ConocoPhillips, Cheniere Energy: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

NATURAL GAS
U.S. Utilities Add Gas to Storage - The U.S. Energy Information Administration (EIA) said utilities added 41 billion cubic feet of natural gas to storage in the week ending July 29. "The EIA storage report was much more bearish than most were anticipating. If more gas is headed to storage, then more will be available in winter, which pushes prices downwards," said John Abeln, an analyst with data provider Refinitiv. (Reuters)

EARNINGS REPORTS
Cheniere Reports Quarterly Profit on Strong LNG Demand - Cheniere Energy Incorporated (Houston, Texas), the largest U.S. liquefied natural gas (LNG) exporter, on Thursday reported second-quarter profit of $741 million, compared with a loss of $329 million a year earlier. It raised its full-year earnings outlook for a second time this year to adjusted earnings of between $9.8 billion and $10.3 billion, up from guidance of $7 billion to $7.5 billion earlier in the year. The company has seen strong demand for LNG since Russia launched its invasion of Ukraine and European countries attempt to wean themselves from Russian gas. (Reuters)

PRODUCTION
ConocoPhillips Forecasts Single-Digit Production Growth This Year - ConocoPhillips (NYSE:COP) (Houston, Texas) on Wednesday said its full year oil and gas production could rise at a low-single digit percentage rate over last year. The company projected third-quarter output of between 1.7 million and 1.76 million barrels of oil equivalent per day (boe/d), up from 1.69 million boe/d in the prior quarter. It lowered full-year production guidance to about 1.74 million boe/d. (Reuters)

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About Industrial Info
Industrial Info Resources (IIR) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.