Delfin Midstream has reached a final investment decision on the first phase of its $5 billion Delfin LNG project offshore Louisiana, advancing the development of the first floating LNG export facility in the United States with a planned capacity of 4.4 million tonnes per year. Backed by investors including BlackRock’s Global Infrastructure Partners, Mitsui O.S.K. Lines, and Vitol, the project is fully permitted and targets first LNG production in 2030, with plans to expand to three FLNG vessels capable of exporting up to 13.2 million tonnes annually.

Oil prices fell on June 4 after Israel and Lebanon announced a ceasefire agreement, easing concerns about potential disruptions to Middle East oil supplies and raising hopes for progress in U.S.-Iran negotiations. Despite the price decline, strong U.S. export activity and an 8-million-barrel drawdown in crude inventories highlighted continued strength in global oil demand.

Venezuela is reportedly planning to require oil and gas companies to generate their own electricity as frequent blackouts and an aging power grid continue to disrupt field operations. The move could create new opportunities for suppliers of generators, turbines, microgrids, and other power infrastructure needed to support future oil production growth.