IHS CERAWeek: US ‘revolutionizing’ growing global LNG market, speaker says

A decade after forecasts of increased construction of LNG import terminals in the US, the nation’s first LNG export cargo departed Sabine Pass, La., this week for Brazil. The event overlapped with a Feb. 24 gathering of leaders from the natural gas sphere at IHS CERAWeek in Houston. Source: News

EOG cuts 2016 capex in half

EOG Resources Inc., Houston, reported planned capital expenditures for 2016 of $2.4-2.6 billion, a 45-50% year-over-year reduction. Source: News

Encana further reduces 2016 budget by 40%, workforce by 20%

Encana Corp., Calgary, will further cut its planned capital budget for 2016 to $900 million-$1 billion, down 40% from its initial budget for the year and 55% from its 2015 capital investment. Source: News

Bill would loosen Petrobras’s presalt grip

Domination by state-owned Petroleo Brasileiro SA (Petrobras) of presalt licenses offshore Brazil would cease under legislation approved Feb. 24 by the Brazilian Senate. Source: News

Braskem’s Triunfo petrochemical unit due upgrade

Braskem SA, a subsidiary of Odebrecht SA, will invest 45 million Brazilian real ($11.3 million) to upgrade electrical systems at its basic petrochemical unit 2 (Unib 2) in the Triunfo petrochemical complex in Brazil’s Rio Grande do Sul state. Source: News