was up 16.8% while oil extraction was down 3.2%. Sinopec s realised oil price in Q1 was up 11.7% yr/yr, while its gas price rose 10%. ....

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