Commentary: 10 challenges faced by the global LNG market

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We recently looked at the restart of the first Japanese nuclear reactor in four years, and assessed its impact on Japanese oil demand. It was somewhat burying the lede, however, not to address the impact on LNG demand. So with Japan’s developments still fresh in our minds, here are ten challenges faced by the global LNG […]
Student Paul Denetdeale practices at a pipe welding school operated by Fluor, a major construction contractor, Feb. 13, 2014 in Houston. Flour is leading training classes for some workers who will eventually learn the skills they need to do pipe welding. The training classes are critical to shore up the construction labor pool.

(Eric Kayne/For the Chronicle)

Fluor forms joint venture with China offshore giant

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The energy construction and engineering company is teaming up with the state-owned China National Offshore Oil Corp., or CNOOC, and its subsidiary, the Offshore Oil Engineering Co., to form the new COOEC Flour Heavy Industries Co.
(Photo by Andrew Burton/Getty Images)

Oil prices plummet, then recover, after China’s cash injection

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The U.S. benchmark crude on Tuesday morning initially fell by as much as 44 cents, but then it edged back up, rolling 9 cents above its previous settlement, which was the lowest in six years.
(AP Photo/Charles Rex Arbogast, File)

Crude sinks below $42 as Japan’s economy sinks

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U.S. crude fell to a new six-year low Monday after Japan said its economy contracted in the second quarter and more signs emerged that the global oil glut isn’t going away quickly.
Operator Tim Mouton inspects polymer pellets for quality at the LyondellBasell Bayport Polymers Plant, Monday, October 11, 2010 in Pasadena, TX. (Eric Smith/Houston Chronicle)

Extended low oil prices could slow U.S. petrochemical renaissance

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The bountiful ethane that comes from natural gas liquids and U.S. shale production would become more scarce, according to the IHS report. Ethane is used to make ethylene, which which is the main building block for plastics.
In this Thursday, Jan. 28, 2010 file photo, A worker walks past tanks at a Petrochina storage base in Suining, in southwest China's Sichuan province. (AP Photo)

Despite currency collapse, China continuing to hoard crude

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As a glut dragged down benchmark oil prices over the past year, China sought to take advantage of the slump and build a strategic petroleum reserve to stock emergency supplies.
(Fayez Nureldine/AFP/Getty Images)

Saudi Aramco raises Asia crude pricing, leaves light to U.S. unchanged

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Refining margins in Asia have come under pressure in recent months as refiners there increased processing runs and Saudi Arabia increased diesel exports from its new Yasref refinery, a joint venture with China’s Sinopec that reached full capacity in June.
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PetroChina wins dismissal of securities lawsuit in U.S.

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U.S. District Judge Edgardo Ramos in Manhattan dismissed the case, agreeing with China’s largest oil and gas producer that the investors failed to make a plausible argument that PetroChina’s annual reports contained statements that were false or misleading at the time they were made.
A Chinese man holds up oil residue found in his shrimp farm in the coastal Leting county in the Bohai Bay near northern China's Hebei province. China's oceanic agency has ordered ConocoPhillips China to do more to prevent and clean up offshore spills that occurred June 4 and June 17, 2011 in the Bohai Bay that have raised an outcry among fishermen and environmentalists. (AP Photo)

China accepts group’s case against ConocoPhillips, CNOOC

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In June 2011, oil spills from an oilfield jointly owned by Houston-based ConocoPhillips’ Chinese subsidiary and CNOOC, China’s main offshore oil and gas producer, drained into the Bohai Sea and its bay.
In this Thursday, Jan. 28, 2010 file photo, A worker walks past tanks at a Petrochina storage base in Suining, in southwest China's Sichuan province. (AP Photo)

ConocoPhillips halts Sichuan shale gas talks with PetroChina

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While China has sought to replicate the U.S. shale boom, the nation last year cut its 2020 shale gas production target to about a third of its original estimate amid difficult geology, lack of infrastructure and limited exploration rights.