Business & Markets

Sudan Repairs Ruptured Oil Pipeline With Goals to Resume June 2024

A Sudan oil pipeline ruptured during fighting in February has been repaired and could resume operation in the next two weeks, a South Sudan oil ministry official said on Tuesday.

Germany, Czech Republic Push EU To Eliminate Russian Oil, Gas Imports

Moscow has slashed gas exports to Europe since invading Ukraine in 2022, and an undersea explosion shut down the Nord Stream pipeline from former top gas supplier Russia to Germany. The EU has rapidly replaced Russian fuel with renewable energy and more gas from other suppliers. But the bloc still got 15% of its gas from Russia last year.

Iraq Calls For Urgent Meeting To Resume Iraq-Turkey Oil Pipeline Exports

Traffic via the Iraq-Turkey oil pipeline (ITP), which once handled about 0.5% of global oil supply has been halted, stuck in legal and financial limbo, since March 2023, and talks to resume the exports have stalled.

Energy Transfer Adds 6,000 Miles of Pipeline with $3.25 Billion WTG Midstream Acquisition

WTG's assets include a 6,000-mile pipeline network that serves the Midland Basin, eight processing plants with a total capacity of 1.3 billion cubic feet per day, and two new plants that are under construction.

Golden Pass LNG Advances Despite Lead Contractor’s Bankruptcy

Golden Pass LNG is advancing its 18-million-tonne-per-year liquefaction project, now 75% complete, with McDermott International Ltd. and Chiyoda International Corp. remaining on the engineering, procurement, and construction (EPC) contract.

India's Robust LNG Imports Are Asia's Standout, But Higher Prices May Weigh

Asia's imports of liquefied natural gas (LNG) are displaying contrasting dynamics in May, with strength in usually price-sensitive buyers like India, but a softer trend in the developed economies such as Japan and South Korea.

Shell, BP, EOG Resources Bid On Oil And Gas Blocks Offshore LNG-Rich Trinidad And Tobago

Trinidad is Latin America's largest producer of liquefied natural gas (LNG), with installed capacity of 15 million metric tons per year of the super-cooled gas. It also is one of the world's biggest exporters of methanol and ammonia, but its plants have been operating below full capacity in recent years due to a lack of gas.

Argentina’s YPF Begins Building Vaca Muerta Oil Pipeline

The initial phase will run from Añelo in Neuquén to Allen in Río Negro, connecting with the Oldelval system, Argentina's largest oil pipeline network. This project aims to enhance the oil transportation system in the Neuquén basin, significantly boosting transport capacity to refineries and the port of Bahía Blanca.

Brazil’s Petrobras To Retain Gas Pipeline Following Landmark CADE Reversal

This decision allows the state-owned oil giant to keep five oil refineries and the Transportadora Brasileira Gasoduto Bolívia-Brasil (TBG) gas pipeline operator, which it had been ordered to sell under a 2019 agreement intended to address its market dominance.

Asian LNG Prices Rise Amid Firm Demand, Geopolitical Concerns

The average LNG price for July delivery into north-east Asia rose to $12.30 per million British thermal units (mmBtu), its highest level since mid-December and up from $10.90/mmBtu in the previous week, industry sources estimated.

Donald Trump Raises ‘Tens Of Millions’ On Promises Of Oil And Gas Pipelines, Fracking Support

Republican presidential candidate Donald Trump raised tens of millions of dollars during a fundraising swing through Texas this week, promising he would support the oil and gas industry by backing new pipelines and restoring fracking on federal land.

Polish, Russian Pipeline Operators Agree On Solution To Keep Oil Flowing To Germany

PERN, Russia's state-controlled Transneft and Germany's PCK Schwedt refinery agreed that a non-Russian company will service the oil flow meters on the Polish part of the Druzhba pipeline, sources in Poland, Germany and Russia said.

ExxonMobil Faces October 2024 Deadline To Develop ‘Large’ Natural Gas Discovery Offshore Guyana

The government has been pressing for a bonanza from mostly untapped gas reserves found by the Exxon-led group. The consortium, which includes Hess Corp and CNOOC Ltd, is required under its production agreement to return to the government by October about 20% of its massive Stabroek block if that area remains undeveloped.

Australia’s Natural Gas Industry Seeks to Restore Investments Following ‘Damaging’ Policies

While most executives at the Australian Energy Producers Conference in Perth were broadly in favour of the Australia Future Gas strategy unveiled by the government this month, they called for immediate action and improvements to the policy to avoid new gas supply shortfalls.

Conduit Power and Riley Permian Expand Partnership for ERCOT Power Sales

Plans include the construction of 100MW natural gas-fueled generation and battery energy storage systems across multiple West Texas facilities, slated for commercial operations by 2025.

XCMG's Advanced Drilling Rig Overcomes Challenges in Serbia's Gas Pipeline Project

XCMG's advanced drilling rig, the XZ3600, triumphs in Serbia's gas pipeline project, conquering tough terrain and hard soil layers with ease.

Spain's Repsol Gets U.S. License to Expand Venezuela Oil, Gas Projects - Sources

Spain's Repsol has received a license from the U.S. Treasury Department authorizing the energy company to continue and expand its oil and gas business in Venezuela, sources close to the decision said on Thursday.

Why the U.S. Gulf Coast is Ideal for Clean Hydrogen Production

The Gulf Coast currently produces 3.5 million tons of hydrogen per year, accounting for a third of all hydrogen produced in the United States. As a major oil and gas region, the Gulf Coast has the largest hydrogen pipeline network in the country, spanning over a thousand miles.

Hess-Chevron Merger Vote Expected to Be Narrowly Approved

Hess Corp. CEO John Hess has until Tuesday to quell a rebellion by shareholders over his handling of what could turn out to be one of the largest mergers in oil industry history: a proposed $53 billion sale of the oil producer to Chevron Corp.

U.S. LNG Export Pause Creates Opportunities for Middle East Producers, Says Woodside CEO

A moratorium on new U.S. LNG export projects could open up opportunities for producers in the Middle East and Russia, but Western sanctions are curbing Moscow's ambitions to expand its global gas trade, a senior industry official said.

OMV Warns Gazprom May Halt Gas Supplies

Austrian oil and gas group OMV said on Wednesday that gas supplies from Russia's Gazprom may be suspended in connection with a foreign court ruling, without identifying the case but assuring the market it would have replacement cover.

Petronas' Bintulu LNG Facility Fully Operational After Power Disruption

Malaysian state-run Petronas said on Thursday its LNG complex in Bintulu was fully restored on Sunday, more than a week after a power loss incident disrupted normal operations.

National Grid to Sell Europe's Largest LNG Terminal

British energy infrastructure operator National Grid said on Thursday it is looking to sell its Grain LNG terminal in Britain, Europe's largest such facility, in a bid to streamline operations.

Canada Amends Trans Mountain Ownership Regulations to Facilitate Pipeline Sale to Indigenous Groups

Canada is amending regulations on how it manages the state-owned Trans Mountain oil pipeline in order to facilitate its sale to Indigenous groups, according to an official government notice published on Wednesday.

U.S. to Close Northeast Gasoline Reserve with 1 Million-Barrel Sale

President Joe Biden's administration will sell nearly 1 million barrels of gasoline in the U.S.-managed stockpile in northeastern states as required by law, the Department of Energy said on Tuesday, effectively closing the near decade-old reserve.

Youth Climate Lawsuit Targets Alaska LNG Project

Eight young Alaska residents sued the state on Wednesday seeking to block a major natural gas project, the latest in a string of climate-change related lawsuits by youths arguing that government policies promoting fossil fuels violate their rights.

Mexican Developer Seeks Permit to Export U.S. Gas for LNG Production

Mexico-based Gato Negro Permitium Uno and partners including Houston-based Big River Energy plan to construct four LNG processing plants in Manzanillo on Mexico's Pacific coast to produce up to 4 MTPA of LNG, the company said.

Mountain Valley Pipeline Expects WV-VA Natural Gas Pipe in Service by Early June

U.S. natural gas pipeline venture Mountain Valley Pipeline pushed back the target in-service date of its long-delayed pipe from West Virginia to Virginia to early June from the prior target of "prior to June 1".

Piñon Midstream Boosts Sour Gas Capacity by 50% in Delaware Basin

Piñon Midstream has announced a significant increase in its sour gas treating capacity and an expansion of its infrastructure in the Delaware Basin.

ADNOC Buys 10% Stake in Mozambique LNG Project

ADNOC has acquired Galp’s 10% interest in the Area 4 concession of Mozambique’s Rovuma basin. This move is part of ADNOC’s strategy to expand its international presence and its lower-carbon LNG portfolio.