OPEC, for some quiet moments..

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Golar LNG Limited and Schlumberger have announced the creation of OneLNG, a joint venture to rapidly develop low-cost gas reserves to LNG. The combination of Schlumberger reservoir knowledge, wellbore technologies and production management capabilities, with Golar’s low-cost FLNG solution, will offer gas resource owners a faster and lower cost development thereby increasing the net present value of the resources.

Golar, Schlumberger target stranded gas with new joint venture

Gear up for a fall in oil prices. The global oil market is "severely oversupplied" with gasoline—with stocks at a five-year high—serving as a blow to crude prices from next month, reckon Morgan Stanley analysts led by Adam Longson.

Refinery-driven oil price correction is upon us, Morgan Stanley says

State-owned oil marketing companies have since May distributed 1.8 million liquefied petroleum gas connections under a new program targeting the extremely poor, according to official estimates. The government’s aim overall is to increase penetration to 80 percent, adding 100 million connections, over three years, according to Y.K. Gupta, an executive director at Indian Oil Corp., India’s largest fuel retailer. The renewed focus on safer cooking options will drive LPG use up from records as the government tries to reduce the more than 900,000 premature deaths the Institute for Health Metrics and Evaluation attributed to household air pollution in 2013. It will also make India more import dependent and strain infrastructure... Indian Oil’s Gupta estimates the nation will build up to 7.5 million tons of new LPG import terminals over five years, including a 2-million-ton terminal at Paradip and two at Haldia on the east coast. The Kandala terminal on the west coast has been recommissioned while a number of smaller ones are being revived, he said. The three state oil marketing companies are also adding 10,000 new distributorships and 15 new bottling plants.

Saving 900,000 Lives Drives India’s Spending on Cleaner Fuel - Bloomberg

Another challenge to future LNG growth comes from Japan, where regulators are considering altering existing rules and allowing LNG shipments to be re-sold, potentially under-cutting producers and putting downward pressure on prices. Such a move would disrupt existing contractual relations and potentially sever the link between LNG and crude prices. Existing restrictions on re-sale essentially force importers to consume whatever LNG they import; dropping these restrictions would allow importers to essentially become LNG merchants themselves, re-selling unwanted or unused LNG to other customers.

Major LNG Projects On the Rocks As Competition Escalates | OilPrice.com