TotalEnergies, U.S. Crude Oil Stocks: Your Daily Energy News

Energy Market highlights gathered by Industrial Info and IIR Energy

LNG
TotalEnergies Progresses with Papua New Guinea LNG Project - TotalEnergies SE (NYSE:TTE) (Courbevoie, France) announced on Wednesday progress regarding its plans for a liquefied natural gas (LNG) project in Papua New Guinea. TotalEnergies said its Papua LNG joint venture had decided to launch the first phase of front-end engineering and design (FEED) studies for the project's upstream production facilities. Studies for the downstream liquefaction facilities were also progressing in line with the overall project schedule, with an objective of launching the integrated FEED in the fourth quarter of 2022. The project is targeting a final investment decision around the end of 2023. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for the detailed project report. (Reuters)

PIPELINES
NordStream 1 Gas Deliveries Announced for Thursday - Operator Gascade (Kassel, Germany) has announced natural gas deliveries through Nord Stream 1 for Thursday, German media reported, as a scheduled maintenance period on the key pipeline from Russia to Germany comes to an end. The pipeline, which accounts for more than one-third of Russian natural gas exports to the European Union, was halted for 10 days of annual maintenance on July 11. (Reuters)

CRUDE OIL
U.S. Crude Oil Stockpiles Dip - U.S. crude oil stockpiles edged lower last week, but gasoline inventories posted a larger-than-expected build on weakened demand, the Energy Information Administration (EIA) said on Wednesday. Crude oil inventories fell by 446,000 barrels in the week ending July 15 to 426.6 million barrels. U.S. gasoline stocks rose by 3.5 million barrels in the week to 228.4 million barrels. Distillate stockpiles fell by 1.3 million barrels. (Reuters)

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