Monday, 24 August 2026

43 briefs so farlast update 18:52 UTC

Key points

China Cuts Crude Imports Nearly 50% Since Start of US-Iran War, WSJ Reports.
FCC Broadens Foreign Inverter Ban to Wired Devices, Adds 45X Safe Harbor.
Saudi Power Procurement Company Awards 2,000 MW of Battery Storage to ACWA Power and Engie Consortiums.
Bessent Widens Secondary Sanctions Threat Over Iran Oil Trade.

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US Agencies Have Pledged More Than USD 4 Billion to LNG Since July 2025, Inside Climate News Reports

United States federal agencies have pledged more than USD 4 billion to support American liquefied natural gas (LNG) since July 2025, according to Inside Climate News.

The largest single tranche comes from the U.S. Export-Import Bank, which has announced five LNG deals worth a combined USD 2.7 billion over that period, Inside Climate News reported. The U.S. International Development Finance Corp. has announced an additional USD 1.5 billion in LNG support, according to the same report.

One of the Export-Import Bank transactions targeted the trading side of the market rather than terminal construction. In July 2025, the bank provided USD 360 million in insurance to European banks so they would lend money to trading firm Trafigura for LNG purchases, Inside Climate News reported.

Support also flowed through the U.S. Department of the Interior. The department returned USD 1.2 billion to German energy company RWE, which agreed to acquire a USD 900 million stake in a Louisiana LNG complex that is under construction and looking to expand, according to Inside Climate News.

The production consequences run upstream. The U.S. Energy Information Administration expects gas exports to more than double by 2050, helping push natural gas production potentially 20% to 40% higher than today.

Liquefaction itself consumes a large share of the feedgas. LNG terminals burn 7% to 15% of the methane they buy to convert it into a liquid, according to the Energy Information Administration.

Source: insideclimatenews.org (opens in a new tab)1 sourcePermalink

AI-generated illustration accompanying this article — AI-generated image

16:10 UTCOil & Gas

MODEC FPSO Errea Wittu Arrives in Guyana for ExxonMobil's Stabroek Block

MODEC's floating production, storage and offloading vessel Errea Wittu has arrived in Guyana ahead of deployment at ExxonMobil's project in the Stabroek block, according to Offshore Engineer OEDigital.

The unit was developed for ExxonMobil Guyana and will integrate the development of three resources in the block: Snoek, Mako and Uaru, the outlet reported.

Offshore Engineer OEDigital reported that the FPSO will sit roughly 200 kilometers offshore Guyana in a water depth of 1,690 meters, held in position by a SOFEC Spread Mooring System. Storage capacity on board is around 2 million barrels of crude oil.

MODEC will also handle operations and maintenance services on the vessel for ExxonMobil Guyana, according to the same report.

Source: oedigital.com (opens in a new tab)1 sourcePermalink

16:10 UTCOil & Gas

McDermott Wins ADNOC Contract Worth Over USD 1 Billion for Umm Shaif Gas Project

McDermott has been awarded an engineering, procurement, construction and installation (EPCI) contract from ADNOC valued at over USD 1 billion covering Package 4 of the Umm Shaif Integrated Gas Cap and Surface Pressure Boosting Project, according to Offshore Engineer OEDigital.

The award covers the full EPCI scope for a new surface pressure boosting facility at the Umm Shaif field, delivered by McDermott together with its Qingdao McDermott Wuchuan (QMW) consortium. That scope includes construction and installation of a jacket and topside, plus associated brownfield modifications on existing infrastructure.

Work will be split across two locations. Engineering and project management will be led from McDermott's offices in the United Arab Emirates, while fabrication is assigned to QMW, the company's joint venture fabrication yard in Qingdao, China, Offshore Engineer OEDigital reported.

Once built, the topside will rank among the heaviest offshore modules ever installed in the Middle East, according to the same report.

The contract value places the award above the USD 1 billion mark, a level Offshore Engineer OEDigital reported for Package 4 alone.

Source: oedigital.com (opens in a new tab)1 sourcePermalink

16:10 UTCOil & Gas

Equinor, Aker BP and Vår Energi Form Joint Exploration Push on Norwegian Shelf

Equinor, Aker BP and Vår Energi have set up a strategic exploration collaboration targeting some of the largest remaining oil and gas opportunities on the Norwegian continental shelf (NCS), according to Offshore Engineer OEDigital.

The three companies plan to mature and test a portfolio of roughly 20 to 25 exploration opportunities over the next four to five years, Offshore Engineer OEDigital reported.

The partners frame the work around keeping energy supplies flowing from the NCS to Europe. Output from the shelf is expected to decline after 2035 in the absence of new discoveries and developments, according to Offshore Engineer OEDigital.

The tie-up pools exploration effort among three of the operators active on the Norwegian shelf rather than leaving each to pursue the remaining large prospects alone.

Source: oedigital.com (opens in a new tab)1 sourcePermalink

16:10 UTCOil & Gas

McDermott Wins ADNOC Contract Worth More Than USD 1 Billion for Umm Shaif Pressure Boosting Facility

McDermott has secured an engineering, procurement, construction and installation (EPCI) contract from ADNOC valued at more than USD 1 billion for an offshore pressure boosting facility at the Umm Shaif field in Abu Dhabi, according to World Oil.

The award covers Package 4 of the Umm Shaif Integrated Gas Cap and Surface Pressure Boosting Project, which World Oil reported is designed to maximize gas recovery and lift production from the field.

McDermott will deliver the full EPCI scope alongside its Qingdao McDermott Wuchuan (QMW) consortium, with engineering and project management led from the United Arab Emirates, World Oil reported. Fabrication is set for the QMW joint-venture yard in Qingdao, China.

McDermott said the topside will rank among the heaviest offshore modules ever installed in the Middle East once completed.

Source: worldoil.com (opens in a new tab)1 sourcePermalink