Chevron has officially started production of LNG at the Wheatstone Facility in Western Australia. The first cargo shipping in the coming weeks to customers in Asia. The facility consists of two liquefaction trains with a cumulative capacity of 8.9 Mtpa.
The Hands Free Hectare (HFHa) project at Harper Adams University, the first in the world to plant, tend and harvest a crop with only drones and autonomous vehicles, has come to an end after a successful harvest. Next step is to take over low skilled workers jobs.
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U.S. oil rigs fell gain this week General Electric Co’s Baker Hughes reported. Last week rigs rose for the first time in three weeks last week post maintainence and Harvey disruptions. On a monthly basis rigs fell 9 in September, after declining 7 in August.
Costco Wholesale on Thursday after the close announced better than expected fiscal fourth-quarter earnings, however with a market conerned with a predatory Amazon $COST was down over 5% by market open on net sales missing.
Tropical Storm Nate has already shut in production in the Gulf of Mexico as companies button up and get workers onshore. We saw Exxon evacuate their rigs Thursday along with other energy firms.
Saudi Arabia has been over in Moscow working the room as they say with big deals and OPEC oil cuts the rolling headlines. Of note is the still no fixed date for the Aramaco IPO and no committment from Russia to participate.
TransCanada $TRP said it’s cancelling plans to build a pipeline that would ship 1.1 million barrels of oil per day from Western Canada to the Atlantic coast.
The EIA releases it’s weekly natural gas storage report each Thursday at 10.30 ET, the key data point for natural gas traders outside of weather modelling. This week another build is expected.
BP continues to broaden it’s exposure to natural gas. Wednesday Bp annnounced they will adding six new LNG tankers for more than $1 billion to add to its existing fleet in 2018 and 2019. The tankers will be used to service the Freeport LNG facility among other global destinations.