Business & Markets
BASF Considers Sale of Wintershall Dea
Last week, German chemicals group BASF announced that it was working to exit energy business Wintershall Dea, with a stock market listing remaining the preferred option.
US Confiscates Iran Oil Cargo on Tanker Amid Tehran Tensions
The U.S. confiscated Iranian oil on a tanker at sea in recent days in a sanction’s enforcement operation, three sources said, and days later Iran seized another oil-laden tanker in retaliation, according to a maritime security firm.
Louisiana's Carbon Well Permitting Application Heads to Federal Register
Louisiana's application to obtain enforcement authority over carbon capture wells has gone to the Federal Register for public comment, the Environmental Protection Agency said on Friday, a key step in receiving "so-called" primacy and speeding up the permitting process.
Chemours, TC Energy Partner to Develop Clean Hydrogen Facilities in West Virginia
Chemical maker Chemours Co. said it has partnered with pipeline operator TC Energy Corp. to develop two clean hydrogen production facilities in West Virginia.
Shell's Zydeco Pipeline Shut on April 25 After Oil Leak
Shell Pipeline Co.'s Zydeco oil pipeline — which alleviates transportation bottlenecks of crude arriving in Houston from the Eagle Ford, Permian and Bakken regions — was shut on April 25 after a limited release of crude oil was detected in the Intracoastal Waterway.
US Venture Global Signs 20-Year LNG Supply Deal with Japan's JERA
U.S. company Venture Global LNG announced a deal to supply LNG to Japan's JERA for 20 years, where it agreed to sell 1 MTPA of LNG to JERA, Japan's biggest power generator and one of the world's biggest LNG buyers, from its CP2 LNG project.
RWE Says It Has No Interest in Operating LNG Infrastructure Long-Term
Germany's RWE said on Friday it had no interest in operating infrastructure for importing LNG in the long run, responding to a report saying it wanted to pull out of a controversial LNG project in the Baltic Sea.
Italy's Energy Dome Raises $44 Million to Focus on CO2 Storage in US
Energy Dome, an Italian startup focusing on CO2 energy storage solutions, said on Friday it had raised 40 million euros ($44 million) from investors to fund expansion in the U.S.
Norway Plans to Nationalize Gas Pipelines When Concessions Expire
Norway plans to nationalize most of its gas pipeline network when many existing concessions expire in 2028, the oil and energy ministry said on Friday, to tighten control over key infrastructure.
Xcel Energy Assessing Hydrogen Blending for Its US Gas Pipelines
(P&GJ) — Xcel Energy has contracted for a study of the feasibility of injecting and blending hydrogen into its 36,000 miles (57,936 km) of distribution and 2,200 miles (3,540 km) of transmission pipelines.
Hess, Exxon Make New Oil Discovery in Guyana’s Stabroek Block
The discovery on the group's Stabroek Block is the latest of more than 30 in the South American country's offshore waters since 2015. Hess holds a 30% stake in the consortium and said the discovery may help justify a new oil project.
TotalEnergies Says Mozambique LNG Restart Complicated by Cost Disagreements
The restart of TotalEnergies' $20 billion Mozambique LNG project is being complicated by disagreements with contractors over extra costs, the company said on Thursday.
EIA: US Oil Stocks Draw Across the Board as Gasoline Demand Rebounds
U.S. crude oil and gasoline inventories fell more than expected last week, as demand for the motor fuel picked up ahead of the peak summer driving season, Energy Information Administration data showed on Wednesday.
Shale Producer Pioneer's CEO Scott Sheffield to Retire
Sheffield, an energy veteran, served as Pioneer’s founding CEO from 1997 to 2016 and chairman since 1999. He stepped down from the CEO role in 2016 before returning to the helm three years later.
Unable to Process Venezuela's Heavy Oil, Cuba Turns to Russia, Mexico
Cuba increasingly is turning to Russia and Mexico for oil to ease an acute shortage of diesel and gasoline and supplement dwindling supplies of Venezuelan crude and fuel, according to shipping data and sources.
Record Oil-Reserve Sales May Have Benefited US Storage Caverns
Last year's record drawdown of the U.S. Strategic Petroleum Reserve oil stocks may boost the longevity of the underground storage caverns, according to the national laboratory that monitors the four sites.
First Nations: Canada’s New Infrastructure Power Brokers
(P&GJ) — After decades of largely contentious relations between Indigenous groups and energy infrastructure developers, Canada’s First Nations are beginning to embrace the economic opportunities that pipeline and export projects can offer – a trend that could make it easier to approve and complete future projects.
Offshore Pipeline Design for CCUS
(P&GJ) — Design and construction of CO2 pipelines are similar to natural gas transmission pipelines. However, there are differences like: thermodynamic modeling, blow down modeling, specifying the maximum water content, pipeline fracture propagation control, use of elastomer materials and performing a quantitative risk assessment, mainly related to release modeling and defining the allowable exposure limits. These factors require special attention for CO2 pipelines, when compared with natural gas.
US Crude to Dominate Brent Oil Benchmark Under Index Change
Texas crude is set to assume a key role in the world's most important benchmark — Brent — as oil-index publisher S&P Global Platts adds U.S. WTI Midland crude to its dated Brent oil price assessment for June deliveries.
Explainer: Can Joint Gas Buying Boost Europe's Energy Security?
The European Union opened a scheme this week for companies to jointly buy gas, aiming to secure supplies ahead of winter and avoid a repeat of last year's record-high energy prices.
Japan's Tokyo Gas Reports Record 2022/23 Profit on LNG Price Boost
Tokyo Gas on Wednesday reported its highest ever yearly net profit for the 2022/23 fiscal year amid record LNG prices but warned that next year's profit may drop because of projected lower city gas and electricity sales.
Russia Looks to Companies Beyond Gazprom to Supply Gas to China
Russia is considering supplying natural gas to China by a 2,600-km (1,620-mile) pipeline from companies other than Kremlin-controlled Gazprom, which currently has the monopoly for Russian pipeline gas exports, an Energy Ministry official said on Tuesday.
Naftogaz Held Talks with Exxon, Chevron, Halliburton About Energy Projects in Ukraine -FT
Naftogaz has held talks with Exxon Mobil, Halliburton and Chevron about projects in Ukraine as the country looks to lure back foreign investment to its energy sector, the Financial Times reported on Friday. Naftogaz hopes to sign a contract with Halliburton that would help increase production to a target of 13.5 Bcm this year.
Eni Launches $5 Billion Gas Liquefaction Project in Congo Republic
Italian energy group Eni and Congo Republic's government on Tuesday launched a $5 billion gas liquefaction project expected to reach a production capacity of 3 million tonnes per year in 2025.
Offshore Innovation Seen as Key to Overcoming Obstacles
(P&GJ) — At mid-year 2022, an online industry report service using artificial intelligence (AI) enabled analytic tools released a worldwide assessment of offshore oil and natural gas prospects with a decidedly upbeat tenor.
NextEra Energy Q1 Results Boosted by Clean Energy Push
NextEra, which generates more wind and solar energy than any other company in the world, said it is benefiting from a clean energy investment push that has received major public policy support in recent months and given it a buffer against natural gas price swings.
Dutch Government Confirms Plan to Halt Gas Production in Groningen
The Dutch government said on Tuesday that it will invest $24.24 billion in the earthquake-stricken Groningen region while confirming plans to halt gas production there no later than 2024.
Woodside Energy Ties Up with Keppel Data Centers for Liquid Hydrogen Supply
Australia's Woodside Energy Ltd. signed an agreement with Keppel Corp. on Tuesday for the potential supply of liquid hydrogen to its data centers in Singapore, bolstering the city-state's renewable energy transition efforts.
Energy Firms in Germany Join Up for Sea-to-Inland Hydrogen Route
Germany wants to build 10 gigawatts of green hydrogen capacity, made from solar and wind power, by 2030 and import massive volumes from overseas to help industries such as steelmaking or cement replace millions of tonnes of heavily carbon polluting "grey" hydrogen made with gas.
Editor’s Notebook: California’s Pipeline, CCUS Quandary
(P&GJ) — California, in laying out a bold clean air initiative, has placed a great deal of emphasis on carbon capture, utilization and storage (CCUS) in an effort to start removing the same amount of carbon from the air as what the state emits by 2045.
- 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
