Oil
Diamondback Energy Warns of Lower Q3 Oil and Gas Prices
Diamondback Energy on Thursday signaled lower prices for its third-quarter oil and gas production, making it the third U.S. shale producer to do so in just a week.
Imperative Chemical Expands with Acquisition of Performance Chemical
Imperative Chemical Partners has acquired Performance Chemical Company (PCC), a Midland-based provider of specialty chemical solutions for midstream and production operators in the oil and gas industry.
FERC Denies Shell Access to Older Commissioning Records in Venture Global LNG Dispute
Shell has lost a bid to have U.S. regulators allow it to view nonpublic commissioning documents related to Venture Global LNG's Calcasieu Pass facility, a setback in a broader dispute over access to cargoes from the plant.
U.S. Broadens Sanctions on Iran’s Oil Sector, Targeting 'Ghost Fleet' of Illicit Tankers
The U.S. has expanded sanctions against Iran's petroleum and petrochemical sectors in response to a missile attack on Israel. The new measures target Iran's 'ghost fleet' of oil tankers involved in illicit oil shipments, aiming to cut off financial resources for Iran’s missile programs and terrorist activities.
PetroChina Exits Role as Committed Shipper on Trans Mountain Pipeline
PetroChina Canada will no longer be a committed shipper on the Trans Mountain oil pipeline after assigning its contracts to another party, the company said in a letter filed with the Canada Energy Regulator, dated Oct. 10.
MOL Refinery Transition to Non-Russian Crude Delayed to 2026
Hungarian oil group MOL expects its refineries to be able to process both Russian and non-Russian crude oils by the end of 2026, a year later than planned as some adjustment projects have been delayed, a senior MOL executive said.
2024 Midstream Winners Honored at Gulf Energy Information Excellence Awards Gala in Houston
The 2024 Gulf Energy Information Excellence Awards was held on Wednesday evening at the Post Oak Hotel in Houston, Texas (U.S.). The black-tie gala recognized the energy industry’s leading innovations and thought leaders.
McDermott Wins EPCI for 155 Miles of Offshore, Onshore Pipelines in Qatar's North Field
The contract covers the EPCI of nearly 250 km (155 miles) of offshore and onshore gas pipelines, connecting five new offshore wellhead platforms to two new onshore LNG trains.
Brazil’s Eneva Launches Gas Exploration, Carbon Storage Search in Parana Basin
Brazilian oil firm Eneva has began an exploratory campaign for natural gas in the Parana Basin that could lead to the firm's entry in the carbon capture market, a director at the firm told Reuters.
Chevron to Sell Assets Worth $6.5 Billion to Canadian Natural Resources
Chevron is selling its assets in Athabasca Oil Sands and Duvernay Shale to Canadian Natural Resources for $6.5 billion, the oil giant said on Monday as it puts in motion its divestiture plan.
OPEC+ Prepared to Offset Iranian Oil Loss, But Broader Disruptions Remain a Concern
OPEC has enough spare oil capacity to compensate for a full loss of Iranian supply if Israel knocks out that country's facilities, but the producer group would struggle if Iran retaliates by hitting installations of its Gulf neighbors.
Goldman Sachs Predicts Brent Price Surge Amid Escalating Iran Tensions
Goldman Sachs said on Friday that it expects its Brent price forecast to peak $10-$20 per barrel in 2025 due to potential disruptions in Iranian production.
Chesapeake, Southwestern Complete $7.4 Billion Merger, Rebrand as Expand Energy
Chesapeake Energy and Southwestern Energy have officially completed their merger, forming a newly rebranded entity, Expand Energy Corp.
Russia Sues Shell Units Over Energy Projects, Court Documents Reveal
Russia's Prosecutor General has filed a lawsuit against a number of energy major Shell's units, court documents showed on Friday.
Enbridge Green Lights $700 Million Pipeline Network Plans for Gulf of Mexico
Enbridge will construct and operate crude oil and natural gas pipelines for BP's Kaskida oil hub in the U.S. Gulf of Mexico, set to start production in 2029. Shell has also announced its final investment decision for the Rome Pipeline, which will transport oil from the project.
Summit Midstream Acquires Tall Oak Midstream for $450 Million
Tall Oak operates a large gas gathering and processing system in the Arkoma Basin, featuring two natural gas processing plants with a total capacity of 220 MMcf/d and 411 miles of gas gathering lines.
Brent Oil Traders Reroute U.S. Cargoes Using Little-Known Rule
Big energy traders are leveraging a little-known rule to reroute U.S. oil shipments meant for Europe, raising concerns about the effectiveness of recent reforms to the Brent crude price benchmark and its reflection of true market demand.
U.S. Buys 6 Million Barrels of Oil for Strategic Petroleum Reserve
The U.S. Department of Energy has purchased 6 million barrels of oil for the Strategic Petroleum Reserve. The oil, sourced from Exxon Mobil, Shell Trading, and Macquarie Commodities, will be delivered monthly to the Bayou Choctaw site starting in February 2025.
Guyana Receives 27 Bids from Energy Giants for Crude Marketing Contract
Guyana has received 27 bids from major energy companies, including Shell and TotalEnergies, for a 12-month contract to market the government’s share of crude oil. The contract will cover exports from key oil projects, with deliveries expected in 1-million-barrel cargoes
From Crude to NGL: Understanding the Complexities of Pipeline Conversions
As Enterprise Products Partners LP expands its footprint in the Permian Basin, the conversion of existing pipelines raises both opportunities and challenges. This article delves into the complexities involved in repurposing energy infrastructure, highlighting technical, economic, and safety considerations amid robust production growth.
TotalEnergies, APA Approve $10.5 Billion Oil, Gas Project in Suriname
The small South American country wants to follow in the footsteps of neighboring Guyana, where a consortium led by Exxon Mobil has discovered more than 11 billion barrels of recoverable oil and gas resources.
Exxon’s $1.28 Billion Asset Sale to Seplat Nears Approval, Says Nigerian President
Nigeria is struggling to raise output of oil, its biggest export earner, mainly due to theft of crude and pipeline vandalism in the Niger Delta, forcing companies like Exxon and Shell to look to deepwater projects for expansion.
Global News October 2024
Stay informed with the latest industry news and developments in the midstream sector. From pipeline projects to regulatory updates and company announcements, P&GJ's Global News column brings you the most important insights from around the world.
TotalEnergies to Showcase Low-Cost Oil Projects, Long-Term LNG Deals to Investors
Fresh off a flight from Suriname, TotalEnergies' CEO is expected to tell investors in New York on Wednesday that the energy giant can maintain returns through 2030 despite falling prices, thanks to low-cost oil projects like its most recent in the South American country.
Editor’s Notebook: TMX Expansion Faces Quality Concerns from West Coast Refiners
For a couple of months now, U.S. West Coast oil refiners have been voicing concerns about some of the attributes of crude oil being shipped along the recently completed Trans Mountain pipeline expansion (TMX) from Canada.
Pemex Oil Production Drops as Lopez Obrador Exits Presidency
Pemex's crude oil production fell by 6% in August, marking a new low, as Mexico's outgoing president Lopez Obrador's energy goals fell short. Despite an increase in refined product output, Pemex continues to rely heavily on fuel imports, particularly gasoline and diesel.
Ground Work on Extension of Mayakan Pipeline Begins
The Federal Electricity Commission (CFE) and Engie Mexico began construction work after signing a new agreement at the end of March for the expansion of the Mayakan Gas Pipeline.
Profile of Regulations on Colorado County Points to Private Property Safeguards
Colorado is among the largest producers of oil and natural gas in the United States, and the bulk of the energy production in the Centennial State is found in one county: Weld County.
P&GJ’s Europe 500 Report of Top Pipelines
The following is a list of some of the longest transportation routes on the continent of Europe as of July 2024. This third such report will be broken down into two sections: gas and liquids (oil and products), which will be updated in each of our September issues going forward.
U.S. FTC Clears Chevron-Hess Deal, Bars John Hess From Board
The U.S. Federal Trade Commission allowed Chevron's $53 billion purchase of Hess Corp. on Monday, in an order that barred Hess CEO John Hess from Chevron's board.
- 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
