Business & Markets
PDVSA and Reliance Resume Oil Swap with U.S. Approval, Document Reveals
Venezuela's state oil company PDVSA and India's Reliance Industries have resumed an oil swap that had been paused due to U.S. sanctions on the South American country, an internal PDVSA document seen on Thursday showed.
Oil Prices Rise on Falling U.S. Crude Stocks, Fed's 2025 Rate Plan Caps Gains
Oil prices rose slightly on Thursday, supported by falling U.S. crude inventories, though gains were limited after the U.S. Federal Reserve signaled it would slow the pace of interest rate cuts in 2025, a move that could dampen economic growth, reduce fuel demand, and strengthen the dollar.
Chevron, Woodside Agree to Western Australia LNG Asset Swap
Woodside and Chevron said on Thursday they would streamline oil and gas operations in Western Australia through a stake swap deal, a move resulting in the Australian energy giant exiting the $34 billion Wheatstone LNG project.
North Dakota Oil Facilities Slow to Come Back Online After October Wildfires
Oil operators in North Dakota, the third-largest producing state in the U.S., are still bringing some facilities back online after wildfires swept through key oil-producing counties in October, the state's Industrial Commission said on Wednesday.
Texas Connector Pipeline Seeks Route Cuts, Compressor Upgrades in FERC Filing
Texas Connector Pipeline LLC has filed for approval to amend its Texas project, focusing on changes to routing and compression capacity. The revisions aim to improve the efficiency of the pipeline system in Jefferson and Orange counties, with a decision expected in 2025.
U.S. Keeps LNG Exports Crown, Even as Growth Slows
The U.S. is set to maintain its LNG exports crown in 2024, with shipments climbing to new highs despite challenges like falling export prices and a drop in European demand. As global LNG prices rise, U.S. exporters look to offset losses with increased sales to Asia.
Glass Lewis Backs Martin Midstream's Buyout Deal with Martin Resource
Martin Midstream Partners said on Wednesday that proxy advisory firm Glass Lewis has recommended the energy infrastructure firm's unitholders to vote for the company's proposed buyout deal with Martin Resource Management Corp.
Pacific Northwest Hydrogen Hub Formalizes Agreement with Mitsubishi Hydrogen Infrastructure
The agreement enables MHI H2I’s Boardman Hydrogen Hub project to access federal funding under the U.S. Department of Energy’s (DOE) H2Hubs Program, a major initiative to decarbonize the U.S. energy sector.
U.S. Imposes New Sanctions on Entities Linked to Nord Stream 2 Pipeline
The United States issued fresh sanctions on Wednesday on several Russia-based entities over their involvement in the Nord Stream 2 gas pipeline, the State Department said, including new measures against the operator of the project.
U.S. Natural Gas Prices Rise 2% on Increased LNG Exports, Cold Weather Demand
U.S. natural gas futures climbed about 2% on Wednesday on rising flows to the nation's liquefied natural gas (LNG) export plants and expectations utilities pulled more gas out of storage than usual to heat homes and businesses during extreme cold for a second week in a row last week.
Gazprom Delivers First LNG Cargo to Italy Amid Rising Sea-Borne Exports
Russian energy giant Gazprom has delivered its first cargo of liquefied natural gas (LNG) to Italy from LNG Portovaya plant on the Baltic Sea, LSEG data showed on Wednesday.
EIA: Henry Hub Natural Gas Prices Hit Record Lows in November
The Henry Hub daily natural gas spot price fell to an all-time low of $1.21 per million British thermal units (MMBtu) on Nov. 8 and Nov. 11, in inflation-adjusted dollars, according to the U.S. Energy Information Administration (EIA).
Consumers Energy Plans $248 Million Upgrade to Michigan's Natural Gas System
Consumers Energy has unveiled plans to modernize Michigan's natural gas infrastructure, including replacing up to 10,000 aging service lines and installing remote-control valves on major pipelines to enhance safety and efficiency.
Biden Administration Warns of Risks in LNG Export Expansion, Cites Price and Emissions Concerns
The administration of U.S. President Joe Biden released a long-awaited study on the economic and environmental impacts of liquefied natural gas exports on Tuesday, saying the results underscored the need for a cautious approach to new permits.
Chevron Australia Secures 10-Year Gas Supply Deal with Alcoa
U.S. oil giant Chevron's Australian unit said on Tuesday it would supply a total of 130 petajoules of gas to aluminum producer Alcoa over a 10-year period starting 2028.
ADNOC Gas Names Fatema Al Nuaimi as CEO, Succeeding Ahmed Alebri
Abu Dhabi's ADNOC Gas said on Tuesday that it has appointed Fatema Al Nuaimi as its new CEO, effective Jan. 1, following Ahmed Alebri's decision to step down after nearly two years at the helm.
Slovakia's SPP, Partners Urge Continued Ukraine Gas Transit
Slovakia's main gas buyer SPP said on Tuesday it and other groups from Hungary, Austria and Italy had signed a declaration in support of continued natural gas transit through Ukraine.
Tamboran, APA Group to Develop 23-Mile Sturt Plateau Pipeline in Australia
The 23-mile (37-kilometer) pipeline will connect the planned Sturt Plateau Compression Facility to APA’s existing Amadeus Gas Pipeline, serving as the delivery point for gas volumes under a long-term gas sales agreement (GSA) with the Northern Territory Government.
Russian Gas Transit Deal Will Not Renew in 2025, Says Ukraine PM
Ukrainian Prime Minister Denys Shmyhal said on Monday a deal enabling the transit of Russian gas through his country would not be extended beyond the end of the year, as some European countries stepped up their search for needed supplies.
Argentina’s YPF Creates Partnership for $3 Billion Vaca Muerta Sur Oil Pipeline Project
Argentina's state-run oil company YPF YPFDm.BA formed a new partnership with local oil companies to transport and export oil from its massive Vaca Muerta shale oil formation, the company announced on Monday.
Phillips 66 to Sell $865 Million Stake in 500-Mile Gulf Coast Express Pipeline to ArcLight
Phillips 66 is selling its $865 million stake in the Gulf Coast Express Pipeline to ArcLight Capital Partners, with Kinder Morgan remaining a co-owner. The sale surpasses Phillips 66’s $3 billion divestiture goal, supporting shareholder returns and debt reduction.
India to Install Connecting Pipeline, Supply LNG to Sri Lanka, PM Modi says
India plans to supply liquefied natural gas (LNG) to Sri Lanka's power plants and will work on connecting the power grids of the two countries as well as lay a petroleum pipeline between the neighbors, Indian Prime Minister Narendra Modi said on Monday.
NOG Enters into Joint Venture for 2025 Appalachia Drilling Program
Northern Oil and Gas announced that it has entered a joint development program with one of Appalachia’s most capital efficient operators. The program covers drilling activities in calendar year 2025.
Venture Global Produces First LNG at Plaquemines Plant, Edging Out Competitors
Venture Global LNG has produced its first liquefied natural gas from the Plaquemines plant in Louisiana, marking the first new U.S. LNG production in two years. The plant positions Venture Global as a leader in fast-tracked LNG development, with commissioning extending into 2027.
U.S. Natural Gas Prices Drop 5% From 13-Month High On Rising Output, Mild Weather Forecasts
(Reuters) – U.S. natural gas futures dropped about 5% on Friday from the 13-month high reached in the prior session on forecasts for mostly mild weather through late December and rising supplies as producers keep pulling more gas out of the ground.
Delek Logistics Acquires Gravity Water for $285 Million
This acquisition complements Delek's recent purchase of H2O Midstream and strengthens the company’s crude and produced water gathering and disposal services in the Midland Basin.
Argus Launches Daily Price Assessments for Growing LNG Market in India
Argus has launched the world's first daily price assessments for the growing LNG market on the east coast of India, enhancing transparency in a region where imports and downstream gas infrastructure are undergoing rapid development.
Boardwalk Approves 110-Mile, 1.16 Bcf/d Mississippi Kosci Junction Pipeline Project
Boardwalk Pipelines has approved the 1.16 Bcf/d Kosci Junction Pipeline project, a major investment by its subsidiary Gulf South Pipeline Company LLC. The 110-mile pipeline will expand natural gas capacity to support growing energy needs in Mississippi and the southeastern United States.
PGJ Exclusive (sponsored): How Southern Star revolutionized operations with a one-stop shop asset management upgrade
Southern Star is a key player in the natural gas sector. Overseeing 5,800 miles of pipeline, 43 compressor stations and eight gas porosity storage fields, the company has many assets and work processes to manage and maintain. Read how Southern Star gained a 25% increase in efficiency and optimized time and resources through an upgraded asset management system.
Suncor Projects Higher Crude Output, Lower Spending for 2025
Suncor Energy on Thursday projected higher oil and gas production and lower spending in 2025, as it aims to boost output from its oil sands assets while keeping a tight lid on costs.
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- ONEOK Agrees to Sell Interstate Gas Pipelines to DT Midstream for $1.2 Billion
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Texas Oil Company Challenges $250 Million Insurance Collateral Demand for Pipeline, Offshore Operations
