Tellurian Lands Another LNG Supply Deal with Vitol
Tellurian Inc. on Thursday said it has signed a sales and purchase agreement (SPA) with Vitol Inc. to supply 3 million metric tons/year (mmty) of liquefied natural gas (LNG) from its proposed Driftwood export terminal in Louisiana.
The announcement came a week after Tellurian announced a similar deal with Gunvor Group Ltd., another leading global commodities trader. The latest SPA appears to bring Driftwood another step closer to reality. No final investment decision has been reached on the project. However, the company is marketing up to 10 mmty to offtakers for the first phase of Driftwood at prices linked to the Japan-Korea Marker (JKM), Dutch Title Transfer Facility (TTF) or on a blended price basis.
Venezuela adjusts as sanctions spur Western oil partners to retreat
Venezuelan state oil company PDVSA is turning to local partners as it seeks to plug the gap left by Western companies in the OPEC nation’s oil sector, according to interviews with a half dozen industry sources, as U.S. companies win a reprieve to maintain a limited presence in the South American country.
U.S. President Joe Biden’s administration on Tuesday extended for six months a measure allowing Chevron Corp, Halliburton Co and others to remain despite sanctions on PDVSA implemented by the Trump administration in 2019 to try to oust President Nicolas Maduro.
Venezuelan state oil company PDVSA is turning to local partners as it seeks to plug the gap left by Western companies in the OPEC nation's oil sector, according to interviews with a half dozen industry sources, as U.S. companies win a reprieve to maintain a limited presence in the South American country.