In this episode of the Energy News Beat Daily Standup, the hosts, Michael Tanner and Stuart Turley discuss key headlines including Adnoc's significant LNG export project in the UAE, the environmental benefits of U.S. LNG shipped to Asia compared to coal, the construction of the largest new U.S. refinery in 50 years by Houston Energy Company, Citibank's forecast of a potential oil price drop to sub-$60, and Matador Resources' $1.9 billion acquisition to enhance its Delaware Basin acreage. They also cover the Federal Reserve's decision to maintain interest rates, a surprising EIA crude oil inventory build, and Berkshire Hathaway's increasing stake in Occidental Petroleum.

Highlights of the Podcast

00:00 - Intro

01:29 - ADNOC Moves Ahead With Huge LNG Export Project in UAE

03:16 - U.S. LNG Shipped to Asia Is Still Cleaner Than Coal

05:15 - Houston energy company to build largest new refinery in half a century

06:39 - Citi Says Oil Could Crash to Sub-$60 Level

10:42 - Markets Update

13:45 - Matador Resources Company Announces Strategic Bolt-On Delaware Basin Acquisition

19:31 - Outro

Please see the links below or articles that we discuss in the podcast.

ADNOC Moves Ahead With Huge LNG Export Project in UAE

June 12, 2024 Mariel Alumit

Abu Dhabi’s national oil company ADNOC has taken the final investment decision to move forward with the Ruwais LNG project, which will more than double the existing LNG production capacity in the United Arab Emirates. […]

U.S. LNG Shipped to Asia Is Still Cleaner Than Coal

June 12, 2024 Mariel Alumit

US LNG shipped to Asia has a lower value-chain emissions footprint than coal-fired power generation, even over long distances. Uncertainties regarding methane emissions and variations in emissions intensity between different sources and types of LNG […]

Houston energy company to build largest new refinery in half a century

June 11, 2024 Mariel Alumit

A Houston company will construct the largest new refinery in the last 50 years in Brownsville, Texas. Element Fuel Holdings LLC is spending between $3 and $4 billion on the project, which will produce more than 160,000 […]

Citi Says Oil Could Crash to Sub-$60 Level

June 12, 2024 Mariel Alumit

Citi analysts have painted a bleak picture for the oil market, forecasting a significant price drop by 2025. According to their latest note, they anticipate a decline to $60 per barrel for Brent crude, marking […]

Matador Resources Company Announces Strategic Bolt-On Delaware Basin Acquisition

June 12, 2024 Mariel Alumit

DALLAS–(BUSINESS WIRE)–Jun. 12, 2024– Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) today announced that a wholly-owned subsidiary of Matador has entered into a definitive agreement to acquire a subsidiary of Ameredev II Parent, LLC (“Ameredev”), including certain […]

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