NextDecade, Venezuelan Oil Exports: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

LNG
NextDecade Signs LNG Supply Agreement with China's Guangdong Energy - NextDecade Corporation (NASDAQ:NEXT) (Houston, Texas) will supply liquefied natural gas (LNG) to Chinese power generation company Guangdong Energy Group (Guangzhou) for 20 years under a deal announced on Wednesday. NextDecade said it would supply 1 million metric tons per year of gas to Guangdong Energy from the first train of its Rio Grande LNG export project in Brownsville, Texas, which is expected to start commercial operations as early as 2026. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for a related project report. (Reuters)

CRUDE OIL
Oil Slides on Recession Fears - Oil prices slid about 2% to a 12-week low in volatile trade on Wednesday as investors grew more worried energy demand would take a hit in a potential global recession. Brent futures for September delivery fell $2.08, or 2.0%, to settle at $100.69 a barrel. U.S. West Texas Intermediate (WTI) crude oil fell 97 cents, or 1.0%, to settle at $98.53. Both benchmarks closed at their lowest since April 11. (Reuters)

Resumption of Deliveries to Europe Boosts Venezuela's Oil Exports - The first Venezuelan crude oil cargoes sent to Europe in two years helped lift the OPEC nation's oil exports by 61% last month after a series of setbacks earlier in the year, tanker tracking data and documents from state-run PDVSA showed. In June, PDVSA and its joint ventures shipped an average of 630,500 barrels per day of crude oil and fuel, a 61% increase from the previous month and similar to the same month last year. (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.